SOUTHEAST ASIA JOURNAL oF GRADUATE OF ISLAMIC BUSINESS AND ECONOMICS

The Impact of Macroeconomic Indicators on the Movement of Third-Party Funds at Bank Kalbar

Teddy Wahyudi — 2026-07-25

Third Party Funds (TPF) represent the primary funding source in the banking industry and play an essential role in supporting financial intermediation. The ability of banks to collect public funds is influenced by internal and external factors, including macroeconomic conditions. This study aims to analyze the influence of macroeconomic indicators, namely BI-Rate and inflation, on the movement of Third Party Funds at Bank Kalbar. This study employed a quantitative approach using the Vector Autoregression (VAR) method. Secondary quarterly time-series data from January 2013 to September 2025 were collected from Bank Kalbar publications, Bank Indonesia reports, and Statistics Indonesia. Analytical procedures included stationarity testing, optimal lag determination, cointegration testing, and VAR estimation. The results indicate that all variables achieved stationarity at the first difference level (I(1)) and demonstrated long-term relationships. Findings suggest that BI-Rate and inflation are associated with the movement of Third Party Funds at Bank Kalbar. Therefore, fund mobilization strategies should consider macroeconomic developments to maintain sustainable growth.

Green Economy And Brand Image Development In SMEs At Islamic Boarding Schools

Baisuni — 2026-09-04

The growth of the green economy is encouraging businesses, including pesantren-based MSMEs, to adopt sustainable business practices to enhance their competitiveness and brand image. This study aims to analyse the role of the green business model in enhancing the brand image of Mercalam products as a pesantren-based SME in the era of the green economy. Although various studies have discussed green business and brand image in SMEs, research specifically examining the application of the green business model in pesantren-based SMEs remains limited. Furthermore, the integration of green economy principles and Islamic values as shapers of brand image has not been extensively studied. This study contributes to enriching the literature on the green economy amongst pesantren-based SMEs and provides a model for strengthening brand image based on sustainability and Islamic values. The study employs a qualitative approach using a case study method focused on Mercalam, located in Pasak Village, Sungai Ambawang Sub-district, Kubu Raya Regency. Data were collected through observation, interviews, and documentation of production processes, business management, and the sustainability practices implemented. The results indicate that the green business model is implemented through the use of local raw materials, efficient production processes, responsible waste management, and the empowerment of the surrounding community. These practices reinforce consumers’ positive perceptions of Mercalam as an environmentally friendly SME that is committed to.

The Potential For The Development Of Halal Tourism At The Marine Tourism Park In The South Jawai Subdistrict, Sambas Regency

Wanto — 2026-10-19

Halal tourism development has emerged as a strategic catalyst for enhancing regional economic diversification rooted in Islamic values. This study aims to analyse the empirical conditions, evaluate the potential for halal tourism development, and identify the driving and inhibiting factors at Taman Wisata Bahari, Jawai Laut Village, South Jawai District, Sambas Regency. Employing a qualitative descriptive field research approach, data were gathered through in-depth interviews with site managers, local vendors and tourists, complemented by participatory observation and documentation. Analytical procedures comprised data reduction, data display and conclusion verification, authenticated via methodological and source triangulation. The findings reveal that Taman Wisata Bahari has undergone substantial enhancements in accessibility, culinary outlets and coastal recreational facilities. The destination demonstrates strong potential for halal tourism through its unspoilt natural attractions, access to halal food, adequate prayer facilities, and Muslim-friendly accommodation practices that adhere to Islamic ethical standards. However, institutional growth is primarily constrained by a lack of financial capital and bottlenecks in supporting infrastructure, despite high visitor interest. This study suggests the need for collaborative synergy amongst local government authorities, community-based tourism stakeholders, and Islamic financial institutions to institutionalise coastal halal tourism standards and sustainable funding mechanisms in Sambas.

The Influence of Price, Security, and Effectiveness on Purchasing Decisions of Halal-Certified Cosmetic Products among Chinese Ethnic Consumers in Singkawang

Dyah Andrianti — 2026-09-30

The cosmetics industry in Indonesia has experienced significant growth, driven by changing lifestyles, increasing awareness of self-care, and the ever-expanding influence of social media. In recent years, halal certification has emerged as an important consideration for consumers, not only from a religious perspective but also as an indicator of product safety, hygiene, and quality. Interestingly, the demand for halal cosmetic products is not limited to Muslim consumers but has also expanded to non-Muslim communities, including the ethnic Chinese population in Singkawang City a community with considerable purchasing power. This phenomenon highlights the need to examine the factors influencing halal cosmetic purchasing decisions among non-Muslim consumers. This study aims to analyze the influence of price, product safety, and effectiveness on the decision to purchase halal cosmetics and to identify the most dominant influencing factors. A quantitative approach using a correlation survey method was employed in this study. This study involved 150 respondents selected through purposive sampling, consisting of ethnic Chinese consumers residing in Singkawang who had previously purchased halal cosmetic products. Data were collected using a Likert-scale questionnaire that had passed validity and reliability tests, with a Cronbach’s Alpha value of 0.999, indicating excellent reliability. Data were analyzed using multiple linear regression with SPSS version 30. The findings indicate that price and effectiveness have a positive and significant influence on purchasing decisions, whereas product safety does not significantly influence consumer decisions. Furthermore, the F-test confirms that price and effectiveness together have a significant influence on purchasing decisions (p < 0.001). These results indicate that ethnic Chinese consumers in Singkawang prioritize competitive prices and tangible product effectiveness over safety considerations, although the halal label still provides added value. This study contributes to the literature on non-Muslim consumer behavior toward halal products and offers practical insights for cosmetics companies in developing effective marketing strategies.