cover
Contact Name
Priyonggo Suseno
Contact Email
061002218@uii.ac.id
Phone
-
Journal Mail Official
editor.risfe@uii.ac.id
Editorial Address
Center for Islamic Economics and Development Studies (CIEDS) Faculty of Business and Economics, Universitas Islam Indonesia Jl. Prawiro Kuat, Ngringin, Condongcatur, Depok, Sleman Daerah Istimewa Yogyakarta, Indonesia, 55283
Location
Kab. sleman,
Daerah istimewa yogyakarta
INDONESIA
Review of Islamic Social Finance and Entrepreneurship
ISSN : -     EISSN : 2963847X     DOI : https://doi.org/10.20885/RISFE
AIMS AND SCOPE Aims Review of Islamic Social Finance and Entrepreneurship covers in detail a large number of topics related to Islamic Social Finance, comprising the latest empirical studies, country-specific studies, policy evaluations on Islamic sosial finance and entrepreneurship. This journal provides a forum for scientific exchange for academicians, practitioners, keen observers, and independent researchers, by publishing high-quality theoretical, empirical, and policy contributions. Scope: Islamic social finance: - Zakat Management - Zakat Collection - Zakat Distribution - Development of zakat Institution - Global zakat system and sustainable zakat accounting - Islamic social finance in post-pandemic period - Building sustainable Islamic social finance ecosystem - The role of Fintech in optimizing the social function of Islamic finance - Sustainable development goals and Islamic finance - Cash waqf endowment for Sustainable development - Implication of Islamic accountability for waqf - Islamic social finance through waqf - Good government for Islamic endowment - Takaful overview, growth and models - Governance mechanism of takaful market - Takaful product, service and customer perception - Islamic microfinance, principles of performance and problems - Islamic microfinance for sustainable development - Islamic microfinance for female empowerment - The role of the banking sector in operationalizing - Islamic social finance in post-pandemic period - Building sustainable Islamic social finance ecosystem - The role of Fintech in optimizing the social function of Islamic finance - Sustainable development goals and Islamic finance Islamic entrepreneurship: - Innovativeness and risk-taking - Ethics and social responsibility - The Muslim entrepreneurs among micro/small entreprises - Women Entrepreneurship Development - Islamic entrepreneurship mind programming on entrepreneurial performance - Technological innovation and entrepreneurship - Social welfare services in the social entrepreneurship context - Human resource in the Islamic sector and academic entrepreneurship - The role of enterprise architecture in enterprise integration - Model of strengthening the entrepreneurship character - Islamic venture capital as financing alternative of Muslim entrepreneurs - Islamic entrepreneurship education model for higher education institution
Articles 26 Documents
Evaluation of zakat literature: A bibliometric analysis and systematic literature review Risna Putri Apriliyah; Bayu Arifianto
Review of Islamic Social Finance and Entrepreneurship Volume 1 Issue 1, 2022
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol1.iss1.art4

Abstract

Purpose – this study aims to determine previous research trends on zakat, assess the relationship of research collaboration, and identify future research directions.Methodology – It uses 87 articles published between 2009-2020 about zakat indexed in Scopus in Q1, Q2, and Q3. Using a qualitative and quantitative approach, the Bibliometric method and Systematic Literature Review (SLR). This study uses Vos Viewers software and Publish or Perish.Findings – It is known that three sub-themes dominate the research related to zakat: Implementation of zakat in alleviating poverty, zakat compliance, and distribution of zakat funds.Implications – This study implied that regulators can re-evaluate their regulations regarding zakat collection, management, and distribution. This is because they expect researchers, practitioners, and regulators to establish and implement policies for the future.Originality – It identifies three sub-themes that dominate research related to zakat, they are Implementation of zakat in alleviating poverty, compliance with zakat, and distribution of zakat funds.
Women entrepreneurs in the era of metaverse: An Islamic economic perspective Telsy Fratama Dewi Samad; Nugraha Hasan
Review of Islamic Social Finance and Entrepreneurship Volume 1 Issue 2, 2022
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol1.iss2.art5

Abstract

Purpose – This study aims to reveal the phenomenon of women entrepreneurs in the era of the Metaverse and analyze the Islamic economic viewpoint on using the Metaverse for business purposes. Methodology – For the research procedure, this study uses a qualitative method with descriptive analyses and collects the sources of research using the library research technique. Findings – This paper's findings showed that a growing number of entrepreneurs are conducting business in the Metaverse world, including women entrepreneurs. It also can be seen that cryptocurrencies used as tools for business transactions in the Metaverse are not in accordance with Islamic principles. It can be concluded that it is better for Muslim entrepreneurs to always be on track with the Islamic way, particularly in running their businesses.Implications – The rising amount of women entrepreneurs in this generation has become remarkable, concurrent with the evolution of digitalization which eases the praxis of business to occur, particularly in the era of the Metaverse. Yet, it is also essential to analyze the usage of the business platform in the sphere of Metaverse from the perspective of Islamic economics for business activity, not to contradict the principles of Islam. Originality – This study is to complete the lack of previous studies explaining the phenomenon of women entrepreneurs in the recent era of the Metaverse and discuss the perspective of Islamic economics concerning business in the Metaverse sphere.
Ibn Khaldun's insight: Intellectual capital for entrepreneurship using wordclouds and netnography Dicky Wahyudi
Review of Islamic Social Finance and Entrepreneurship Volume 1 Issue 1, 2022
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol1.iss1.art5

Abstract

Purpose – This paper aims to identify Ibn Khaldun's philosophy on the contribution of intellectual capital to increasing business performance for MSMEs.Methodology – Using literature studies and observations of online data, this paper focuses on identifying the typology of content used by internet users on Youtube channels to capture the involvement of entrepreneurs during the Covid-19 pandemic era. This study is conducted using the Netnographic method, whereas the Wordcloud technique was used to generate information for entrepreneurship from the youtube channel. The relevant channel is entitled “UMKM: Paling Tangguh Meskipun Kalah “Seksi," which means "The greatest MSMEs even though they are less "attractive".Findings –The theory described by Ibn Khaldun is identical to intellectual capital, and the views of other researchers have been classified in this paper: (1)human capital, (2)organizational capital, (3)relational capital, (4)spiritual capital and (5)technological capital.Implications – This paper provides an alternative thought for the development of MSMEs to utilize intellectual capital to face the Covid-19 pandemic era and financial capital such as debt.Originality – This research attempted to show the scope of Ibn Khaldun's insight focuses on the process of economic development, but no one has yet discussed how Ibn Khaldun's view of economic philosophy relates to increasing business performance for MSMEs.
Women entrepreneurship: A sentiment analysis Aam Slamet Rusydiana; Nadia Nurul Izza
Review of Islamic Social Finance and Entrepreneurship Volume 1 Issue 2, 2022
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol1.iss2.art3

Abstract

Purpose – This study aims to determine the sentiment towards women's entrepreneurship development in the last 32 years, from 1987 to 2019Methodology – The method used is descriptive statistical analysis combined with meta-analysis and sentiment from secondary data in metadata from 98 Scopus indexed publications, then processed using Microsoft Excel 2019 and SentiStrength software.Findings – The sentiment analysis results show that the expert opinions on the development of women's entrepreneurship are diverse, with positive sentiment at 30.6%, negative sentiment at 30.6%, and neutral sentiment at 38.8%. Based on the study results, it was found that there had been a rise in the study on the topic of developing women's entrepreneurship in the scholarly literature. Implications – These results can be used as illustrations to provide education and literacy about existing barriers to women's entrepreneurship. A strong commitment from a variety of stakeholders, including interested parties such as policymakers and the government, hoped to play a critical role in supporting and strengthening the women entrepreneurship ecosystem to advance economic empowerment by advancing innovation in tandem with the advancement of digitalization in the form of digital technology, improving the education system and employment practices can maximize the potential of female entrepreneurs, resulting in positive outcomes such as job creation and increased welfare, as well as assisting the United Nations in implementing the Sustainable Development Goals (SDGs).Originality – There are no papers discussing the evolution of global views of interest in women's entrepreneurship research using the sentiment method. Therefore, this paper is among the first.
Analysis of the utilization of zakat, infaq, and alms during the Covid-19 pandemic: CIBEEST model approach Muhammad Farhan Razzack; Purbayu Budi Santosa; Mochammad Ardani; Annisa Maulidia Alfian
Review of Islamic Social Finance and Entrepreneurship Volume 1 Issue 1, 2022
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol1.iss1.art3

Abstract

Purpose – One of the instruments in Islamic economics that can help alleviate poverty during Covid-19 is zakat, infaq, and alms. This study aims to analyze the effect of ZIS utilization by the Jogokariyan Mosque in reducing the poverty of its congregation.Methodology – The approach is quantitative with CIBEST analysis techniques and different tests (Paired T-test and Mann-Whitney test). Data were collected through interviews with the Jogokariyan Mosque administrators and distributing questionnaires to 33 congregations that received ZIS benefits as a population. Findings – The results of the analysis of the CIBEST model show that the use of ZIS can reduce the material and spiritual poor of the congregations who receive ZIS assistance. The results of the Paired T-test and the Mann-Whitney test showed that all variables experienced positive differences before and after receiving ZIS assistance from the Jogokariyan Mosque.Implications – Community empowerment through ZIS funds from the Jogokariyan Mosque can be further improved, particularly by increasing the number of beneficiaries (mustahik). The practice applied by the Jogokariyan Mosque can also be imitated by other mosques so that they can become an instrument of economic recovery during the Covid-19 period. Originality – This study looks at how the empowerment of Islamic social funds is carried out through mosques. This shows that the mosque's function is not only a place of worship but also an important role in the community's social conditions.
Digital management on zakat institutions: Mapping using Biblioshiny R Silma Lafifa Sunarya; Sabiq Al Qital
Review of Islamic Social Finance and Entrepreneurship Volume 1 Issue 2, 2022
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol1.iss2.art2

Abstract

Purpose – This study aims to identify and map the research most relevant to developing digital technology research trends published by leading journals on digital management in zakat institutions. Methodology – The analysis focused on describing the characteristics and trends of keywords, authors, citations, and journals. The data analyzed were 25 journal publications for the last four years starting from 2019-2022, accessed online by Dimensions on June 09 2022. The methods used were descriptive statistics and bibliometric analysis with Biblioshiny, an R-based application, to generate bibliometric maps. Findings – The study found that Indonesia's covid pandemic and zakat management blockchain is the most common words in this topic. Implications – This paper focuses on the development of the Islamic world in building and contributing to the digital ecosystem in zakat institutions. Originality – This research is expected to help carry out a comprehensive study of the center, identify research gaps, and help researchers determine research development by exploring findings that can still be developed related to digital management in zakat institutions are still limited
Utilization of productive zakat funds in the ZMart Program to improve mustahik welfare Abdul Rachman
Review of Islamic Social Finance and Entrepreneurship Volume 1 Issue 1, 2022
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol1.iss1.art6

Abstract

Purpose – This study aims to analyze the utilization of zakat funds carried out by BAZNAS Tangerang City through the ZMart program. Methodology – The method in this research is the descriptive qualitative method. The primary sources in this study were interviews and observations of the administrator of the ZMart BAZNAS program in Tangerang City, mustahik, who owns a ZMart store, and ZMart consumers. Secondary data sources come from several articles, data, and information related to the ZMart program.Findings – The results of this study illustrate that the utilization of zakat funds through the ZMart program is still unable to improve the welfare of mustahik towards muzakki because of the limited capital provided in managing their business, so they are only able to survive in managing a small shop. However, the ZMart application has been beneficial in managing small stalls even though the shop owners are still relatively low in using the latest technology.Practical implications – This research can be a source of data for BAZNAS Tangerang City and researchers, in general, to evaluate the ZMart program and its implementation to improve the welfare of mustahik towards muzakki.Originality – most studies analyze ZMart as a mustahik empowerment program focusing on the programs it does. This research focused on the results of the ZMart program, which can provide welfare in managing the business to increase the degree of mustahik to become muzakki.
Personality traits: Support for survive in pandemic Covid-19 for SMEs Mega Dwi Septivani; Alivia Meyrizka Utami
Review of Islamic Social Finance and Entrepreneurship Volume 1 Issue 1, 2022
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol1.iss1.art1

Abstract

Purpose – Small and Medium Enterprises (SMEs) play an important role in the Indonesian economy. However, the Covid-19 pandemic has hampered the economic sector, companies must be able to create the best market opportunities one way through which entrepreneurial personality traits and skills can influence the market and entrepreneurial orientation. Therefore, it is important to know the important role of the personality and skills of SME owners in responding to this situation. Based on this, this study aims to examine the relationship between personality traits, entrepreneurial orientation, market orientation and performance.Methodology – This study uses a survey with a structured questionnaire with a total of 103 SMEs owners in Indonesia.Findings – This study shows that the ability to negotiation skill and risk taking has a significant effect on both entrepreneurial orientation and market orientation, but optimism and locus of control have no effect on market orientation and orientation.Implications – This study promises to examine how the positive role of personality traits here can help managers view any crisis in a new perspective. As for the managerial implications a manager can use the influence of their personality to inspire and mobilize their team to work effectively to achieve common goals.Originality – This research is to provide a useful view for SMEs owners, it is important to be entrepreneurship and market oriented in order to improve SMEs performance and increase awareness of the importance and adopting new technology as an effort to deal with the Covid-19 and anticipate the economy in the future.
Rice land sustainability and agricultural financing through waqf Rifaldi Majid
Review of Islamic Social Finance and Entrepreneurship Volume 1 Issue 1, 2022
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol1.iss1.art2

Abstract

Purpose – This paper aims to formulate a waqf of rice field model combined with the mitigating risk associated with maintaining the agricultural land due to the conversion issue.Methodology – This study used a qualitative method with a library approach by adopting a qualitative content analysis which strengthens primary data collection through in-depth interviews with experts consisting of regulators, practitioners, and academics in the fields of waqf and agricultureFindings – The results showed that the strategy to implement the waqf of rice fields could be pursued by an internal strategy, namely optimizing and revitalizing waqf land. That had been pledged as a means of production and an external strategy through the acquisition of potential paddy fields for waqf and managed by nazhir. In implementing the proposed model, some institutional engineering is needed, namely by presenting the role of anchor companies as managers, farmer associations of driving actors, and off-takers who buy crops. It can mitigate the risk of reduced cash waqf principal and farmer financing through a holistic feasibility study, involvement of insurance/guarantor, reserving capital funds, restructured financing, blended finance schemes, and institutional strengthening.Implications – This model expects to answer the sustainability problem of agricultural land, be a catalyst for increasing production quantity, and solve the financing issue for farmers.Originality – This preliminary study integrated the agricultural issues with the concept of waqf and Islamic instruments strengthened by literature review and expert judgment, followed by formulating the proposed model's strategies, models, and risk mitigation.
Do perceived zakat institutions and government support affect entrepreneurs' intention to pay zakat? Heri Sudarsono; Indri Supriani; Andika Ridha Ayu Perdana
Review of Islamic Social Finance and Entrepreneurship Volume 1 Issue 2, 2022
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol1.iss2.art1

Abstract

Purpose – This study aims to determine the effect of attitudes, subjective norms, institutional zakat systems, and government support in influencing the interest of entrepreneurs in paying zakat. Methodology – There are 140 respondents in this research from 6 big cities in Java, such as Jakarta, Serang, Bandung, Semarang, Yogyakarta, and Surabaya. This research uses the Partial Least-Square-Structural Equation Modeling (PLS-SEM) analysis technique with the Theory of Reasoned Action (TRA) model. Finding – The findings reveal that attitudes, subjective norms, and perceived zakat institutions affect entrepreneurs' interest in paying zakat. Meanwhile, perceived government support does not affect entrepreneurs to pay zakat.Implications – Zakat institutions need to regularly involve Muslim entrepreneur organizations in zakat management programs so that perceptions about zakat institutions and the role of government in improving zakat management can increase the motivation of entrepreneurs to pay zakat.Originality – There has been no previous research including perceived zakat institutions and perceived government support as variables influencing entrepreneurs' intention to pay zakat in Indonesia.

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