IQTISHADIA Jurnal Ekonomi & Perbankan Syariah

Islamic Philonthropy at Islamic Boarding School-Based Microfinance Institutions in Madura During the Covid-19 Pandemic

Fadllan — 2025-12-22

The Covid-19 pandemic has caused a significant economic downturn, including in Madura, which necessitates alternative solutions to support community economic resilience, even if the impact is not substantial. This study aims to examine the role of Islamic economic instruments implemented by Islamic boarding school–based microfinance institutions in addressing economic challenges during the Covid-19 period. The research employs a mixed-method approach, combining quantitative analysis with qualitative data obtained through interviews and observations. This approach allows statistical findings to be complemented by empirical insights into the practical implementation of Islamic microfinance practices, enabling their potential replication by other institutions or communities. he findings indicate that the economic empowerment model applied is based on philanthropy from ummah to ummah, utilizing Islamic instruments such as zakat, infaq, alms, and waqf. The hypothesis testing results show that zakat has a positive and significant effect on economic improvement, with a t-value of 3.287. In contrast, infaq does not have a significant effect, while waqf and alms demonstrate negative but significant partial effects on economic conditions during the Covid-19 period. The standard error of all independent variables is below 5 percent, indicating their overall influence on the Madurese economy during the pandemic. Furthermore, the coefficient of determination (R²) is 0.718, suggesting that zakat, infaq, alms, and waqf collectively explain 71.8 percent of the variation in economic improvement, while the remaining 28.2 percent is influenced by other factors not examined in this study.

Construction of Waqf Ahli: Cash Waqf Management based on Family Economic Sustainability based at Roumah Wakaf Surabaya

Basar Dikuraisyin — 2025-12-22

This study analyzes the role of waqf experts in managing cash waqf for family economic security and developing a model for utilizing cash waqf based on economic independence. Cash waqf is used for public benefit, but its benefits are not felt by families and waqf experts. Cash waqf does not provide economic independence for mauquf alaih. This study uses a qualitative-analytical approach with a case study method through interviews with the chief executive and head of distribution at BAZNAS Gresik. The findings show that BAZNAS Gresik implements a hybrid management model that integrates productive waqf with the principles of social entrepreneurship, where cash waqf funds are channeled as revolving capital for family micro-enterprises. This approach increases income stability and reduces the economic vulnerability of mustahik families. This study resulted in the reconstruction of family-based waqf management by emphasizing the synergy between waqf sustainability and household economic resilience. In practical terms, this study confirms the role of zakat institutions in building an inclusive financial ecosystem through productive waqf. The study concludes that waqf construction experts serve as a transformative mechanism for achieving economic and social goals in modern Islamic philanthropy.

Digital Financial Inclusion in Islamic Boarding Schools Practices, Challenges, and Socioeconomic Impacts on Indonesian Student

Khotibul Umam — 2025-12-22

This study analyzes digital financial inclusion practices in Islamic boarding schools, examining challenges and socioeconomic impacts on students. The research addresses the literature gap regarding digital financial service implementation in Islamic educational institutions and their effectiveness in promoting financial literacy among student communities. A qualitative approach was employed with two Islamic boarding schools: Pondok Pesantren Puncak Darussalam and Pondok Pesantren Al Amien Prenduen. Data collection involved comprehensive in-depth interviews, direct observations, and extensive documentation, analyzed through systematic data reduction and triangulation methods to ensure validity and reliability of findings. Digital financial inclusion significantly facilitates financial transactions, enhances student financial literacy, and reduces cash dependency among student. However, limited technological infrastructure and low parental financial literacy present substantial implementation challenges requiring attention. The positive socioeconomic impact manifests through improved student financial literacy, encouraging wiser financial management practices that can foster greater economic independence for future sustainability.

Mosque Transformation for Community Economic Empowerment: Integrating Islamic Social Finance, Digitalization, and Pentahelix Collaboration

Aforisma Mulauddin — 2025-12-22

Mosques have a long-standing history as the center of Islamic civilization, including in economic activities. However, their strategic role has been reduced to mere places of ritual worship. This article aims to formulate an integrated conceptual model of economic empowerment based on mosques, incorporating Islamic social finance, digital transformation, and multi-stakeholder collaboration (pentahelix). The study employs a qualitative library research method with a conceptual analysis approach. Findings reveal that mosques hold great potential as centers of economic empowerment through the optimization of ZISWAF instruments, digital technologies such as fintech and mosque management applications, and synergy among academia, business, government, community, and media. Case studies from Jogokariyan Mosque, Al-Falah Mosque Seoul, and Bintaro Jaya Grand Mosque demonstrate the successful implementation of such models in various contexts. The article proposes financial, social, and technological evaluation indicators to assess model effectiveness. Consequently, mosques can emerge as adaptive beacons of economic empowerment in the digital era.

Adoption of UTAUT3 Model on the Use of BSI Mobile Application

Daneza Dhea Ananda Putri — 2025-12-22

This research is used to examine the variables that determine user intention in adopting BSI Mobile services as a digital payment platform through the UTAUT3 construct model. This type of research is quantitative, with a research sample of 245 respondents as the primary data source using a questionnaire survey. Data analysis using SmartPLS software. The research findings show that there are variables that have a significant influence, namely the variables of performance expectations, social influence, habits, and personal innovation on behavioural intentions, as well as facilitating conditions, habits, and behavioural intentions on usage behaviour. Meanwhile, variables that do not have a significant impact are effort expectations, hedonic motivation, price value, and facilitating conditions on behavioural intention, as well as personal innovation on usage behaviour. This research contributes to knowing the link between how the behaviour of BSI Mobile service users as a guide for platform owners and users to develop better services and the Indonesian people in choosing the use of digital payments, as well as spreading the literacy of using the BSI Mobile application.

Keywords: UTAUT3; BSI Mobile; SEM-PLS.

Abstrak:

Penelitian ini digunakan untuk mengkaji variabel penentu niat pengguna dalam mengadopsi layanan BSI Mobile sebagai platform pembayaran digital melalui model konstruk UTAUT3. Jenis penelitian ini adalah kuantitatif, dengan sampel penelitian sejumlah 245 responden sebagai sumber data primer menggunakan survei kuesioner. Analisis data menggunakan software SmartPLS. Temuan penelitian menunjukkan bahwa terdapat variabel yang memiliki pengaruh signifikan yaitu variabel harapan kinerja, pengaruh sosial, kebiasaan, dan inovasi pribadi terhadap niat berperilaku, serta kondisi yang memfasilitasi, kebiasaan, dan niat berperilaku terhadap perilaku penggunaan. Sedangkan variabel yang tidak memiliki dampak signifikan yaitu harapan usaha, motivasi hedonis, nilai harga, dan kondisi yang memfasilitasi terhadap niat berperilaku, serta inovasi pribadi terhadap perilaku penggunaan. Penelitian ini berkontribusi untuk mengetahui kaitan antara bagaimana perilaku pengguna layanan BSI Mobile sebagai panduan untuk pemilik platform maupun pengguna untuk mengembangkan layanan yang lebih baik serta masyarakat Indonesia dalam memilih penggunaan pembayaran secara digital, sekaligus menyebarkan literasi penggunaan aplikasi BSI Mobile.

Kata Kunci: UTAUT3; BSI Mobile; SEM-PLS.

A Critical Appraisal of Product Innovation in Islamic Banking: Navigating Market Pressures, Ensuring Shariah Compliance, and Advancing the Objectives of Maqasid al-Shariah

Ismaulina — 2026-01-04

This article presents a critical evaluation of product innovation in Islamic banking, focusing on the imbalance between market demands, sharia compliance, and the realization of maqashid al-shariah. The study aims to assess the extent to which Islamic banking innovations can maintain a balanced integration of commercial objectives, legal-formal compliance, and the substantive values of maqashid. Employing a descriptive qualitative approach through case studies of several Islamic banks in Indonesia, the research gathers data from annual reports and strategic publications. Analysis is conducted using the Maqashid-Based Innovation Evaluation Model (MBIEM), which encompasses three core dimensions: market orientation, sharia compliance, and alignment with maqashid. Findings reveal a significant gap between formalistic compliance and the actual implementation of maqashid. Value-based innovations such as qardhul hasan financing and digital zakat platforms are found to better embody maqashid values than products driven solely by legal-formal considerations. The study recommends reinforcing maqashid-oriented regulations, involving the Sharia Supervisory Board (SSB) early in product development, enhancing the multidisciplinary competencies of human resources, and developing a substance-based sharia audit framework. With these strategies, Islamic banking innovations are expected to become more ethical, inclusive, and sustainable, while fulfilling their socio-economic role in accordance with Islamic principles

CEISE Model: Integrating Islamic Values and Community Engagement for Service Excellence in Baitul Mal Wa Tamwil

Muktirrahman Muktirrahman — 2026-01-12

Baitul Mal wa Tamwil (BMT) as Islamic microfinance institutions face challenges in creating sustainable service differentiation amid increasingly intense financial sector competition. This research develops the Community-Embedded Islamic Service Excellence (CEISE) Model as a theoretical framework to understand how the integration of Islamic values and community engagement creates competitive advantages in BMT operations. Using a qualitative case study approach at BMT NU East Java Pasongsongan Branch, the study involved in-depth interviews with 10 staff members and 15 customers, observation, and document analysis. Data were analyzed using the Miles and Huberman thematic analysis framework. Findings demonstrate that CEISE Model implementation through four main dimensions: Spiritual Service Dimension (SSD), Community Integration Mechanism (CIM), Adaptive Accessibility Framework (AAF), and Sustainable Intimacy Balance (SIB) successfully creates distinctive value propositions. Service innovations such as "door-to-door service" systems (73% utilization), temporal flexibility (67% staff), and Islamic values-based approaches resulted in 89% customer retention, +73 Net Promoter Score, and 56% community participation. Integration of Islamic values (justice, trustworthiness, excellence, public interest) at every service touchpoint creates emotional bonds transcending transactional relationships. This research provides theoretical contribution through CEISE Model development filling literature gaps on service excellence in religious-cultural contexts and practically provides strategic framework for BMT service optimization.