Islamic Organization and the Perception of <i>riba</i> (Usury) and Conventional Banks Among Muslims: Evidence From Indonesia

Harahap, Burhanudin; Risfandy, Tastaftiyan

doi:10.1177/21582440221097931

Cited by 8 publications

(6 citation statements)

References 18 publications

(26 reference statements)

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“…Many Muslim scholars and intellectuals also believe Islamic banks share similarities to conventional ones [85]. This perception may arise from the resemblance in their operational procedures, which is apparent from an external standpoint.…”

Section: Challenges In Islamic Bank Brandingmentioning

confidence: 99%

Sustainable Development of Islamic Banks by Creating Islamic Branding: Challenges, Importance, and Strategies of Islamic Branding

Andespa,

Yeni,

Fernando

et al. 2024

IJSDP

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This article delves into sustainable growth strategies for Islamic banks, focusing on expanding and developing Islamic branding. Overcoming challenges and outlining an essential strategy, the research, conducted using the PRISMA model, reviews articles from various academic databases. The findings emphasize Sharia compliance as a critical strategy for sustainable development, ensuring strict adherence to Islamic principles in all financial products and services. This approach builds trust within the Muslim community, distinguishing Islamic banks from conventional institutions and establishing a foundation rooted in commitment to Islamic values. The research underscores the ethical principles of Islamic banking, emphasizing risk-sharing and social justice, and highlights the significance of Islamic branding in reinforcing moral foundations and attracting ethically conscious customers. The study highlights how effective branding enhances trust, facilitating financial inclusion and social responsibility. It implies a need for regulatory frameworks supporting standardized Islamic branding, consumer education, and incentives for ethical practices, positioning Islamic banking as a valuable contributor to the financial landscape.

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Section: Challenges In Islamic Bank Brandingmentioning

confidence: 99%

Sustainable Development of Islamic Banks by Creating Islamic Branding: Challenges, Importance, and Strategies of Islamic Branding

Andespa,

Yeni,

Fernando

et al. 2024

IJSDP

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“…Motivation is the driving force that drives people to take action (Schiffman & Kanuk, 2008). Meanwhile, Handoko (2004) states that motivation is a personal condition that fosters an individual's desire to fulfill certain desires to achieve a goal. Enginkaya & Yılmaz (2014) defined consumer motivation as a personality condition that fosters an individual's desire to carry out an activity to achieve goals.…”

Section: Literature Review Motivationmentioning

confidence: 99%

Determinant of Consumer Decision on Islamic Banking

Sari

Siswanto

Maksum

et al. 2023

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This study investigates the determinant of customer decisions in Islamic banks' savings: motivation, promotion, and religiosity. Trust variable as a form of research novelty as a mediation. This study uses a quantitative approach with explanatory research. Using purposive sampling, the sample is 95 Islamic bank customers in Nganjuk City, East Java. Data are analyzed using structural equation modeling with Smartpls software. This research generally describes the factors that can improve customer decisions in opening savings at Islamic banks, such as motivation, promotion, and religiosity. These three factors in this study proved that only direct motivation could improve customer decisions. The result means that the other two factors need a mediating variable in the form of customer trust in Islamic banks regarding the safety of money stored and guarantees free from usury. These findings can be a suggestion for the management of Islamic banks to do promotions more often, meaning that what has been done now is still inferior to conventional banks in promotion.

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“…The wider the mobilisation of loan sharks or loan sharks, especially in disadvantaged communities, is the opinion of Sitepu (2020); by making loans to moneylenders, generally, people with low incomes will be in debt for a long time because their income is so tiny that when paying instalments it is the same as handing over all of that day's income and has implications will repay a new loan or sell an asset. It is necessary to empower the community by providing business capital loans, breaking free from the snare of moneylenders who impose an interesting system (usury) and receiving religious studies and welfare for the community (Harahap & Risfandy, 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

Micro Waqf Bank for Empowerment of Indonesian Women's Microeconomic and Efforts Minimizing the Loansher Trap

Fauzi,

Priatno,

Syarjaya

et al. 2023

I-iECONS

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Fulfilling household needs for a woman is required to be able to obtain and manage halal-sourced finances from a small and micro-entrepreneur. The trap of conventional and online loan sharks poses a significant risk to the borrower's assets due to the lack of business capital they have in the short term. Establishing a micro waqf bank initiated by the financial services authority in Indonesia aims to provide business financing, assistance and financing sourced from zakat, infaq, sadaqah and waqf relying on Islamic social microfinance institutions. This study aims to analyse micro waqf bank woman customers with small and micro-entrepreneurs to avoid entrapment by a loan shark. The study at the El-Manahij Micro Waqf Bank, Lebak Regency, Banten Province, Indonesia, used qualitative descriptive types through data collection interviews with managers and the head in weekly halaqah. In contrast, data analysis used triangulation: data reduction, display, verification and conclusion. Research shows that most micro waqf bank customers are women with micro-scale enterprises to improve Islamic economy studies. Customers choose micro waqf banks to replace loan sharks providing their business capital and having regular activities in the form of weekly group meetings aimed at knowing business progress, religious studies and gradual loan repayments. Micro waqf bank managers receive pawned valuables with sharia contracts to increase business capital. The customers are responsible for repaying business loans in stages, running social gatherings for customers to obtain excess money and supervising fellow customers. The research implies that getting away from the snares of loan sharks can minimise the burden of living costs where they live. The significant role of micro waqf banks in providing Sharia pawn support is to increase business capital to limit dealing with loan sharks.

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Islamic Organization and the Perception of riba (Usury) and Conventional Banks Among Muslims: Evidence From Indonesia

Cited by 8 publications

References 18 publications

Sustainable Development of Islamic Banks by Creating Islamic Branding: Challenges, Importance, and Strategies of Islamic Branding

Sustainable Development of Islamic Banks by Creating Islamic Branding: Challenges, Importance, and Strategies of Islamic Branding

Determinant of Consumer Decision on Islamic Banking

Micro Waqf Bank for Empowerment of Indonesian Women's Microeconomic and Efforts Minimizing the Loansher Trap

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