Indonesia Conference Directory

Corresponding Author
Rizal Yaya

Institutions
(a) Department of Accounting, Universitas Muhammadiyah Yogyakarta, *r.yaya[at]umy.ac.id
(b) Department of Accounting, Universitas Muhammadiyah Yogyakarta

Abstract
Islamic Social Reporting has been promoted as instrument to encourage business entities to comply with Islamic teachings. The objective of this research is to obtain empirical evidence about factors that influence of Islamic Social Reporting disclosure for companies listed in Indonesia Sharia Stock Index. Population of this study is all companies listed during 2015-2016. The 163 samples were selected based on purposive sampling and the analysis was conducted by multiple regression method. The result shows that the company size and the issuance of Islamic securities have positive effects on the disclosure of Islamic Social Reporting. On the other hand profitability, leverage and the size of commissioner board do not have effect on the disclosure of Islamic Social Reporting

Keywords
Islamic Social Reporting (ISR); Company Size; Profitability; Size of Commissioner board; Islamic Securities; Leverage

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/Mncm4ge3RAGU

Corresponding Author
Sahraman Hadji Latif

Institutions
- Graduate Student, Hamad Bin Khalifa University, Doha, Qatar
-Lecturer, Mindanao State University Main Campus, Marawi City, Philippines

Abstract
As the potentials of halal industry rising globally, development and promotion of halal industry in the Philippines is vitally exigent. The country has lagged behind in developing halal industry compared to other ASEAN countries. The Philippines is overwhelmingly dominated by Christians, with increasing number of Muslims of around 10 percent of its population. As more Filipinos have become conscious about selection of foods and drinks for health and religious reasons, halal products become good alternative. However, due to less emphasis on the importance of the development of halal industry and low public awareness and dire perceptions towards the authenticity of halal products labeling and services in the country, Muslims in the country particularly the millennials are not considerable in differentiating between halal and non-halal products. Moreover, due to the absence of strict compliance for halal certification and labeling in the country, halal products and services are become inappreciable and negligible for consumers. Hence, this study aims to determine and analyze the level of knowledge of the consumer Muslim millennials towards Halal as well as the factors that influence their behavior in selecting halal products and services. Self-administered questionnaire will be distributed to 200 millennials in Marawi City and the data will be analyzed using SPSS. The findings of this study are indispensable in strengthening and promotion of halal industry in the country.

Keywords
Millennials, the Philippines, Halal product labeling, knowledge, Behavior

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/2jHhzmVF9RGP

Corresponding Author
Mulhadi Mulhadi

Institutions
Civil Law Department, Faculty of Law, Universitas Sumatera Utara

Abstract
Based on partnership principles, partnership agreements can take place when one or more people have the same interests and awareness to work together to achieve common interests. This study uses a normative juridical approach, which is nature descriptive because it seeks to explain clearly the pattern of the agreement for the results of establishing 212 Mart supermarkets, where the population is 575 agreement documents. The sample selection was determined purposively because of the form and content of the same agreement from each investor from several 212 Mart Supermarkets that had been established in Medan City. Based on research shown that partnership agreement 212 Mart has several legal character namely that partnership agreement 212 mart was identified as an unnamed (anonymous) agreement, reciprocal agreement, as an agreement which gave birth to new partnerships, and jamaat-based agreements.

Keywords
legal characters; partnership agreement;212 mart

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/hzpUBEgZMRfv

Corresponding Author
Pamela Fuentes Resurreccion

Institutions
Mindanao State University-Iligan Institute of Technology

Abstract
Globally, logistics and supply chain have emerged as significant growth factors in most nations. The role of logistics in the economy is that it supports the movement and flow of many economic transactions. It is an important activity that facilitates the sale of practically all goods and services and consequently boosts the competitiveness of a country in terms of potential inflows of investments and productivity. Improving the efficiency of logistics operations has been posited to make an important contribution to the economy as a whole. Hence, this study aims to examine the relationship of country-level logistics performance indicators to economic growth. Using panel data regression analysis on the Logistics Performance Index (LPI) scores and Gross Domestic Product (GDP) of 146 countries for the years 2010, 2012, 2014 and 2016, it was found that the quality of trade and transport infrastructure. Control variables - manufacturing value added and inflation were also found to be significant predictors, contributing positively to GDP. Corresponding policies are proposed.

Keywords
logistics, logistics performance, economic growth, productivity, panel data regression analysis

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/D93mh2CuJaGv

Corresponding Author
Nizar Hosfaikoni Hadi

Institutions
a) Student of Master Programme of Science in Islamic Economics, Economics and Business Faculty, Airlangga University
Jl. Airlangga No.4 - 6, Airlangga, Gubeng, Kota SBY, Jawa Timur 60115
*nizar.hosfaikoni.hadi-2018[at]pasca.unair.ac.id
b)Lecturer of Department Shariah Economics, Airlangga University
c) Student of Master Programme of Science in Islamic Economics, Economics and Business Faculty, Airlangga University
Jl. Airlangga No.4 - 6, Airlangga, Gubeng, Kota SBY, Jawa Timur 60115

Abstract
Bank Muamalat was the first sharia bank to appear in 1992, and successfully passed the 1998 crisis. This bank is also among the most protected banks from negative spreads and does not need to be given any liquidity assistance by Bank Indonesia. Bank Muamalat has spread to almost all cities in Indonesia, including in Malang. The study aims to determine the interest of the people of Malang city on Bank Muamalat products. The population of this study is the people of Malang. The sampling technique uses purposive random sampling, while the object of this research is Bank Muamalat products, Data collection uses techniques, interviews and questionnaires. Data analysis techniques use quantitative descriptive. The results of this study state that the enthusiasm of the Malang community towards Islamic banks is very high. The three types of products that have the greatest interest are Murabahah and Mmq for service financing, then Special Ratio Deposits for third-party funds. Malang people are very eager to move from conventional banks to Bank Muamalat products

Keywords
Malang City Residents, Bank Muamalat Products, Enthusiasm

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/CU42PmXMNHhJ

Corresponding Author
Marlina Ekawaty

Institutions
University of Brawijaya

Abstract
Although BAZNAS (Badan Amil Zakat Nasional) and LAZ (Lembaga Amil Zakat) are the zakat management institutions set forth in the Law (Number 38, 1999 and Number 23, 2011), but some studies show that the percentage of muzakki paying zakat to BAZNAS and LAZ is still low, that is 10.50% (PIRAC, 2005), 2.40% (Wira, 2005), and 7.20% (PIRAC, 2008). While the payment of zakat through the mosque around the residence is high, namely: 64% (PIRAC, 2005), and 59.8% (PIRAC, 2008). From zakat management aspect of zakat by the mosque is still traditional (passive, temporary, consumptive). The fact raises the question: how is the actual management of zakat by BAZNAS, LAZ, and mosques?. This paper aims to (1) find out the form and composition of the management institution of zakat, (2) to analyze the management of zakat by institutions both collecting and distributing it, (3) analyzing planning activities, organizing and supervising zakat institution. This study uses a qualitative approach and is conducted in Malang. The data were collected by distributing questionnaires and interviewing BAZNAS (1), LAZ (7) and mosque (5) administrators. The results show that: First, in Malang City there are at least 112 zakat institutions, consisting of 1 BAZNAS, 18 LAZ, 10 institutional baitul mal, 7 orphanages, 8 Islamic boarding school and 7 other institutions. Secondly, besides managing zakat, infaq, and sadaqah funds such as BAZNAS and mosques, LAZ also manage the fund of idul adha and some of them include wakaf. Most fundraising is done monthly passively and actively from muzakki which is not limited by location of residence. Payment of zakat through banking is only given by LAZ and one mosque (Sabilillah). The amount of funds collected about 75% comes from LAZ. Thirdly, no zakat institution distributes to the eight asnaf zakat, the number of asnaf that accepts zakat 3-7 asnaf and all allocates to the poor and needy asnaf. Only LAZ Baitul Ummah has ever distributed funds for asnaf slave. Distribution of funds is done every month except BAZNAS, Great Mosque of Malang City for consumption and production purposes. Fourth, in terms of planning, the implementation of collection and distribution, organizing, and supervision found that LAZ is better than BAZNAS and mosque. The results of this study lead to four implications. First, the number of civil servants in the work area BAZNAS Malang and completeness of the organization then BAZNAS need to improve the management of zakat. Secondly, there is a considerable amount of LAZ, so to maximize the benefits of zakat it is necessary to coordinate. Third, the good management of zakat by LAZ and the number of muzakki paying zakat through the mosque, it is necessary to do cooperation between the mosque and LAZ in the management of zakat. Fourth, the amount of funds that can be collected compared to social assistance provided by the Government, it is necessary to coordinate between the Government and the institution of zakat.

Keywords
Management of Zakat, Formal Institution of Zakat, Mosque, Zakat Management in Indonesia

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/a9wEYP2D8Kkg

Corresponding Author
Tiffani Khairani

Institutions
(a) Faculty of Economics and Management, Institut Pertanian Bogor, Dramaga, Bogor 16680, Indonesia

Abstract
Islamic banking in Indonesia continues to grow rapidly. This development can be seen from an institutional and financial perspective. Islamic banks as a business entity that operates on the basis of Islamic values and ethical systems, are not only required to obtain profits, but also are obliged to pay attention to their functions and objectives based on the maqashid sharia concept. This study aims to analyze the performance of Islamic banks in Indonesia based on the maqashid sharia index and analyze the influence of maqashid sharia index and financial performance on the profitability of Islamic banks. This research was conducted at eight Islamic banks selected by purposive sampling technique. The analytical tool used in this study are maqashid syariah index, comparative performance index, and panel data regression analysis. Based on the results of the calculation of maqashid sharia index, it is known that the three Islamic banks that have highest maqashid shariah index are Bank Victoria Syariah, Bank Muamalat Indonesia, and BCA Syariah. While based on the results of panel data regression, it is known that the establishing justice performance index (IK2), NPF, and FDR have significant and negative effect on the ROA of Islamic banks.

Keywords
Islamic bank; maqashid sharia index; financial performance; profitability

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/HwpdK3DfQcVJ

Corresponding Author
Sri Maryati

Institutions
Economics Department, Faculty of Economic, Andalas University

Abstract
The aims of this study are to measure Maqashid Sharia Index (MSI) and Profitability Index (PI) of Sharia Banks in Indonesia on period 2014 until 2017. This research consists of four step of analysis, namely 1) Maqashid Sharia Index (MSI) to measure the sharia compliance of the banks, 2) Comparative Performance Index (CPI) to measure the profitability index of the sharia banks, 3) Correlation analysis to measure the correlation between sharia compliance and profitability of sharia banks and the last is grouping the sharia bank based on the sharia compliance and profitability that are achieved by using Klassen Typology framework. The object of research consists of twelve Sharia Commercial Banks (BUS) in Indonesia with annual data 2014 to 2017. The result of this research show that BRIS is the bank that have highest MSI by the average value 0.4355 per year on the period 2014-2017. The second and third places are BTPNS and BNIS by the average value 0.4206 and 0.4006, while the lowest is BMSI (0.3354). Then the sharia banks that have the best profitability performance is BTPNS with alternative values 95.78. The second and third place are BNIS (40.92) and BMS (33.58), while the lowest is BMSI (-47.65).

Keywords
Sharia Banks, Maqashid Sharia Index, Comparative Performance Index, Klassen Typology.

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/LzBj7GyAEaFn

Corresponding Author
Ridho Illahidaredmi

Institutions
Economics Department, Faculty of Economic, Andalas University

Abstract
As a business entity that is based on sharia, the sharia bank should be carried out operational activities in accordance with the provisions of Islamic religion to achieve Maqashid Sharia. It becomes the evidence to distinguish both conventional and sharia bank. The aims of this study is to measure the sharia banks performance based on Maqashid Sharia Index that is developed by Mohammed, et al (2008). The object of research consists of twelve Sharia Commercial Banks (BUS) in Indonesia with annual data 2014 to 2017. The result of this research show that the value of MSI for sharia commercial bank in Indonesia on period 2014-2017 were 0.4169, 0.3677, 0.3756, and 0.3754 respectively. The MSI trend relatively decline on that period. BRIS is the bank that have highest MSI by the average value 0.4355 per year on the period 2014-2017. The second and third places are BTPNS and BNIS by the average value 0.4206 and 0.4006, while the lowest is BMSI (0.3354).

Keywords
Islamic Religion, Sharia Commercial Banks, Maqashid Sharia Index.

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/xTcvtUhEB3C6

Corresponding Author
musdholifah musdholifah

Institutions
universitas negeri surabaya

Abstract
As an institution that plays an important role in the economic system, especially in the flow of payments, banks have various risk exposures inherent in it. This condition is also supported by the digitization of banking services, so that banks are connected to one another. Inter-bank interaction will cause interbank risk exposure to be higher through the interbank market, so that contagion risk and the opportunity for systemic risks between banks will also be higher if a bank experiences a default. This study aims to determine the effect of contagion on banks in Indonesia. The sample selection criteria in this study are conventional banks that provide annual reports from 2007 to 2016, thus obtaining 18 banks as research samples. The measurement of contagion effect is done by using the financial contagion risk index and tested using the Vector Autoregression method. The results showed that there was a one-way causality pattern between banks in the study sample including BCA with Bank Mayapada, Maybank Bank, Bank Mega, and Bank Resona Perdania, then Bank CIMB Niaga with BCA, BRI, BNI, BTN, Commonwealth Bank, J-Trust Bank, KEB Hana Bank, Mega Bank and Permata Bank. While two-way causality occurs between Bank BCA and Bank Mandiri and vice versa. In addition, the impact of risk pressure from a bank is not always positive, but in some case, it is also negative, which means that the bank can actually take advantage of the shock conditions experienced by other banks.

Keywords
contagion, systemic risk, interbank market, banking institution, shock

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/cFz8UhYDJMkj

Corresponding Author
Mochammad Arif Budiman

Institutions
a) Department of Accounting for Islamic Financial Institutions, Politeknik Negeri Banjarmasin,
Jl. Brigjend. H. Hasan Basri, Banjarmasin 70123, Indonesia
*m.arif.budiman[at]poliban.ac.id

b) Kulliyyah of Economics and Management Sciences, International Islamic University Malaysia,
PO. Box 10, 50728, Kuala Lumpur, Malaysia

Abstract
Development from the Islamic perspective combines both the material-physical dimension and spiritual-ethical dimension in a comprehensive approach. This holistic approach of development that strives for the enhancement of human welfare is best discussed within the framework of Maqasid al-Shari-ah. Therefore, the level of development can be more comprehensively measured using the Maqasid al-Shari-ah approach. The objective of this study is to assess the level of development of Muslim society in South Kalimantan province, Indonesia. This study uses primary data collection by means of a survey. The data is analyzed using principal component analysis and confirmatory factor analysis. Subsequently, structural equation modeling is employed for testing the hypotheses. The findings of this study show that the Muslim society in this province has a high level of development as measured by the Maqasid al-Shari-ah approach. This study proposes some recommendations for policymakers to further enhance the level of development of the society in all areas of life.

Keywords
development, Islamic perspective, Maqasid al-Shari-ah, Muslim society

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/qHKp76zfDdbT

Corresponding Author
Amelia Pratiwi

Institutions
Department of Sharia Economics, Faculty of Islamic Studies, Universitas Muhammadiyah Yogyakarta

Abstract
This study aims to measure the efficiency of Islamic cooperatives in the Special Region of Yogyakarta (DIY) during 2016-2017. There are 16 Islamic co-operatives being analyzed which are selected based on the purposive sampling method. Then the data of financial reports from those institutions are analysed with data envelopment analysis (DEA) with an intermediation approach in answering the research questions. The input variables being analyzed in this study are total deposits and operating costs, while the output variables are financing and other operating income. The results show that most of these microfinance institutions had poor financial performance. In addition, it was also identified that only 19% of the total 16 Islamic cooperatives had a high efficiency in their operating activity. In increasing the efficiency of Islamic cooperatives, the potential variable which could be developed is other operating income, while the operational costs are expected to be reduced, given the results of further financial report analysis that operating expenses have the most substantial proportion of the total Islamic co-operatives costs.

Keywords
Efficiency, Islamic co-operatives, data envelopment analysis, intermediation approach, financial report

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/3KQbtY2LGAVa

Corresponding Author
Dyah Titis Kusuma Wardani

Institutions
Department of Development Economics, Faculty of Economics and Business, Universitas Muhammadiyah Yogyakarta, Jalan Brawijaya, Tamantirto, Kasihan, Bantul, Daerah Istimewa Yogyakarta, Indonesia 55183
*dyahtitis.wardani[at]gmail.com

Abstract
The world is now entering the era of industrial revolution 4.0, which emphasizes the pattern of digital economy, artificial intelligence, big data and robots or commonly known as the phenomenon of innovation chaos. With the rapid development of electronics, Information and Communication Technology (ICT), better known as ICT-based electronic advances, this has an impact on international and domestic trade. There is progress in ICT, in this case making distance less influential in trade. This is because there is no need for meetings or face-to-face meetings because they have been replaced by electronic mail or cell phones. In this study, we want to examine the impact of ICT on international trade, especially the total service trade between the ten highest service sector exporters to Indonesia. This study uses a panel data with gravity model framework for the period of 2012-2016. The results show that, ICT has a positive and significant impact on export of ten countries services to Indonesia. Other variables such as the GDP of the exporting country have a positive effect on trade service, while export destination countries have negative effect on trade services. In addition, distance, has negative and significant effect on service trade. This is in line with the gravity model theory, whether distance has negative relationship on trade In this case, distance represents transportation cost. Country characteristic such as openness of exporters has a positive and significant effect on service trade. In contrast, openness of destination country has negative and significant effect on service exports to Indonesia.

Keywords
Information and Communication Technology (ICT); Service trade; Gravity model; Disruptive innovation

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/HhAwjuexnr3m

Corresponding Author
Achmad Muchaddam Fahham

Institutions
a) Indonesian House of Representatives Expertise Research Center, Jakarta
*achmad.fahham[at]gmail.com
b) Indonesian House of Representatives Expertise Research Center, Jakarta
c) Indonesian House of Representatives Expertise Research Center, Jakarta

Abstract
For rural communities and micro-entrepreneurs, access to formal financial institutions is a very difficult. So, borrowing to moneylenders is the most possible way to fullfill their needs. But actually it does not solve their problems, precisely their problems are increasing because they have to pay at very high interest rates. For this reason, microfinance institution is verry important as a solution for rural communities and micro-entrepreneurs who need loans to fullfill their needs. This paper aims to describe the role of micro waqf banks in Indonesia as an alternative funding for rural communities and micro-entrepreneurs. This research is descriptive using a qualitative approach. The interview technique was also carried out with key informants who understood sharia microfinance institutions. The results of the study revealed that the micro waqf bank is Islamic microfinance institutions which targeted the micro business sector by channeling small financing with a maximum financing of Rp1 million. The funding of this micro waqf bank comes from donors who donate funds through the Amil Zakat institution. The margins imposed on borrowers are as high as 3 percent per year, with payment schemes in installments every week so it is make easier for borrower. In addition financing is followed by training and mentoring so that borrower are able to utilize the loan for productive business activities. In the end, it is hoped that this micro waqf bank can become an incubator for micro businesses in Indonesia.

Keywords
micro business, micro waqf banks, micro-entrepreneurs, amil zakat institution

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/KgkEytDqTPnc

Corresponding Author
Inayah Swasti Ratih

Institutions
(1),(2) UNIVERSITAS AIRLANGGA

Abstract
In achieving sustainable development goals in a country, the role of each institution must be optimal, one of the roles of social institutions that currently has considerable potential in improving the SDGs, namely the existence of productive waqf models. Productive waqf is a scheme of donating endowments for the ummah, namely by producing these donations to produce a sustainable surplus. This study aims to analyze the models of the application of productive waqf carried out by social institutions in Indonesia and their influence on the SDGs. The research method used is literature study, that whose data and information are obtained from library sources originating from books, research results, journals and other reading materials that still have relevance to the topic of this research. The implication of this research is as an evaluation material for waqf institutions to develop productive waqf models and as a reference for the government and other institutions in synergizing to achieve the SDGs goals.

Keywords
Waqf, Productive Waqf, SDGs, Islamic Social Finance

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/P8Rj3npzB9Dt

Corresponding Author
Prayogi R. Saputra

Institutions
Raden Rahmat Islamic University

Abstract
The sharing economy platform is a concept that is not yet stable and will continue to grow. This is evidenced by the various types of the sharing economy platforms developed, especially in Indonesia. This research answers the question of how the typology of the sharing economy platform model in Indonesia. The theoretical contribution of this research is the categorization of the sharing economy model in Indonesia, given that there is no research that presents the generic typology as intended. While its practical contribution is provides investors with suggestions about model of the sharing economy that is relevant for the Indonesian market. The foundation model of the sharing economy used consists of four models taking into account the level of control of the company towards participant and the level of competition between participant. Typology was developed through qualitative analysis of data obtained by observing the four unicorn sharing economy companies from Indonesia from different platforms. From the results of this study, we will know the typology of the platform sharing economy model that is developing in Indonesia. So that it is expected to be a reference for business development towards the era of industrial revolution 4.0.

Keywords
sharing economy, model of the sharing economy

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/pJKrA3UTaLRN

Corresponding Author
Luliyatul Mutmainah

Institutions
School of Strategic and Global Studies, University of Indonesia
Jalan Salemba Raya No 4, Jakarta 10430, Indonesia
sakinah.lym[at]gmail.com

Abstract
Financial Technology (fintech) has been a part of human life. Fintech becomes a solution of human needs without limits of space and time. Fintech makes it easy for people especially millenials to make donation. This study aims to explore the factors that influence Muslim millenials intention in giving donation through fintech. This study uses an integration model of Technology Acceptance Model (TAM) and Theory of Planned Behavior (TPB). Online survey is used in this research including 115 Muslim millenials as sample. Data analized by Structural Equation Model (SEM) using Smart PLS. The results indicate that Perceived Usefulness (PU) and Perceived Ease of Use (PEoU) have no significant effect on Attitude Towards Usage (ATU), Attitude Towards Usage (ATU) has no significant effect on Behavioral Intention (BI), Perceived Usefullness (PU), Subjective Norm (SN) and Perceived Behavioral Control (PBC) significantly have a positive effect on Behavioral Intention (BI). Overall fintech improves Muslim millenials intention to make donation easily and almost all of respondents know about fintech, even not all of the use fintech to donate. This research contributes both theoretically and practically.

Keywords
fintech; millenials; donation; intention

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/haHGDczkt6Qr

Corresponding Author
Imam Noor Said

Institutions
a*) Faculty of Social Science Education, Ivet University, Jalan Pawiyatan Luhur I, Semarang 50235, Indonesia
*lilimarliyah[at]rocketmail.com

b) Faculty of Economics and Business, Diponegoro University, Jalan Hayam Wuruk 5, Semarang 50241, Indonesia

Abstract
The industrial revolution 4.0 estimated to be able to grow a countrys economy 1-2% more than the average of countrys economic growth per year. Indonesia has economic growth 5% per year, estimated to increase 6-7% per year. The government of Indonesia has designed Making Indonesia 4.0 by placing 5 sectors as leading sectors, including: food, chemical, automotive, textile and electronic sectors. The most of food sector involve workers 80% in UMKM. In this case should be the governments focus fundamentally in the effort to join industry 4.0. The difficulties of UMKM such as funding must have a solution that does not have a negative impact on the national economy (debt to other countries). Therefore, waqf is one of the potential solutions in the country with management arranged neatly nationally, so that on a national scale endowments can be a source of funds that used to help grow the countrys economy. In addition, waqf can also reduce inequality that occurs in the community, this is because the results of waqf will partly help the poor. Waqf can be integrated in the Making Indonesia 4.0 program with a positive impact on the economy, there is reducing investment in the form of foreign debt, increasing economic growth, and preventing inequality by distributing endowments to the poor. Therefore, Making Indonesia 4.0 requires support and participation from all elements of society so that it can be immediately realized to improve the countrys economy in order to improve peoples welfare.

Keywords
Waqf, UMKM, development, industry 4.0

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/xJVgnBmY2jcR

Corresponding Author
Shelvy Taurusiana Aziz S.M

Institutions
Telkom University
Faculty of Economic and Business
Management Business Major

Abstract
The increasing number of internet users is quite significant from year to year affecting the changing lifestyles of society. the increase in the number of internet users turned out to include an increase in online buying and selling transactions in Indonesia. Especially in the 6 popular e-commerce in Indonesia, namely Tokopedia, Bukalapak, Shopee, Lazada, Blibli and JD.ID. Who compete to provide the best offer to consumers. This study aims to determine the perception of mapping from six e-commerce brands in Indonesia, namely Tokopedia, Bukalapak, Shopee, Lazada, Blibli and JD.ID based on consumer perceptions in Indonesia. This consumer perception is measured by six attributes, namely usability, trust, merchandise assortments, service, promotion and security. The research method used is a quantitative method with a descriptive type. The method of data collection was done through the distribution of online questionnaires to respondents in Indonesia, as many as 400 respondents. The sampling used is non probability with purposive sampling. The data analysis technique used is Multidimensional Scaling (MDS) or perceptual mapping. The results of the study show that Tokopedia occupies the first position that is superior to trust attributes, service, and security. Shopee ranks second and excels at attributes usability, merchandise assortment, and promotions. then the third position was followed by Bukalapak, fourth place was filled by Lazada, Blibli was in the fifth position, and JD.ID was in the last position. Suggestions given by Tokopedia and Shopee must continue to maintain excellence in each attribute and improve the attributes those are in the second or third position, so that it still has a good perception in the minds of consumers. As for Bukalapak, Lazada, Blibli and JD.ID it is recommended to try harder and improve deficiencies in each attribute in order to get a good perception in the minds of consumers.

Keywords
Perception, Perceptual Mapping, Multidimensional Scaling, E-commerce.

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/NQ4mHAWwdhug

Corresponding Author
KHALIFAH MUHAMAD ALI

Institutions
(a*) Department of Islamic Economics, Faculty of Economics and Management, IPB University, Indonesia
khalifahma[at]apps.ipb.ac.id
(b) Department of Landscape Architecture, Faculty of Agriculture, IPB University, Indonesia
(c) Institute of Islamic Banking and Finance (IIiBF), International Islamic University, Malaysia

Abstract
In 2015, zakat potential in Indonesia was estimated IDR 286 trillion, while the actual zakat collected was only IDR 3.75 trilion. This fact shows that zakat institutions have to enhance its performance continuously to raise its potential funds. Although zakat is becoming a trending research topic currently, studies conducted to assess the performance of zakat institutions based on Zakat National Index (NZI) as a new tool developed by National Zakat Board of Indonesia (BAZNAS) for assessing zakat management performance are still scarce, particularly in South Borneo. The objective of this study was to assess and evaluate the performance of zakat management including the contribution of government, contribution of society, zakat institution performance, and the impact of zakat on the societys prosperity in Kotabaru Regency, South Borneo. Purposive sampling method, structured questionnaire, and ZNI as an assessment tool with the Multi-Stage Weighted Index were used in present study. The result of the study showed that zakat management performance in Kotabaru Regency, South Borneo was considered to be good with the index value 0.66.

Keywords
National Zakat Index (ZNI), zakat management performance

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/h3yCNbxn9BEj

Corresponding Author
Syadan Ismail

Institutions
UNPAD

Abstract
Penelitian ini dilakukan untuk mengetahui skema perjajian, model pembiayaan dan mitigasi risiko hukum perjanjian Build Operate and Transfer (BOT) dalam pengelolaan wakaf produktif di Indonesia. Penelitian ini dilakukan dengan menggunakan pendekatan yuridis normatif yaitu dengan melakukan kajian terhadap beberapa peraturan perundang-undangan tentng BOT dan Wakaf dilengkapi dengan kajian pustaka tentang managemen pengelolaan wakaf yang dimiliki oleh Tabung Haji Malaysia dan wakaf Singapura. Setelah dilaksanakan penelitian dapat disimpulkan bahwa perjanjian konsesi model BOT dalam pengelolaan wakaf di Indonesia sejalan dengan fikih dan hukum positif. Perjanjian BOT masuk dalam kategori perjanjian tidak bernama (onvenoemde overeenkomst). Dalam praktiknya perjanjian BOT antara managemen wakaf dengan investor dapat melibatkan lembaga pembiayaan syariah dengan akad mudharabah, musyarakah dan lain lain. Dalam hal terjadi sengketa maka para pihak dapat menempuh jalur non litigasi melalui penyelesaian sengketa alternative seperti musyawarah, mediasi dan arbitrase syariah atau jalur litigasi di Pengadian Agama sebagaimana disepakati dalam perjanjian BOT.

Keywords
Pembiayaan

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/xHgvydqhwDaA

Corresponding Author
Saykha Sabila Araz

Institutions
Department of Development Economics, Faculty of Economics and Business, Universitas Muhammadiyah Yogyakarta, Jalan Brawijaya, Tamantirto, Kasihan, Bantul, Daerah Istimewa Yogyakarta, Indonesia 55183

*dyahtitis.wardani[at]gmail.com

Abstract
This paper analyzes the effect of Free Trade and Regional Trade Agreement, openness, democracy and governance of Indonesia and Turkey bilateral trade toward OIC countries in disruptive era. The Gravity model is used to analyze the effect of FTA and RTA on trade flows. Instead of standard gravity model that use three basic variables such as RGDP reporter, RGDP partners and distance. We use extended gravity model equation by add more variables such as population as country-s characteristic also exchange rate and inflation as macroeconomics variables. In this Gravity model, this research employs economic factors such as RTA and openness. Moreover, we use political factors such as democracy and governance (e.g., political stability) to enforce the political economy analysis of international trade. Dependent variable of this gravity model is total value of export ($US). Data of trade flow of export from Indonesia and Turkey toward OIC countries is obtained from UN-COMTRADE using Standard International Trade Classification (SITC) Rev.2-3 digits. Employing random effect, Maximum Likelihood Estimation (MLE) and Poisson Pseudo Maximum Likelihood (PPML), results show that this model robust for every estimation. Result also show that, some FTAs and RTAs of Indonesia and Turkey are ineffective due to overlapping. Turkey also has the same situation, since Turkey also has FTA and RTA with other economic community outside the OIC countries.

Keywords
Regional Trade Agreement (RTA); Panel data; Gravity model

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/6rRnTycqDBYu

Corresponding Author
Aqidah Asri Suwarsi

Institutions
Universitas Muhammadiyah Yogyakarta

Abstract
MSMEs are part of the supporting aspects of the countrys economy. Over the past five years, the level of absorption of labor in the MSME sector grew from 96.99 percent to 97.22 percent. However, the competitiveness of MSMEs in Indonesia towards the global economy still tends to be low when compared to other ASEAN countries. This is caused by low levels of education and expertise, difficulties in obtaining licensing for MSMEs, lack of access to capital, and lack of infrastructure support. One of the aspects that should not go unnoticed in the field of education and expertise in financial literacy levels of society whose activities cannot be separated from financial institutions. The purpose of this research is not just to analyze, to classify the level of MSME Islamic financial literacy. However, the research also this it aims to determine the impact on the development of Islamic financial literacy. The approach of this research is quantitative descriptive with 1392 samples, obtained by using cluster random sampling technique in the DIY province. The results of this study are the level of DIY MSME Islamic financial literacy in the Less Literate category. The effect on the business developing had a positive and significant influence amounted to 36.1%. With this finding, it is expected to be an input for regulators in the framework of planning and implementing policies related to Islamic financial literacy. Keyword: Islamic Financial Literacy, micro, small and medium enterprises JEL Classification: D14, G2

Keywords
Islamic financial Literacy , MSMEs

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/F87rXe2G6JBn

Corresponding Author
Ferry Wahyu Arladin

Institutions
Student Master On Department Of Sociology
Faculty Of Social And Political Sciense Universitas Airlangga
Surabaya, Indonesia

Abstract
In the household, gender construction still places women in a subordinate position compared to men. injustices experienced by women, such as the ambiguity of the division of labor that defines women as more suitable in domestic space and men in the public space. Domestic space which was previously a source of womens helplessness, in the digital era has been slowly able to improve womens position. Technological advancements make all activities easier, including being productive through an online shop business even if only at home. Online shops specifically become a new world that is occupied by many women in Jombang, East Java. This study focuses on examining the issue of power dynamics in the households of online shop business women in Jombang. This study uses qualitative research methods, data sources were obtained through in-depth interviews with 5 online shop business women in Jombang. The results of the study show that there is a dynamic power relationship in the household of a womans online shop business. In many situations, husbands are still dominant in making important decisions in the household, this is related to patriarchal culture that supports male superiority. On the other hand, online shop business women also have the ability to operate power. The productivity of managing an online shop gives a greater opportunity to get an award. The form of self-autonomy in the women household of online shop business is also proven by better and independent financial arrangements compared to before conducting online business activities.

Keywords
Power Dynamics, Household, Business Women, Online Shop

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/7X3cquKFMQBy

Corresponding Author
Arin Setiyowati

Institutions
a*. Islamic Faculty of Universitas Muhammadiyah Surabaya, Jalan Sutorejo Nomor 59 Surabaya, Indonesia
arin.st[at]fai.um-surabaya.ac.id
b. Islamic Faculty of Universitas Muhammadiyah Surabaya Jalan Sutorejo Nomor 59 Surabaya, Indonesia

Abstract
Halal products become a global issue. Indonesia is a big market for halal products, plus the legalization of regulations on halal products. The attraction between the behavior of consumers and producers on the awareness of making halal products as a lifestyle in their economy further strengthens the position of halal products in Indonesia. This study aimed to motivate the producers behaviour in the production of goods, especially food in Halalan Thoyyiban as a trend among the millennial generation. The case studies were conducted at LAZIZA and Waroeng Steak and Shake (WSS) Surabaya. By using field research, a qualitative approach to the type of case study, through observation, in-depth interviews, documentation, using triangulation of sources, data, and theory was expected to be able to explore data in depth on the producers behaviour, especially the process of producing halal food, thereby attracting consumers by marketing halal food chicken and steak.

Keywords
Produsers behaviour, Halal, LAZIZA, Waroeng Steak and Shake

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/6qbPTtwjAzXf

Corresponding Author
Diswandi Diswandi

Institutions
(a) Universitas Mataram
(b) Universitas Muhammadiyah Yogyakarta

Abstract
Mangrove forest produces ecosystem services that benefit human being such as protection from a tsunami, abrasion, carbon sequestration, place for fish nesting, and also for a recreational purpose. However, the values of mangrove forest including recreational value are often ignored. Several mangrove forests have been converted to other uses that commonly produce a more marketed product such as shrimp farm. As a result, loss of mangrove could lead to massive economic losses for the surrounding community once disaster such as tsunami occurs. This study aims to analyze the recreational value of the mangrove forest and estimates the determinant of tourists willingness-to-pay (WTP) for mangrove conservation. A mangrove forest in West Lombok Indonesia was chosen for the case study. Travel cost method was employed to capture the mangrove recreational value. Meanwhile, a logit regression model was run to estimates the determinant of tourist WTP for mangrove conservation. This study found an average recreational value of mangrove forest as much as IDR 109,000 (USD 7.7) per visitor per day. The tourist age, income, and education are significantly influencing their WTP for mangrove forest conservation. This study recommends the related policy maker to improve tourism facilities to attract more visitor to come.

Keywords
travel cost method; mangrove forest; willingness to pay; conservation; recreation

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/7haqWFTJze3w

Corresponding Author
Irwan Hermawan

Institutions
Nusa Putra University
Jl. Raya Cibolang No.21, Cibolang Kaler, Cisaat, Sukabumi, Indonesia

Abstract
The aim of this paper is examine the Relationship between Macroeconomic Variables with SME Financing in Indonesia, among others Effect of the BI Rate variable on the Growth of SME Islamic Financing, Effect of variable Exchange Rate on Growth of SME Islamic Financing, Influence of the GDP variable on the Growth of SME Islamic Financing. This Research adopts Quantitative approach. The data used in this study is secondary data which is a Time Series Data. The data were collected from Quarterly reporting Financial Service Authority. Relationship between macro variables and the growth of SME Islamic Financing, making macro variables as one indicator that can be used to determine the growth movement of Islamic Banking Financing, the Macro variable includes the BI Rate, Exchange Rate, and GDP. This research expected the development of Islamic economics in Indonesia, especially in the field of Islamic banking sector, by providing additional information to the public about the superiority of the Islamic economic system. This research has important implication for Islamic Banking Sector by informing the influence of Macroeconomic Variable on the Growth of SME Islamic Financing

Keywords
Islamic Banking, Small and Medium Enterprises, Macroeconomic, VAR Analysis

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/zfrkTUPJvxNm

Corresponding Author
Lalu M. Furkan

Institutions
Universitas Mataram

Abstract
Tourism industry plays significant role in the regional economic development in developed and developing countries. This paper clarifies to what extent the Indonesian tourist village industrial cluster have embraced service innovation practices. The qualitative research approach was undertaken in the cluster area. In-depth face to face interview among key informants were implemented in the cluster area. Thus, the triangulation technique was used for explaining the data analysis. This research found the service innovation among the Indonesian tourist village industrial cluster were contributed by the collaboration of the government-university-industry partnership. The collaboration among many different institutions in the cluster area might produce new service concept, new delivery concept and new customer interface which is supported by the ownership of the technology optional in the tourist village industrial cluster. Further result of the new product or services, processes, material, market and organizational were also explained on the paper

Keywords
Service innovation, cluster, small-and medium-sized enterprises

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/FVLf9MtP6wGH

Corresponding Author
Ayu Yuningsih

Institutions
Islamic University of Indonesia

Abstract
Waqf is a means in distributing wealth in order to bring economic welfare to communities. Waqf is not only assosiated to the land intended for educational institutions, cemeteries, worship places, and others, but also it can be used as a source of strength to actualize communities welfare and triggered the empowerment of potential economic sectors. The greater and more diverse the waqf assets managed by nadzir appropriately and professionally, the more benefits obtained. Consequently, it will strengthen waqf as an improving factor in the economic sector and communities welfare. According to waqf law, shares are a moving objects that can be used as object of waqf. The main objectives of the current study are to explore the conceptual framework in improving the shares waqf and to identify the uniqueness of the shares waqf in Indonesia. In addition this study investigated the contribution of this type of shares towards communities welfare. This study used qualitative method based on the document analysis of relevant references. The interesting finding of this study indicated that the proper implementation of shares waqf is very beneficial in people economic welfare.

Keywords
Share Waqf, Communities Welfare, Indonesia

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/8cf6prdbt7jV

Corresponding Author
Syadan Ismail

Institutions
Universitas Sriwijaya, Universitas Muhammadiyah Palembang

Abstract
Financial Technology: Online lending bussiness is getting a bad perspective generated by the conflict of the default loan. Fintech gets the access easily to the unbanked small and medium enterprises (SME/UMKM) those are one of some factors of the default while another reason is the very high interest. Does this fintech gives some advantages to the SME-s business yet waiting for the bank services which is have less priority, rigid and complex rules by the regulator? This article is going to disscuss the role of Financial Techology: Peer to Peer Lending for SME in a safe and halal ways. Keywords: Financial Technology, Peer to Peer Lending, Crowdfunding, Small and Medium Enterprises, Halal Loan

Keywords
Financial Technology, Peer to Peer Lending, Crowdfunding, Small and Medium Enterprises, Halal Loan

Topic
International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/pXrfNAwmeQJM