Islamic Economic Practice Research Articles

Sejarah Pemikiran Ekonomi Islam

Islam was introduced during the time of the Prophet Muhammad SAW, but only developed significantly in the 1970s. In the sixth and seventh centuries AD, during the life of the Prophet Muhammad SAW and at the same time as the Qur'an was revealed, the concept of Islamic economics began to emerge. Even though Islamic economics is still in the process of development, it has made progress during the reign of the Prophet in Medina, where he succeeded in explaining the principles of financial management. Islamic economic practices during the time of the Prophet, Khulafaurrasyidin, and Tab'in showed how important the market was. The Prophet highly appreciated reasonable prices determined by market mechanisms.

Perspektif Akuntansi dalam Ekonomi Islam

In several ways, the sharia accounting system is different from conventional accounting. However, there are axiomatic technical similarities between the two. By using descriptive qualitative methods, this research aims to provide the author with an understanding of accounting theory and practice in Islamic economics. The research results show that the perspective of accounting science in Islamic economic practice focuses on the use of an accounting system that is in accordance with sharia principles, which prioritizes truth, accuracy and fairness. Surah Al-Baqarah verse 282 emphasizes clear and accurate transaction recording, the use of honest writers, financial accountability, zakat, and transparency and fairness in accounting. The results of this research conclude that there are many ways to see the economic implications of Islam today. First, Islamic economics must adapt to technological changes because they have influenced the way people think and act. Second, the history of Islamic economics has changed in the modern era, and third, Islamic economics is now real and relevant with the development of digital technology. Fourth, the concept of Islamic economics is based on the Koran and Sunnah. Compared to Conventional Accounting: Sharia accounting systems differ from conventional accounting in several key aspects. However, there are axiomatic technical similarities between the two.

PATTERNS OF ISLAMIC ECONOMIC INSTITUTIONS

The study of the Pattern of Islamic Economic Institutions is very important to be studied more deeply. This is because the study never ceases to be debated. The purpose of this paper is to understand 3 things: First, the Pattern of Islamic Economics. Second, Islamic Economic Institutions internal and external factors that affect society. Third, the positive and negative implications. The method used is literature review, with a descriptive approach based on qualitative theory, while data collection is descriptive and analyzed using content analysis techniques. The results found 3 things: First, there are 3 forms of Islamic Economic Patterns: Sharia Economy, Wellbeing, Islamic Banking. Second, internally there are 3 factors that influence: The methods of Islamic economic practice, Improving the quality of human resources, Expanding the number of Islamic Bank offices. As for externally there are 3 factors: Investor decline, public awareness, Muslim intellectual movement. Third, there are 3 positive implications: Anticipation of monopoly, Zakat and Rikaz policy, Impact of careful planning. Meanwhile, there are 3 negative implications: Limitation of Investment, complicated Akad for ordinary people, Decrease in Islamic Bank Customers. The conclusion that this paper shows that Islamic economics in principle and practice has the principle of justice and benefit. Keywords: Patterns, Institutions, Islamic Economics.

Penganggaran dan Pembiayaan Pendidikan yang Efektif dan Efisien

In several ways, the sharia accounting system is different from conventional accounting. However, there are axiomatic technical similarities between the two. By using descriptive qualitative methods, this research aims to provide the author with an understanding of accounting theory and practice in Islamic economics. The research results show that the perspective of accounting science in Islamic economic practice focuses on the use of an accounting system that is in accordance with sharia principles, which prioritizes truth, accuracy and fairness. Surah Al-Baqarah verse 282 emphasizes clear and accurate transaction recording, the use of honest writers, financial accountability, zakat, and transparency and fairness in accounting. The results of this research conclude that there are many ways to see the economic implications of Islam today. First, Islamic economics must adapt to technological changes because they have influenced the way people think and act. Second, the history of Islamic economics has changed in the modern era, and third, Islamic economics is now real and relevant with the development of digital technology. Fourth, the concept of Islamic economics is based on the Koran and Sunnah. Compared to Conventional Accounting: Sharia accounting systems differ from conventional accounting in several key aspects. However, there are axiomatic technical similarities between the two.

Legal analysis of derivative transactions in islamic economics

The legal position regarding derivative transactions in Islamic economic practices has attracted significant attention from Islamic financial institutions such as AAOIFI and DSN-MUI. Derivative instruments can be incorporated into the sharia framework as long as they fulfil the core principles of sharia such as being free from elements of riba (interest), gharar (uncertainty), and maysir (gambling). These bodies have issued guidelines and fatwas such as the DSN-MUI fatwa No. 96/DSN-MUI/IV/2015, which permits the use of derivatives for hedging purposes under a number of strict requirements that ensure transparency and fairness and emphasizes that transactions are based on real needs and not speculation. However, implementing these legal guidelines on the ground faces various challenges. Key challenges include correctly applying derivative instruments so that they do not turn into prohibited tools of malicious speculation. Strict supervision and audit systems are needed to ensure compliance with Shariah principles on an ongoing basis, as well as ensuring transparency in the execution of transactions. In addition, in-depth training and education for Islamic finance practitioners is essential to support proper and effective implementation. Thus, the legal position regarding derivative transactions in the Islamic economy is clear and feasible to implement with strict supervision and supported by continuing education.

Pemberian Pinjaman Kredit dalam Perspektif Pemikiran Ekonomi Islam

The purpose of this article is to explain the credit system that exists at the moment. The method used is to study the theories of riba and its prohibitions contained in the Quran and Hadith. Through this study, it can be conceptually formulated Islamic economic practices, especially in terms of financing by buying and selling system. The results of the discussion showed that the Basic Rules of credit sales are allowed. Shaykh Ibn Usaimin said: buying and selling on credit is someone selling something (goods) at a certain price and immediately paying it off, this is allowed according to the original law in accordance with the command of Allah QS. Al-Baqarah: 282. In this case, the Medan City Government Civil Servant Cooperative (KPN Pemko Medan) in its work system has not been separated from ribawi elements that are not in accordance with Islamic economic principles.

Islamic Economic System in Practice: Beyond Merely Islamic-based Transactions

Islamic economic system is well-known for its not-so-generally accepted concept, a gap between theory and reality, and paradigm disputes. Regarding the different thoughts and the need for economic, social, and moral values; this study intends to elaborate on the Islamic economic system practice at a mezzo level in Pondok Modern Darussalam Gontor (PMDG). This study presents the novelty of the Islamic economic system practice with authority protection and Islamic worldview. Data were collected through semi-structured interviews and interpreted narratively. This study finds that the Islamic economic system in PMDG comprises economic agents and Islamic institutions, transactions, worldviews, and behaviors with market protection to ensure efficient resource allocation and business units’ sustainability. Economic agents consist of a foundation, the chairman as an economic and religious-related decision maker, the management of business units, and the society surrounding PMDG. PMDG allocates resources and regulates market protection through Islamic institutions and transactions to prevent unhealthy competition. The Islamic worldview and behaviors are shown by the integration of modern knowledge and Islamic principles with cooperation and brotherhood. Eventually, the whole process of the Islamic economic system implies the social welfare of internal PMDG and the surrounding community, as well as the achievement of the objective of Sharia. Further research can investigate the more challenged implementation of Islamic economics in a macro-level system and diverse society. Keywords: Islamic economic system, Islamic transactions, protection, Islamic worldview, Islamic behaviors

Negara Sebagai Mediator Tumbuh Kembangnya Ekonomi Berbasis Syariah: Perspektif Filsafat

Islamic economics is an economic system that is a minority used in the world compared to other economic systems. Islam is a comprehensive religion and governs all aspects of life including economics. Islamic economics aims to create economic schemes that refer to Islamic principles, such as social justice, balance, avoiding usury, and sustainable growth. The economic sources of sharia come from the Quran, as Sunnah or al Hadith, the history of Islamic society, and empirical data. The state has an important role in supporting and regulating Islamic economic practices through appropriate regulations and policies. The state and the Islamic economy have the same interest in creating social justice, economic stability, and public welfare. The relationship between religion and state also affects the development of a country's sharia economy. In Indonesia, the government has supported the implementation of the sharia economy through various regulations and policies such as the Sharia Banking Law. With the right support from the state, the Islamic economy is expected to develop faster and provide benefits to the community.

Overview Ekonomi Makro Islam

Islamic economics is an economic framework based on the principles of Islamic teachings, combining religious values with sustainable and just economic concepts. This journal explores the scope of Islamic economics by focusing on the core principles that form the basis of the economic system. Apart from that, there is also the impact of Islamic economics in building financial inclusion and fighting economic inequality. By upholding the values of justice and social responsibility, Islamic economics encourages financial inclusion by providing access to financial services to disadvantaged groups in society. This approach helps reduce disparities between different economic groups and creates broader opportunities for sustainability and equitable economic development. However, although Islamic economics offers a useful approach, this article also discusses the challenges faced by Islamic economic practices in dealing with the complexit of the global economy and achieving a balance between finance and religious values. This journal provides a comprehensive overview of the diversity and complexity within the scope of Islamic economics, exploring the implications and opportunities for further development in an ever-evolving global context. This study used descriptive qualitative method. The types of data used are secondary data and primary data

Maqasid Shariah Implementation on Sukuk Analysis

The main objective of this study is to conduct a bibliometric analysis and literature review on the implementation of Maqasid Sharia in the context of Sukuk from 2014 to 2023. Sukuk is a growing Islamic-based financial instrument that has a significant impact in the global financial market. Maqasid Sharia, or the purpose of sharia, has an important role in directing Islamic economic and financial practices. This study aims to explore how the concept of Maqasid Sharia has been applied in sukuk, as well as research trends relating to this topic during the period under study. Through bibliometric analysis and literature review, this paper will provide insight into the development of research related to Maqasid Sharia and sukuk during the period, as well as provide a better understanding of the contributions and challenges in implementing Sharia principles in sukuk financial instruments. This research is expected to contribute in broadening the understanding of the role of Maqasid Sharia in sukuk development and provide direction for further research in this area.

Islamic Economic Practices in Indonesia

As the country with the largest Muslim population in the world, Indonesia has great potential in the halal industry. However, research on symbols in Indonesia’s Islamic philosophy and economic history is still far behind that of other countries. Therefore, efforts are needed to improve its study. This research aims to describe and understand the importance of the symbol in the philosophy and history of Islamic economic practices in Indonesia. The findings of this qualitative research, conducted in Indonesia, have practical implications for the halal industry and Islamic economic practices. Data was collected by conducting observations, in-depth interviews, and documentation. Data analysis is carried out by reducing data, presenting data, and giving meaning to the data that has been collected, and from that meaning, conclusions are drawn. This research has concluded that the essence of the Islamic economic process in Indonesia is an effort to fulfill the needs of the Indonesian people based on Islamic values to achieve happiness in the world and the hereafter. The Islamic economic system has become a phenomenon that is the object of the study of Islamic economic philosophy in Indonesia today. The urgency of Islamic economic philosophy in the context of Indonesian Muslim society can be found at the level of implementation. Islamic economic practices have become a way of life for the people of Indonesia. The main principle of Islamic economics holds fast to the concept of tawhid. Many things can be learned from the Islamic economy in Indonesia, ranging from the rules of legal buying and selling, lending and borrowing with legal contracts, and investment in Islam to the prohibition of usury, avoiding things that are haram, injustice, and usury. The Islamic economic system has proven to be beneficial for all people, both Muslims and non-Muslims.

Analysis of the Implementation of the DSN-MUI Fatwa and Maqashid Sharia in Sharia Hotels: A Study at the Lor In Sharia Solo Hotel

Introduction: The development of Sharia hotel studies goes hand in hand with research on halal tourism. Sharia hotels are the latest trend in the halal industry. The concept and its implementation concerning the conformity of sharia principles has become a current research problem. This study will analyze the application of DSN-MUI fatwas and maqashid sharia at the Lor In Sharia Solo Hotel. Research Methods: The methodology used in this research is qualitative, using a field research approach. The object of this research is the management of the Lor In Sharia Solo Hotel with the DSN-MUI fatwa approach and Maqashid sharia. The purposive sampling technique determined the data source of this research. The informants in this study are managers, staff, employees, and visitors or consumers of the Lor In Sharia Solo Hotel. Research data has been collected through observation techniques, interviews, and documentation. Analysis of research data has used qualitative techniques, which include data reduction, data presentation, and concluding verification. Results: The empirical findings of this study have shown that the Lor In Sharia Solo Hotel in Solo is following the parameter indicators contained in the DSN-MUI fatwas and maqashid sharia. Conclusion: Based on the results and research findings in this article, it can be concluded that the form implementation of the two instruments in the Lor In Sharia Solo Hotel has a positive impact on the development of Islamic economic practices in Solo.

Islamic Economic and Financial Practices in Indonesia: From Local to a Potential Global Framework

Islamic Economic and Financial Practices in Indonesia: From Local to a Potential Global Framework

Pemberdayaan Usaha Ekonomi Kreatif untuk Meningkatkan Pendapatan Ekonomi Keluarga Dalam Perspektif Ekonomi Islam:

This study aims to determine the efforts to empower the creative economy and processes in small businesses of woven bamboo crafts and their compatibility with Islamic economic practices in Gobang Village, Rumpin District. The type of research used is field research (Field Research), while the nature of the research used is descriptive qualitative and in this study uses an inductive way of thinking, using primary and secondary data sources. The aim is to be able to describe empowerment efforts in an Islamic economic perspective. Data collection techniques used are interviews, observation and documentation. Interviews were conducted with small woven bamboo business owners and members, observations were made to directly observe business activities, and documentation was used as a complement to obtain data as information material in the form of data related to woven bamboo businesses.From the results of research on efforts to empower creative economy businesses in increasing family economic income in an Islamic economic perspective, Mr. Dayat has empowered the community who are members of the small woven bamboo business which is very good and in accordance with Islamic economic principles, seen from the income generated by members able to help fulfill daily life and grow to be bigger than before becoming a member of the small woven bamboo business
 Keywords: Empowerment, family economy

A Bibliometric Analysis of the Journal of King Abdulaziz University: Islamic Economics

With the growing interest and importance of Islamic economics in today's world, the Islamic Economics Journal of King Abdulaziz University, as the first academic journal in this discipline, plays a prominent-and still is playing- an important role in providing insight into current practice and shaping the development of Islamic economic literature. The first issue of the journal appeared four decades ago; in 1983 In 2009 the journal has been indexed by Scopus for the first. This study aims to identify significant trends in this journal and trace its evolution from its first indexation by Scopus in 2009 till August 31, 2022. A total of 331 articles were examined using relevant statistical packages like Rstudio, VOS viewer and Microsoft Excel. The results of this bibliometric analysis suggest that, on average, there is an increasing trend of publications and citation in the journal. Despite the predominance of Saudi Arabia, the home country of the journal, this upward trend is also driven by Muslim minority countries, and non-Muslim countries as well including the United Kingdom and the United States. This study also identified eight major research themes covered by the journal like philosophical discussion on ribā and resilience of Islamic finance industry during global financial crisis; and on the other hand, the study calls for future researchers to conduct more quantitative articles submitted to the journal to uncover empirical evidence of existing Islamic economic and financial practices, particularly the halal industry, which has emerged as an increasingly attractive sector. In addition, future researchers may also consider associating the principles of Islamic economics with various global agendas such as climate change and environmental issues in general.,. Finally, the study also suggests that the journal's editorial board should provide an English translation of Arabic articles in order to expand coverage and improve citation index.

The Development of Islamic Economic Politics in Sharia Banking in The Reform Era to Date in Indonesia

The article aims to determine the relationship between the Indonesian state and the Islamic economy related to the influence of the Indonesian government's Islamic political economy in the development of sharia economic practices in society, especially in the reform era. The research method used in this study is a qualitative approach with the type of library research. The data sources used are secondary data sources, obtained from the collection of documentation related to the development of Islamic economic politics in Islamic banking in the reform era in Indonesia. The data that has been collected is analyzed through content analysis and the validity of the data is checked through triangulation of secondary data sources. This article uses the political theory of Islamic economics in the reform era and the theory of the development of sharia banking regulations by Dr. Itang, M.Ag. This article finds that the influence of the State of Indonesia with its political economy oriented to the Islamic economic system in developing Islamic economic practices is very significant. This also shows that there is a rapid progress in the practice of Islamic economics, especially in the field of Islamic banking, which is increasingly attracting the whole community to invest in Islamic banking because the formal regulations are very clearly stated in the Act. In addition, the development of Islamic political economy has also greatly influenced the development of other non-banking Islamic financial institutions, such as sharia insurance, sharia capital markets, sharia bonds, sharia mutual funds, and Islamic microfinance institutions, and Islamic public finance after the Indonesian state supported them in many things, especially through formal regulation.

Peran Kebijakan Politik Dalam Perkembangan Keuangan Syariah Di Indonesia

Indonesia is a country with a majority Muslim population. The large number of Muslim population is a potential market share that is profitable for the development of Islamic economic practices in Indonesia. However, on the way there are various obstacles that stand in the way. Therefore, it needs support from various parties, namely the Government and the Community to overcome these obstacles. The purpose of this study is to examine the obstacles to the process of developing a sharia economy in Indonesia and the importance of political support from the government which is realized through various regulations and policies aimed at developing a sharia economy in Indonesia. In this study, the author uses a qualitative descriptive writing method and uses library research. The results of this study and the conclusion of this study are that Islamic economics and finance practices in Indonesia have shown positive developments. Even though in the realization and the process there are still many obstacles. Support from the Government through regulations is needed as well as being a pioneer for national community movements and political support from the community with awareness of using halal products and carrying out economic activities that use sharia principles so that it is hoped that the sharia economy in Indonesia will develop in the future.

Maqashid al-Shariah Implementation and Islamic Economics Industry in Indonesia

This research focuses on the application of Maqasid al-Syariah to the principles of Islamic economics in Indonesia. It explores the extent to which these concepts are applied in Islamic economic practices in Indonesia. This study used a qualitative research method, using interviews with academics as a data collection method. The findings show that in Islamic banking, hifdzul al-maal is prioritized, because Islamic banking is very closely related to assets, by saving at Islamic banks, our assets are protected from usury, by saving at Islamic banks, our assets are protected from illegitimate transactions. This research ends by recommending further research to discuss more deeply the extent to which Islamic banking is used by Indonesian people, especially Muslims in Indonesia and what factors cause them to remain in conventional commercial banks.

Perkembangan Keuangan Syariah dalam Realitas Politik di Indonesia

This article discusses the development of the implementation of Islamic economic and financial This article discusses the implementation of Islamic economic practices in Indonesia, the obstacles experienced, and also the solutions taken to develop this Sharia-based economy. This article will also discuss political support, which is described in the regulations and policies issued by the government for the development of Islamic economy and finance in Indonesia. This article was prepared using a qualitative descriptive method with a literature study approach. The results obtained indicate that in some cases, new regulations are issued by the government when problems arise. In some laws, it is also stated that the agency/interested party (mentioned in the law) was only formed several years after the law was issued. Regulation is considered as a guarantee, so it is a very important instrument as part of the solution to face obstacles from Islamic financial practices that exist in society, and plays an important role in the development of Islamic economic practices in Indonesia.

Launching Fuel Oil According to The Perspective of Positive Law and Sharia Economy (Study of Pelangsir in Palangka Raya City)

Fuel oil is currently the main need of the community in supporting various activities to drive the economy. Starting from providing electrical resources at home, motorized vehicles, and to trade as a source of income. To ease the burden on society and increase the wheels of the economy, the Government made a policy by providing subsidies for fuel. So that the price of fuel is not too high and affordable for the community. However, subsidized fuel is prone to misuse and even frequent irregularities, one of which is the practice of shifting. Shifting or known as ‘Melangsir” to the people of Palangkaraya city means buying subsidized fuel at gas stations and selling it at retail. This is qualitative research in which research data is obtained through observation, interviews, and documentation with suppliers or retailers, consumers. Furthermore, the data that has been collected is analyzed using descriptive analysis method. From the results of this study, it is explained that, according to the positive law regulated by Oil and Gas Law of Indonesian Law number 22 of 2001, Melangsir and buying and selling of retail fuel in Palangkaraya is a criminal act that is prohibited by the government, this is stated in Article 53. In Islamic Economic Practice shifting and buying and selling of retail fuel is permitted as long as it applies Islamic economic principles and aims for the benefit of all parties.