Ririn Tri Ratnasari

Generation Z is the future generation with technology familiarity and is a trendsetter in financial technology. This study aimed to compare (similarities and differences) perceptions of Generation Z Muslims in Indonesia and Malaysia in paying Zakat, Infaq, and Sadaqah (ZIS). This study uses a qualitative approach with phenomenological methods through focus group discussions. This method was chosen because it allows substantial interaction between participants to compare objects more boldly. Initially, there were 43 Generation Z students from Indonesia and 25 Generation Z students from Malaysia. The total reduction of participants was carried out to find the most relevant and appropriate participants by determining the criteria for having paid ZIS using financial technology (Fintech) at least once. With 10 participants from each country from the final narrowing results, two stages of Focus Group Discussion were carried out. The findings show the similarity of perceptions of awareness of use, including the need and importance of usage benefits. The similarity of perceptions regarding reputation was also found in professionalism and reliability. In contrast, similar perceptions of satisfaction occurred in aspects of multifunction and usability. In addition, differences were found in the perception of data security. There are still suspicions about data security among Indonesian participants. No studies directly compare Generation Z Muslims in the two countries that pay ZIS through Fintech. This study confirms that it is essential to increase the security of personal data when using fintech. Then there is a feeling of security and comfort for Generation Z who donated ZIS.

The economic development of villages has a substantial impact on community welfare. It can become the backbone of the national economy. However, significant obstacles in village development are lack of human resources (HR), high poverty rates, poor common welfare, justice, and prosperity values. In 2022, in Indonesia there are 9584 underdeveloped villages. Some of the causes of the weak economic condition of a village are economic potential was not optimized, and excessive government interference stifled creativity and independence. This study seeks to explore the extent of the positive impact of the sharia economic implementation model in developing the village’s economy and the model’s potential as an alternative solution to building the economy of poor villages. This paper used descriptive qualitative methods, observations, and interviews with community leaders, community representatives, and the regency office. The results show that the economic development strategies carried out by Gerdu Village had three stages, namely (1) education and cooperation, (2) implementation and management, and (3) evaluation and planning. In addition, the internal driving factor behind the success of the village’s development lies in the activeness of village leaders in implementing sharia economics. As for cooperation with external parties, National Zakat Institution, related local department government, and other institutions around the village have also actively assisted in its development. Positive impacts on the community include increased employment opportunities, income, tourist visits, and tourism and language village programs. This study is expected to be one of the references to explain the Islamic economy’s role in advancing the poor village’s economy.

Acknowledgment
We would like to express our utmost gratitude to the Department of Sharia Economic Law Study Program, Universitas Muhammadiyah Surakarta and the Department of Islamic Economics, Universitas Airlangga for supporting this study and its publication process.

The sharia insurance industry has experienced significant development from year to year. A sharia insurance company’s efficiency is crucial because it reflects its capacity to generate outputs from resources. This study aims to enhance comprehension of the efficiency of sharia insurance currently studied by doing a comprehensive literature study. This study selected 429 published articles about Islamic insurance indexed by Scopus between 2010 and 2022. 32 final articles that met the criteria that discussed efficiency as the primary study included in the qualitative synthesis analysis were selected. As a result, this study succeeded in revealing the development of sharia insurance efficiency studies based on the number of publications, authors, countries, subject areas, sources of publications, and cited articles. The study found four main methods researchers used to measure the efficiency of Sharia insurance. This study also revealed several studies comparing the efficiency level between conventional and sharia insurance. Furthermore, the study’s results were mapped based on the significance of the influence of variables on the efficiency of Sharia insurance. This study offers a new opportunity for further development in methods and variables of the efficiency of sharia insurance.

The threat of the global climate crisis demands improvement and adjustment from various sides, including the financial sector. Islamic finance responds to environmental responsibility by presenting environmentally friendly financing products in green sukuk. This study aims to show the development trend of the number of publications in green sukuk and systematize the results of studies that explain the development and evaluation of the emergence of green sukuk investments. This study analyzed 15 publications on green sukuk during the 2016-2022 years indexed by the Scopus database. As for methodology, the descriptive analysis was used to explain the green sukuk data quantitatively; the synthesis analysis was used to describe data based on four directions (the development of models (10 sources), opportunities (12 sources), challenges (12 sources), and evaluations of green sukuk (10 sources). Preferred Reporting Items for Systematic Review and Meta-Analyses standard were used to choose samples for this investigation. The green sukuk challenge is dealing with the sukuk market after the pandemic. Several evaluation findings regarding managing commitment from the government and investors for the renewable energy sector and efforts to provide low-cost sukuk financing and risk minimization are found. Green sukuk demands efficient management to be more viable, competitive, and attractive to investors if the operational area supports it. Green sukuk projects face expanding green funding, global climate financing, managing renewable energy, and validating greenhouse gas emissions. The green stock market reaction requires coordination amongst economic subsectors.

Type of the article: Research Article

Abstract
The adoption of Islamic banking services by Islamic academicians in Indonesia is crucial due to their influential role in promoting Shariah-compliant financial practices. This study aimed to examine the factors influencing their adoption behavior, with religious obligation as a central determinant. Using the Theory of Planned Behavior (TPB) as the foundation, the study analyzed the direct effects of religious obligation, relative advantage, access to service, trust, and social influence on adoption behavior, as well as their mediating effects when religious obligation serves as the foundation. Respondents were selected through purposive sampling for academicians with very strict eligibility criteria, where they must possess a formal bachelor’s degree in Islamic economics, Shariah, or Islamic finance, along with postgraduate education in a related discipline. The analysis was conducted in Indonesia in mid-2025 using Structural Equation Modeling with the Partial Least Squares approach based on 252 valid observations. The results revealed significant positive direct effects for religious obligation (β = 0.605), access to service (β = 0.201), and social influence (β = 0.188). Additionally, this study found a positive indirect relationship from religious obligation to the adoption of Islamic banking mediated by access to service (β = 0.096) and social influence (β = 0.090). This study concludes that campaigns targeting Islamic academicians must prioritize their sense of religious obligation as the core message. This should be reinforced with clear narratives about the ease of accessing Islamic banking services and compelling stories about the social respect and recognition they gain from peers when choosing Shariah-compliant financial practices.