Islamic Principles Research Articles

ANALISIS KETEPATAN PRODUK PEMBIAYAAN KEPEMILIKAN EMAS TERHADAP FATWA DSN NO. 77/DSN-MUI/V/2010 PADA BANK BJB SYARIAH KCP CIKARANG

In contemporary times, the practice of purchasing goods through installment plans has become increasingly common, including in the case of Murabahah gold transactions. However, the prevalence of gold installment purchases has sparked debate, as the system resembles practices in conventional pawnshops and banks, leading to perceptions that Islamic and conventional banks operate similarly. This study aims to analyze the implementation and procedures of Murabahah contracts for gold ownership financing at Islamic Bank BJB Cikarang. Using a descriptive qualitative approach, the research simplifies data analysis to enhance comprehensibility. Data collection involved interviews, literature reviews, observation, and documentation, followed by qualitative analysis, descriptive evaluation, and conclusion drawing. The findings reveal three key points: first, the Murabahah contract implementation for gold ownership financing aligns with Islamic principles; second, the financing procedures adhere to Fatwa No. 77/DSN-MUI/V/2010; and third, there are differing scholarly opinions regarding the permissibility of non-cash gold transactions. Despite these differences, the study concludes that the financing procedures at Islamic Bank BJB Cikarang comply with the fatwa's provisions, underscoring their adherence to Islamic financial principles, while recognizing the ongoing debate among scholars on the permissibility of non-cash gold transactions.

Mapping the Growth and Trends of Research on Islamic Financial Management: a Bibliometric Analysis

Purpose: This study aims to evaluate the literature on Islamic financial management through a bibliometric approach, focusing on trends, patterns, and research contributions. Methodology: The method used in this study is quantitative descriptive with a bibliometric approach that analyzes 820 articles from the Scopus database. The tools used in this study are VOSviewers, R-Studio, and Microsoft Excel. Findings: This study highlights the importance of international and multidisciplinary collaboration in developing Islamic finance. This study also emphasizes the importance of sustainable development in the Islamic finance industry and the need for collaboration between various stakeholders to achieve this goal. Practical Implication: This study's findings can help practitioners formulate more effective strategies for marketing Islamic financial products. This study also provides a basis for policymakers to formulate regulations that support the growth of the Islamic finance industry. The right policies can encourage innovation, increase financial inclusion, and ensure Islamic financial products meet ethical and sustainability standards. Originality: This study provides deeper insights into the challenges and opportunities in the Islamic finance industry. With the increasing understanding of Islamic financial management, the public is expected to be more aware of the choice of financial products in accordance with Islamic principles that can increase public participation in a more inclusive and ethical financial system.

Tinjauan ’Urf terhadap Tradisi Arakan Pengantin dalam Pernikahan: Studi Kasus Desa Morocalan, Glagah, Lamongan

‘Urf refers to an action or expression that is repeatedly performed, regarded as good, and does not violate sharia principles. Marriage is the bond between a man and a woman, both physically and emotionally, aimed at building a family characterized by sakinah (tranquility), mawaddah (love), and rahmah (compassion). One of the traditions in marriage is the bridal procession, which involves escorting the bride and groom on foot after the wedding ceremony (akad nikah). This study aims to examine the implementation process of the bridal procession and its analysis through the perspective of urf. The research method used is qualitative, employing field research. The findings reveal that the bridal procession in wedding ceremonies in Morocalan Village, Glagah Sub-district, Lamongan Regency, is performed by the groom. The groom is escorted on foot from one end of the village to the bride's house. This tradition serves as an expression of gratitude for the end of bachelorhood and as a way to celebrate the wedding, which is considered a once-in-a-lifetime event. From the perspective of Islamic law and urf, the bridal procession is deemed a legitimate tradition, as it does not contravene Indonesia’s positive law or Islamic principles. Furthermore, this tradition carries positive values for both the bride and groom and their families.

Digitalisasi Toko Kelontong Melalui Program Ayo SRC dalam Perspektif Ekonomi Islam

This research aims to describe the management of the utilization of the Ayo SRC program application at SRC shops in Paciran sub-district as well as management and utilization from an Islamic Economics perspective. This research uses qualitative descriptive research with a case study type. Data collection was carried out using interviews, observation and documentation methods. To prove the validity of the data using triangulation. The data sources and analysis techniques used are data reduction steps, data presentation and drawing conclusions. The research results show that the management of the use of the Ayo SRC program application is in accordance with the management of retail store management, including the strategy for setting prices and store profits. The SRC shop is also digitizing so that it can keep up with current developments in various aspects. From an Islamic perspective, it is also in accordance with Islamic principles by not committing acts of maisir, gharar, dzalim, iktikar, usury. Meanwhile, the contract used in the MY AYO application uses a greeting contract, namely the buyer pays first and then the goods will be delivered by the seller to the consumers.

Balancing Justice and Tradition: An Islamic Legal Perspective on Constitutional Court Rulings Regarding Marriage Age

This study analyzes the Constitutional Court Decision Number 22 / PUU-XV / 2017 related to the age limit of Marriage from the perspective of Islamic law. The change in the marriage age limit in this law was passed based on the decision of the Constitutional Court of the Republic of Indonesia (MK) Number 22 PUU-XV/2017, which was born due to the controversy over the previous marriage law. This is a literature research by re-analyzing the policy content of the Constitutional Court of the Republic of Indonesia Number 22/PUU/XV/2017 decision. The analysis examines the legal basis, the applicant's legal standing, and the decision's relevance to Islamic law principles. The results showed that the Constitutional Court's decision was based on valid legal standing and rational arguments. This decision is in line with the value of Islamic law in paying attention to maslahah (benefit). Still, there are differences in certain methodological aspects, especially in the maslahah mursalah approach. The findings also reveal that the change in the marriage age aims to reduce discrimination against women and protect their health, education, and socio-economic rights. From the perspective of Islamic law, the minimum age of Marriage is ijtihadiyah and can be adjusted to the context of the times, as the principle of maqashid al-shari’ah is oriented towards the welfare of the people. This research recommends further harmonizing Islamic and national law to create fairer and more applicable rules.

Analisis Kontrak Syariah Dalam E-Commerce: Studi Terhadap Akad Murabahah dan Salam di Era Digital

The development of e-commerce presents significant opportunities for Muslims to engage in digital transactions that align with Islamic legal principles. This study aims to analyse the application of Shariah-compliant contracts, specifically murabahah and salam, in digital transactions and identify the challenges faced in their implementation. Using a descriptive-analytical approach, this research examines the validity of these contracts in e-commerce based on fiqh al-muamalat, DSN-MUI fatwas, and maqasid al-shariah. The findings reveal that murabahah and salam contracts are highly adaptable to e-commerce due to their emphasis on transparency and fairness. However, several key challenges were identified, including the potential for gharar caused by inaccurate product descriptions, the contentious validity of digital ijab and qabul, and the risk of riba in instalment-based payment systems. Proposed solutions include strengthening regulations tailored to Shariah-compliant e-commerce platforms, educating consumers and business actors on Shariah-compliant contracts, and providing more transparent transaction mechanisms to minimise gharar. This study concludes that implementing Shariah-compliant contracts in e-commerce aligns strongly with maqasid al-shariah, particularly in safeguarding wealth and ensuring justice for all parties involved.

Peran Teknologi Blockchain dalam Keuangan Syariah: Analisis Tantangan dan Solusinya

This study aims to explore the role of blockchain technology in enhancing the operations of Islamic financial institutions, specifically in terms of increasing transparency, efficiency, and compliance with Shariah principles. Using a qualitative descriptive-analytical approach, the research examines the technical, regulatory, and operational challenges associated with blockchain implementation and proposes strategic solutions to ensure sustainable integration. Blockchain, through distributed ledger technology (DLT), offers transparency and efficiency that align with Islamic finance principles, as evidenced in the application of sukuk. The use of smart contracts further strengthens operational efficiency, reduces gharar (uncertainty), and ensures Shariah compliance. Although blockchain presents significant advantages, this study finds that a major challenge lies in the environmental impact of consensus protocols like Proof of Work (PoW), which requires high energy consumption. This impact conflicts with Maqasid al-Shariah, which prioritizes welfare and environmental preservation. The use of more eco-friendly protocols, such as Proof of Stake (PoS) and Proof of Authority (PoA), is identified as a more efficient solution. Additionally, inadequate regulation in various Muslim-majority countries poses another barrier. Cross-border regulatory harmonization is necessary to ensure that blockchain can be applied in accordance with Shariah principles globally.

Policy Brief: Higher Education Financing System

Purpose - The objective of this policy brief is to provide policy recommendations to address problems of higher education financing system in Indonesia. Recent news reported that the total amount of interest-based online student loans given to students in various universities in Indonesia reached Rp 450 billion on February 26, 2024. The Chairman of the Business Competition Supervisory Commission (KPPU) stated that interest-bearing loan products are not in line with Act No. 12/2012 Article 76 of the Higher Education Law which prohibits the provision of interest-bearing loans. Methodology - The methodology used is descriptive approach which includes determining the objectives, conducting the research process including data collection, analyzing the benefits and costs, the basis for policy choices, and recommendations. Result - As a result, this policy brief proposes a recommendation, namely Student Tuition Fee Assistance with a Social Loan Scheme. Furthermore, in the implementation stage, several organizations must be involved, including the government and social lenders. Implication - This Policy Brief highlights the urgent need for policy and regulatory reforms to address the reliance on interest-based student loans, which are in contravention of Indonesia’s Higher Education Law. Rising tuition fees and inadequate repayment schemes limit access for economically disadvantaged students, underscoring the importance of equitable financing models, such as interest-free social loan schemes that leverage Zakat, Infaq, Sadaqah, and Waqf (ZISWAF) funds. By integrating financial technology and Islamic finance principles, these models can improve accessibility and efficiency while promoting social and economic justice. Furthermore, addressing these financing issues is critical to reducing graduate unemployment and supporting national economic growth, Keyword - Higher Education, Student Loan, Social Loan, ZISWAF

Harmonizing Tradition and Sharia

This study aimed to analyze the application of Istishab, a tenet of Islamic jurisprudence, to address the issues of non-negotiated fish prices within the Iha community, Central Maluku, Indonesia. The community was characterized by complicated relationships between religious principles and cultural traditions, which frequently led to tension. The analysis addressed a significant issue which included the reconciliation of the centuries-old traditions of the community with the Sharia law to prevent disagreements and ensure the group's economic viability. Using in-depth interviews with stakeholders, detailed market observations, and thorough document analysis, this study investigated the social, financial, and normative dynamics of Istishab through a qualitative case study methodology. The results showed that Istishab stabilized prices, reduced conflicts, and supported the community's economic resilience by mediating between Islamic legal principles and cultural practices. This showed the adaptability of Islamic law in adopting and reinforcing local traditions. Furthermore, the study showed how Istishab served as a bridge between cultural and Sharia disputes. It concluded that Istishab provided a practical solution for maintaining harmony in economic transactions within multicultural communities. The results possessed broader implications for the integration of Islamic legal concepts with local practices to promote communal stability.

Analisis Hukum Ekonomi Syariah Terhadap Produk Simpanan Di BMT Kota Payakumbuh

This study is motivated by the importance of compliance with Islamic economic law principles in savings products offered by Islamic financial institutions, such as Baitul Maal wa Tamwil (BMT). Previous research has largely focused on marketing aspects and the impact of savings products on financial institution revenue, but has not specifically addressed the implementation of wadi’ah and mudharabah contracts and the implications of unclear contracts on Sharia compliance. This study aims to analyze the application of Islamic economic law in savings products at BMT in Payakumbuh City, focusing on wadi’ah and mudharabah contracts. This research adopts a qualitative approach with a case study method. The study was conducted at BMT in Payakumbuh City from June to August 2024. Data sources consist of primary data obtained through in-depth interviews with BMT managers and customers, and secondary data in the form of contract documents used by BMT. Data collection techniques include interviews and document analysis, while data analysis uses qualitative descriptive methods with a non-statistical approach. To ensure data validity, member checking and source triangulation techniques were employed. The results indicate that the implementation of wadi’ah and mudharabah contracts in savings products at BMT in Payakumbuh City generally complies with Sharia principles, although there are some challenges related to contract clarity and communication with customers. This study is expected to contribute to the development of understanding of Islamic economic law and the practice of savings products at BMT, as well as increase public awareness in choosing Sharia-compliant financial products.

STOCK PRICE FORECASTING USING THE HYBRID ARIMA-GARCH MODEL

In the current era, many people have made investments, namely capital investment activities within a certain period to seek and get profits. One of the most popular investment instruments in the capital market is stocks, which consist of conventional stocks and Islamic stocks. Conventional stocks are shares traded on the stock market without adhering to Sharia principles. In contrast, Sharia-compliant stocks meet Islamic principles and are traded in the sharia capital market. One form of development of the Islamic capital market in Indonesia is the existence of the Indonesian Sharia Stock Index (ISSI), which projects the movement of all Islamic stocks on the Indonesia Stock Exchange (IDX). Stock prices change every day so modeling is needed that can be used by investors to determine decisions. The Autoregressive Integrated Moving Average (ARIMA) model is one of the forecasting models that is applicable. Stock prices have volatility that tends to be high, this results in variance that is not constant or there is a heteroscedasticity problem, at the same time the ARIMA model must fulfill the assumption of homoscedasticity. Therefore, it is necessary to combine the ARIMA model with a model that can overcome the problem of heteroscedasticity, namely the Generalized Autoregressive Conditional Heteroskedasticity (GARCH) model. This research aims to get the best hybrid ARIMA-GARCH model that will be used to forecast the stock price of the ISSI. The daily closing data of the ISSI stock price from May 4, 2020, to January 13, 2023, is the data that was used. The study’s findings suggest that ARIMA (0,1,3)-GARCH (2,0) is the best model among all possible models for ISSI stock price forecasting. By evaluating the predictive accuracy of the model using Mean Absolute Percentage Error (MAPE), the forecasting result for ISSI stock prices using the best model, ARIMA(0,1,3)-GARCH(2,0) at 0,6092%, shows a forecasting that is close to the actual data, which means that the model used is highly effective at forecasting stock priced

Penerapan Nilai-Nilai Islam dalam Manajemen Sumber Daya Manusia

Human resource management plays an important role in the success of an organization, influencing productivity, efficiency, and reflecting the organization's values and principles. Islam provides relevant guidance for managing human resources in a fair, ethical, and sustainable manner, emphasizing the fulfillment of workers' rights, the creation of a supportive work climate, and integrity at work. Principles such as justice, work ethics, wise leadership, deliberation, and employee welfare are the main foundations in Islamic-based human resource management. This study uses a qualitative method with a literature review from the Qur'an, hadith, and references related to human resource management in Islam. Through content analysis, this study finds that the application of Islamic principles in HR management can create a fairer, harmonious, and productive work environment, which ultimately contributes to the well-being of all parties in the organization.

Legal Solutions for Domestic Violence in Unregistered Marriages in Indonesia: Integrating Maqāṣid al-sharī’ah

This research investigates the legal protection available for domestic violence (KDRT) victims within unregistered marriages (nikah siri) in Indonesia. It assesses the difficulties arising from the lack of formal recognition for these marriages and evaluates how Maqāṣid al-sharī’ah principles can improve legal protection and fill existing gaps in Indonesian law. The study proposes integrating Indonesian marriage law principles with national frameworks to enhance victim protection. A qualitative approach is used, including descriptive analysis of legal documents, case studies, and jurisprudential interpretations. Data were gathered through literature reviews, document analysis, and interviews with legal experts. The focus is on how Maqāṣid al-sharī’ah principles apply to Indonesian domestic violence laws and the role of itsbat nikah in providing legal remedies. Findings indicate that Indonesia's current legal system inadequately supports victims of unregistered marriages, creating significant barriers to justice and protection. The research underscores that Maqāṣid al-sharī’ah ’s focus on safeguarding life and lineage can form a solid basis for legal reforms. Itsbat nikah is identified as a key solution for officially recognizing these marriages and enhancing legal safeguards. This research is distinctive in merging Maqāṣid al-sharī’ah with Indonesian law, presenting a fresh perspective on improving legal protection for victims in unregistered marriages. By aligning Islamic principles with modern legal practices, the study offers a framework to better support and protect victims. The study's implications suggest that integrating Maqāṣid al-sharī’ah into legal reforms could strengthen protections and foster a more inclusive legal system.

The Role of Halal Certification In The Digitalization Of Small And Medium Enterprise Students Of The Social Science Education Department Iain Syekh Nurjati Cirebon

Globalization is characterized by the use of information and communication technology in the era of industrial revolution 4.0 as the basic capital needed by industrial players to develop businesses, including MSMEs in higher education. The problems in this research include: how to halal certification for student MSMEs and how to implement digitalization of small and medium enterprises among students. The halal theory from the World Halal Council (WHC) and halal certification bodies mentions ethical aspects in business so that producers operate honestly, fairly and transparently in line with Islamic principles. In the field of education, Freire's theory focuses on education as the main key to social empowerment because through education, people are able to develop abilities and skills to participate effectively in economic empowerment. Qualitative method research with a phenomenological approach explores halal certification, the development of student MSMEs, the Social Mart application and the implementation of digitalization of MSMEs. Firstly, the researcher observes and analyzes the phenomenon of halal certification with the digital economy which is the research topic, secondly determines the focus of the research based on the results of initial observations and interviews with entrepreneurial students. The three sources of data collected were observations, information from several entrepreneurs and course lecturers. The research results show that halal certification and digitalization of MSMEs have a positive impact on the development of MSMEs. has higher sales figures when compared to MSMEs that have not implemented digitalization because they have higher operational efficiency

Integration of Islamic Jurisprudence Principles within the UN Global Human Security Framework

This study explores the integration of Islamic jurisprudence principles, particularly maqāṣid al-Sharīʿa (objectives of Islamic law) and ḍawābiṭ (regulatory principles ensuring adherence to justice and moderation), into the United Nations' (UN) Global Human Security Framework. Using a recommendatory legal research methodology, this study analyses international legal documents, such as UNGA Resolution 66/290, and classical Islamic texts, including Al-Ghazali’s Al-Mustasfa. The findings reveal a strong alignment between maqāṣid al-Sharīʿa and the human security dimensions outlined by the UN, encompassing protection of religion, life, intellect, lineage, and wealth. By incorporating Islamic principles, this research offers a culturally inclusive and ethically grounded approach to global security challenges. The application of ḍawābiṭ highlights the importance of balancing justice and moderation in addressing critical issues such as economic inequality, humanitarian crises, and governance challenges. This study contributes to the discourse on global human security by proposing a novel framework that bridges religious law and international governance, providing a foundation for future interdisciplinary studies.

IMPLEMENTASI NILAI KEWAJIBAN PEMIMPIN DALAM ISLAM PADA KEBIJAKAN PEMERINTAHAN DESA BERDASARKAN UU NO. 6 TAHUN 2014

Village governments play a central role in Indonesia's governance structure as public service providers at the local level. This research aims to analyze the implementation of Islamic values of leader obligations, such as trustworthiness, justice, and deliberation, in village governance policies based on Law No. 6/2014 on Villages. Using a normative juridical method with statutory, conceptual, and comparative approaches, this research evaluates the implementation of Islamic values through document and literature studies. The results show that although Islamic leadership principles are reflected in the duties of the village head, such as fair management of village funds and community empowerment, implementation faces challenges, including limited resources, diverse understanding, and integrity issues. The study also identified strategic solutions, such as continuous training, strengthening supervision, and increasing community participation. In conclusion, Islamic leadership values have strong relevance in village governance policies and can improve the quality of village governance if optimally implemented. This research contributes to the understanding of the integration of Islamic values in the context of modern governance and recommends more in-depth follow-up studies on specific cases to enrich the literature in this field.

Sharia-Based Green Economic Transformation: A Maqasid Framework for Sustainable Social and Environmental Development Through Industrial Policy and Innovation

The main problem in this study is the lack of a comprehensive integration model between sharia-based industries and green economy principles that also support religious moderation and desire. (Shamil Shovkhalov1,2,* 2024. Principles of Islamic economics and its contribution to the ecological ecosystem and green economy development of WFCES). Although the existing literature has extensively addressed aspects of the Shariah economy and the green economy separately, only few have highlighted how these two concepts can be combined to achieve broader goals, including ummah moderation and social welfare. (Prof. Dr. Tariqullah Khan, 2023 Climate Crisis Mitigation – Maqasid Al-Shariah Framework in Islamic Economics Articles on Islamic Economics). This study aims to develop a new framework that integrates Islamic economic principles, specifically Maqasid Shariah, with green economic practices to support not only ecosystems, but also religious moderation. (Christoph Mueller-Bloch Johann Kranz 2015 A Framework for Rigorously Identifying Research Gaps in Qualitative Literature Reviews Conference: Proceedings of the 36th International Conference on Information Systems (ICIS)). The research method used was a qualitative approach with literature study and content analysis of various relevant data sources, including scholarly journals, reference books, and policy reports. The obtained data were analyzed to identify gaps in the literature and formulate the proposed framework. (Abdurahman J. Yesuf a, Dalal Aassouli ab 2020 Exploring synergies and performance evaluation between Islamic funds and socially responsible investment (SRI) in the light of Heliyon’s Sustainable Development Goals (SDGs)). The results of the study suggest that the integration between Shariah-based industries and the green economy can make a significant contribution to environmental and social poverty, stressing the importance of religious moderation as a key element in sustainable development strategies. (Abdurahman J. Yesuf a, Dalal Aassouli ab 2020 Exploring synergies and performance evaluation between Islamic funds and socially responsible investment (SRI) in the light of Heliyon’s Sustainable Development Goals (SDGs)). The conclusion of this study is that the proposed framework can serve as a guide for stakeholders in developing policies and practices that support sustainability and broader social well-being through harmonious integration between the Islamic economy and the green economy.

Moneylender Free Village: A Case Study of Fostering Social Piety in the Cikuasa Community, Cilegon City, Indonesia

This study investigates the Moneylender Free Village (MFV) program within the Cikuasa community, Cilegon City, Indonesia, examining its role in fostering Islamic economic principles and social piety. Through qualitative descriptive research involving interviews with 20 purposively selected respondents, this study explores the negative impacts of loan shark practices on the community, the formation and implementation of the MFV program with the guidance of NGOs and Islamic banking, and the subsequent empowerment of social piety among community members. Findings reveal that the MFV program effectively mitigates the detrimental effects of loan sharks, fostering economic stability and social well-being. Furthermore, the study demonstrates how the program contributes to the enhancement of social piety through increased awareness of Allah's supervision, the cultivation of ihsan (excellence in worship and conduct), and the promotion of beneficial social interactions within the community.

THE PROCUREMENT CONTRACT RESPONSIBILITIES IN BLANGPIDIE DISTRICT COURT

This study aims to analyze the responsibility of PT. Juang Awe Karya (PT. JAK) in the procurement contract for goods at the Blangpidie District Court, Southwest Aceh, from the perspective of Bai' Musawwamah theory. Bai' Musawwamah is a buying and selling principle that emphasizes agreement on price and product specifications through deliberation, which is relevant in public procurement practices that prioritize transparency and fairness. The method used in this study is a juridical-empirical approach with a descriptive qualitative method, collecting data through interviews and direct observation of relevant parties, such as the management of PT. JAK and the Blangpidie District Court. The results of the study show that the procurement contract has been carried out according to the principles of Bai' Musawwamah, with clear agreements on price and specifications. However, PT. JAK experienced a violation in the form of delayed delivery of goods, which resulted in sanctions as stipulated in the contract. PT. JAK’s responsibilities include the obligation to provide goods according to specifications and on time, as well as to replace or repair goods if quality issues arise. The application of the Bai' Musawwamah principle in this contract ensures transparency, fairness, and open communication between the Blangpidie District Court and PT. JAK, as well as dispute resolution through deliberation. This study is expected to contribute to the understanding of the application of Islamic principles in procurement and its impact on the relationship between suppliers and consumers of goods.

A Comparison of Shura and Deliberative Democracy Decision-Making Methods: Similarities and Differences

Shura is a decision-making model in Islamic governance that aims to make the right decisions for society in general and inclusively. While Allah has established the general framework for various issues, particularly administrative matters, the specific details are left to human discretion, to be determined through Shura and consultation. The significance of Shura is underscored in verse 38 of Surah Ash-Shura, where it is mentioned alongside fundamental Islamic principles such as prayer and zakat. Conversely, the democratic management model, a human construct, has evolved since ancient Greece, undergoing transformations resulting in diverse forms such as direct, representative, liberal, social, radical, dialogic, agonistic, and deliberative democracy. This study aims to compare the principles of Islamic governance with those of deliberative democracy. By analyzing their similarities and differences, this research seeks to evaluate the compatibility of these two governance frameworks. The findings provide insights into their potential alignment or divergence, contributing to a broader understanding of decision-making practices in diverse cultural and philosophical contexts.