Islamic Economics Research Articles

Regulations of investing money and its priorities from the perspective of Islamic economy

Regulations of investing money and its priorities from the perspective of Islamic economy

KONSEP KEADILAN DALAM PERSPEKTIF EKONOMI ISLAM

Justice is a condition in which ideal moral truth is achieved, both in the context of objects and individuals. Justice becomes a very crucial principle especially in an effort to overcome the economic and social injustices that often arise in the conventional economic system. Islamic economics as a distinct field of study, emerged as a response to the perceived shortcomings of the conventional economic system. The purpose of this study is to analyze the concept of justice in the perspective of Islamic economics. This research uses the literature study method to examine the concept of justice in the perspective of Islamic economics. This method involves collecting and analyzing data from various relevant literature sources such as books, journal articles, and other publications that discuss justice and Islamic economics. The concept of justice in Islamic economics creates balance and equality in various economic transactions. The concept of justice in the perspective of Islamic economics is a crucial element that must be upheld to build trust and harmony in every economic activity, as well as to ensure that every individual can contribute to collective welfare without pursuing personal interests alone

Digital Governance and Its Role in the Islamic Economy- Analytical Study

This study investigates the role of digital governance within the Islamic economy, aiming to explore how modern technological advancements can be integrated into Islamic financial institutions while adhering to Sharia law. The research employs an analytical and comparative approach to examine the intersection of digital governance and Islamic economics, focusing on its implications for economic management and institutional transparency. The results indicate that digital governance offers a framework of systems and mechanisms that enhance the efficiency, accountability, and transparency of Islamic institutions. These governance practices, while rooted in the principles of Islamic economics, are essential for the modern adaptation of these institutions, particularly in the global economy. The study concludes that adopting digital governance within Islamic finance can significantly improve the management and operational integrity of these institutions, ensuring their alignment with both religious and modern economic principles.

Use of Akulaku Paylater in Islamic Economics (Study on Students of Sharia Economics Study Program, Faculty of Islamic Economics and Business, Sulthan Thaha Saifuddin State Islamic University, Jambi)

This research aims to explore how people in the Islamic economy feel about the Akulaku app's PayLater feature. And to get a breakdown of how Akulaku PayLater is being utilised. The methodology of this study is qualitative. This research uses observation, interviews, and documentation to gather information. While data visualisation and reduction are used for analysis. According to the findings of this research, Akulaku users can benefit from the convenience of Akulaku PayLater's on-time payment options by taking advantage of the company's bailout funds. Akulaku PayLater continues to impose unnecessary costs on its customers by charging interest on past due balances and other fees with every purchase. The Qardh and Prohibition of Transactions in the Islamic economy state that akulaku PayLater is not permitted because it contains elements that are detrimental to the user, so the app's use is prohibited if it is banned in the Islamic economy.

Historical Studies: The Social Life Of Muslim Minorities In The United States

This article describes the history of Islamic civilization in the Muslim minority country of America. The United States is secular but provides opportunities for every religion to grow and develop. The development of Islam in America cannot be separated from the scholars there. The method used in this paper is the Library research method (literature study). The results of this study noted that Islam is very developed in America compared to other religions when many Americans embrace Islam. Several Islamic financial and banking institutions were established in America Finance House Riba in California, which offers home financing based on Sharia principles. In addition, the emergence of Islamic economics and finance in this country was not as smooth as in other countries. Muslim minorities have established large organizations to help each other, such as ISNA, CAIR, and Islamic Relief USA.

Comparative Study of Consumption Theories: The Perspective of John Maynard Keynes and Monzer Kahf

This study aims to compare the consumption theories of John Maynard Keynes, a conventional economist, and Monzer Kahf, an Islamic economist. The main objective is to identify the strengths and weaknesses of each approach while emphasizing how both theories contribute to economic growth and stability. This study uses a qualitative methodology, thoroughly analyzing primary and secondary sources on the works of both economists. Through comparative analysis, this study evaluates the core concepts and assumptions of each theory. The findings show that Keynes' approach is concerned with individual consumption and its impact on savings and economic growth, while Kahf's theory encourages consumption for the collective good in accordance with Islamic principles. The study concludes that combining elements of both theories can offer a more balanced approach, which at the same time enhances social welfare and economic stability.

The Understanding of Electrical and Computer Engineering Students to Translate Sharia Economic Texts Via Google Translate

The potential of Islamic economics to develop in Aceh where Islamic culture and values ​​are very large and strong. Therefore, even though electrical and computer engineering students do not specifically study Islamic economics courses but live in Aceh, it is important to know the insight into Islamic economic texts. Google translate is very helpful in translating texts with nuances of sharia economics in Aceh to electrical and computer engineering students. This research was a descriptive-qualitative. The data used as a test comes from the abstract of an article by Ode and Hamizar (2024) entitled "Quantitative Analysis of the Relationship between Income and Welfare of Tuna Fishermen from the Perspective of Sharia Finance" which title is themed on sharia finance which is needed to determine the abilities of electrical and computer engineering students so that they can have insight related to the sharia economic system where this system is implemented in Aceh where they live. It can be concluded that electrical and computer engineering students can understand the interlingual translation of abstracts related to Islamic economics in English into Indonesian via Google Translate.

Economic Development And Growth In Indonesia According To Law Sharia Economy

Banking has an important role in the development and support of the country's economy, especially after the enactment of Law Number 10 of 1998 concerning Banking. Islamic economics in Indonesia has now begun to be recognized and approved by the public, given the proliferation of Islamic-based banks making people understand the systems in Islamic economics. The establishment of the Islamic Development Bank (IDB) in 1975 triggered the establishment of Islamic banks around the world including Indonesia. The birth of Law Number 21 of 2008 concerning Islamic Banking is a guarantee for the existence and legal protection of Islamic banking after the last decade of its existence which only regulates one of the principles of profit sharing which does not definitively and comprehensively regulate bank activities based on sharia principles. The method used in this research uses qualitative research methods using interview, observation and documentation techniques. This type of research uses descriptive analysis. The development of Islamic economic law in the future must increasingly refer to the protection of the benefit of the people by using maqashid sharia as a methodology and perspective. To establish economic law that falls within the scope of muamalah fiqh, a comprehensive mastery of ushul fiqh is absolutely necessary, especially to find and determine the legal illat for ongoing economic practices. Failure to determine the illat leads to failure to master the source of the problem. The current Islamic economics only talks a lot about distribution and consumption, such as the distribution of money and capital claimed to be without usury and halal product certification, and does not appear to talk much about production and all aspects related to it, such as ownership of land, resources, capital and by the private sector and conglomerates, including the fulfillment of labor rights, destruction of nature by production activities, and so on. The determination of the illat and maqashid of sharia in the economic field is also expected to pay more attention to the material conditions in which unequal production relations between community groups have resulted in economic colonization and which are very detrimental to society, especially those who are in a weak position in terms of capital, resources and power.

Green Economy and Islamic Economy: Towards Accelerating SDGs

The conventional economic system has led to rapid global development, but there is a need to explore alternative approaches. This paper addresses the limited research on the integration of green and Islamic economics, focusing on their contribution to Sustainable Development Goals (SDGs) and intergenerational prosperity. Employing a qualitative research method, the study reveals that green and Islamic economies complement each other due to their shared objective of societal welfare across generations. Both perspectives view SDGs as initiatives that promote equality and sustainable use of natural resources. Achieving these goals requires substantial funding, which is where Islamic financial instruments come into play, providing essential support for financing SDG-related activities. This research highlights the synergy between these two economic models and their potential to drive long-term, equitable development.

The Role of Traditional Markets in Improving Community Economy According To Perspective Islamic Economics

The Role of Traditional Markets in Improving Community Economy According To Perspective Islamic Economics

Prioritizing Islamic Financial Literacy for MSMEs in Indonesia

Islamic financial literacy in Indonesia is still quite low, when compared to financial literacy in general. This study aims to determine the priority of Islamic financial literacy in MSMEs in Indonesia. The method used in this research is Delphi, with research data coming from interviews with academics, practitioners and regulators of finance and Islamic economics in general, totaling 11 respondents. The results of the analysis found that there are 14 variables of Islamic financial literacy problems of MSMEs in Indonesia, and all variables have been agreed upon by economic experts. From the results of the calculation using the Delphi method, there are 3 main priorities for Islamic financial literacy of MSMEs in Indonesia, namely increasing the involvement of MSMEs as agents of Shariah financial literacy, expanding MSME access to the Islamic Financial Institutions (IFIs) sector, and encouraging IFI to develop simple and affordable products.

Pengaruh Program Indonesia Pintar Terhadap Peningkatan Kesejateraan Masyarakat Dalam Perspektif Ekonomi Islam Di Nagari Tanjung Bonai Kabupaten Tanah Datar

Smarst Indonesia programs that is put forward has an influence on improving community welfare. However, in practice, this program only favors children from well-off families, causing the child's system to collapse, resulting in a decline in the family's economy. PIP has on improving community welfare in Nagari Tanjung Bonai. The researcsh methode uses a quantitative approach. Parents of children who received PIP in Nagari Tanjung Bonai. Data about PIP recipients was collected through questionnaires. Thea data analysis used is a statistical tool to measurse the influence off the Smarst Indonesia Programs in improeving welfare. The conclusion off this research is that the Smarst Indonesia Programs has a significanst effeckt on increasing community welfare, the Smart Indonesia PIP Program is a factor that distributes Welfare in thees education sectors. This statement is reinforced by the resuls of a simple lineare regressiont test, namely. Thes variable for increasing community welfare is 15,786. The PIP regression coefficient is 0.694, which means that for every 1% addetion the PIP value will increase by 0.694. The regressiont coefficienst has a positife formulation, therefore it is stated that the directions of influensce off variable X on Y is in the same direction. Average correlation or alias relationship, because the value is. Then, it influences the coefficient value, based on the table in the first paragraph in chapter 4.2.1, it is 0.482 or 48.2%, so of the PIP variable on increasing community welfare is 0.482 or 48.2% and the influence affects other variables, some of which are not tested in this study. Keyword: Smart Indonesia Program, Community Welfare, Islamic Economy

Intralingual Understanding of Zakat, Infaq, alms, and Gifts in Islamic Economics In Aceh

The implementation of Islamic economics in Aceh has a positive impact on society. Aceh Province is a region in Indonesia that has an influence on poverty issues because it has been hit by social conflict that has been going on for a very long time so that access to work is not conducive for the people of Aceh. ). Aceh Province with the implementation of Islamic law has a role to play in resolving and minimizing poverty problems. The method used by Aceh Province is to foster the management of zakat, infaq and alms because they are sources of eternal funds. Supporting the importance of previous research on zakat, infaq and alms, this study wants to determine the ability to understand interlingual terminology about zakat, alms and infaq plus one other terminology, namely gifts. This research was a descriptive-qualitative research. The data used are 4 terminologies in Islamic economics, namely alms, zakat, infaq and gifts to be translated interlingually. The four terms to be translated were analyzed using the intralingual equivalence method. The sample is 50 students from the Faculty of Economics who have studied science related to Islamic economics courses. The findings obtained that related to the terminology of zakat, all participants as many as 50 students or 100% of participants managed to answer intralingually. Then, there were the same results between the terminology of infak, sedekah, and hadiah, namely 47 students managed to answer correctly but insignificantly there were only 3 students who answered incorrectly.

Journal Implications for the Decision of Sharia Economic Case Number 5K/Ag/2023

Islamic economics is experiencing a rapid expansion, which may lead to inevitable conflicts. In Indonesia, the religious court is the authorized legal institution designated to resolve financial disputes related to Sharia law. Religious courts are authorized to settle financial disputes related to sharia in accordance with Law No. 7 of 1989 regarding Religious Courts and Law No. 3 as of 2006. The aim of this study is to gain a deeper understanding of the resolution of default disputes through the Supreme Court's decision titled "Implications for Arguments and Considerations in the Decision on Sharia Economic Disputes Number 5K/Ag/2023". A descriptive qualitative method was employed to conduct this research. This methodology focuses on collecting data and conducting in-depth analyses to comprehend the studied phenomenon. The findings of this study indicate that the decision of the judex facti/mahkamah sha'riyah Aceh is in accordance with the law, and therefore the cassation petition filed by the appellant must be denied. Objective analysis shows that the case was handled lawfully, without any violation of legal regulations or principles.Keywords: Sharia Economic Law, Religious Courts, Case Law

ANALISIS DAMPAK PENGGUNAAN CRYPTOCURRENCY TERHADAP PERTUMBUHAN EKONOMI ISLAM DI INDONESIA

This research aims to gain a better understanding of cryptocurrencies, including their working mechanisms and impact in economic and investment contexts. Apart from that, this research also wants to evaluate the potential consequences of the government’s lack of seriousness regarding the spread of cryptocurrency in Indonesia. The method used is a qualitative descriptive approach with normative aspects, including risk analysis and potential profits from investing in cryptocurrency. This research covers the spread of cryptocurrencies across Indonesia and the risks associated with their use. It is hoped that the results of this research will provide a deeper understanding of how cryptocurrencies work, their impact, and the role of governments in regulating their spread. Therefore, this research will provide important information for the government and society in making decisions regarding the regulation and use of cryptocurrency in Indonesia.Keywords: Cryptocurrency; Investment; Islamic Economics

The Application of AHP on Selected 100 Islamic Economics and Finance Research

This study tries to review the application of research using the Analytic Network Process method in the theme of Islamic economics and finance. It uses descriptive statistical analysis based on selected 100 article publications. The entire sample publications have been published from 2008 to 2019. The results show that research using the AHP method is still dominated by discussing themes related to Islamic banks, the Halal industry, and Islamic social finance such as waqf, zakat, and Islamic microfinance. The countries with the most AHP case studies are Indonesia and Malaysia. Aam Slamet Rusydiana and Nurul Huda is the author who the most researched about AHP. The software most often used in the AHP method is expert choice. Islamic Bank Selection Criteria in Malaysia, An AHP Approach is the research that most often becomes a source of reference by other researchers.

Lectronic Marketing, its Elements and Controls from the Perspective of Islamic Economics

lectronic Marketing, its Elements and Controls from the Perspective of Islamic Economics

ISLAMIC DONATIONS-BASED CROWDFUNDING PLATFORMS IN MALAYSIA: AN EVALUATION OF REGULATORY AND SHARIAH ISSUES

The emergence of innovative digital financial technologies has made donation-crowdfunding viable as a method that can supplement traditional fundraising mechanisms. Crowdfunding has recently gained worldwide attention as an alternative financing mechanism to the traditional fundraising methods for business ventures or social projects. While donation-crowdfunding which utilise platforms has demonstrated promising growth, there is no established legal framework available to accommodate its operation, especially for Islamic ones. Therefore, this study provides intuitive information pertaining to legal and Shariah issues in governing Islamic donation-based crowdfunding in Malaysia. Drawing from the conceptual framework of Islamic economics and qualitative data collection through semi-structured with six representatives of the Islamic donation-crowdfunding platforms, this study concludes that the issues associated with Malaysian regulations regimes and Shariah issues revolve around the donation- based crowdfunding platforms business model should be considered when devising a Shariah framework for donation-crowdfunding schemes. The findings will help policymakers to formulate and put in place the appropriate regulatory framework to facilitate Islamic donation-based crowdfunding practice.

Menganalisis Ekonomi Dalam Islam Yang Berkaitan Dengan Aspek Hukum Dalam Bisnis

Islamic economics is a scientific discipline that integrates economic principles with Islamic teachings. In the Islamic economic framework, business activities are not only viewed from a profit perspective, but also from an ethical and social responsibility perspective. The Islamic economic approach to business rejects the practices of riba (interest), gharar (uncertainty), and maysir (speculation), and requires the implementation of a system based on profit sharing such as mudharabah and musyarakah. In addition, in carrying out business, it must always be ensured that the goods and services traded are halal and good, in accordance with the principles of halal and thayyib. The principles of economic growth in Islam include tawhid, rubiyyah, caliphate, and tazkiyah. It is hoped that by complying with sharia business ethics, a Muslim entrepreneur can maintain his business because he will always receive the blessings of Allah SWT both in this world and in the hereafter.

Islamic economics: Intertemporal prices, interest rates and discount rates

Islamic economics: Intertemporal prices, interest rates and discount rates