Bukhori: Kajian Ekonomi dan Keuangan Islam is a scientific publication media that publishes selected manuscripts with current topics in Islamic economics and financial studies. Bukhori aims to be a useful platform for spreading scientific studies on various issues and a strategic tool for developing theories and practices in the fields of Islamic Economy and Finance.
Muslim Investors' Behavior in Deciding to Invest in Sharia Shares in the Period 2018-2023: A Systematic Literature Review
Purpose: The author's goal in this study is to investigate the factors that influence Muslim investors' decisions to invest in Sharia-compliant shares. This study aims to provide a detailed description of insider investor decision-making behavior. Methodology: Using the Scopus database and Google Scholar, the author analyzed 10 articles published between 2018 and 2023 to map the pattern of behavior of Muslim investors in deciding whether to invest in Sharia shares. Data was collected and reviewed before doing an analysis review, followed by a systematic literature review to support the next study. Results: Findings and results highlight that the behavior of Muslim investors is influenced by several factors, like investor ethics, motivation, patterns of investment, and religious factors. While the factors that influence the decision to invest in Islamic stocks are the level of return and investment risk. The implications of this research are to provide an understanding of the factors that influence Muslim investors' decisions in choosing Islamic equity investments, to provide insight into past investment experiences that influence Muslim investors' decisions, to improve perceptions of the risk of investing in Islamic equities so that investors can reduce risk and achieve better results from their investments. In addition, Islamic financial institutions can provide good services to Muslim investors and the government can take more appropriate steps to develop the Islamic financial market.
Purpose: This research problem revolves around the prevailing focus in zakat accounting studies, primarily on techniques and calculations, while neglecting the importance of local cultural values and religiosity. This study aims to reveal zakat accounting practices based on local cultural values and religiosity. Methodology/approach: The research employs a qualitative approach and utilizes two data collection methods, interviews and observations, involving three informants. Results: The findings reveal various zakat accounting practices, including the adjustment of zakat rates based on government decisions; straightforward zakat accounting records; the distribution of zakat to the poor, needy, converts, and zakat administrators; and the accountability of zakat funds communicated via mosque loudspeakers. These practices are deeply intertwined with local cultural values, emphasizing honesty and trustworthiness. Limitations: The limitations of this research are that the research informants have yet to present information from religious leaders regarding zakat accounting practices. Contribution: The theoretical implication lies in the potential integration of religious values, such as trustworthiness and honesty, into zakat accounting, facilitating the development of guidelines and standards that resonate with spiritual and cultural values and align organizations with their religious principles. Practically, this may create opportunities for developing zakat-based financial instruments tailored to specific cultural and spiritual contexts.
Business Strategy in Islamic Boarding School: A Case Study of Pesantren Hidayatullah Depok Indonesia
Purpose: Abstract. This study aims to identify the strengths, weaknesses, opportunities, threats, and strategic priorities in the development of a business unit in a pesantren, a culturally rooted Islamic boarding school in Indonesia. Methodology: Employing ANP-SWOT analysis, this study indicates that strengths and opportunities are the main priorities in developing pesantren’s business unit. The most influential aspects of strengths, weaknesses, opportunities, and threats are cooperation with internal and external parties in developing business and marketing management that is not optimal Results: Islamic boarding schools can play a more important role in economic activities as producers that meet community needs, in particular, and even supply a broader market. The most important strategy is to improve the quality of human resources by improving the mindsets and skillsets of business activities.
Purpose: Purpose: This study aims to construct labulo accounting practices based on local cultural values. Methodology/Approach: This study employs the Islamic framework from an Islamic ethno-methodology perspective. It uses a qualitative methodology that incorporates two data-gathering methods: structured interviews and passive participant observation. The participants in this study were chosen using purposive sampling techniques. The data analysis process consisted of five phases: amal, ilmu, iman, informasi wahyu, and ihsan. Results/Findings: The results indicate three ways in which Ilabulo traders practice accounting: profit accounting, loss accounting, and simple memory-based recording. These accounting practices are characterized by trustworthiness (amanah) and patience (kesabaran). Trustworthiness is reflected through sellers' actions, using their trading profits to support their families’ needs and children's education. The elders often advise the value of family responsibility through the expression (lumadu) "delo sipati lo malu'o tiloliyo kulu-kulu wala'iyo modudu'o," which means a sense of family responsibility. Patience is reflected in the actions of Ilabulo sellers when they experience losses, such as giving away their goods free to residents and continuing to trade despite facing losses. The elderly often advise on the value of patience through the expression (lumadu) "mopo'o tanggalo duhelo," which means being patient. Limitations: The limitation of this study lies in the informants, as it does not include information from Ilabulo customers. Contribution: This research contributes to introducing the concept of accounting practices by Ilabulo sellers based on local cultural values.
Purpose: This study aims to identify the appropriate model for measuring the level of Maq'hid syar'ah in sharia banking. Methodology: The method used is a qualitative method with a literature approach. The data used are the results of published research using the Maq'hid syar'ah index with the study object of sharia banking. Results: The results of the study indicate that there are 5 measurement concepts used in measuring the sharia-compliancy of Sharia banks using the Maq'hid syar'ah index. Of the five concepts, there is a fundamental similarity that is the key to achieving the goal of Maq'hid syar'ah, which is purifying the soul, justice, and public welfare. A simple model that can be used to measure quantitatively is by using 3 main instruments; Interest-free business for the purpose of purifying the soul, Zakat for the purpose of achieving justice, and real investment for the purpose of realizing welfare (maslaha).