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Article
Publication date: 18 November 2024

Nurul Huda, Budi Trianto, Masrizal and Nihayatul Maskuroh

The Indonesian Waqf Board and United Nation Development Program are developing green waqf in Indonesia. Development of green waqf in Indonesia as a response to save the earth from…

Abstract

Purpose

The Indonesian Waqf Board and United Nation Development Program are developing green waqf in Indonesia. Development of green waqf in Indonesia as a response to save the earth from environmental damage and other social impacts. This paper aims to measure public perceptions about willingness to participate in making donations to the green waqf program in Indonesia.

Design/methodology/approach

Modifying the Theory of Reasoned Action framework, questionnaire data were collected from 311 Muslims in Indonesia. Data were analyzed using the partial least squares structural equation modeling method.

Findings

The findings show that attitude, subjective norm, product knowledge and trust influence the Muslims in Indonesia to donate to green waqf. In contrast, Islamic religiosity harms the intention to donate in green waqf but is insignificant.

Research limitations/implications

This research was conducted using a quantitative approach with a limited sample of several communities, so the results cannot be generalized. Further investigation needs to be carried out by involving a more diverse sample to get better results. However, the results of this study can be used as an illustration of how Muslims behave in donating green waqf.

Practical implications

These results imply that to develop green waqf in Indonesia, especially in attracting waqf candidates willing to make donations, waqf institutions must carry out engineering to shape the attitude of prospective donors through various activities such as socialization and education of the green waqf program. Waqf institutions must also build public trust by involving public figures to campaign for the green waqf program. This will likely increase prospective donors’ active participation in donating their money to develop green waqf in Indonesia.

Originality/value

Waqf is a severe concern for the Indonesian Government, including waqf for the environment. To the bets of the authors’ knowledge, this paper is the first attempt to look at the behavior of the green waqf model in Indonesia. Thus, the acceleration of waqf development can be realized and is expected to impact the community significantly.

Details

Journal of Islamic Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 28 August 2024

Masrizal, Raditya Sukmana, Bayu Arie Fianto and M. Shabri Abd. Majid

This paper aims to examine the profitability of Islamic banks benefits from economic freedom and its subcomponents.

Abstract

Purpose

This paper aims to examine the profitability of Islamic banks benefits from economic freedom and its subcomponents.

Design/methodology/approach

This study uses a sample of 41 Islamic banks from the Organization of Islamic Cooperation (OIC) Countries selected from 2010–2020. It conducts an empirical approach based on the System Generalized Method of Moments (SGMM).

Findings

Overall, economic freedom has a substantial impact on the profitability of Islamic banks. We then investigate the relationship between the subcomponents of economic freedom and the profitability of Islamic banks. The study’s breakdown components suggest that financial and investment freedoms are favorable indicators, while business and monetary freedoms have a negative effect.

Practical implications

This research can serve as a guideline for Islamic bank management in terms of maintaining performance. The results of this study provide policy implications for the government to offer friendly regulations for economic actors to engage in financial transactions by looking at the economic freedom sub-component.

Originality/value

To the best of the authors' knowledge, the study of the role of economic freedom in Islamic banking performance is limited, particularly in the context of OIC Countries.

Details

Journal of Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 20 November 2023

Budi Trianto, Nik Hadiyan Nik Azman and Masrizal Masrizal

The development of financial technology (fintech), especially digital payments (e-payments), aims to increase the efficiency and effectiveness of economic transactions. This study…

1215

Abstract

Purpose

The development of financial technology (fintech), especially digital payments (e-payments), aims to increase the efficiency and effectiveness of economic transactions. This study aims to see the extent to which microentrepreneurs in Indonesia and Malaysia take advantage of the existence of e-payments in developing their business and the factors that influence the adoption of e-payments.

Design/methodology/approach

This study uses qualitative and quantitative approach. For quantitative approach, partial least squares structural equation modeling (PLS-SEM 4.0) was used to analyze the data. Using the nonprobability convenient sampling technique, this study collected 400 respondents from microenterprises in Indonesia and Malaysia in various regions.

Findings

Most of the microentrepreneurs in Indonesia and Malaysia have used fintech platforms, especially e-wallet and ATM debit. However, for quick response code-based fintech for business transactions, most microentrepreneurs have not taken advantage of the platform. Then the results of the digital payment adoption factor also differ for each country.

Research limitations/implications

This study is valuable for decision-makers and regulators. These results can be used to find a roadmap for regulators to build a digital economy, especially digital payments for microenterprises in both countries. In addition, these results can be used as a basis for making policies regarding digital payments.

Originality/value

To the best of the authors’ knowledge, this is the first study to compare e-payment adoption by microentrepreneurs in Indonesia and Malaysia. Indonesia and Malaysia are two countries in the Southeast Asia region that have great attention in fintech development. This study provides new insights about fintech, especially digital payments as a strategic approach in the digitalization era.

Details

Journal of Science and Technology Policy Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2053-4620

Keywords

Article
Publication date: 25 May 2022

Masrizal, Raditya Sukmana, Bayu Arie Fianto and Rifyal Zuhdi Gultom

This paper aims to examine the relationship between economic freedom and Islamic rural banks' efficiency in the case of Indonesia.

Abstract

Purpose

This paper aims to examine the relationship between economic freedom and Islamic rural banks' efficiency in the case of Indonesia.

Design/methodology/approach

The study covers 40 Islamic rural banks in 34 Indonesian regions from 2014 to 2020. Tobit regression is utilized to expose the impact of economic freedom on the efficiency of Islamic rural banks, and nonparametric frontier data envelopment analysis is used to acquire banks' technical efficiency.

Findings

The findings reveal that overall economic freedom has a strong favorable impact on the efficiency of Islamic rural banks. The study’s breakdown components suggest that business freedom, government spending and investment freedom are favorable indicators, whereas government integrity and tax burden are negative indicators, and all indicators agree with previous studies.

Practical implications

This research can serve as a guideline for Islamic rural bank management in terms of maintaining financial efficiency. The government should think about the ramifications of financial sector liberalization and reforms, according to these findings. When financial intermediaries operate in a less constrained environment, they are more likely to pursue competitive practices that increase their operating rate and other efficiency metrics. Finally, academics might utilize this information to investigate the economic flexibility of Islamic rural banks.

Originality/value

The novelty of this study is in using data envelopment analysis and Tobit regression to identify economic freedom and Islamic rural banks' efficiency. To the best of the authors' knowledge, the study of the role of economic freedom in Islamic rural bank's efficiency is limited, particularly in the context of Indonesia.

Details

International Journal of Productivity and Performance Management, vol. 72 no. 9
Type: Research Article
ISSN: 1741-0401

Keywords

Article
Publication date: 24 September 2024

Masrizal, Raditya Sukmana and Budi Trianto

Recently, financial inclusion promoters have observed that financial literacy is a vital tool for financial inclusion growth, especially among the poor who are considered…

Abstract

Purpose

Recently, financial inclusion promoters have observed that financial literacy is a vital tool for financial inclusion growth, especially among the poor who are considered financially illiterate. The purpose of this paper is to look at the role of Islamic financial literacy (IFL) and inclusion in improving the performance of micro, small and medium enterprises (MSMEs) in Indonesia.

Design/methodology/approach

This study uses questionnaire data collected as many as 197 MSMEs. This study was analyzed using structural equation modeling approach to test the hypothesis.

Findings

The results show that IFL is an important variable to increase Islamic financial inclusion. The results also show that both have a significant influence in developing the MSME sector business.

Research limitations/implications

This research is not without limitations. This study only adopted a sample in one Province in Indonesia with focus on creative economy sector and some others sectors located in the province of Riau, therefore ignoring suburban and urban areas in Indonesia. Therefore, future studies using a cross-sectional research design are feasible. In addition, this study only uses quantitative data, so that qualitative research with key informant interviews can be considered for further research.

Practical implications

The findings of this study enlighten policymakers, managers of financial institutions and advocates of financial literacy and inclusion about the importance of improving the performance of MSMEs. As a policy recommendation, this study suggests that Islamic policy makers and financial institutions should play a proactive role in increasing service outreach and providing the regulatory environment needed for MSMEs given the important role MSMEs play in the Indonesian economy.

Originality/value

This study combines functional components (behaviors and attitudes) and nonfunctional measures (knowledge and skills) of financial literacy and financial inclusion in explaining the performance of MSMEs. Thus, this research is an initial effort to explain financial literacy and inclusion on the performance of MSMEs.

Details

Journal of Islamic Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 4 August 2021

Masrizal, Raditya Sukmana, Muhammad Ubaidillah Al Mustofa and Sri Herianingrum

This study aims to examine the relationship between the Indonesian Islamic capital market, the country's risk and macroeconomic factors.

Abstract

Purpose

This study aims to examine the relationship between the Indonesian Islamic capital market, the country's risk and macroeconomic factors.

Design/methodology/approach

This study uses the Johansen cointegration test and the vector error correction model (VECM) on monthly data from January 2003 to March 2016 to examine the variables that influenced the Islamic capital market proxied by the Jakarta Islamic Index (JII).

Findings

The findings indicate the existence of short-term and long-term cointegrations between country risk (political, economic and financial risks), macroeconomic variables (industrial production index, inflation and oil price) and JII. In the long run, financial risk positively affects the JII, whereas economic risks and inflation are negatively related. In the short run, only inflation affect negatively the JII.

Practical implications

The study emphasizes the critical role of financial risk in affecting the Islamic capital market. Investors negatively respond to higher financial risk and react positively to more increased economic threats. The variable of financial risk has the highest coefficient, indicating that the investors favour a conducive financial environment in deriving JII.

Originality/value

This study extends the previous literature with an attempt to empirically examine the influence of Indonesia's country risk on the Islamic stock market through VECM.

Details

Journal of Islamic Accounting and Business Research, vol. 12 no. 7
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 7 June 2022

Masrizal, Raditya Sukmana, Budi Trianto and Annisa Masruri Zaimsyah

The potential of waqf is so great in Indonesia but has not been optimized. This paper aims to offer a model for waqf institutions to adopt financial technology for developing…

2041

Abstract

Purpose

The potential of waqf is so great in Indonesia but has not been optimized. This paper aims to offer a model for waqf institutions to adopt financial technology for developing productive and social waqf. The authors cunduct an assesment of the Technology Acceptance Model (TAM3), Unified Theory of Acceptance and Use of Technology (UTAUT2) in seeing to the crowdfunders’ behavior.

Design/methodology/approach

This study adopted a structural equation using the partial least square approach to test the hypotheses. Based on purposive sampling, the spread of questionnaires through online surveys throughout Indonesia consists of all islands. A total of 297 respondents collected the questionnaires.

Findings

Based on the findings, acceptance models have a positive and significant impact on the behavioral intentions of crowdfunders, while Unified Theory of Acceptance and Use of Technology have no significant effect.

Research limitations/implications

The sample of this study involved potential crowdfunders from all over the islands in Indonesia, but these results cannot be generalized because of limitations in terms of the sampling technique used. However, the results of this study can be used as an illustration of how crowdfunders behave in donating money using financial technology.

Practical implications

The results of this study provide a comprehensive perspective for policymakers, especially the Indonesian Waqf Board as the waqf authority that regulates waqf nazir to improve quality by adopting crowdfunding financial technology in collecting waqf funds. In addition, in terms of implications for the government, this waqf crowdfunding model will reduce spending and increase economic growth.

Originality/value

To the best of the authors’ knowledge, this paper is the first in looking at the waqf crowdfunding in Indonesia by looking at two reliable technology determinant models. Studies on cash waqf in Indonesia are many, but they do not look at the issue of crowdfunding, which has gained more attention recently. This paper aims to fill this gap, and this becomes the novelty.

Details

Journal of Islamic Marketing, vol. 14 no. 7
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 6 August 2024

Tika Widiastuti, Imron Mawardi, Al-Shami Samer Ali, Nikmatul Atiya, Lina Nugraha Rani, Anidah Binti Robani and Muhammad Ubaidillah Al Mustofa

This study aims to examine the factors influencing the intention of Muslim Millennial Generation in Indonesia to donate cash waqf digitally.

Abstract

Purpose

This study aims to examine the factors influencing the intention of Muslim Millennial Generation in Indonesia to donate cash waqf digitally.

Design/methodology/approach

A quantitative approach was employed, surveying 284 Muslim Millennial Generation in Indonesia. The study integrated the Decomposed Theory of Planned Behavior (DTPB) and Technology Acceptance Model (TAM) to investigate the key factors driving the intention to contribute to cash waqf digitally. The researcher analyzed data using Partial Least Squares Structural Equation Modeling (PLS-SEM).

Findings

The findings of this study indicate that all hypotheses related to the variables are supported, including both direct and indirect correlations, except for perceived religiosity. This study confirms that the decision of millennials to donate cash waqf online is influenced by various factors, including their attitudes, the environment they are in, their ability to control their behavior, their perception of the ease and usefulness of technology and the availability of suitable facilities. Knowledge of technology is also a decisive component. Nevertheless, this study yielded intriguing findings that the perceived level of religious devotion does not impact the millennials’ willingness to make online cash waqf donations.

Practical implications

This study’s findings offer valuable insights for waqf institutions, providing a better understanding of Muslim millennials’ characteristics and preferences regarding spending, donations and waqf activities. This understanding can be instrumental in enhancing innovative digital platforms for cash waqf in the digital economy era.

Originality/value

This study uniquely explores the determinants of digital cash waqf donations among Muslim Millennial Generation in Indonesia. Contributions include integrating the DTPB and the TAM for a comprehensive analysis. Cross-disciplinary perspectives from behavioral economics and digital marketing enrich the research. Comparative studies and potential longitudinal analysis enhance depth, providing nuanced insights into the dynamic factors shaping digital donation behavior among Muslim millennials.

Details

Journal of Islamic Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 17 November 2023

Rindawati Maulina, Wawan Dhewanto and Taufik Faturohman

This paper aims to investigate the behaviour determinants towards cash waqf for productive purposes between two different classes of Muslims: the upper-middle class and the…

Abstract

Purpose

This paper aims to investigate the behaviour determinants towards cash waqf for productive purposes between two different classes of Muslims: the upper-middle class and the lower-middle class.

Design/methodology/approach

Under the Theory of Planned Behavior framework, this study modified previous literature to investigate the determinants of two Muslim classes’ behaviour towards cash waqf for productive purposes. A structural equation model was applied to test the hypothesis, and an in-depth interview was conducted to explain the findings further.

Findings

The behaviour of participating in cash waqf for productive purposes differs between the two Muslim segments. Upper-middle-class Muslims’ intentions will not necessarily consider subjective norms, even though they will consider religiosity as their deciding factor. Meanwhile, this study found different results on the influence of attitude, religiosity and subjective norms to intention in the lower-middle-income group. Other attributes such as perceived behaviour control, knowledge, trust and perceived benefits show positive and significant effects on the intention for both income classes of Muslims.

Research limitations/implications

The current findings may not accurately reflect ideal conditions due to the low level of waqf literacy and actual participation of Muslims in cash waqf for productive purposes. Researchers can conduct further studies based on other criteria, such as gender, age, education level or area of residence, using experimental or simulation methods to complement the research.

Practical implications

This study’s findings can support policymakers and related waqf stakeholders to set strategies for cash waqf literacy and participation by providing more detailed information about the differences in Muslims characteristics based on the income classes.

Originality/value

This study specifically modifies the behavioural framework to investigate differences in the behaviour of two classes of Muslims towards their participation in cash waqf for productive purposes in Indonesia.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 14 September 2010

Antoine G. Farhat and Talar M. Fossian

Lebanese meals rich in vitamin C are taken for granted to contain this vitamin without consideration of its losses during the cooking and storing processes. This paper aims to…

Abstract

Purpose

Lebanese meals rich in vitamin C are taken for granted to contain this vitamin without consideration of its losses during the cooking and storing processes. This paper aims to examine the impact of different cooking pots, refrigeration and conventional reheating or via microwaving (MWR) on vitamin C depletion.

Design/methodology/approach

Two samples of three meals rich in vitamin C (AB: Aadas Bhamoud made of lentils and Swiss chard; CS: cauliflower stew; ML: Meloukhieh made of Jew's mallow) were analyzed in triplicates when they were raw, cooked in double based stainless steel (DBSS) or pressure cookers (PCs), refrigerated at 4 C for 48 h, and when reheated in an open pot or in a microwave reaching 70 C. The titration with 2,6‐dichlorophenolindophenol method was used for vitamin C analysis.

Findings

Relative vitamin C losses throughout the processing stages were 37.64, 65.43 and 79.00 percent for ML, CS and AB, respectively. DBSS tended to deplete vitamin C less than PC. AB lost 34.4 and 49.2 percent vitamin C with DBSS and PC, respectively; CS lost 52.3 and 57.5 percent with DBSS and PC, respectively; and ML lost 16.3 and 27.4 percent with DBSS and PC, respectively. Vitamin C loss at refrigeration was significant for both cooking pots used for the meals AB and ML but not for CS. Reheating resulted in further significant losses across meals and reheating methods.

Practical implications

The study highlights the importance of avoiding unnecessary cooking practices to minimize vitamin C depletion and more accurately estimating its daily intake.

Originality/value

The study presents for the first time the quantification of vitamin C losses in Lebanese meals subjected to different processing types and stages.

Details

Nutrition & Food Science, vol. 40 no. 5
Type: Research Article
ISSN: 0034-6659

Keywords

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