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This study aims to examine the role of implementing Environmental, Social, and Governance (ESG) principles in supporting the transition toward a green economy in Indonesia from the perspective of Islamic banking. The research employs a qualitative approach using a library research method, reviewing academic literature published between 2020 and 2025. Data were analyzed through thematic content analysis to identify the alignment between ESG dimensions and maqashid shariah, as well as the challenges and opportunities of ESG implementation within Islamic banking institutions. The findings reveal that ESG application in Islamic banking remains partial, with greater emphasis on the environmental dimension through instruments such as green sukuk and green financing. The social and governance aspects have not yet been fully integrated into sustainability strategies. Nevertheless, integrating ESG with maqashid shariah strengthens the role of Islamic banks as agents of change in sustainable development. The study highlights the importance of establishing specific regulations, transparent reporting systems, and sharia-compliant green financial innovations to enhance the contribution of Islamic banking to Indonesia’s green economy.

The main issue addressed in this research concerns the importance of selecting the appropriate funding sources for companies, particularly in the Consumer Cyclicals sector, which requires substantial financing to support operational activities. This study aims to analyze the influence of profitability, company growth, and asset structure on debt policy in Consumer Cyclicals companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period. The study employs purposive sampling, yielding 190 observations from companies that meet the criteria. Multiple linear regression is used as the analytical tool to examine the relationships among the variables. The results indicate that asset structure has a positive and significant effect on corporate debt policy, demonstrating that companies with a stronger asset base tend to adopt higher levels of debt financing. In contrast, profitability and company growth do not show a significant effect on debt policy, suggesting that these financial performance indicators may not be the primary determinants in the capital structure decisions for Consumer Cyclicals firms. These findings highlight the critical role of asset management in debt strategy while emphasizing that profitability and growth alone may not suffice to guide financing choices. Companies should consider the composition of assets carefully when determining their debt policies to optimize financial stability and operational efficiency.

This article analyzes the fundamental differences between the mechanisms of fund collection and fund distribution in Islamic banks and conventional banks in Indonesia, based on DSN-MUI Fatwas and banking regulations. In general, both types of banks serve the same function—to collect and distribute funds to support economic activities. However, the main distinction lies in their operational principles. Conventional banks operate using a fixed interest system, establishing a creditor–debtor relationship. In contrast, Islamic banks operate based on Sharia principles that prohibit riba (usury). In fund collection, conventional banks use interest-based savings and deposit products, while Islamic banks apply Wadiah (safekeeping) and Mudharabah (profit-sharing investment) contracts. Regarding fund distribution, conventional banks provide interest-bearing loans, whereas Islamic banks offer financing through Sharia contracts such as Murabahah (cost-plus sale), Musyarakah (partnership), Mudharabah (profit-sharing), and Ijarah (leasing), emphasizing cooperation and risk-sharing. Although Islamic banking is regulated under Law No. 21 of 2008 and DSN-MUI Fatwas, it still faces several challenges, including the dominance of Murabahah financing and the low level of public literacy regarding Islamic financial systems.

Sustainable development is one of the main priorities in an effort to maintain a balance between economic growth, environmental sustainability, and social welfare. Green financial instruments such as Green Bonds and the implementation of Green Budget Tagging have emerged as important strategies in supporting the sustainable development agenda in Indonesia. This study aims to analyze the effect of green bonds and green budget tagging on the achievement of sustainable development. The method used is a quantitative approach with regression analysis, where green bonds and green budget tagging are independent variables, while sustainable development is the dependent variable. The data used are annual time series data from 2018-2023. Data processing was carried out using the SPSS 25 program. The results of the study indicate that partially Green Bonds do not have a significant effect on sustainable development in Indonesia (statistical t significance value 0.970 > 0.05). Green Budget Tagging has a significant effect on sustainable development in Indonesia (statistical t significance value 0.021 < 0.05). Simultaneously, both variables significantly influence sustainable development in Indonesia (F-statistic significance value 0.034 < 0.05). This finding indicates that optimizing green bond issuance and implementing green budget tagging can strengthen green financing and ensure budget allocation is more focused on sustainable programs. The implications of this research emphasize the importance of the government and related institutions' commitment to expanding green financial instruments as a key pillar in supporting inclusive and environmentally sound development in Indonesia.

The main issue faced by MSME actors is limited capital, which hinders business development and their well-being. This study aims to evaluate the impact of the micro-financing program on improving the well-being of MSME actors, with a case study at the "Maju Makmur" Women’s Cooperative in Minggirsari Village. Using a qualitative approach, the study found that the provision of capital to MSME actors in the cooperative has been well-implemented and has had a positive impact, particularly in increasing income, economic activities, and the ability to meet daily needs. Supporting factors for the success of this program include government funding support, good cooperative management, clear implementation and technical guidelines, and community support. On the other hand, hindering factors include the presence of other financial institutions in the village, causing cooperative members to have savings in other places, as well as bad loans and a lack of socialization regarding the micro-financing program. Overall, the micro-financing program at the "Maju Makmur" Women's Cooperative has significantly benefited the improvement of MSME actors' well-being in Minggirsari Village.

This study examines how Baitul Maal wat Tamwil (BMT) resolves financing disputes internally. Employing a qualitative approach with library research, the study draws on scholarly articles, books, and related documents. Data were analyzed descriptively and qualitatively to identify common internal settlement practices that align with Sharia principles and national law. Results indicate that BMTs typically use deliberation among parties, mediation involving management or the Sharia Supervisory Board, and restructuring of financing as primary means to resolve conflicts. These options are favored to preserve institutional-member relationships and reduce adverse financial and social consequences. When internal measures do not succeed, disputes may be referred to Sharia arbitration or to religious courts. The findings highlight the importance of blending Sharia values with positive legal frameworks to ensure dispute resolution is fair, efficient, and sustainable.

Rapid technological developments create opportunities for businesses to scale their businesses. Sharia Micro KUR is a step toward optimizing working capital and investment in accordance with sharia principles. This study aims to analyze the role of Micro KUR financing, outline strategies for utilizing Micro KUR financing in the digital era, and identify challenges in distributing and utilizing Micro KUR to increase the competitiveness of MSMEs. This study uses a qualitative approach and descriptive methods with primary and secondary data sources through observation, interviews with Micro staff, and literature review of articles related to MSMEs in the Digital Era. The analysis shows that Micro KUR financing is a solution for economic development in Indonesia, serving halal MSMEs facing capital challenges. Sharia Micro KUR can be utilized by MSMEs to meet their capital needs as an alternative to adopting digital marketing technology through social media. However, behind the utilization of Micro KUR, there are significant challenges in distributing BSI and utilizing MSMEs. Suggestions for other researchers include applying a quantitative approach with statistical data analysis regarding the relationship between the use of Sharia Micro KUR and increasing the competitiveness of MSMEs in the digital era.

The implementation of Universal Health Coverage (UHC) has become a key priority of the Semarang City Government's policy in achieving equitable and sustainable health insurance. This study aims to evaluate the implementation of the UHC program in Semarang City, focusing on three main aspects: financing, accessibility, and the quality of health services. Additionally, this study examines the effectiveness of the Pangeran Diponegoro Program as a local innovation to accelerate universal coverage achievement. The research employs a mixed-methods approach, with data collected through surveys of 100 respondents, in-depth interviews with policymakers and service providers, and analysis of regional policy documents. The findings show that although UHC membership coverage has reached 99.92%, challenges remain in accessibility and service quality, particularly in the suburban areas and vulnerable populations. The SERVQUAL analysis of service quality shows high scores for empathy and responsiveness but lower scores for reliability and service assurance. The Pangeran Diponegoro Program has proven effective in reaching unregistered groups, but still faces coordination issues between sectors and limited human resources. The study recommends strengthening collaborative governance, improving data verification systems, and developing community-based service innovations to ensure the sustainability of UHC.

Financial and accounting governance practices are a regulatory framework that aims to control financial and accounting behavior within organizations by promoting the principles of transparency, disclosure, accountability, and internal control. The importance of these practices has become more important with the increase in financial crises and corruption scandals in the last two decades, highlighting the need for stricter governance systems to protect the interests of investors and stakeholders. In the context of entrepreneurial projects, which are characterized by high levels of risk and uncertainty, the quality of financial reporting is a key factor in building trust and attracting Financing and facilitating investment decisions. This study aims to analyze the relationship between financial and accounting governance practices and the quality of financial reporting, and to measure the impact of this relationship on the chances of success of entrepreneurial projects. The importance of the study stems from the fact that it seeks to bridge a knowledge gap represented by the lack of research that has linked these variables in the startup environment in developing economies. Based on a review of the literature, the study assumes that financial and accounting governance practices positively affect the quality of financial reporting, which in turn is reflected in enhancing the sustainability of entrepreneurial projects and raising their capacity competitiveness.

Taxes serve as the primary source of state revenue and a crucial component in financing national development through the State Budget (APBN). This study examines the determinants of individual taxpayer compliance within the Klaten Primary Tax Office (KPP) in Central Java, with particular emphasis on the influence of awareness, comprehension of regulations, and understanding of tax sanctions. The research method uses a quantitative associative approach. Primary data were obtained by distributing questionnaires to 100 respondents using a nonprobability sampling technique, using the accidental sampling method. The data was analyzed using multiple linear regression with the help of SPSS software. The results show that awareness, understanding of regulations, and comprehension of tax sanctions have a statistically significant effect on individual taxpayer compliance, both partially and simultaneously. The adjusted R value illustrates the model's ability to explain the data at 64.7%. To improve taxpayer compliance, tax authorities are advised to routinely conduct sustainable and easily accessible tax education programs, enforce tax sanctions consistently and transparently, and be supported by awareness campaigns for taxpayers in fulfilling their responsibilities to the state.

Islamic banking plays a crucial role in providing financing in accordance with Islamic principles, including through the Home Ownership Credit (KPR) product. This study aims to analyze the implementation of the Murabahah and Musyarakah Mutanaqishah (MMQ) contracts in the iB Hijrah KPR financing product at Bank Muamalat KCP Rancaekek. The Murabahah contract is implemented through a sale and purchase mechanism, where the bank purchases the house the customer needs and resells it with an agreed profit margin, thus providing price certainty and a simple process. Meanwhile, the MMQ contract is based on a partnership between the bank and the customer with a concept of joint ownership that gradually decreases, thus creating flexibility and a more balanced risk sharing. This study uses a qualitative descriptive approach with data collection techniques through literature studies, interviews, and observations. The results of the analysis show that the majority of customers prefer the Murabahah contract due to its simplicity, although in the long term, MMQ is seen as more economical and fair. Thus, both contracts are equally relevant to support Sharia-based home ownership. This research is expected to contribute to Islamic banking in improving service quality, strengthening Islamic financial literacy, and encouraging innovation in competitive and sustainable financing products.

Sustainable development is one of the main priorities in an effort to maintain a balance between economic growth, environmental sustainability, and social welfare. Green financial instruments such as Green Bonds and the implementation of Green Budget Tagging have emerged as important strategies in supporting the sustainable development agenda in Indonesia. This study aims to analyze the effect of green bonds and green budget tagging on the achievement of sustainable development. The method used is a quantitative approach with regression analysis, where green bonds and green budget tagging are independent variables, while sustainable development is the dependent variable. The data used are annual time series data from 2018-2023. Data processing was carried out using the SPSS 25 program. The results of the study indicate that partially Green Bonds do not have a significant effect on sustainable development in Indonesia (statistical t significance value 0.970 > 0.05). Green Budget Tagging has a significant effect on sustainable development in Indonesia (statistical t significance value 0.021 < 0.05). Simultaneously, both variables significantly influence sustainable development in Indonesia (F-statistic significance value 0.034 < 0.05). This finding indicates that optimizing green bond issuance and implementing green budget tagging can strengthen green financing and ensure budget allocation is more focused on sustainable programs. The implications of this research emphasize the importance of the government and related institutions' commitment to expanding green financial instruments as a key pillar in supporting inclusive and environmentally sound development in Indonesia.

This study aims to analyze the implementation of the murabahah contract in the Home Ownership Credit (KPR) financing product at Bank Syariah Indonesia (BSI) Cimahi Branch Office. This study uses a descriptive qualitative method with data collection through interviews, observation, and documentation. The results show that the KPR financing mechanism at BSI Cimahi Branch Office has been running in accordance with sharia principles established by the National Sharia Council (DSN-MUI). The process starts from customer application, wakalah contract, to the implementation of the murabahah contract with the principle of transparency of the principal price and profit margin agreed in advance and fixed throughout the financing tenor. The implementation of this system provides payment certainty for customers and protects against the risk of interest rate fluctuations. In terms of performance, Murabahah KPR financing at BSI Cimahi Branch Office has contributed significantly to the financing portfolio with a low level of Non-Performing Financing (NPF) and positive growth every year. However, challenges still exist in the amount of the down payment and the attachment of a fixed margin that can be a burden for customers with limited financial capabilities. Overall, the murabahah contract has proven to be an effective, transparent, and sharia-compliant instrument in supporting home ownership for the Muslim community in Indonesia.

This study examines the role of BRICS—an intergovernmental organization consisting of Brazil, Russia, India, China, and South Africa—in fostering global cooperation and contributing to world economic stability. BRICS was founded as a strategic response to the dominance of Western financial institutions such as the International Monetary Fund (IMF) and the World Bank, which have long been criticized for their unequal representation and decision-making processes favoring developed economies. In this context, BRICS provides an alternative financial architecture through the creation of the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA), both of which serve as instruments to support development financing and ensure financial security for its members. Grounded in the frameworks of constructivism and soft power diplomacy, BRICS emphasizes the principles of equality, mutual respect, sustainable development, and South-South cooperation. These values are reflected in its policies and initiatives that prioritize inclusivity, fair participation, and collective growth, especially for developing nations often marginalized in the global economic order. By representing more than 40% of the world’s population and contributing approximately 23% of global GDP, BRICS demonstrates its capacity to shape the international system and establish a more balanced distribution of power and resources. This research employs a qualitative descriptive approach based on secondary data, which is analyzed narratively to highlight the evolving dynamics of BRICS within the global economy. The findings indicate that BRICS has significant potential to challenge Western economic hegemony, enhance economic solidarity among emerging markets, and provide developing countries with greater opportunities for growth and cooperation. Ultimately, BRICS emerges not only as a counterweight to established global institutions but also as a transformative actor capable of reshaping the trajectory of international economic governance in the future.

This study aims to analyze the potential of micro, small, and medium enterprises (MSMEs) in enhancing the local economy through a case study of the Nay-Nay beverage business in Medan City. The research focuses on the contributions of MSMEs to job creation, income generation, improvement of purchasing power, development of local human resource skills, and the involvement of the local community in supply chain activities. A qualitative approach with a descriptive case study design was employed, utilizing semi-structured interviews, participant observation, and documentation analysis for data collection. The findings indicate that Nay-Nay plays a significant role in strengthening the local economic structure. The business creates employment opportunities for the surrounding community, increases household income, and contributes to the development of workforce competencies relevant to the food and beverage service industry. Moreover, the inclusion of local suppliers in the procurement of raw materials and distribution processes generates a multiplier effect that stimulates the local business ecosystem. Nonetheless, the enterprise faces notable challenges such as limited access to capital, price volatility of raw materials, and intense market competition. Overall, this study affirms that MSMEs are crucial drivers of inclusive and sustainable economic development and highlights the need for policy interventions that enhance managerial capacity and improve access to financing for small business actors.

The development of information technology has brought significant changes in various sectors, especially in the banking sector. However, the financing application service at the Muamalat Bank Situbondo Branch still uses manual methods that are inefficient and risky. This study aims to design a web-based financing application information system using the Prototype method, which can produce an information system design with a simple, user-friendly, and easy-to-operate interface, so that customers and bank officers can quickly understand the flow of use. In this study, the method used is a qualitative descriptive method with a case study approach. Data collection techniques include interviews with agency supervisors, direct observation in the field, and documentation. The results obtained from this study are an information system design that includes process modeling (UML), database modeling (Class Diagram), and user interface design. This system is designed to allow customers to apply for financing online, upload digital documents, and monitor the application status in real time. With this system, it is expected that the process of data verification and validation by bank employees will be faster and more accurate, and the risk of document loss can be minimized.

This study aims to identify and analyze the preparation of financial statements based on the Financial Accounting Standards for Micro, Small, and Medium Entities (SAK EMKM) in the Mebel Kerajinan Jepara business. A descriptive qualitative approach was employed using primary data obtained directly from business owners. Data collection techniques included in-depth interviews, observation of accounting records, and documentation of transaction evidence and records used in preparing financial statements. The data were analyzed descriptively to present systematic, factual, and accurate information about the actual accounting practices in the field. The findings reveal that the preparation of financial statements at Mebel Kerajinan Jepara has not yet fully complied with SAK EMKM. The business only keeps simple records of income and expenses in a notebook without producing complete financial statements such as the statement of financial position, income statement, and notes to the financial statements. The main constraints identified are the limited understanding of the business owners regarding the importance of accounting and the absence of human resources with accounting expertise. These findings highlight the need for assistance, training, and capacity building for business owners in the field of accounting to produce standardized financial reports, enhance business credibility, and support decision-making as well as access to financing. Thus, this study is expected to serve as a reference for local governments, educational institutions, and other related parties in providing accounting guidance to micro and small business actors.

His study aims to investigate the influence of investment decisions, financing, dividend policy, and profitability on the firm value of State-Owned Enterprise (SOE) banking companies listed on the Indonesia Stock Exchange (IDX) from 2019 to 2023. The research is motivated by the fluctuating firm value (PBV), which reached a low of 1.66 in 2020 and a high of 2.05 in 2022, indicating shifts in market perception. Using a quantitative approach and a purposive sampling method, this study analyzes secondary data from four SOE banks: PT Bank Mandiri Tbk, PT Bank Rakyat Indonesia Tbk, PT Bank BNI Tbk, and PT Bank BTN Tbk. The data analysis techniques include descriptive statistics, classical assumption tests, and multiple linear regression. The results show that investment decisions, dividend policy, and profitability have a significant positive effect on firm value. In contrast, financing decisions were found to have no significant effect on firm value. This study concludes that an integrated approach to financial management is essential for creating long-term firm value.

This study aims to (1) to find out how the role of Islamic microfinance institutions on micro businesses in Jambi city. (2) to find out how the development of Islamic microfinance institutions in Jambi city. (3) to find out what efforts are made by Islamic microfinance institutions (BMT) to increase their role towards micro enterprises in Jambi city. The problems discussed in this thesis are (1) how the role of Islamic microfinance institutions on micro businesses in Jambi city. (2) what influences the role of Islamic microfinance institutions (BMT) on micro businesses. (3) what efforts are made by Islamic microfinance institutions (BMT) to increase their role towards micro business ventures in Jambi city. The research method used is descriptive qualitative. The descriptive method of analysis is obtained through data sourced from observation, interviews, and documentation as well as other sources that support field research by finding data sources directly from the field, namely from the BMT through data collection and interviews with the parties concerned. The results of this study are the Financing mechanism at BMTs in Jambi city, namely BMT Al-Ishlah, BMT KOSSUMA, and BMT. Muslimah Masyitoh tends to be the same, the difference lies only in the tax year of the vehicle financing ceiling, and the length of installments. Financing includes several contracts, namely murabahah, ijarah, ar-Rahn, mudharabah, musyarakah and qordhul hasan. Analysis before channeling financing at BMT for prospective financing members includes: Character, Capital, Capacity, Condition, and Coleterol. The importance of Islamic microfinance by BMTs in Jambi city in empowering MSMEs is evidenced by the main target of BMT financing is small business actors who are not reached by banks. Simple procedures and applied financing are needed by Jambi city MSMEs in developing their businesses. The constraints of the Jambi city BMT cooperative in carrying out its business, namely financing in the context of empowering MSEs, include internal constraints and external constraints.

This study aims to analyze the influence of green financing, industrialization level, and fossil energy consumption on carbon emissions in Indonesia for the period 2018–2023. The method used is multiple linear regression with the Ordinary Least Squares (OLS) approach based on time series data. The dependent variable used is carbon emissions, while the independent variables include green financing, industrialization level, and fossil energy consumption. The results of the analysis show that both simultaneously and partially, the three independent variables do not have a significant effect on carbon emissions. The coefficients of green financing and industrialization tend to be positive, while fossil energy consumption is negative, but all are not statistically significant. These findings indicate that green financing policies, industrial development, and fossil energy consumption during the study period have not had a significant impact on carbon emissions in Indonesia. This study recommends the need to extend the observation period, add relevant variables such as the renewable energy mix, and optimize the implementation of green energy and financing policies to support carbon emission reduction in the future.