Papers by Ssonko Muhammedi
Science International, Lahore, 2025
Takaful, an emerging Islamic insurance model has yet to acquire broad traction in Uganda. The obj... more Takaful, an emerging Islamic insurance model has yet to acquire broad traction in Uganda. The objective of this paper was to assess the significance of subjective norms and perceived behavioral control on takaful purchase intention among subscribers of House of Zakat and Waqf Uganda. Based on the Theory of Behavioral Control, the study employed quantitative methodology and Smart PLS 4.0 software to analyze data from 337 respondents. The findings revealed that subjective norms and perceived behavioral control influence takaful purchase intention. The findings further affirmed that religiosity has a significant relationship with subjective norms and perceived behavioral control. The study reinforces the Theory of Planned Behavior (TPB) by empirically validating that subjective norms and perceived behavior control positively influence the intention to adopt takaful. Further, the study demonstrates the effectiveness of a quantitative approach in testing TPB constructs, providing a validated model and reliable measurement tools that can be replicated in a similar context. The paper offers practical implications and recommendations for takaful practitioners, stressing the possibility for increased takaful purchasing intention and its acceptance in Uganda.
The discussion of waqf has become a trend among academics and practitioners of Islamic economics ... more The discussion of waqf has become a trend among academics and practitioners of Islamic economics in Indonesia in the last decade with waqf regulations and great potential. Cash waqf as a productive waqf has great potential to develop long-term Islamic financial investment for the establishment of future waqf banks. A critical issue in the establishment of waqf banks is through academic discussions and debates on how to design the ideal waqf bank organizational structure in Indonesia. Previous research on waqf banks was dominated by regulations, cash waqf, asset waqf and waqf literacy. The research aims to offer a model of the organizational structure of waqf banks in Indonesia in the future. A qualitative method with a grounded theory approach is the ideal conception of a waqf bank. The data was sourced from interviews with micro waqf bank practitioners in Banten province and data analysis with design thinking because it excels in understanding user problems. The study found six models of the ideal organizational structure applied by waqf banks in Indonesia, namely the ad-hoc committee of establishment, form of ownership, shareholders, managers, implementers, deposit guarantee institutions, auditors, and human resource recruitment standards. The research implies that the ideal application of the organizational structure of waqf banks in Indonesia in developing long-term Islamic finance will achieve the principles of sharia, legitimacy and efficiency. Research is conceptually limited and needs to be developed and tested using quantification as a consideration for the establishment of waqf banks in Indonesia.
International Economic and Finance Review, Mar 31, 2024
The nature of women in development has a big role not only in the economic foundation of househol... more The nature of women in development has a big role not only in the economic foundation of households, in the use of Islamic social financial institutions. Poverty motivates women to develop their potential through opportunity, excellence, and equality. Attention to Islamic social finance namely zakat, infaq, sadaqa and waqf in Indonesia is increasing as awareness improves. Limited access of productive women to social financial institutions makes it difficult to obtain business capital. The study investigates the contribution of women to poverty alleviation through Islamic social finance. This study uses qualitative methods with a field study approach. The research location is at the Micro Waqf Bank Lan Taburo Lebak Banten, Indonesia. Data collection using interviews, observations, and literature studies. Data analysis techniques use triangulation with collection, reduction, presentation, and conclusions. The results showed that the role of productive women micro waqf bank customers utilizes Islamic social finance, namely managing business financing, increasing household income, creating household economic prosperity, strengthening community empowerment, and increasing waqf literacy. The research implies that the greater the role of productive women utilizing Islamic social finance, the more positively it will contribute to poverty alleviation in Indonesia. This study was limited to women producing micro waqf banks who received benefits at one institution. Further research needs to be carried out in quantitative studies to find the dominant factor of alleviating harm using Islamic social finance.
Journal of Islamic Economics and Business Ethic, 2024
The main objective of this study is to prevent fraud in the local government sector on the island... more The main objective of this study is to prevent fraud in the local government sector on the island of Java by increasing government accountability using the cultivation of the values of the teachings of the kindness of Javanese ancestors, including; Indra Brata (Sky), Yama Brata (Star), Surya Brata (Sun), Candra Brata (Moon), Bayu Brata (Wind), Kuwera Brata (Earth), Baruna Brata (Ocean), Agni Brata (Fire) in each regional apparatus. The concept of this research used attribution theory, which provides an explanation of the reasons why someone does something or chooses to act in a certain way, so that good accountability based asthabrata greatly supports fraud prevention in the local government sector.This research collects data using the literature study method from sources with the theme of fraud and corruption, such as journals and a financial audit agency report on the island of Java between 2020 and 2024. The results of this study indicate that as a whole the implementation of asthabrata values is not optimal in increasing accountability in order to prevent financial fraud on the island of Java. As an implication, Javanese philosophy of "Asthabrata" can be used as a tool in improving financial reporting accountability in order to kill the growth of fraud in the local government financial sector. This research is one of the first to examine in depth related to asthabrata-based accountability in preventing fraud in local government on the island of Java.
International Economic and Finance Review, 2024
The nature of women in development has a big role not only in the economic foundation of hous... more The nature of women in development has a big role not only in the economic foundation of households, in the use of Islamic social financial institutions. Poverty motivates women to develop their potential through opportunity, excellence, and equality. Attention to Islamic social finance namely zakat, infaq, sadaqa and waqf in Indonesia is increasing as awareness improves. Limited access of productive women to social financial institutions makes it difficult to obtain business capital. The study investigates the contribution of women to poverty alleviation through Islamic social finance. This study uses qualitative methods with a field study approach. The research location is at the Micro Waqf Bank Lan Taburo Lebak Banten, Indonesia. Data collection using interviews, observations, and literature studies. Data analysis techniques use triangulation with collection, reduction, presentation, and conclusions. The results showed that the role of productive women micro waqf bank customers utilizes Islamicsocial finance, namely managing business financing, increasing household income, creating household economic prosperity, strengthening community empowerment, and increasing waqf literacy. The research implies that the greater the role of productive women utilizing Islamic social finance, the more positively it will contribute to poverty alleviation in Indonesia. This study was limited to women producing micro waqf banks who received benefits at one institution. Further research needs to be carried out in quantitative studies to find the dominant factor of alleviating harm using Islamic social finance.
Micro Waqf Banks are a form of innovation of Islamic social and financial institutions by the gov... more Micro Waqf Banks are a form of innovation of Islamic social and financial institutions by the government to provide access to business expansion and the welfare of the productive poor around Islamic boarding schools. Optimising product innovation for Micro Waqf Bank customers requires changes in micro-business actors to improve their welfare sustainably. This study analyses the product innovation of Micro Waqf Bank customers with a social evolution model approach. The qualitative method used a grounded theory approach. They collect data through observations, interviews, documentation, and literature studies-design thinking analysis with triangulation techniques. The results found that the welfare of Micro Waqf Bank customers was created for the community around Islamic boarding schools by optimising product innovation through the involvement of the Indonesian Ulama Council and government participation in product certification bodies. The study uses a design thinking approach for formulating solutions to increase Micro Waqf Bank customers' product innovation in creating their welfare by Micro Waqf Bank optimising halal labelling, intellectual property rights-protected brands, attractive packaging, and product consumption feasibility. The social evolution model's research implication is recommendations for optimising innovative products and creating welfare.
An analysis of The Halal Certification Movement for MSME (Micro, Small, and Medium Enterprises) Actors: A Case Study on Halal Tourism in Kudus Regency
Univeristas Muhammadiya Surkarta , 2024
Kudus Regency is one of the districts that has tourism potential in the field of halal tourism, w... more Kudus Regency is one of the districts that has tourism potential in the field of halal tourism, where elements that support halal tourism include MSMEs, even though halal certification on MSME products is still minimally applied by MSME actors, especially those in halal tourism in Kudus Regency. The lack of knowledge is also one of the reasons why MSME actors and administrative procedures need to be better understood by MSME actors. This study aims to provide an understanding of the urgency of the halal certification movement for MSME actors in the halal tourism sector so that it is expected to create new jobs. This research uses a qualitative approach by interviewing ten people consisting of MSME actors, where the interview emphasizes the importance and understanding of Halal certification in MSMEs. The results of this study show that with Halal certification on MSME products, consumers increasingly trust and get guarantees from these products, so products that have Halal certification increasingly show that they are worthy of a massive market. The government, Halal Certification Companions, and stakeholders are advised to play a vital role in enhancing MSME participants' understanding of halal certificates for MSME products in halal tourism zones, according to this study.
Evaluation of the Compatibility of the Bpkh Hajj Financing Scheme with Sharia Finance Principles in Medan, 2024
This research aims to evaluate the suitability of the BPKH hajj financing scheme with Sharia fina... more This research aims to evaluate the suitability of the BPKH hajj financing scheme with Sharia financial principles in Medan City. In facing economic complexity and developing values, the Hajj Financial Management Agency (BPKH) needs to continue to innovate. The research used a qualitative approach with a focus on Sharia principles, involving analysis of official BPKH documents, financing policies, and in-depth interviews with Hajj pilgrims. Asil shows a strong commitment to the prohibition of usury, with an investment mechanism by Sharia principles. Evaluations from BPKH, MUI, and the Ministry of Religion show support and efforts to increase transparency. Although the majority of Hajj pilgrims are satisfied, there are concerns regarding transparency and distribution of benefits. BPKH leaders stand out as champions of Sharia principles, while Hajj pilgrims' hopes include increased transparency and fair distribution of benefits. In conclusion, the scheme has made positive progress but needs further focus on transparency and distribution of benefits.
November, 2023
The Islamic finance industry has grown rapidly not only in Muslim countries such as Kuwait, Malay... more The Islamic finance industry has grown rapidly not only in Muslim countries such as Kuwait, Malaysia, and Saudi Arabia, but also in non-Muslim countries such as the United Kingdom, France, and Ghana. Shariah Advisory Board plays an important role in corporate governance of Islamic Financial Institutions. The primary goal of this paper is to address proper understanding of Shariah and Shariah Advisory Board in order to place them in their proper corporate governance in minority Muslim countries like Uganda as a new market for Islamic financial institutions. Furthermore, the research focus on the role of Shariah Advisory Boards and the qualifications for Shariah scholars on the board. It also demonstrates the importance of Shariah Advisory Board's independence in implementing its decisions using the previous studies. The research is an exploratory study, the data was gathered from secondary sources such as statutes, articles, online materials and annual reports of Islamic financial institutions that were accessible in different countries. The study's findings are expected to be extremely beneficial to Islamic financial institutions in Uganda and other countries where there is no proper literature on Shariah advisory board concept and corporate governance.
Article, 2023
The popularity of Islamic insurance concept is being increased over time and has global attention... more The popularity of Islamic insurance concept is being increased over time and has global attention for effective financial inclusion. Because of its risk sharing features and prohibition of interest, gambling and speculation Islamic insurance is strongly advocated for in the Muslim communities amidst denouncing its counterpart the conventional insurance. Therefore, the findings revealed that, Islamic insurance has the potential to make additional contributions on the development of insurance industry in Uganda considering the opportunities analysed. The paper also examined the challenges within the industry though solutions were offered accordingly. The research is empirical in nature and the researcher employed a qualitative method and secondary data was gathered from various sources. The findings where maximumly examined and content analysis was deployed as a special technique method for dealing with the subjective interpretation of text data content. As a result, specific recommendations was made to exploring the current opportunities and overcome the challenges. The issues raised must be addressed appropriately to facilitate the accelerated development of Islamic insurance operations and contribute to the much-needed revitalization of Uganda's insurance industry.
Article , 2021
A Muslim is encouraged do charity for the blessings and rewards from Allah subhanahuwata'ala, not... more A Muslim is encouraged do charity for the blessings and rewards from Allah subhanahuwata'ala, not limited to low-income households (Dwi Arsyianti et al., 2017). On the other hand, Islam establishes a unique instrument for poverty alleviation as wealth is transferred from well-off Muslims to the worse-off people. Both instruments (Sadaqa and zakat) can be a source of economic growth if distributed effectively. A sample size of 42 respondents were used using purpose sampling, interview guides and administered questionnaires. The current distribution of Sadaqa and zakat by both institutions is captured and gaps are revealed and confirmed by the respondents. Therefore, this mixed method paper develops and proposes an effective model for zakat and Sadaqa distribution and allocation by House of Zakat and Waqf Uganda, and Umoja Helping Hearts Uganda.
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Papers by Ssonko Muhammedi