Investama : Jurnal Ekonomi dan Bisnis

ANALISIS PENGARUH KURS RUPIAH, CADANGAN DEVISA DAN THE FED RATE TERHADAP SUKU BUNGA DI INDONESIA DALAM PERSPEKTIF EKONOMI ISLAM TAHUN 2003-2024 DENGAN PENDEKATAN VECM

Salman Al lamsa — 2025-09-16

This study aims to analyze the influence of rupiah exchange rate, foreign exchange reserves, and The Fed Rate on interest rates in Indonesia from an Islamic economic perspective for the period 2003-2024 using the Vector Error Correction Model (VECM) approach. This research uses a quantitative approach with time series data for 22 years (2003-2024) and analyzes data using Eviews 10. The results show that in the long term, the rupiah exchange rate has a significant effect on interest rates in Indonesia (t-statistic 2.93 > t-table 2.10), The Fed Rate has a significant effect on interest rates (t-statistic 2.67 > t-table 2.10), while foreign exchange reserves do not significantly affect interest rates (t-statistic 1.85 < t-table 2.10). From an Islamic economic perspective, interest rates are a manifestation of usury (riba) practices that are prohibited because they contain elements of exploitation and injustice. Islamic financial systems develop comprehensive alternatives through profit-sharing principles (mudharabah), buying and selling (murabahah), and leasing (ijarah) that reflect dimensions of justice and blessing. This research provides an important contribution to monetary policy making that considers national economic stability while still referring to Islamic economic principles.

EKONOMI SIRKULAR DI PESANTREN: INOVASI PP. ANNUQAYAH LUBANGSA DALAM PENGELOLAAN SAMPAH

Moh. Abqoriyin Amin — 2025-09-16

This research aims to explore the application of circular economy principles in pesantren through a case study of the waste management system of PP. Annuqayah Lubangsa. Using a descriptive qualitative approach, data was collected through participant observation, semi-structured interviews with 15 key informants, and document analysis. The results showed that PP. Annuqayah Lubangsa has successfully developed a sustainable waste management system through the Jatian Technical Implementation Unit (UPT). The circular economy model implemented includes systematic waste segregation into plastic, paper, organic, and residue categories, followed by value-added processing that generates a monthly income of IDR 3 to 3.5 million. The research identified three key success factors: community-based management involving santri in the entire process, integration of Islamic ecological ethics, and development of innovative products such as plastic paving blocks. This research contributes to the understanding of how religious educational institutions can simultaneously address waste management challenges, create economic value and support environmental sustainability, and offers a replicable model for similar institutions. Research limitations include the focus on a single case study and the use of qualitative metrics for economic impact assessment.

TRANSFOMASI EKONOMI MUSTAHIK MELALUI ZAKAT PRODUKTIF : ANALISIS PROGRAM BAZNAS KABUPATEN PACITAN

Muhammad Darwisy — 2025-09-16

Changes in economic status and business improvement are expectations for business actors, one of the government institutions that participate in encouraging the economic growth of the community is BAZNAS. BAZNAS Pacitan Regency has a social program called Productive Zakat, there are two types of financing provided to mustahik, namely the Business Rombong Program and Revolving Funds. The purpose of this study is the extent to which the impact of the productive zakat program in transforming the economy of mustahik in Pacitan Regency for the better. The lack of financial capital, expertise, and creativity is the main problem experienced by mustahik. This type of research is field research, the method used is descriptive qualitative, for the data used in this research consists of primary data and secondary data. Primary data was obtained from interviews with BAZNAS Pacitan Regency and mustahik recipients of the Productive Zakat program. Secondary data was obtained from BAZNAS program reports, some literature, articles from magazines, journals and newspapers on the internet. The results showed that the implementation of productive zakat programs, both revolving fund programs and business rombong, had a positive impact on mustahik business growth, increased income and gave birth to new entrepreneurs. The productive zakat utilization program carried out by BAZNAS Pacitan Regency has been running well. However, it needs to be improved again, one of which is in terms of socialization to the community.

ANALISIS MANAJEMEN PENGUMPULAN (FUNDRAISING) ZAKAT PROFESI DI LAZ PERSADA PAMEKASAN DENGAN PRINSIP POAC

Habibur Rohman — 2025-09-16

In the Islamic view, all aspects of human life are regulated in Islam, including economic aspects. Poverty has always been a never-ending problem. The instrument that can alleviate poverty in the Islamic view is known as zakat. LAZ PERSADA Pamekasan, which is one of the zakat amil institutions in Pamekasan, which is still relatively new, of course requires strategies and methods in conducting zakat fundraising so that people can channel their zakat to this institution. The aim of this research is to find out the mechanism or method of LAZ PERSADA Pamekasan in conducting zakat fundraising, as well as analyzing zakat fundraising in terms of the POAC aspect. This research uses descriptive qualitative research. Research findings at LAZ PERSADA in conducting zakat fundraising use two methods, namely direct fundraising and indirect fundraising, and at LAZ PERSADA Pamekasan they have implemented POAC well and effectively.

PERAN BANK SAMPAH DALAM MENINGKATKAN EKONOMI MASYARAKAT PERSPEKTIF EKONOMI ISLAM (STUDI KASUS BANK SAMPAH MOJOREJO ASRI)

Linawati Linawati — 2025-09-16

Waste is one of the main factors causing environmental problems that are still ongoing today. The imbalance between the volume of waste production and its management capacity causes waste accumulation. The presence of waste banks provides an alternative solution for the community in an effort to reduce this accumulation, namely by managing waste that previously had no use value into goods that have economic value. This study aims to examine the extent to which the role of Mojorejo Asri Waste Bank in improving the economic welfare of the community, in terms of Islamic Economics. The approach used in this research is a qualitative method, with the utilization of primary and secondary data obtained through observation techniques, in-depth interviews, and documentation of direct sources. The results showed that the existence of Mojorejo Asri Waste Bank contributed to helping fulfill the economic needs of the community, although this contribution has not been able to cover all needs as a whole. The waste management mechanism is carried out through the participation of the community who collect waste and submit it directly to the waste bank or through officers who make pick-ups. From an Islamic perspective, the buying and selling practices carried out by waste banks are considered valid or permissible. In addition, the principles applied in waste bank operations are in line with the concept of human responsibility as khalifah on earth.