Islamic Economic System Research Articles

Sharia Islamic Economics in the Middle of Civilization Transition

The existence of an economic system of capitalism, an economic system of socialism, and an economic system of sharia are a response to problems regarding the economy as well as an answer to removing people from the obscurity of the existing economic system. It’s hoped that these systems will be the key to the economic success of a society. But there are always advantages and disadvantages to every existing system. The economic system of capitalism is an economic system hi which investors or owners of capital are the movers and rulers. Meanwhile, the economic system of socialism is a system hi which the government is the main control, this system ignores the position of the individual, everything is regulated by the ruler and no one has the right other than the ruler. The considerations positives and negatives of each system have created a sharia economic system where this system has every positive side of the capitalist and socialist economic system but ignores the shortcomings or negative sides of the two systems. This paper discussed how the economic system of capitalism, the economic system of socialism, the Islamic economic system, and the relationship between them. The method used in this writing was library research, in which the authors used various secondary data from books, article, and many more. The results showed that it is clear that there are far differences between the conventional economic system and the Islamic economic system, the conventional economic system includes the economic system of capitalism and the economic system of socialism.

Islamic Finance and Economic Development: The Impact of the Islamic Finance Sector on Indonesia’s Economic Development

The re-existence of Islamic economics on the surface of the earth makes a major contribution to the new economic system, with new models and innovations that are applied according to the conditions it goes through without reducing the values that must be implemented in the Islamic economic system. Although it can be understood that this Islamic economic system is not a new thing, but has experienced a new history in the modern era This research aimed to describe the models and applications of sharia-based financial models in the economy, Islamic finance models that are able to promote equitable development, and the impact of the Islamic finance sector on economic development. This was qualitative research with document analysis. The results were financial system in Islam has an impact on economic growth, especially in Indonesia, it can be felt the level of difference between conventional economics and Islamic economics. In addition to the investment factor made by investors, the contract model that is applied bears the risk for both parties, because with a contract like this the level of prudence that must be carried out is more selective compared to other contracts. In addition to Islamic banking, non-bank financial institutions also have a very significant role in increasing economic growth. Among non-bank financial institutions that have an influence on economic growth are zakat, baitul maal wattamwil, waqf and others.

The Philosophy and Authentication of Welfare Equalization in the Islamic Economy

The promise of the welfare of the capitalist economic system initiated three centuries ago is only realized for the owners of capital. Even in 2017 in The Great Devide, Joseph E. Stigliz reported increasingly alarming data that the wealth of 1% of the world's population is equivalent to 99% of the world's population. This article aims to describe: (1) The concept and philosophical value of welfare in Islam, and (2) historical authentic evidence of the creation of welfare in Islam. To obtain representative and comprehensive data, this article is compiled based on primary and secondary data. The Central Bureau of Statistics reports economic developments regarding the development of people's welfare in Indonesia and reports from world institutions such as the IMF, World Bank, as a comparison of global economic conditions. The data is then discussed under ideal conditions recorded in the golden history of Islam to find that prosperity in an Islamic economy is capable of being realized. The contribution of articles among scientific studies that discuss welfare is about concrete explanations or clear standards of welfare attainment. Namely, the nominal wealth to be called prosperous, an applicative and systematic method of achievement, and the affirmation that the Islamic economic system has proven to be effective in creating prosperity. Through the presentation of this article, it is hoped that efforts to create prosperity as well as equalize welfare will always be pursued through the application and contextualization of a proven and tested economic system.

Cash Waqf Linked Sukuk Alternative Development of Sustainable Islamic Economic Development Sustainable Development Goals (SDG's)

Economic development itself is defined as a continuous process that has the aim of increasing a country's Gross Domestic Product (GDP) and per capita income of a country's population in the long term which has an impact on various aspects, both economic, social, and science and technology. The purpose of economic development in Indonesia is not only to increase per capita income but also to accelerate economic growth. Technological advances as a result of this development will also improve the quality of human resources, improve community welfare, reduce inequality, and reduce unemployment. The government continues to face various forms of economic development problems in Indonesia, including high unemployment, rampant poverty, high population, inflation resulting in low purchasing power, low productivity resulting in low per capita income, and export commodities dominated by the primary sector. Today, the development of Islamic economics, both in academia and practice, is very important to pay attention to. This is also related to how to develop thoughts and applications of the Islamic economic system in Indonesia. Various perspectives in the field of Islamic economics associated with the Sustainable Development Goals (SDGs) themselves were created to answer the demands of world leadership in overcoming poverty, inequality and climate change in the form of real action. Establish a set of targets that can be applied universally and can be measured in balancing the three dimensions of sustainable development such as environmental, social and economic. Islamic economic objectives in several points of view are philosophical goals consisting of Al-Falah (holistic prosperity) and Maqasid al-Shariah and operational objectives consisting of increasing faith, creating maslahah, preventing concentration of wealth, and avoiding dangerous activities and even distribution. On the basis of this Islamic economic objective, the response was the issuance of a Cash Waqf Linked Sukuk as a product of the government through the Ministry of Finance to serve as an alternative to increasing Islamic-based economic development. The method used in this article is descriptive qualitative method with literature review. Through this article, we will try to discuss how this cash waqf linked sukuk can be used as an alternative for sustainable Islamic economic development. Sustainable Development Goals (SDG's).

PROFIT EQUALIZATION RESERVE AND DSN MUI NO: 127/DSN-MUI/VII/2019 IN MAQASHID SYARIAH PERSPECTIVE

This study aims to analyze the application of Profit Equalization Reserve (PER)and its relationship with the DSN MUI fatwa NO: 127 / DSN-MUI / VII / 2019 in the view of maqasid sharia.PER is used to maintain the competitiveness of yields in Islamic banking. The reserve fund can be used when the sharing of financing results goes down. That way, depositors' interest is maintained, because the reduced profit sharing can be covered with reserve funds. Based on existing sources, the authors argue that PER can be applied in the Islamic economic financial system as long as it does not violate existing regulations. However, the application of PER is not only applied to Islamic banking but also applies to the sukuk wakalah bil al istithmar.This is evidenced by the existence of the term PER which is allowed in DSN MUI NO: 127 / DSN-MUI / VII / 2019 concerning Sukuk wakalah bi al-Istithmar. The reason for the inclusion of PER in DSN MUI NO: 127 / DSN-MUI / VII / 2019 is because the result of the consideration of the meaning of Wakalah bi al-Istithmar is the wakalah contract to invest and develop Muwakkil's assets either in return (Wakalah bi al-Ujrah) or without compensation(Wakalah bi ghairi al-Ujrah).

RELEVANSI PRINSIP EKONOMI ISLAM DALAM PEMBINAAN UMAT ISLAM

Indonesia is one of the developed countries with abundant natural wealth, because these abundant natural resources make Indonesia a country that can be relied on. However, in reality there are still many people who belong to the poor, who live in poverty. This becomes a big question, why does this happen? What's wrong with the economic system? departing from this, this article takes a decision taken from an economic system that is still wrong, namely using a capitalist system, so that a deeper study is needed to study the Islamic economic system as a solution to create prosperity for society. This article also affirms that Islamic Economics is dynamic, and not compartmentalized, in the sense that Islamic Economics provides blessings for all levels of society. This is because Islamic Economics makes Al Quran and As Sunnah as the basis of its implementation, coupled with ijtihad and the increasing thinking of experts in the field of Islamic economics that Islamic Economics is the best solution as a way out of poverty and economic decline.

Islamic economic thoughts according to Ibn Khaldun, Al-Maqrizi, and Al-Syatibi

Purpose – This article explores Islamic economic thought according to Ibn Khaldun, Al-Maqrizi, and Al-Syatibi. One of Ibn Khaldun's thoughts that is very prominent and very important to discuss is economics.Method – The research used qualitative methods by analyzing the direction of thought and the construction of the Islamic economic system from Ibn Khaldun, Al-Maqrizi, and AL-Syatibi using the maqashid sharia concept.Result – The importance of discussing Ibn Khaldun's thoughts on economics is because his thoughts have great significance for developing Islamic economics in the future.Implication – The concept of maqashid sharia put forward by Asy-Syatibi should be a reference in every analysis process related to economic behavior. The system and science currently being formulated can be a solution to the increasingly acute economic complex.Originality – This study compares the Islamic economic thoughts of three prominent figures, i.e., Ibn Khaldun, Al-Maqrizi, and Al-Syatibi.

Implementasi Akad Pembiayaan Syariah pada GALA (Gadai Tradisional)

Islamic financial institutions instruments are required to synergize and provide new patterns and ideas in reconstructing previous ideas with the current context so that Islamic financial instruments can be applied by the current generation. This study uses qualitative research methods. The purpose of this study is to identify the implementation of the sharia funding agreement on gala. The research approach used in this study is a phenomenological approach. The type of data used is primary data. Data collection techniques use interviews and observation. The practice of traditional gala found in the lives of southwest Acehnese people was built from generation to generation from the 16th century to the present, approaching the pattern of contract existing in the Islamic economic system where one of them is a mudharabah contract. This contract is expected to be an alternative solution for islamic financial institutions in the future for productive financing which is based on the business practices of the Southwest Aceh community that are local wisdom.

Moral Values of Market economy in an Islamic System: قيم وأخلاقيات السوق الحر في النظام الإسلامي

Under the scientific revolution, the internal market has seen insufficient to expand production. Capital and markets have become truly international. The free market economy needs many stops, to know its effects and dimensions on the citizen and his social values. The aim of the research is to clarify the essence of the Islamic economic system and to activate the system of moral values that it urged in the economic and other fields. Proving the failure of the positivist systems in achieving sustainable development, fighting poverty and preserving the environment. The study used the descriptive approach to list the concepts related to the topic and the comparative approach to clarify the difference between the values and ethics of the free market in the Islamic system and the positive economic systems. The result of the study shows that in an Islamic system the moral values are contradicted selfishness, exploitation and extravagance, and make man the goal of life because he derives his existence and value from his succession of God on earth. Among these values are respect for human dignity, justice and respect for nature. The study recommended the adoption of the Islamic economic system, in order to bring about a successful sustainable development that integrates material and spiritual factors. With the presence of some successful experiences to be a lesson of experience.

The Role of Technology Acceptance Model Theory and the Relationship with Hifz Mal in the Phenomences of Using E-Money in the Milenial Era

This research aims to see the role of the Technology Acceptance Model theory that can influence the millennial generation in using e-money and its relationship with hifz mal. The basic variables are ease and usefulness, and also three other variables, namely security, trust and experience. The research model was empirically tested using a data collection method through questionnaires for millennial generation of e-money users, namely students of the Faculty of Economics and Business, Diponegoro University using multiple linear regression analysis techniques using the SPSS 22 application. The results showed that usefulness and trust variables have a positive and significant effect on the use of e-money. Meanwhile, convenience, security and experience do not play a role in influencing the millennial generation in using e-money. The connection with hifz mal is that the use of e-money provides convenience and benefits for its users while providing security guarantees, so that Muslim users of electronic money avoid things that are not in accordance with the Islamic economic system.

DETERMINANT OF ISLAMIC FINANCIAL INCLUSION IN DIGITAL ERA: CROSS-PROVINCE ANALYSIS

In recent years, the Islamic financial sector has become one of the most vital sectors in the Islamic economic system in Indonesia. Therefore, more attention needs to be paid to the measurement of Islamic financial inclusion and its and policy making, especially in facing the digitalization of economy, because the digitalization can be a momentum that provides opportunities as well as threats to Islamic finance. This study attempts to measure Islamic financial inclusion at the provincial level in Indonesia through the dimensions of accessibility, availability and utilization and analyzes the impact of digitalization on Islamic financial inclusion. Measurements are made using the Sarma Index, while the analysis of the impact of digitalization on Islamic financial inclusion employs the fixed effect model on the balanced panel data. The measurement results show that developed provinces tend to have higher levels of Islamic financial inclusion compared to developing provinces. Furthermore, provinces with a Muslim majority have a higher level of Islamic financial inclusion compared to provinces with a Muslim minority populations. In the panel data analysis, it was found that internet penetration has a negative and significant effect on Islamic financial inclusion, which shows that the majority of people in Indonesia still use the internet to access entertainment content and that internet use has not been optimized to access financial services. Nevertheless, the presence of the Islamic fintech platforms has a significant positive effect on Islamic financial inclusion in Indonesia. The variable level of cell phone usage has no significant effect on the level of Islamic financial inclusion and the average length of schooling has a significant negative effect on Islamic financial inclusion.

UTANG NEGARA, DIBAYAR OLEH WARGA NEGARA, DAN TINJAUANNYA MENURUT SYARI’AT AGAMA

Debt or in accounting terms is referred to as a liability at the conceptual and implementation level in the Islamic economic system is legal as long as it does not conflict with the principle of halalness and the principle of benefit. however, if the debt uses an interest instrument, the law is haram. Citizens are not obliged to pay off debts taken by the government, but those who are obliged to repay the debts in question are the officials or the government in power or if this is not possible, the next government is responsible for making payments when the mechanisms and processes for the facilities taken are in accordance with the procedures applies. However, if there is a distortion or fraud (deviation), the person obliged to return the debt payment obligation is an individual from the authorized official as the policy maker of the facility

Pengaruh Faktor Budaya dan Psikologis Terhadap Keputusan Nasabah Dalam Memilih Bank Syariah Mandiri KCP Tajur


 
 
 Islamic banks are financial institutions that have a wide market potential in Indonesia as one of the applications of the Islamic Islamic economic system in realizing Islamic values ​​and teachings that regulate the economic sector of the Ummah. The number of new financial institutions that have emerged as a Sharia Bank as a business entity is demanded to be able to compete with other financial institutions to survive and increase their profitability. One of the supporting factors for the development of Islamic banking is the public's interest in choosing financial institutions. This research was conducted with the aim of analyzing the influence of cultural and psychological factors partially and simultaneously on customer decisions in choosing Islamic banks at Bank Syariah Mandiri KCP Tajur. The data in this study are primary data obtained from distributing questionnaires to 100 customers of Bank Syariah Mandiri KCP Tajur. The analysis model used to test the hypothesis is simple linear regression with the t test method and the f test using the Statistical Package for the Social Sciences (SPSS) program. The results of the t test of this study indicate that cultural factors have no effect on customer decisions in choosing Bank Syariah Mandiri Tajur, while psychological factors affect customer decisions in choosing Bank Syariah Mandiri Tajur. The results of the F test of this study indicate that cultural and psychological factors have a significant effect on customer decisions in choosing Bank Syariah Mandiri Tajur.

Pengaruh Faktor Budaya dan Psikologis Terhadap Keputusan Nasabah Dalam Memilih Bank Syariah Mandiri KCP Tajur


 
 
 Islamic banks are financial institutions that have a wide market potential in Indonesia as one of the applications of the Islamic Islamic economic system in realizing Islamic values ​​and teachings that regulate the economic sector of the Ummah. The number of new financial institutions that have emerged as a Sharia Bank as a business entity is demanded to be able to compete with other financial institutions to survive and increase their profitability. One of the supporting factors for the development of Islamic banking is the public's interest in choosing financial institutions. This research was conducted with the aim of analyzing the influence of cultural and psychological factors partially and simultaneously on customer decisions in choosing Islamic banks at Bank Syariah Mandiri KCP Tajur. The data in this study are primary data obtained from distributing questionnaires to 100 customers of Bank Syariah Mandiri KCP Tajur. The analysis model used to test the hypothesis is simple linear regression with the t test method and the f test using the Statistical Package for the Social Sciences (SPSS) program. The results of the t test of this study indicate that cultural factors have no effect on customer decisions in choosing Bank Syariah Mandiri Tajur, while psychological factors affect customer decisions in choosing Bank Syariah Mandiri Tajur. The results of the F test of this study indicate that cultural and psychological factors have a significant effect on customer decisions in choosing Bank Syariah Mandiri Tajur.

PERKEMBANGAN FINANCIAL TECHNOLOGI (FINTECH) BERDASARKAN PERSPEKTIF EKONOMI ISLAM

This research is a library research. The method used in this research is Library Research or literature review, which collects data from literature and other sources that support and are related to the discussion of this study. The results of this study are: (1) There are 5 major roles of Start-up Financial Technology, namely, First financial transactions become more practical and safer. Second, it can advance the development of bitcoin. Third, it can improve people's lives. Fourth, it can build banking infrastructure as a solution to increase people's purchasing power. Fifth, can remove loan sharks. (2) The relevance of Financial Technology in today's development, it is very clear that its relationship in the daily life of the community, which provides convenience for the needs of the community in conducting financial transactions, such as payments, buying and selling of shares, borrowing and other transactions through technology. (3) Financial Technology is not contradictory to the Islamic economic system as long as it follows the legal principles of a contract, and meets the conditions and principles as well as the applicable law.

Economic freedom between unbounded capitalism and Socialist denial and Islam's position on it – descriptive theoretical study: الحرية الاقتصادية بين الإطلاق الرأسمالي والنفي الاشتراكي وموقف الإسلام منها: دراسة نظرية وصفية

This research aims to highlight the role of the Islamic system in economic freedom and its success over the capitalist system, and a socialist in freedom. And between the pros and cons and the way of freedom in the mentioned systems. He emphasized that economic freedom in the capitalist system is absolute, there is no limit in it, but a little, while denying public ownership only an exception to the original, And the state's non-interference in economic and financial activities. And with the denial of economic freedom in the socialist economic system and direct and absolute interference of the state in all economic and financial activities through the central planning system, With the recognition of private ownership, an exception to the original. The research emphasized that economic freedom in the Islamic economic system is neither absolute nor denied, Rather, a compromise between the two sects recognizes economic freedom, but within a limited scope, Because it is disciplined by the legal controls that are valid for all societies. And on the research methodology: I used it in the research as a theoretical and descriptive study that shows freedom in the prevailing economic doctrines with an explanation of Islam’s position on its restricted freedom and the importance of legitimate controls valid for humanity. The results were obtained and the most important ones are Economic freedom in the capitalist economic system is absolute without any control, and Economic freedom is denied in the socialist economic system, therefore Many criticisms of the capitalist and socialist economic system appeared throughout their history as a result of some wrong ideas on which the Philosophy of the two doctrines, however The right to analyze and prohibit is not anyone's right but God alone, but the Economic freedom in the Islamic system is defined by Shari’a controls and constrained by restrictions that refer to the interests of the human community in general, though Islam’s mediation in economic freedom is between capitalist launch and socialist exile. One of the most important recommendations in this research Taking care of teaching Islamic economics in colleges and institutes, Commitment to economic freedom disciplined by Sharia controls, in order to eliminate corruption and bring human interests, and Following to this rule: every action is permissible unless there is evidence that it is prohibited.

Existence and Introduction of Islamic Economics: Role and Relevance

The collection of rules, values and standards of conduct that organize economic life and establish relations of production in an Islamic society is Islamic economic system. These rules and standards are based on Islamic order recognized in Qurran. Islamic economics based on specific concept of universe and the creation of man is contradictory to the concept adopted and accepted by modern science. Islamic economics postulates although ability and expertise is required for progress and growth but distribution of resources completely dependent on it would be cruel, inhuman and bereft of kindness, and lead to oppression. Islamic economics does not favor making human ability and expertise the fulcrum of resource distribution. It should be kind, considerate and based on justice and fairness. This is because according to Islamic philosophy, ownership is considered to be a trust from Allah which has been bestowed on the rich so that they may utilize it correctly. In Islamic economics the role of the individual, has inclinations and his aims and objectives occupy a central position and are vitally important. He is definitely a rational being but his level of rationality is not confined to the calculations of cost and profit. An individual does not want merely to obtain monetary profit and physical pleasure and leisure but he also wants and aims for something beyond what the material world has to offer. The main aim of the study is to find out the relationship between Islam and economics. In Islamic economics the comprehensive moral training of the individual, his technical and educational ability, his aims and his priorities are of primary importance. According to Islamic economics the means of acquiring wealth has the same importance as wealth itself. Dishonesty, abuse of trust and earning of wealth through fraudulent ways and means may perhaps increase the status of an individual but the society suffers because of it on the whole. This leads to an unjust and oppressive economic system.

Analisis Manajemen Fundrising Umar bin Khattab dan Relevansinya dengan Pengelolaan Zakat di Indonesia

The period of Umar Bin Khattab's leadership was a golden age in the history of Islamic economics. The policies made are able to prove the greatness of the Islamic economic system. The success of Umar also made several zakat management organizations (OPZ) interested in implementing it in their operational activities, especially in gathering or fundraising activities. Using a qualitative literature study method, the writer intends to analyze (1) the functions of fundraising management, then combine them with (2) Umar bin khattab's zakat policy, so that (3) the suitability of Umar's policies in fundraising activities carried out by the management organization zakat (OPZ) to help improve the quality of OPZ performance in collecting zakat. The author obtains primary data sources through several main sources, because he cannot make direct observations and interviews. For secondary data sourced from journals, theses, scientific papers and articles obtained via the internet. The results show that the form of zakat policy made by Umar bin Khattab is not directly suitable for implementation in the current OPZ fundraising strategy. It is necessary to study, analyze and adjust in advance to the conditions and conditions of muzakki and mustahik so that fundraising activities can run effectively and efficiently and in accordance with Islamic sharia rules.

Fish in the desert: Identifying fish trade routes and the role of Red Sea parrotfish (Scaridae) during the Byzantine and Early Islamic periods

Recent archaeological excavations in the Negev desert of the southern Levant have yielded a surprising and unprecedented amount of fish remains, found in the landfills at Byzantine (4th–7th century CE) and Early Islamic (7th–9th century CE) sites. The significant economic and dietary role of Red Sea fish, especially parrotfish (Scaridae), in addition to fish originating from freshwater habitats, including the Nile, as well as from the Mediterranean Sea, attest to the importance of fish in sophisticated trade networks, which facilitated the transport of fish from different aquatic habitats to the distant provinces. The discovery of Red Sea parrotfish at all three studied sites is of particular interest. Analysis of the Scaridae remains revealed their role as a flagship species of the Red Sea coral-reef fishery and as an essential commodity in the Byzantine and Early Islamic economic systems; as well as the presence of more than one Scaridae species. The study of skeletal element representation indicated that complete fish, larger than 23 cm in length (SL), were transported to the sites. The bone fragmentation patterns reflected typical traditional butchering during the desiccation processes. The fish remains recovered from the desert provide new insights into the infrastructure of commercial networks that enabled the transport of fish over long distances during periods of high demand for fish products.

ETIKA BISNIS ISLAM PADA PERILAKU PEMASARAN DAN KEPUASAN KONSUMEN

Marketing ethics are an integral part of the Islamic economic system which deals with values that can influence consumer behavior. This study aims to discuss the relationship between ethical concepts of marketing behavior and consumer satisfaction from an Islamic economic perspective. To reconstruct the substantive relationship between ethical concepts of marketing behavior and consumer satisfaction, the literature review analysis method is used in examining secondary sources such as the Qur'anic Tafsir, hadith, journal articles, books, and several other relevant sources. The study results found that ethical marketing behavior in Islam is believed to be conceptually related to customer satisfaction so that it can affect business development. Ethics of marketing behavior and consumer satisfaction must be considered so that the company can face competition, maintains the existence and continuity of its business so that it can provide added value and the highest satisfaction for the company, consumers, and all elements of stakeholders.