Assuq International Journal of Islamic Economic Studies (AIJIES)

The Impact of Investor Knowledge and Perceived Benefits on Investment Intention in Sharia Capital Markets

Ati’atur Rahmah, Tajus Subqi — Sat, 21 Jun 2025 00:00:00 +0000

Investment in capital markets has become increasingly relevant among university students; however, there is limited empirical evidence regarding how students’ knowledge and perception of investment benefits influence their investment intentions. This study aims to examine the effect of knowledge and perceived investment benefits on the investment interest of students at Annuqayah University Faculty of Economics and Business Islam (FEBI). A quantitative research design was employed, using descriptive statistics and field research methods. The population consisted of students interested in capital market investment, with a sample of 65 respondents determined through the Slovin formula. Primary and secondary data were collected via questionnaires, interviews, and direct observations. Data were analyzed using validity and reliability tests, classical assumption tests, and multiple linear regression, including t-tests, F-tests, and the coefficient of determination (R²), using IBM SPSS 21. The results indicate that both knowledge and perceived investment benefits individually have a significant positive effect on students’ investment intentions, with t-values of 2.180 and 4.196, respectively, exceeding the critical value of 1.670 at a 0.05 significance level. Furthermore, together, knowledge and perceived benefits simultaneously have a substantial positive influence on investment interest, as indicated by an F-value of 25.290 (p < 0.05) and an R² of 0.449, showing that 44.9% of the variance in investment intention is explained by these variables. These findings suggest that enhancing financial knowledge and highlighting investment benefits are key strategies for fostering investment interest among university students.

Assessing the Socio-Economic Impact of the Establishment of PT. Bahagia Cigarette Factory

Noviah — Wed, 25 Jun 2025 00:00:00 +0000

The establishment of industrial facilities in rural areas can have profound socio-economic effects on local communities, yet the dynamics of these impacts remain underexplored, particularly within the cigarette industry. This study investigates the social and economic consequences of the establishment of PT. Bahagia Cigarette Factory in Ganding Village, Ganding District, Sumenep Regency. Employing a qualitative research design, data were collected through structured interviews with local residents and direct field observations. The findings reveal several positive outcomes, including expanded employment opportunities, enhanced household income, and stimulation of local economic activities. Simultaneously, the research identifies adverse effects such as increased consumptive behavior, alterations in traditional social values, and heightened economic dependence on a single industrial sector. These findings underscore the dual nature of industrial development in rural contexts, highlighting the need for strategies that maximize benefits while mitigating social and economic vulnerabilities. The study contributes to the literature on community-based development and rural industrialization, offering insights for policymakers, local authorities, and stakeholders in managing industrial growth in ways that promote sustainable socio-economic development. By providing empirical evidence from a rural Indonesian setting, this research extends understanding of how industrial projects influence both livelihoods and social structures, serving as a reference point for future studies on rural industrial impacts

The Implementation of Land Pawn Systems in the Perspective of Islamic Economics

Moh. Subaidi — Mon, 23 Jun 2025 00:00:00 +0000

Land pawning of rice fields has long been practiced and remains prevalent in Bungbaruh Village, Kadur District, Pamekasan Regency. Despite its traditional nature, this practice continues to serve as an economic coping mechanism for villagers who pawn their rice fields to meet both consumption and production needs. However, limited scholarly attention has been given to assessing its compliance with Islamic economic principles, creating a gap in understanding its ethical and shariah implications. Therefore, this study aims to explore the implementation of rice field pawning within the framework of Islamic economics. Employing a qualitative descriptive approach, the research seeks to gain an in-depth understanding of the social realities and economic behaviors underlying the practice. The findings reveal that the existing pawning system contains elements of riba (usury) and injustice, thereby contradicting the Islamic concept of maslahah (public benefit). To realign the practice with Islamic law, several alternative contractual solutions are proposed: (1) adopting a mudharabah agreement allowing the mortgagee (murtahin) to earn returns until the principal is settled; (2) applying a qardh hasan contract to ensure fairness and prevent exploitative lending; and (3) utilizing a murabahah structure to formalize transactions with transparent profit-sharing terms. These recommendations offer a practical pathway for transforming traditional pawning systems into ethically compliant mechanisms consistent with Islamic economic values.

Business Development Strategies of Ngalopok Store to Enhance Income: An Islamic Economic Perspective

Wirdan Febriyanto — Sun, 29 Jun 2025 00:00:00 +0000

Micro and small enterprises (MSEs) play a critical role in driving local economies; however, many still struggle to design business development strategies that balance profitability with ethical and spiritual considerations. Previous research has primarily focused on financial performance and market competitiveness, leaving limited attention to how Islamic economic values can guide sustainable business growth at the micro level. This study aims to examine the business development strategies implemented by Toko Ngalopok, a small-scale retail enterprise located in Pareba’an Village, Ganding District, Sumenep Regency, through the lens of Islamic economics. Employing a qualitative research design, the study collected data through direct observation and semi-structured interviews with the shop owner and customers to obtain in-depth insights into managerial and ethical practices. The findings reveal that Toko Ngalopok employs several strategies, including product innovation, service quality improvement, and competitive pricing, to enhance customer satisfaction and increase income. These strategies are harmonized with key Islamic economic principles such as honesty (ṣidq), justice (ʿadl), and the pursuit of barakah (blessing) in business. The study underscores the significance of integrating Sharia-based ethical values into business management as a foundation for achieving both economic resilience and spiritual sustainability. This research contributes to the growing body of literature on Islamic entrepreneurship by demonstrating how ethical business strategies foster sustainable competitive advantage in micro enterprises.

Enhancing Community Welfare Through Micro, Small, and Medium Enterprises (MSMEs): Insights from Islamic Economic Principles

Ach. Sofiullah — Mon, 23 Jun 2025 00:00:00 +0000

Micro, Small, and Medium Enterprises (MSMEs) are widely recognized as pivotal drivers of national economic development, particularly in mitigating unemployment and poverty in rural communities. This study investigates the role of tape-producing MSMEs in enhancing community welfare, focusing on female workers in Pordapor Village. A qualitative methodology was employed, with primary data collected through in-depth interviews and structured questionnaires administered to 10 female workers. Data were analyzed using systematic stages of reduction, presentation, and conclusion verification. Findings reveal that tape MSMEs provide critical employment opportunities and generate income that contributes to local livelihoods. Despite persisting gaps in fully meeting basic and secondary needs, these enterprises are perceived to substantially improve the socio-economic well-being of residents. From the perspective of Islamic economics, tape MSMEs promote maslahah (public benefit) and falah (prosperity), emphasizing their role in fostering socially responsible entrepreneurship and sustainable rural development. The study highlights practical implications for policymakers, local entrepreneurs, and community development practitioners by demonstrating how MSMEs can serve as effective instruments for economic empowerment and social welfare enhancement. These insights reinforce the potential of MSMEs to drive inclusive growth, particularly in rural settings where access to formal employment is limited.