Islamic Cooperatives Research Articles

Exploring the Role of Social Media @asysyirkah.id in Promoting Sharia Investment among Millennial Investors: A Case Study of Asysyirkah Sharia Cooperative

This research aims to explore the role of social media, particularly the @asysyirkah.id account, in promoting Islamic investment among millennial investors, with a focus on Asy-Syirkah Islamic Cooperative. Using a qualitative approach with a case study design, this research analyses how @asysyirkah.id leverages social media platforms to increase awareness, understanding, and participation in Islamic investment. Data were collected through in-depth interviews with the co-operative's social media manager, observation of social media content, and focus group discussions with co-operative members. Data analysis techniques used thematic analysis techniques. Data validity techniques used triangulation, member checking, and audit trail. The results of this study show that social media is a very effective tool for promoting sharia investment among millennials. The role of @asysyirkah.id media can increase engagement, education, and participation in sharia investment while overcoming existing challenges in content management and interaction

The role of Islamic economics and social institutions during the time of Covid-19

PurposeThis study aims to examine the role of Islamic economic and social institutions during Covid-19 and try to propose a model that highlights Islamic economics and social institutions’ role in providing community economic, social and health recovery support.Design/methodology/approachThis research uses a qualitative approach with a multicase method. Interviews with the institutions including the Amil Zakat, Islamic Banks, Micro Waqf Banks and Islamic Cooperative (Baitul Maal wat Tamwil) were conducted in order to develop a model about how the integration between each institution in handling the effect of COVID-19.FindingsThe model shows the interaction roles of each Islamic institution and implementation in the long term and short term in handling the impact of Covid-19, particularly in the economic, social and health sectors. These institutions will assist the government in establishing community economic independence in the face of COVID-19, which has caused economic sluggishness or recession.Research limitations/implicationsThis study proposes the model of synergy using a qualitative approach. Future studies can develop the synergy model by employing a statistical and quantitative method, such as by employing analytical network process method.Originality/valueThis study adds the literature about empirical evidence on the role of each Islamic economic and social institution and develops new scenario model about integration of those institutions in overcoming economic and social problems during the COVID-19 pandemic. These interactions play a role in shaping the community’s economic independence in dealing with the economic downturn due to COVID-19.

The The Impact Of Workplace Environment On Employee Productivity At Islamic Cooperative Bank

Today in the 21st century, it is impossible to adequately emphasize how vitally important a pleasant and favorable working environment is to employees' health, productivity, and well-being. As a growing issue for banking sectors, ensuring the staff members are being productive in the performance of their assigned responsibilities that may contribute to the success of the business, is becoming more important. Many variables may affect an employee's productivity, but the working environment of the workplace is by far the most prominent aspect that may either inhibit or enhance an employee’s productivity. As this research focuses on businesses and workers, the outcome will benefit both. Using a dataset of 144 employees from BKRM Berhad in Wilayah Persekutuan Kuala Lumpur branches, this study sought to determine the relationship between workplace environment on employee productivity, particularly at Islamic Cooperative Bank in Malaysia. The workplace environment is divided into two parts; physical and behavioral. According to the study’s findings, the researcher discovered that the behavioral workplace environment had a far more significant influence on employee productivity than the physical office environment.

Exploring Shariah Governance Practices in Islamic Co-Operatives in Malaysia

Exploring Shariah Governance Practices in Islamic Co-Operatives in Malaysia

Pengaruh Pelayanan, Nisbah Bagi Hasil, Dan Pengetahuan Koperasi Syariah Terhadap Keputusan Menabung Anggota KSPPS BMT Surya Abadi Riyanto Cabang Seputih Raman

This study aims to determine the effect of service, profit sharing ratio, and knowledge of Sharia Cooperatives on the decision to save members of KSPPS BMT Surya Abadi Riyanto Seputih Raman Branch. There is still a lack of people who decide to save or become members of KSPPS BMT Surya Abadi Riyanto, Seputih Raman branch, which is caused by several factors such as, from the perspective of members who save, there are still many complaints from members regarding poor service, inadequate facilities, and the views of members who are still minimal about Islamic cooperatives. In this study using analytical tools, namely SPSS (Static Package For Social Science). This study uses a type of Quantitative research, with a population of ± 3000 members, and a sample determined using the Slovin formula of 100 respondents. By doing several tests, namely, Validity Test, Reliability Test, Normality Test, Multicollinearity Test, Heteroscedasticity Test, Multiple Regression Analysis, t test, F test and Determinant Test (R2). Based on the results of the simultaneous test, it is obtained that the significant value is 0.000 <0.05 and the F-count value is 1231.804> 2.699, which means that there is a simultaneous influence between the Service variable (X1), Profit Sharing Rate (X2), and Sharia Cooperative Knowledge (X3) on the Saving Decision variable (Y). While the figure for R square is 0.975 or 97.5%. This shows that Service, Profit Sharing Rate, and Sharia Cooperative Knowledge have an effect of 97.5% on the Saving Decision of KSPPS BMT Surya Abadi Riyanto Branch Seputih Raman Members. The results showed that simultaneously Service, Profit Sharing Rate and Sharia Cooperative Knowledge had a significant effect on Member Saving Decisions, KSPPS BMT Surya Abadi Riyanto, Seputih Raman Branch should improve Services both in terms of facilities and infrastructure owned such as adding a queuing system, replacing employee support tools that have been worn out, provide a Profit Sharing Rate that is more profitable for members who save, and further educate or provide information so that members and prospective members (the public) have good Sharia Cooperative Knowledge such as products and services offered by KSPPS BMT Surya Abadi Riyanto, Seputih Raman Branch, so as to increase the Decision to Save Members and Prospective Members.

Exploring the Nexus of Attitude and Perceived Information: Unraveling the Mediating Role of Intention in Predicting Adoption of Islamic Cooperative Finance by SME Customers in Southern Thailand - A Theory of Planned Behavior Perspective

Exploring the Nexus of Attitude and Perceived Information: Unraveling the Mediating Role of Intention in Predicting Adoption of Islamic Cooperative Finance by SME Customers in Southern Thailand - A Theory of Planned Behavior Perspective

Examining the Impact of Subjective Norms and Service Quality on the Intention to Adopt Islamic Cooperative Financing in Southern Thailand: A TPB-Based Analysis

Examining the Impact of Subjective Norms and Service Quality on the Intention to Adopt Islamic Cooperative Financing in Southern Thailand: A TPB-Based Analysis

Shariah governance and audit practices in Islamic co-operatives: An audit expectation-performance gap analysis

This study focuses on the inclusion of Shariah governance and audit best practices in Islamic co-operatives in Malaysia. The development of Shariah governance and audit is essential to complement the Shariah compliance mechanisms already in place and practiced internally within these Islamic co-operatives. Strong regulations, frameworks, and guidelines are needed to uphold Shariah compliance practices. The Delphi method was used as the study’s methodology, involving a series of discussions with industry practitioners in Islamic co-operatives. Based on the findings, there is an existing expectation-performance gap in regulations, frameworks, and guidelines; independence and competency; and Shariah audit scope in governing Shariah compliance principles in Islamic co-operatives. This is crucial because well-developed regulations, frameworks, and guidelines in Shariah governance and audit will increase stakeholders’ trust that the activities and operations of Islamic co-operatives are Shariah-compliant. Additionally, providing a standardized framework will help manage risks in Islamic co-operatives and, in the broader context, contribute to the industry’s and the economy’s growth by offering stakeholders adequate information to make informed decisions.

KONVERSI KOPERASI KONVENSIONAL MENJADI KOPERASI SYARIAH DI KOTA PADANG PANJANG

The city of Padang Panjang is one of the cities in West Sumatra with great potential for the development of Islamic financial institutions. One of the Padang Panjang City Government's programs, which involves converting conventional cooperatives into Islamic cooperatives, has yet to be fully realized. The objective of this research was to examine the implementation of the conversion of cooperatives into Islamic cooperatives in the city of Padang Panjang. The factors that hindered the conversion process and the government's efforts to accelerate the development of Islamic cooperatives were also investigated. The method used in this article was field research. Data was obtained through interviews and documentation. The research results indicate that the process of converting cooperatives into Islamic cooperatives in the city of Padang Panjang is in accordance with Article 5 of the Minister of Cooperatives and Small and Medium Enterprises Regulation No. 11/PER/M.KUKM/XII/2017. This process includes socialization, General Meeting of Members (RAT), business transition based on Sharia principles, identification of Regional Original Revenues (PAD), PAD notarization, and PAD approval. The efforts made by the Padang Panjang City Government have been sufficient and well-implemented. However, challenges are still faced by both the cooperative's management and members in the field.

Strengthening the Shariah Governance Structure in Islamic Cooperative Sector

Strengthening the Shariah Governance Structure in Islamic Cooperative Sector

ISSUES AND CHALLENGES IN DEVELOPING SHARIAH GOVERNANCE AND SHARIAH AUDIT IN ISLAMIC COOPERATIVES

The development of Shariah governance and audit in Islamic Cooperatives in Malaysia is one of the primary concerns since some issues were raised throughout the process. Islamic cooperatives in Malaysia are regulated by Suruhanjaya Koperasi Malaysia (SKM), which aims to encourage the growth of cooperatives that comply with Shariah. Islamic cooperatives operate their business under supervision from SKM regarding governance and Shariah perspective. The development of Shariah governance and Shariah audit support the Shariah compliance system that already operates in most Islamic institutions. During the Shariah governance and audit process, some issues are addressed during the development, which involves guidelines, Shariah auditor competency, staff skills, and governance and Shariah audit of the cooperative sector. The study’s approach included an interview with practitioners from cooperatives, auditors, and experts in the industry. This paper aims to identify the issues and challenges of Shariah governance and Shariah audit in the Islamic cooperative sector. The study will contribute to one of the key critical elements in strengthening the Shariah governance and Shariah audit in the cooperative sector.

Kualitas Pelayanan dan Loyalitas Anggota Koperasi Syariah di Indonesia

Cooperative members are the most crucial part of the activities conducted by cooperatives. Cooperatives also contribute to realizing economic prosperity, both for their members and the surrounding community. The purpose of this research is to examine the relationship between service quality and the loyalty of members of sharia cooperatives in Indonesia. The research was conducted using a qualitative method with a literature review approach. The results show that the aspect of service quality has a significant influence on the loyalty of members of sharia cooperatives in Indonesia. This phenomenon is evident in several Islamic cooperatives in Indonesia, reflecting a positive relationship between service quality and member loyalty. The research findings are expected to serve as a guide and consideration for sharia cooperatives and stakeholders in their efforts to retain members and encourage them to continue using the services of sharia cooperatives.

Path Analysis of Factors Affecting Management Success of Islamic Cooperatives in Southern Border Provinces of Thailand

The objective of the study was to analyze the paths of factors affecting the management success of Islamic cooperatives in Southern border provinces of Thailand. Data were collected from 301 operations committee members of Islamic cooperatives selected using stratified sampling and systematic sampling and data were analyzed using path analysis. The study found that the path model of factors affecting the management success of Islamic cooperatives in Southern border provinces was consistent with the empirical data with no statistical significance (?2 = 0.000, p = 1.000, GFI=1.000, and RMSEA=0.000). The management success of the Islamic cooperatives was influenced the highest by strategy focus, followed by cooperatives management, organizational shared value, and organizational competence, with statistical significance at the level 0.05 with total effect sizes of 0.490, 0.341, 0.311, and 0.214, respectively.

Issues and Challenges in Developing Shariah Governance and Shariah Audit in Islamic Cooperatives

Issues and Challenges in Developing Shariah Governance and Shariah Audit in Islamic Cooperatives

Digital Marketing Development Strategy for Sharia Consumer Cooperatives with Business Model Canvas

Globalization has brought increasingly fierce competition for Islamic cooperatives, which threatens their survival in the market. As one of the important business sectors, sharia cooperatives need to develop strategies to remain relevant in various services, including financial services. The purpose of this study is to evaluate the business model and provide alternative recommendations for developing digital marketing with a business model canvas approach. This study uses a qualitative method with a business model canvas approach and the selected sharia cooperative model is the Baiturrahman Mitra Umat Sharia Consumer Cooperative (KKS). The results showed that the Baiturrahman Mitra Umat PSC experienced growth. The strategy that needs to be implemented should focus on growth that improves service, profit, and exploring new opportunities by prioritizing the role of digitalization for the marketing process of cooperative services. This strategy is formulated based on nine elements of the business model canvas, including customer segments, value proposition, distribution channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure.
 Keywords:business model canvas, digital marketing, sharia cooperative, marketing strategy

PELATIHAN DAN PENDAMPINGAN IMPLEMENTASI PRODUK LEMBAGA KEUANGAN SYARIAH DI KOPERASI SYARIAH NASARI

The problems faced by Islamic cooperatives are the lack of interest in Islamic cooperatives which results in the difficulty of developing cooperatives and capital problems. In addition, cooperative members have difficulty in understanding the products available in NASARI Islamic cooperatives because so far members of Islamic cooperatives are more familiar with conventional cooperative financial products. The issue of adding capital to Islamic cooperatives, where members object to increasing principal savings, is also an issue in the development of Islamic cooperatives. Supported by the lack of human resources handling sharia products because so far they have only handled cooperative products that use conventional systems. Training and mentoring activities for the implementation of Islamic financial institution products, Islamic nasari cooperatives are expected to be able to help Islamic cooperatives to develop better and become a solution to the problems faced.

Pengaruh Kualitas Pelayanan, Kualitas Produk, Nilai Pelanggan, dan Bagi Hasil terhadap Kepuasan Anggota: Studi pada Koperasi Syariah Binama Weleri

This study aims to determine the effect of service quality, product quality, customer value and profit sharing on member satisfaction at Binama Islamic Cooperative, weleri branch. This type of research is quantitative. The data source is obtained by questionnaire. The population in this study were all members of the Binama Islamic Cooperative, weleri branch. The sampling technique used purposive sampling with certain criteria so that 109 respondents were obtained as a research sample. The data analysis technique uses Multiple Linear Regression Analysis using SPSS 25 software. The results of the study state that service quality, product quality, customer value and profit sharing have an influence on member satisfaction at the weleri branch of Binama Islamic Cooperative.

Inovasi Pembiayaan Mudharabah Linked Waqf

Micro, Small and Medium Enterprises (MSMEs) are buying and selling activities and providing services to the community with the aim of making a profit, but the empowerment of MSMEs is not due to the fact that there are still many obstacles, such as the difficulty for MSMEs to obtain financing facilities from financial institutions, so they are forced to take out loans from loan sharks whose interest rates are high and suffocating. thus causing businesses to go out of business, to overcome this problem MSMEs need Islamic financial institutions with a profit sharing scheme, namely mudharabah contracts or financing/investments which are usually mudharabah products found in Islamic Cooperatives, Indonesian Sharia Bank (BSI), Baitul Maal Wat Tamwil (BMT). The Indonesian Muslim Entrepreneurs Community (KPMI) and the Syirkah Bersama Cooperative (KSBB) are both working together to create a new innovation in the form of Mudharabah Linked Waqf which optimizes and manages cash waqf funds in an organized manner so that it is hoped that it can help MSMEs to develop further.

Decoding Success: Investigating the Key Elements that Led to an Islamic Cooperative's Prosperity as a Microfinance Institution

Decoding Success: Investigating the Key Elements that Led to an Islamic Cooperative's Prosperity as a Microfinance Institution

Model of Institutional Strengthening Based on Management Function and Sharia Compliance: Exploration of Islamic Cooperative Institutions in Jember Regency, Indonesia

Purpose: Sharia cooperative practices in Jember Regency, Indonesia generally do not perform well. This study explores the Islamic Cooperative Institution (ICI) practices based on management functions, the role of stakeholders, and sharia compliance at ICI in the Jember Regency. Method: This research uses a qualitative method with a case study approach. Data mining using in-depth interviews with seven informants managing the ICI who are still active and an informant from the Cooperatives and MSMEs Office in Jember Regency Findings: The results show that the ICI in Jember Regency is still not operational using the sharia concept because there are weaknesses and limitations in the application of sharia rules, especially knowledge and understanding of the concept of Islamic finance. Therefore, the proposed study model focuses on strengthening institutions so that ICI can maintain its sustainability. The proposed model also links the involvement of the government and universities. Originality: This study proposes a model for strengthening sharia cooperative institutions that relevant parties can adopt in developing suitable sharia practices in various regions in Indonesia and even the world. Implication: Increasing the role of the government in providing training to ICI administrators or managers to improve the implementation of management functions so that ICIs have a good performance.