Browsing by Author "M. Luthfi Hamidi"
Now showing 1 - 7 of 7
Results Per Page
Sort Options
Item Open Access Advancing the understanding of behavioral intentions towards I-Fintech : a study on Indonesian millennials and gen z(Universitas Islam Internasional Indonesia, 2023) Siti Nur Aisyah; Aimatul Yumna; M. Luthfi HamidiIslamic fintech is likewise a part of the digital development and Islamic teaching is concerning the historical development. It is such a completely new for Islamic economic world to implement the technology in a daily life. Such an aftershock of Islamic finance which has not been accepted well by society, Islamic fintech is approaching the Islamic lifestyle. Conventional fintech has been well-approved by the society since Indonesian has not been concerning the Islamic value instead of the religion they believe. This leads to the lack of intention of using 1-fintech services. The intention of using a product is sometimes affected by the lack of product awareness and literacy instead. This project of the study is ensured to explore whether the society has an intention to adopt Islamic fintech services. The focus of this study is taking place on millennials and Gen Z's group as this circle of society is currently the higher adoption of technology and financially active. The questionnaire was placed on the surveymonkey.com website and shared through random sampling method. Before disseminating the questionnaire publicly, the questionnaire was tested by the piloting project to examine whether the questionnaire was valid and reliable. There are 333 respondents besides those who had been involved in the piloting project. The study was tested by SEM-PLS. The results describe that the variables, digital financial literacy, planned behavior, acceptance model and use of technology, while the three variables significantly affect the intention to adopt except digital financial literacy. Planned behavior is the most powerful factor among others. The score of digital financial literacy is considerably high where the intention to adopt is lower than the I fintech adoption rate. Moreover, DFL score is depicted to explain the current literacy on the millennials and gen z. This study was overseen only in Indonesia, aiming on millennials and gen z Therefore, the results cannot be globalized to other countries and generations. However, this study presents the critical information regarding the digital financial literacy in Indonesia to achieve the fintech industry development. On this case, where the digital financial literacy does not significantly affect the adoption of I- fintech, it could be explained that I-fintech is supposed to be explored by the Islamic Digital Financial Literacy. To the best of the author knowledge, there has been no theory representing the Digital Islamic Financial Literacy. It is suggested that the next studies could increase the number of respondents. By this study, it is aimed to obtain the best representing results for the future research about digital financial literacy and expected to be one of the concerns of the practitioner/developer of I- fintech and policy maker to improve the related regulation of I-fintech.Item Open Access An Islamic economics perspective on the determinants of indebtedness as measured by debt-to-GDP ratio : a panel regression analysis of the data from certain OIC and non-OIC member countries(Universitas Islam Internasional Indonesia, 2023) Yadgari, Mohammad Rashed; M. Luthfi Hamidi; Fajar B. HirawanThis thesis aims to define common causes of indebtedness, differentiate within common causes of indebtedness, assess whether fiscal and monetary policies are on a sustainable path to control debt distress and levels, and lastly, evaluate whether the ethical foundation of Islamic economics and finance provide a better way of handling the phenomenon in terms of fiscal, monetary policies and speculative investments. To accomplish these objectives, data of specified countries are taken from the World Bank, IMF. and Central Banks in terms of Debt-to-GDP ratio as the dependent variable, and FDI (net inflows), Government revenue, Government Expenditure, Export, Stocks traded value (GDP), Interest rate, GDP growth, Inflation, and Import as independent variables from 1990 to 2021, 32 years and 12 cross sections, establishing 384 observations for the study, the method consists pre-estimation tests of endogeneity and heteroskedasticity to validate basic assumptions of Ordinary Least Square regression and main separated estimation of Pooled OLS group wise for OIC, non-OIC countries with the adjustments by Heteroskedasticity Linear Regression with maximum Likelihood option. The study found that all the variables except inflation are significantly impacting Debt-to-GDP ratio regardless of separated estimation, however, the difference is that interest rate and stocks traded have a negative and significant relationship with debt for OIC countries while positive nexus for non-OIC countries, FDI has a positive and significant relation with debt for OIC countries while adversely it decreases debt for non-OIC countries with negative nexus. Export and economic growth have a significant and negative relationship for both types of countries, while imports have a positive relationship with debt. Government revenue and expenditure have a significant and negative relationship with debt for OIC countries while positive nexus for non-OIC countries. This study fills the gap of a comparative group-wise study of the macroeconomic determinants of indebtedness while calibrating initial theories proposed by major economists addressing the relationship among mentioned variables and results imply that governments shall formulate efficient policies to lower interest rates, avoid & decrease speculative investments and unnecessary spendings, and maximize revenues to control the debt levels and ensure the ability to service their debt.Item Open Access Financial instruments as the catalyst of sustainable forest management : an estimate on green bonds and Islamic financing(Universitas Islam Internasional Indonesia, 2023) Milhatun Nisa'; M. Luthfi Hamidi; Teguh Yudo WicaksonoDeforestation and forest degradation continue to persist, resulting in the loss of millions of hectares of forest annually. This is primarily driven by the exploitation of forests for short-term gains, highlighting the urgent need for sustainable forest management. However, implementing sustainable forest management requires substantial financial resources. Thus, this thesis aims to explore two potential financing streams, namely the impact of green bonds and Islamic financing provided by Islamic banking, in achieving sustainable forest management. It is important to note that achieving sustainable forest management is a complex endeavour influenced by various external factors. In addition to green bonds and Islamic financing, this thesis acknowledges the significance of macroeconomic conditions, financial bank performance, and political factors as potential determinants that can shape the success of sustainable forest management efforts. Therefore, the main objectives of this thesis are to examine the correlation between green bonds and Islamic financing with sustainable forest management (SFM) and to explore the factors that support or hinder the progress of sustainable forest management (SFM). Moreover, the G20 countries are recognized as the largest emitters of carbon emissions globally, and they have issued a significant number of green bonds as a means of mitigating their environmental impact. By focusing on the G20 countries and D-8 countries, the study aims to explore how these countries utilize green bonds to address sustainable forest management. Additionally, the D-8 countries as representatives of Muslim nations as well where Islamic financing is prevalent. Islamic financing, provided by Islamic banking institutions, is recognized for its environmental friendliness compared to other banks. Consequently, the study considered both the G20 and D-8 countries as the subjects of analysis and its cover period around 2010 until 2021. The findings of the study revealed that green bonds have a positive impact on sustainable forest management, whereas Islamic financing has a negative effect on its performance. The certain macroeconomic factors were found to significantly influence forest management outcomes in different ways. Furthermore, financial bank performance and political stability were identified as contributing factors in enhancing sustainable forest management practices. This study stands out from previous literature as it adopts a quantitative approach to explore the relationship between green bonds, Islamic financing, and sustainable forest management. Unlike prior studies that primarily employed qualitative methods, this research provides a unique perspective on the topic. Moreover, the integration of these specific themes within a single study makes it an original contribution to the existing of knowledge. The study recommends that the International Capital Market Association (ICMA) should establish standardized and globally recognized definitions and criteria for the official use of proceeds in green bonds. Additionally, the government of D-8 countries is advised to implement or strengthen regulations that incentivize Islamic banks to prioritize environmentally sustainable projects.Item Open Access Potential customers' intention to use Islamic banking products in Cameroon : the mediating effect of attitude(Universitas Islam Internasional Indonesia, 2023) Hamadou, Issa; M. Luthfi Hamidi; Aimatul YumnaIslamic finance is not limited to the world's approximately 1.7 billion Muslims. Several additional countries, including the United Kingdom, France, Belgium, and Germany, are also interested. They show their willingness to adopt Islamic financial products for the purpose of inclusive finance and satisfaction of financial needs of the Muslim minority population of these countries. However, although the primary goal of Islamic finance financial inclusion, it has been observed that in some Muslim countries as well as non-Muslim countries, the majority of the people are excluded from the traditional system for religious reasons. This study examines potential customers awareness of Islamic banking products in Cameroon and factors influencing their decision. To achieve this, a structured questionnaire was used with 318 respondents, while 300 were usable for analysis with 94% of respondents rate. The research used SEM-PLS to estimate the data. In addition, an interview with 10 participants was conducted to support the quantitative results. The findings suggested that potential customers knowledge of Islamic banking operations is limited. Most of them are not completely mindful of Islamic financing instruments. Moreover, the study found that attitude, religious motivation, awareness, subjective norm, and relative advantage significantly affect their intention towards Islamic banking products, while perceived regulatory and perceived innovation are not significant. Furthermore, attitude has a substantial mediating role on the connection amongst religious motivation, subjective norm, awareness, relative advantage, perceived innovation, and intention to adopt Islamic banking products. Therefore, the findings of this study contribute to the past literature by providing new framework that combines the theories of planned behavior and diffusion of innovation theory and offers managerial implications at the level of Islamic finance operators. Meanwhile, this research provides some policy recommendations that can help to boost the growth of Islamic finance in Cameroon in order to promote financial inclusion.Item Open Access The effect of consumer behavior on millennial Muslims decision in using Paylater : in the case of Shopee platform(Universitas Islam Internasional Indonesia, 2023) Reginia Ruzianti Jeni; M. Luthfi Hamidi; Herbert Wilbert Victor HasudunganConsumer behavior in the marketing concept only focuses on four main factors: economic, socio-cultural, personal, and psychological. Although consumer behavior has received extensive attention, religiosity, and innovation factors need to be explored more deeply as essential roles in determining fintech products, especially Pay Later in Muslim-majority countries. This study aims to analyze and evaluate the effect of consumer behavior on millennial Muslim decisions in selecting the paylater feature. Data sources come from primary and secondary data. This research uses quantitative methods with Structural Equation Modeling (SEM) techniques with Smart-PLS. The questionnaire method involved 250 millennial Muslims in Jakarta who used Shopee PayLater. The findings show that economic, socio-cultural, personal, psychological, and innovation factors significantly affect millennial Muslim's behavior and the decision to use Shopee PayLater. Then, religiosity has an insignificant effect on millennial Muslim's behavior and their decision to use Shopee PayLater. This research has the potential to provide theoretical and scientific knowledge. Academically, to serve as a resource and reference; practically, to give an overview of the impact of consumer behavior on consumer decisions to use Shopee PayLater.Item Open Access The effect of halal brand awareness on purchase intention in indonesia : the mediating role of attitude(Cogent OA, 2023-02-02) Abdul Aziz Nugraha Pratama; M. Luthfi Hamidi; Edi CahyonoThis research investigated the relationships between the awareness of halal-based products and services and people’s intention to purchase. Also, it explored behavioral attitude as a mediating variable in influencing purchase intention. Data was collected through an online survey with 162 validated respondents. The PLS-SEM method was applied to test four hypotheses connecting the relationship between brand, attitude, and intention variables. The research findings showed that all hypotheses were confirmed, including the mediating role of attitude. This means that halal industry players should respond to consumers shifting from conventional to halal lifestyle orientation, while the regulator requires to provide incentives for promoting a greater halal ecosystem. The originality of this research is that this study strengthened previous research on the role of consumers’ attitudes that positively affect the intention to purchase halal products and services. This study revealed that consumers expand their consumption of traditional halal products and services (food, Islamic banking, fashion) to lifestyle (shopping) and well-being (fitness and swimming pool).Item Open Access The impacts of islamic human development index to poverty in Indonesia (2017-2022)(Universitas Islam Internasional Indonesia, 2023) Cynthia Farah Sakina; M. Luthfi Hamidi; Aimatul YumnaIslamic Human Development Index (iHDI) used as the most comprehensive, appropriate and adequate indicator to measure the human development through an Islamic perspective based on maqasid sharia. In this study, the iHDI will be used to determine their impact to poverty in which is elaborated into five variables. The indicators used are the total Muslim population in each province and the national zakat index data as Hifdzu Dien variable; expenditure per capita (food) and expenditure per capita (non-food) data as Hifdzu Nafs variable; literacy rate and the average length of school years data as Hifdzu Aql variable; the life expectancy and marriage rate data as Hifdzu Nasl variable; economic growth rate and gini ratio asHifdzu Maal variable, and the unemployment rate as a control variable to povertyin Indonesia during 2017- 2022. The quantitative research methods were used in this study with secondary data from Kementerian Agama Republik Indonesia, PUSKAS BAZNAS, BPS, and SIMREGBappenas. The collected data is data panel from 34 provinces in Indonesia with 204 total samples of observations. Using Eviews 12 program, the analysis tool used is panel data regression. The results showed only two provinces show iHDI values in the Middle standard category; Jawa Barat and DKI Jakarta. In the conclusion, Indonesia is still in a Low standard iHDI when calculated in general with an average for the last 6 years with the value of 40.32. The results of the study showed that there was a positive relationship between Hifdzu Dien and unemployment variable to poverty in Indonesia. The Hifdzu Dien variable (preservation of religion) used two indicators; the number of Muslim populations in each province and the nationalzakat index. For unemployment as a control variable, the data used is the OpenUnemployment Rate (OUR). The positive relationship indicated that if the HifdzuDien and Unemployment variables increase, the poverty rate will also increase. Meanwhile, the other four variables (Hifdzu Nafs, Hifdzu Maal, Hifdzu Nasl, and Hifdzu Maal) had a negative relationship with poverty in Indonesia. This result showed that if the independent variable increases, the poverty rate as the dependent variable will decrease.