Islamic Economic System Research Articles

Kapitalisme Dalam Perspektif Ekonomi Politik dan Ekonomi Islam

A discussion of the modern economic system, usually refers to two major systems, namely capitalism based on the capital markets (capital) and guided socialism which tried to solve problems of production, consumption and distribution through the chain of command. In addition to these two major systems, also known as the Islamic economic system, which refers to the economic practice of the Prophet Muhammad, peace be upon him. Islamic economic system is an alternative to the fundamental problems of the two major systems that already exist. However, when referring to the conditions of the birth of Islam in the midst of Arab society steeped in culture trade, alleged the influence of the capitalist culture of the economic system of Islam, so Islam is perceived closer to capitalism than socialism. Through the study of literary conclusion that Islam and capitalists are the two things affect each other. Sociologically, Islam is present in a capitalist society that both have an attachment. Capitalism, especially trade capitalism existed before Islam came. Before the birth of Islam, Mecca has become the center of international trade and finance. The Prophet Muhammad himself was a merchant before it became a prophet. Thus, capitalism is an ideology or a system that comes from the outside and into the schools of economic thought incoming and economic influence of Islam, although Islam also influence and correct the economic life or Capitalism applicable. Therefore Islam and capitalism are two forces that interact and influence.
 Keywords: Capitalism, Political Economy, Islamic Economics.

Efisiensi Alokasi Dan Distribusi Pendapatan Pedagang Kecil Di Pasar Minggu SAI Desa Lolawang Ngoro Mojokerto

Islamic economics is a science that studies human efforts to allocate and manage resources in order to achieve falah or welfare based on the principles and values ​​contained in the Qur'an and as-Sunnah. Talking about Islamic economics, then in it there is a distribution of income in the Islamic economic system that can protect its servants. So that in Islamic economics there are private property rights in which there are other people's property rights, because basically the nature of property belongs to Allah SWT. Related to the efficiency of the allocation and distribution of income in economics, the researcher will examine the efficiency of the allocation and distribution of income of small traders in the Sunday Market (Pasar Sai) Lolawang Village, Mojokerto Regency. Small traders allocate their income in the Islamic concept through zakat, alms because it is actually small traders who apply their income in a useful way.

ISLAMIC BUSINESS IN INDONESIA, MALAYSIA, AND UNITED KINGDOM (UK)

When discussing the Islamic economic system, the direction cannot be separated from the sectors within it, specifically the Islamic finance region and the non-Islamic finance region. In this dialogue, we can speak about the prevailing Islamic commercial enterprise fashion in numerous nations. The cause of this look is to accumulate a few facts associated with sharia commercial enterprise in numerous nations that are predicted to assist folks who are traveling or who’re seeking out centers that can be according to sharia standards. The approach utilized in writing the item is a qualitative statistics series approach taken from a set of articles associated with sharia commercial enterprise in numerous nations. The results of this survey provide facts related to Shariah trading companies in countries such as Indonesia, Malaysia, and the United Kingdom. In summary, Islamic industrial enterprises exist in the majority of Islamic countries (Indonesia and Malaysia) in addition to the minority Islamic countries (including the United Kingdom). Islamic commercial enterprise became created on the idea of a country’s want to facilitate its citizen (For improving the Muslims of their own country) or for the diversity of Muslim travelers traveling the country.

Penerapan Sistem Ekonomi Nabi Muhammad Saw Sebagai Role Model Generasi Millenial Dalam Mengembangkan Ekonomi Syariah Berbasis Teknologi

This arikel intended to make the basis of economic thought developed by the prophet (peace and prosperity) as an role model for millennials in developing a technology-based sharia economy. The purpose and implications of the islamic economic thinking of the prophet (peace and justice) was to realize a society that is madani and just. Moreover, the prophet muhammad, known as the paragon of life for all humans in the run of all aspects of life, has reconstituted the economic system that can bring wealth to all mankind. The islamic economic system is the best economic system for people's benefit because it isan economy that can reach all levels of society. Therefore, a system that supports a highly functioning, effective, efficient, and transparent economy in distributing and socializing the technology-based islamic economy. The most precise aim and most technological users are the millennials and the z generations in which it will grip the systems that go hand in hand with technological progress.

Islamic Legislation on Wealth Acquisition: A Critical Examination of Crypto-Currency

Islamic legislation on wealth acquisition is an integral part of the Islamic economic system. Crypto-currency is a new technological development in the global financial system. This development has become a contentious issue among Islamic economists, financial experts, jurists, scholars, and institutions. Many unsuspecting Muslims are also cynical about its appropriateness or otherwise in their economic and financial activities. This paper adopted a qualitative methodology, which relied on article journals, textbooks, internet sources, and fatāwā (verdicts) of Islamic scholars and Islamic bodies. The paper also derived logical deduction and conclusion from the Qur’ān and Ahādith (sayings of Prophet Muhammad [PBUH]). The paper found that, generally, crypto-currencies are used to acquire wealth. It revealed that, some seemingly Sharī’ah compliant crypto-currencies are used to acquire wealth. Although, most crypto-currencies do not conform to the Islamic concept of wealth acquisition, the paper concluded that Sharī’ah compliant crypto-currencies should and could be better developed to accommodate Muslims and Muslim investors in their bid to acquire wealth.

STUDI TERHADAP PENGELOLAAN HARTA NEGARA MENURUT PERSPEKTIF EKONOMI ISLAM DAN PENERAPANNYA DI NDONESIA

This study aims to analyze and evaluate the management of public ownership (milkiyah 'ammah) and state ownership (milkiyah daulah) in Indonesia. This study describes in a qualitative descriptive way the current management of public ownership and state ownership in Indonesia. The theoretical approach is used for the Islamic economic system approach which assesses the practical implementation of the management of shared wealth and the wealth of the Indonesian State. The data used in this study are secondary data obtained from literature, journals and information related to Indonesia's wealth. The data collection technique used is library research. And this study uses a comparative analysis of the implementation of public ownership management and state ownership management that is not in accordance with ownership management in Islam. Evidence shows that public ownership and state ownership are not fully managed by the State of Indonesia, it appears that shared ownership in the form of water, fire and pasture is managed by individuals and institutions of foreign parties who have the capital to privatize public ownership. This will have an impact on the unequal distribution of income earned by people who have capital and those who do not have capital, so that it will have an impact on prosperity that most Indonesian people cannot have. As an evaluation and solution, it is necessary to implement an Islamic economic system in managing joint ownership and control of the Indonesian state.

Relevance Of Islamic Banking In Indonesia To The Muamalah System Of The Prophet And The Caliph

The emergence of Islamic banks in Indonesia today is increasingly mushrooming. This is inseparable from the role of the number of Muslim populations in Indonesia who want an Islamic economic and banking system that is far from usury. The Islamic banking system has been exemplified by the Prophet Muhammad and his companions in the past and this has become the basis or foundation for the establishment of Islamic banks. But in reality in Indonesia, the relevance of the Islamic banking system is less attractive. This research is a descriptive qualitative research, using library research method. The purpose of this study is to examine the practice of Islamic banking as exemplified at the time of the Prophet Muhammad SAW and to see the relevance and development of Islamic banking practices in Indonesia. The conclusion of this study is that the model of banking services, products and activities exemplified by the Prophet is still used in the Islamic banking system in Indonesia, but in fact there are many Islamic bank practices that deviate and are not in accordance with Sharia rules.

دور حاضر میں کارپوریٹ کلچر اور اسلامی تعلیمات کا جائزہ

The economic system of Islām is free from all evils. The means of livelihood and necessities of life were very simple and easy in simple times. Islām is a religion that urges its followers to earn ḥalāl sustenance. Islām makes luxurious life deadly for human beings. There is absolutely no room for corporate culture in the Islamic economic system. These two systems are very different. There is no similarity between them. If interest is included, then there is no difference between capitalism and Islām. However, Islām and corporate culture are as far apart as Islām and the Islamic economic system in communism is free from all the vices that are an integral part of the corporate culture. The economic system of Islām is transparent and free from all arrogance while the corporate culture is opposite that.

Debt Financing Vs. Equity Financing in the Context of Maqasid Al-Shari'ah in Islamic Finance

Islamic finance is a major part of global financial system that is expanding profligate. A deeper understanding by regulators, policymakers, academics, and practitioners has been aided in growing significance of Islamic finance, especially in emerging countries in the Middle East, Asia and even Europe. This study provides a concise examination of Islamic finance's, origins, guiding principles, and practices. Islamic finance is seen as being a component of an Islamic economic system that has a social focus at its core, Its Maqasid-i-Shari'ah. Which should emerge in economy as promoting development and justice in the system's overarching objective. This signifies that in addition to surpassing legal criteria, an Islamic financial system needs to address a society's social demands of fairness and equality. There is a widespread Maqasid-i-Shari'ah, need to be present in outcomes of Islamic financial system. However, there isn't any particular study that looks at how Maqasid-i-Shari'ah may be used for financial goods.

IMPLEMENTASI SISTEM EKONOMI ISLAM TERHADAP PENGEMBANGAN DANA DESA MELALUI BUMDES

Abstract The Islamic economic system in the lower classes of society must of course start from the village, because in the village there is financial potential for village funds to be developed through village-owned enterprises. there is an incentive to provide access to capital funds to the public. This fund can be developed through the empowerment of Home Industries and the empowerment of small community shops. Of course, the provision of capital on a large scale is not necessarily given directly to the people who apply for capital. There is a separate mechanism determined by the village government. For example, there is a micro-enterprise survey stage and a guarantee that must be submitted as a preventive measure if the community defaults.

Islamic Economics Answers to a Wide Range of Contemporary Socio-Economic Challenges

A long period of development spanning more than a century has resulted in traditional economics becoming a highly developed and complex field of study. Finding solutions to existing socio-economic problems is the focus of this paper. The idea of Islamic economics is the central topic of this article. Because it is based on the teachings of the Qur'an and Hadith, the Islamic economic system has proven to be very successful in overcoming various socio-economic problems during the course of human history. In other words, if Islamic economics is used in the right way and in the right way, then one may anticipate many severe socioeconomic difficulties. In short, Islamic economics offers a solution to the problem of how to improve human life. so that no socio-economic problems will be recognized if Islamic economics is practiced in a proper manner. Therefore, Islamic economics focuses primarily on ideas and efforts to improve the general welfare of society. Consequently, Islamic economics is a solution to problems facing society as a whole.

Contextualization and Synergy of the Concept of Justice in Islamic Economic Development

The complexity of socio-economic problems has become a serious global problem. Moreover, Islamic economic development requires attention and seriousness in order to balance all needs and minimize all complexities. With a balance that leads to the concept of justice in an Islamic perspective, implementation becomes a necessity. The concept of justice will provide a clear path for the implementation of the Islamic economic system. By using descriptive analysis writing method and with primary and secondary reference sources. This research is included in the category of library research or research activities related to literature. As the embodiment of Islamic economic values, contextualization and synergy of the concept of justice must be pursued as much as possible. Seeing the current discourse in the economic realm, justice has entered global policy. So that Islamic economic development that has contributed to economic development can be implemented comprehensively.

Pengaruh Penyaluran Zakat Produktif Pada Program Bandung Makmur Terhadap Kesejahteraan Mustahik di Baznas Kota Bandung

Welfare is defined as a system of life and social life both material and spiritual which is filled with a sense of safety, decency, and inner and outer peace, Zakat is one of the most effective Islamic economic systems to improve welfare if managed properly To analyze the effect of productive zakat funds on the level of the welfare of mustahik in BAZNAS Bandung City, the aim is to determine the effect of productive zakat distribution in the prosperous bandung program on the welfare of mustahik in BAZNAS Bandung City. The research method used is a quantitative method. The type of data that will be used in this research is field research. The research begins by collecting quantitative data in the form of numbers and then systematically arranged and processed by the SPSS Statistics program. simple linear regression is used. Based on the results of research and data analysis that has been carried out, it can be seen that in this study explains that there is a positive and significant influence between the variables of productive zakat distribution in the prosperous bandung program on the welfare of mustahik in the Bandung City Baznas. It is known from the responses of respondents who stated that they agreed that information related to the amount of productive zakat assistance received could meet business needs) shows that the results of productive Zakat affect the welfare of mustahik.

Analysis of the Distribution of Zakat, Infaq and Alms at the Baznas Tangerang City During the Covid-19 Pandemic

Zakat is one of the characteristics of the Islamic economic system. It is one of the most effective instruments to improve the welfare of the ummah and alleviate poverty. This study aims to determine the distribution mechanism of zakat, infaq and alms in Baznas Tangerang City and to determine the role of zakat, infaq and alms distribution for the worthies during the covid 19 pandemic. This study uses a qualitative approach using primary and secondary data. The results showed that the zakat distribution mechanism that is carried out by BAZNAS Tangerang City used two supporting activities, namely: productive assistance and consumptive assistance. In order to get the assistance, the worthies can come directly to BAZNAS Tangerang city either through individuals, institutions, or organizations. The distribution of zakat is carried out by BAZNAS Tangerang City through zakat, infaq, and alms funds by carrying out several activities which have a role in helping the worthies who are affected by the COVID-19 pandemic. It is also a solution for the worthies who are in difficult situations and zakat is used as a source of assistance in dealing with the impact of covid 19.

PERBANDINGAN PEMIKIRAN SISTEM EKONOMI ISLAM ANTARA ABU A’LA AL-MAUDUDI DAN TAQIYUDDIN AN-NABHANI

This research is an alternative explanation of research on a substantial Islamic economic system based on idealism and philosophy. The author would like to present two figures who according to the author are representative in all of that. The reason is that these two figures not only have a complete, ideal, philosophical, and original concept of Islamic economic system thinking, but also these two figures are among the first to write a book related to the Islamic economic system in modern history. The two figures are Abu A'la Al-Maududi and Taqiyuddin An-Nabhani. This research is a qualitative research and the research method used is the study of literature. The research data are books by the two figures related to the Islamic economic system. The results of the study show that their thoughts on Islamic economics are not pragmatic and ideal, substantial, and philosophical and there are two basic differences in their thoughts on the Islamic economic system and three differences that can be tolerated and the similarities between the two are quite a lot of differences and similarities between the two reflect that The thought of the Islamic economic system is both different from the capitalist economic system. This research is expected to be able to provide benefits for various parties in increasing public understanding of the Islamic economic system as well as being a consideration for policy makers' decisions.

Editorial Notes: Perspectives on the Islamic Economic and Financial System in the Contemporary World

The majority of submissions for this issue focused on the challenges faced by IBFIs as a result of the global spread of Covid-19. They discuss the trends in Islamic economics research, the importance of Islamic economics and finance to the modern economy, the performance of institutions and their employees, financial stability, waqf institutions, and the role of Islamic economics and finance in society. Only 12 of the dozen papers submitted for consideration were eventually chosen for publication. As usual, each manuscript will have to pass an initial review from our editor(s) before forwarding it to suitable reviewers. Some manuscripts would have to go through several rounds before being accepted. The reviewers' feedback was taken into consideration to provide the final decisions. Following that, the manuscripts would have to pass the editing stages, including proofreading and layout, where our editor(s) will intensely communicate with the authors if needed. It is to ensure that each published manuscript has undergone a quality check.

The Common Forms of Brokerage and Middleman, and their Shariah Solutions

In order to promote such thinking and thinking regarding the forms of brokerage/middleman that are prevalent in our society, this article is being presented that this sector should be continued in accordance with the teachings of Islam so that our Islamic economic system is grown up in the best possible way. In the current economic system, many new methods of brokerage are emerging which are very important to be aware of and it has become a great challenge for the scholars of today to inculcate the Islamic spirit in these methods by incorporating them into the Islamic structure. In the Islamic economic system where rules and regulations have been laid down for those who work, those who work for them are also prevented from violating the rights of those who work ethically and religiously because at the present time. The role of the middleman is a key factor in the introduction of new ways of doing business. Therefore, it is very important to examine its limits from the Islamic point of view. The cases which were prevalent in the early centuries, the justification of which was agreed by the companions, are due to the fact that the purpose of this writing is to consider the validity and apply the present case to them and find a shariah solution. Giving as much information as possible is the essence of this research.

Economic System During the First Formal Islamic State of Madina (622-645 AD): An Historical Insights

The economic system of any state is quite inevitable and an integrated part of life because all other systems revolve around this system. So, Islam paid special heed to this system and the Prophet (PBUH) gave a comprehensive guideline in this regard. There is no possibility of human error in the Islamic System because it is divine while all other prevailing and proposed economic systems are man-made. The Islamic economic system is directed towards the welfare of humanity by Almighty Allah. The Holy Quran categorically states that "Allah has made business legitimate for you (Sura Baqara, Ayat-275)". Islam as a religion primarily allows the economy to run efficiently as per the market forces subject to legal bindings and guidelines on production. distribution, marketing, trade investment, exchange and wages etc. The present study is theoretical in nature using the historical method as the basis for both the primary and secondary sources of data, especially qualitative data. This research examines the formation of the world's first formal Islamic State and the economic system established by the Prophet Mohammad (PBUH). And how the Islamic State created its economic resources of income have also been discussed in this paper. This study is a theoretical piece of research using the historical method and is based on both the primary and secondary sources Including holy Quran and Hadees. Even though there has been a lot of work done on the subject, this study will contribute to the publication of Islamic economic theory by adding knowledge from contemporary economics to a new debate. The ultimate objective of the Islamic economic system, like any other economic system was the realization of efficiency and equity in the allocation and distribution of resources and freedom of individuals in the society.

Strategi Ekonomi Syariah dalam Mewujudkan Kemakmuran Umat di Indonesia pada Era Modern

This study aims to examine the strategy of the Islamic economic system in realizing the prosperity of the people in the modern era. This type of research uses a qualitative type with library research. While the research approach used is descriptive analysis. The data analysis used is using qualitative data analysis. The results show that the Islamic economic system in Indonesia has not shown good and significant results in realizing the prosperity of the people. So that it requires steps and strategies in developing sharia economics, namely first, strengthening in increasing public awareness regarding sharia economic literacy, increasing and empowering Human Resources both in quality and quantity, strengthening research and development (R&D) capacity. Second, Strengthening Fatwas, Regulations (Laws) and governance. Third, strengthening and expanding the halal network until the formation of halal in every region throughout Indonesia from upstream to downstream and the halal value chain. Fourth, strengthening the Islamic financial sector Strengthening the Islamic finance sector. Fifth, strengthening micro, medium and macroeconomic enterprises. Sixth, strengthening and developing a digital-based economy.

INFLATION IN THE UNITED KINGDOM IN TIMES OF WAR AND PANDEMIC (A SOLUTION FROM THE ISLAMIC ECONOMICS)

History discloses that economic turbulence is not merely caused by economic failures such as policies, institutions, or market conditions, there are also a few phenomenon that contributes to a robust impact on the economic decline namely war and pandemics. The purpose of this paper is to reveal the economic downturn such as inflation in the United Kingdom caused by the covid-19 pandemic and worsened by the war between Russia and Ukraine. This paper also proved that the Islamic economic system is a solution to attaining a prosperous economy for society. Using qualitative research through descriptive analysis, this paper analyzed how the Islamic economic system possesses a vital role in facing economic crises in times of war and pandemics. The result of this paper found that Islamic economics is the only economic system that brings justice to all economic actors in the entire world, thus it leads to forming healthy economic circumstances and then avoiding the economic crisis to occur.Â