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al-Uqud : Journal of Islamic Economics
ISSN : 25490850     EISSN : 25483544     DOI : http://dx.doi.org/10.26740/al-uqud
Core Subject : Economy,
al-Uqûd : Journal of Islamic Economics published by the Islamic Economic Studies Department of Economics Faculty of Economics, Universitas Negeri Surabaya in cooperation with the Forum of Economic and Business Lecturer Islam (FORDEBI). al-Uqûd published twice a year, in January and July. The journal will focus on providing quality research in the areas of Islamic economics, banking and finance. The goal of the journal is to cover topics that are paramount in modern Islamic economics and finance. The language used in the form of Indonesian and English. Editors invite research lecturers, the reviewer, practitioners, industry, and observers to contribute to this journal.
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Articles 10 Documents
Search results for , issue "Vol. 6 No. 2 (2022): July" : 10 Documents clear
Is there a short-term overreaction to pandemic COVID-19? A case study of the Indonesia Islamic Capital Market Widya Syafitri; Jaenal Effendi; Mohammad Iqbal Irfany
al-Uqud : Journal of Islamic Economics Vol. 6 No. 2 (2022): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (535.367 KB) | DOI: 10.26740/aluqud.v6n2.p177-191

Abstract

COVID-19 is an event that has harmed various sectors, one of which is the capital market sector. The high uncertainty caused by the COVID-19 outbreak caused investors to react to this event, which could cause an overreaction phenomenon. The events taken in this study sample are two events related to COVID-19. This study aims to analyze the phenomenon of overreaction in Islamic stocks and the factors that influence the phenomenon of overreaction by using the two-sample difference test method and cross-sectional regression. The results showed that in the lockdown event (Event 2) was proven that there was a significant overreaction phenomenon in the winner stock category. The factors that influence the overreaction phenomenon in this event are proven to be significantly and negatively influenced by leverage and market capitalization. In contrast, trading volume significantly and positively influenced the overreaction phenomenon.
A bibliometric analysis of research on zakat: Past trends and future directions Luqman Hakim Handoko; Ai Nur Bayinah; Firmansyah Firmansyah
al-Uqud : Journal of Islamic Economics Vol. 6 No. 2 (2022): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (926.151 KB) | DOI: 10.26740/aluqud.v6n2.p160-176

Abstract

Zakat is a part of Islamic social finance that aimed at the social purpose and has been recently received attention from researchers globally. Therefore, the study aimed to explore the current state of zakat literature, identify the bibliometrics in the field, and provide future research direction. To achieve this goal, this study utilised bibliometric analysis using VOSviewer software. The documents were extracted from the Scopus database on 5th March 2021 with the search keyword Zakat and its variations. The result showed 635 documents in 267 journals and revealed approximately 1289 authors. The papers came from 53 countries and 160 affiliations roughly. Based on co-occurrence, the analysis identified 1488 keywords and the word zakat, Islam, Malaysia, Poverty, and zakat institution as the top five frequent keywords. The study also revealed the current trend of zakat studies related to education, performance, SME, and compliance. The most important of this study, seventeen zakat issues, were provided for future research agenda. Henceforth, the following research might focus on this study's suggestions to enrich and enhance zakat literature.
Digital marketing in Islamic perspective: A literature review Wahyu Eko Pujianto; Laily Muzdalifah
al-Uqud : Journal of Islamic Economics Vol. 6 No. 2 (2022): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (458.08 KB) | DOI: 10.26740/aluqud.v6n2.p247-258

Abstract

Business and trade become an inseparable part of Islamic life. The rapidly growing market in cyberspace is a challenge for business players in the form of goods and services to expand and develop their business strategies, namely in terms of marketing. The purpose of the research in this article is to find out digital marketing from an Islamic perspective. The method used is a literature review, which is a literature search both internationally and nationally conducted using the Google Scholar database, ScienceDirect, ProQuest, JIM (Journal for Islamic Marketing), which is about 40 journal articles and 10 books of full quality and medium that is considered relevant is used in this study. The results show that sharia digital marketing activities must be based on Islamic principles. The implementation of digital marketing in sharia is almost the same as the digital marketing principle, yet the difference is the application of the character of business actors accompanied by sharia marketing ethics following the principles as described in the previous discussion. The steps of sharia digital marketing taken are as follows: Creating a Website and Social Media Account, Branding, Social Media Marketing, Content Marketing, Email Marketing, Video Production, and Segmentation.
The influence of Islamic value and fraud diamond factors on academic fraud: Empirical study on Islamic University Ajeng Kusuma Dewi; Abriyani Puspaningsih; Ataina Hudayati
al-Uqud : Journal of Islamic Economics Vol. 6 No. 2 (2022): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (505.232 KB) | DOI: 10.26740/aluqud.v6n2.p259-274

Abstract

The purpose of this study is to investigate the impact of Islamic values on Islamic behavior, Islamic environment, Islamic character education, and academic fraud diamond factors such as pressure, opportunity, rationalization, and capability. This research employs quantitative methods. The data was gathered using a questionnaire and a purposive sampling method, and it was analyzed using SPSS 19. The research sample consists of 259 Universitas Islam Indonesia students from all faculties. The findings of the study show that Islamic behavior, Islamic environment, and Islamic character education all have a negative impact on the perception of academic fraud. At the same time, pressure, opportunity, rationalization, and capability have no effect on academic fraud perception.    
Key determinants of intention to visit halal tourism in Madura Nurita Andriani; Miftahul Jannah; Very Andrianingsih
al-Uqud : Journal of Islamic Economics Vol. 6 No. 2 (2022): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (374.723 KB) | DOI: 10.26740/aluqud.v6n2.p220-231

Abstract

The launch of halal tourism is based on the consideration that Indonesia is the largest Muslim majority country in the world, namely 207 million people. This study aims to analyse the potential of halal tourism in Madura with digital technology, access, value-added, and facilities mediated by e-marketing to see the intention to visit halal tourism. The research method used is Structural Equation Modeling with Smart Partial Least Square (PLS). The sample of this study was collected through a questionnaire from 187 tourists who were travelling in Madura halal tourism destination as respondents. The study results indicate that either directly or mediated by e-marketing, access significantly affects the intention to visit halal tourism. On the other hand, technology innovation and value-added have no significant effect. Meanwhile, facilities and e-marketing also directly affect the intention to visit halal tourism. Overall, to increase the potential for halal tourism visits in Madura, it needs easy access, good e-marketing and supporting facilities because the Madura area has many halal tourist destinations. The added value presented as an opportunity to see original regional merchandise, regional performances, and innovative technology has not become a priority for tourists to have halal tourism intention in Madura Island. This study provides research and practical implications for stakeholders related to halal tourism in Madura.  
Reducing family poverty through an Islamic women’s empowerment strategy in Indonesia: An analytical network process approach Aas Nurasyiah; Lubna Sarwath; A. Jajang W. Mahri; Ripan Hermawan; Gina Destrianti Karmanto
al-Uqud : Journal of Islamic Economics Vol. 6 No. 2 (2022): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (540.491 KB) | DOI: 10.26740/aluqud.v6n2.p206-219

Abstract

This study is intended to develop a strategy for the socio-economic empowerment of women from low-income families based on an Islamic perspective. The research was motivated by Indonesia’s low score on the Gender Inequality Index (GII) compared to other countries, indicating the gap between men’s and women’s empowerment in Indonesia. The percentage of women who become the heads of poor households increases yearly. This qualitative study uses the Analytical Network Process (ANP) to test the social welfare measures for low-income families carried out by governments, Islamic philanthropic institutions, and Islamic microfinance institutions. As many as fifteen respondents involved in the ANP method were experts on the studied problems, namely regulators, practitioners, and academics. The research results indicate that the main priority issue developing women’s empowerment is the development of partnership networks. In the next stage, the experts concluded that business assistance and mental-spiritual development were the main priorities for empowering women and reducing family poverty. The provision of financial access is the last priority. One implication of this study is that the empowerment program for women from low-income families must be holistic, e.g., by forming a Group Lending Model (GLM) with a modification of the majlis ta'lim (Islamic community discussion group).
Malay's perception of Islamic banking credibility Huzaimah Huzaimah; Romli Romli; Maya Panorama
al-Uqud : Journal of Islamic Economics Vol. 6 No. 2 (2022): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (407.98 KB) | DOI: 10.26740/aluqud.v6n2.p275-288

Abstract

This study aims to analyze the perceptions and preferences of the Malay community towards Islamic banking and examine the opportunities and challenges of Islamic banking in maintaining its credibility. This research method is carried out with a quantitative descriptive approach through a survey of 100 respondents. The sampling technique used was accidental sampling through the distribution of google forms. The study results indicate that the development of the number of customers of Islamic banks has indeed increased. However, compared to conventional banks, it still dominates the number of customers who save in conventional banks even though the Malay community, which is predominantly Muslim, should be the dominant interest in Islamic banks. There are various perceptions of the Malay community towards Islamic banking. Some Malay people think that Islamic banks are stated in a profit-sharing manner the same as conventional banks, with the term interest only differing in mentioning term. Due to the lack of promotion, many Malay people still use conventional banks for economic transactions. Human resources management influences the perception of the Malay community towards Islamic banking.
The right to choose (Khiyar) innovation for contemporary transaction in e-commerce marketplace Windiana Lorien; Rahmad Hakim; Arif Luqman Hakim
al-Uqud : Journal of Islamic Economics Vol. 6 No. 2 (2022): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (566.885 KB) | DOI: 10.26740/aluqud.v6n2.p192-205

Abstract

This study aims to analyze and compare the implementation of khiyar in online transactions at Shopee, Tokopedia, and Bukalapak. This type of research is a comparative study with a qualitative approach in comparing the implementation of khiyar at Shopee, Tokopedia and Bukalapak. This study uses primary data sources and secondary data sources, with data collection techniques in the form interviews and documentation. Data analysis in this study uses data analysis model of Miles, Huberman and Saldana. The results found that There are similarities transaction procedure that applies in the three marketplaces which are two types of khiyar applied, namely khiyar 'aib and khiyar ru'yah. Based on experienced transaction process carried out by sellers at Shopee, Tokopedia and Bukalapak, it was known that there are four sellers who both apply khiyar 'aib, while the application of khiyar aib was only applied by buyer at Tokopedia. On the other hand, khiyar ru'yah was not applied by buyers at Bukalapak but it was only applied by one buyer at Shopee and Tokopedia.
Motivation to paying Zakat: The role of religiosity, Zakat literacy, and government regulations Muhammad Syauqi; Muslich Anshori; Imron Mawardi
al-Uqud : Journal of Islamic Economics Vol. 6 No. 2 (2022): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (554.021 KB) | DOI: 10.26740/aluqud.v6n2.p232-246

Abstract

Zakat as an instrument of poverty alleviation, is considered very effective in distributing welfare. However, the reported zakat receipts in Indonesia are still far from the estimated revenue potential. This research examined the factors that motivate the payment of zakat through an official national institution or organization. This quantitative research employed the explanatory method, with data analysis techniques comprising the partial test (t), stimulant test (F), and the coefficient of determination (R2). Subsequently, the results indicated that the factors of religiosity, zakat literacy and government regulations simultaneously affect the motivation to pay zakat through a management agency. Partially influencing factors were zakat literacy and government regulations, while religiosity had no effect.
Economic development on Madura Island through halal tourism: A business feasibility study Zakik Zakik; Ahmad Kamil; Alvin Sugeng Prasetyo; Muhamad Nafik Hadi Ryandono; Ida Wijayanti
al-Uqud : Journal of Islamic Economics Vol. 6 No. 2 (2022): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (436.869 KB) | DOI: 10.26740/aluqud.v6n2.p289-303

Abstract

The main objective of this research is to analyze the business feasibility of a halal tourism destination in Madura, exclusively Lon Malang Beach. The analysis includes technical, social economic, and financial feasibility study. The financial analytical method used in this study is Investment Feasibility Analysis includes Payback Period (PP), Net Present Value (NPV), and Benefit Cost Ratio (BCR). The investment feasibility analysis is used to determine the level of return-on-investment alternatives, assess investment alternatives, and determine priorities for investment, thus avoiding investments that only waste resources. The measurement results show that the Payback Period (PP) is in the 9th year, which means that in 9 years, this project will have a return on investment. NPV values greater than 0 and BCR of more than 2 indicate that the Lon Malang tourism development project is feasible. This research is the first research to bring ideas about a feasibility study in halal tourism sectors. This research enriches the knowledge and research on feasibility studies of halal tourism sectors. This research is said to bring important information in decision-making, especially to improve the business and guide the decision-making of investors and government parties, especially in Madura Regency.

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