Religiosity is one of many essential aspects that stands as the motivation of people’s behaviour. Its importance expands to the field of banking, especially Islamic banks that take Islamic teaching as their backbone. This study aimed to seek religiosity motivation among Islamic bank depositors by exploring the possible asymmetric effect of interest rates on the type of deposits. By using the NARDL approach, this study investigates the relationship between the conventional deposit interest rate on the type of depositors and deposit maturity by using monthly data from April 2015 until March 2020 of Indonesia’s Islamic banks. The results show that government deposit in Islamic bank is not affected by the raise of interest rate. In addition, all deposits that showed the possibility of asymmetry effect indicated that the increase of interest rate (LIR+) has a positive coefficient. In general, Indonesian Islamic bank depositors’ are religiously loyal and not attracted to the fluctuation of interest rates. The result also found that short-run asymmetric dynamics show convergent to long-run asymmetry after an average of 15 months. As for the policy implications, stakeholders must ease the regulation of Islamic banks such as the conversion of conventional banks to Islamic banks, since it is proven that customers are mainly religiously driven.

This study investigates the determinants of a Muslim consumer in buying skincare products considering the attributes exist in skincare products. The purpose of this study is to find out the components of skincare products shaping the preferences of Muslim costumers in buying skincare products. Moreover, this study specifically attempts to identify the most significant aspect influencing the preferences of Muslim consumers. This study is a field research study with the sample of study of University Students in Surakarta. The result complies the previous studies on the topic and gives a pivotal input for skincare industry. This study recommended a robust framework for halal products to compete with its counterparts and suggested the policy makers on designing an environmental friendly products leading the nation’s economy and long-term prosperity.

During the COVID-19 pandemic, Baitul Maal Wat Tamwil (BMT) in Sukoharjo, a region of Indonesia is consistently contributing to the empowerment of Micro, Small and Medium Enterprises (MSMEs). Hence, how the BMT empowers the MSMEs is a worthy attribute to explore. The current study delves into an in-depth exploration on the strategies and policy innovations carried out by the BMTs as well as to analyse the impact or influence caused by the existence of these strategies. The method used in this research is field research with a qualitative approach. Data collection techniques were carried out through observation with interviews with various related parties. The results showed that the empowerment strategy carried out by BMT Dana Mulia and BMT Makmur Mandiri was by implementing a restructuring policy in an effort to maintain the stability of the institution's operations. Meanwhile, BMT Bina Ummah Sejahtera has tightened risk mitigation by making efforts to be more careful in conducting financing and deposit transactions, using online media and the three BMTs providing business assistance. The influences that arise with this strategy are providing ease of capital assistance during the COVID-19 pandemic, assisting business development of MSMEs, minimizing the risks faced by MSMEs, and encouraging the spirit of MSMEs in marketing their businesses.

This study discusses the application of Islamic values in sharia cooperatives in Indonesia. Islamic values in sharia cooperatives properly and correctly reflect the welfare and trust of sharia cooperative customers. This study also aims to determine the Islamic values applied to sharia cooperatives in Indonesia and to find out how the implementation of Islamic values is carried out in their business activities. This paper adopts field research with qualitative research methods. Data collection techniques in this study by means of observation, interviews, online databases, and documentation. The results of the study indicate that Islamic values applied to sharia cooperatives in Indonesia include honesty values, consistency values, communicative values, trust values, equality values, monotheism values, ta'awun values, and family values. The application of Islamic values carried out by sharia cooperatives in Indonesia by stipulating that customers in entering into agreements must be honest, in carrying out all transactions correctly and correctly according to sharia rules, offering sharia cooperative products to the public, and expecting customers to provide full responsibility to the sharia cooperative. Consequently, sharia cooperatives in Indonesia must improve even more regarding the applied Islamic values, and are expected to maintain and carry out properly and correctly the implementation of Islamic values.