Islamic Economics Research Articles

Purchasing Decisions For Halal Product Which Are Influenced By Religiosity, Knowledge, And Awarness Study at Sharia Economics Students At The University of Jember

This research was conducted to examine the influence of Religiosity, Knowledge and Awareness on Halal Purchase Intention Studies case of Islamic Economics Students at the University of Jember. This research focuses on students of the University's Islamic Economics Study Program who have purchased halal products. This research is classified as an explanatory research, using multiple linear regression analysis techniques which aim to determine the relationship between the variables of religiosity, knowledge and awareness of the purchasing decisions of halal products for Islamic Economics students at the University of Jember. Sampling was carried out using a non-probability sampling technique, namely purposive sampling with a sample size of 100 respondents. The results show that Religiosity, Knowledge and Awareness have a significant effect on the Decision to Purchase Halal Products of Islamic Economics students at the University of Jember.

Waqf Model for Climate Change: A Delphi Method Approach

Waqf as one of the instruments of Islamic philanthropy has an important role in supporting the achievement of SDG-13. This is shown by the purpose of waqf in preserving the environment, which in turn affects climate change. This research aims to prioritize waqf aspects in achieving SDGs goal 13, namely Climate Action. The analysis method used in this research is the Delphi method with a questionnaire. In addition, the data also used in this study are the results of interviews with academics, practitioners and regulators of waqf and Islamic economics in general. Based on the results of the analysis, it was found that of the 14 variables of waqf aspects for SDG-13, 13 variables were agreed upon by experts and 1 variable was not agreed upon, namely related to the waqf model, namely waqf-zakat. Then regarding the attention criteria, the most important variable in waqf development according to SDG-13 is the environment. In Maqashid Syariah, the most important variable in waqf development according to SDG-13 is bi'ah. And in the Waqf model, the most important variable in waqf development according to SDG-13 is waqf-sukuk.

Factors that influence Personal Financial Management at the Islamic Economics Student Institute Perbanas Jakarta

Objective – Personal financial management is a way of managing finances that is the responsibility of the individual. This study analyzes the effect of financial literacy, financial attitude, and hedonistic lifestyle on personal financial management in Islamic Economics students at Perbanas Institute Jakarta. The benefit of this research is that Islamic Economics Students at the Perbanas Institute, Jakarta, are more careful in managing their personal finances. Methodology – The population in this study was Perbanas Institute Jakarta Islamic Economics students’ class of 2018-2021. The sample in this study was obtained from questionnaire data distributed to 100 respondents using the nonprobability sampling method. Sampling used accidental sampling. Findings – Using regression analysis, data were processed with SPSS version 25. The results showed that the hedonistic lifestyle proved to have a positive and significant effect on personal financial management. In contrast, financial literacy and financial attitude had no effect on personal financial management. Adjusted R Square value of 23.2% states that Personal Financial Management is influenced by Financial Literacy, Financial Attitude, and hedonistic lifestyle of 23.2%. Novelty – It is recommended to improve the hedonistic lifestyle in managing their finances and how to allocate time effectively so that Personal Financial Management also increases so that they can save expenses. Type of Paper: Empirical JEL Classification: G21, G34, B26 Keywords: Financial Literacy, Financial Attitude, Hedonism Lifestyle, Personal Financial Management. Reference to this paper should be made as follows: Markonah, M; Mediteraniai, H.E; Cahaya, Y.F. (2023). Factors that influence Personal Financial Management at the Islamic Economics Student Institute Perbanas Jakarta, J. Fin. Bank. Review, 8(3), 125 – 132. https://doi.org/10.35609/jfbr.2023.8.3(2)

Indonesia Sharia Stock Investment During Covid-19: Based on Islamic Economic Law Review

The development of technology and financial literacy has increased the number of Indonesians who use stocks as an investment instrument. This also has an impact on the popularity of Islamic stocks. This is because many people are interested in Islamic investment instruments. However, the COVID-19 pandemic has had a significant impact on stock price movements. Sharia stock prices have also experienced very volatile movements due to the COVID-19 pandemic. This phenomenon raises the question of whether investing in Islamic stocks during the COVID-19 pandemic is against Islamic economic law. This is because Islamic stock prices seem to be filled with uncertainty and have experienced a very significant price decline. Moreover, due to the COVID-19 pandemic, the number of stock investors is increasing rapidly. This article aims to analyze Islamic stock investment during the COVID-19 pandemic through the perspective of Islamic economic law. To analyze this issue, this article collects data through library research. The data were analyzed using qualitative methods. In the end, this article finds that investing in Islamic stocks during the COVID-19 pandemic does not contradict the principles of Islamic economic law. Instead, this article suggests that the public can take advantage of a certain momentum to start investing in Islamic stocks.

Pemanfaatan Media Sosial dalam Meningkatkan Kinerja UMKM Menurut Perspektif Ekonomi Islam di Usaha Terang Bulan Legend Sidoarjo

The use of social media has become a significant phenomenon in the business world, including Micro, Small and Medium Enterprises (UMKM). This article reviews how social media can improve the performance of UMKM from an Islamic economic perspective, with the Case Study of Terang Bulan Legend in Sidoarjo. First, social media gives UMKM wider access to market their products and services. This is in line with Islamic economic principles which encourage transparency and healthy competition in the market. With social media, UMKM can reach more consumers without having to incur large costs. Second, social media allows UMKM to build better relationships with their customers. In an Islamic economic perspective, building strong and mutually beneficial relationships with customers is highly valued. Social media facilitates more intensive interaction between UMKM and customers, thereby increasing customer loyalty. Third, social media makes it easier for UMKM to monitor market trends and consumer needs. By adhering to Islamic economic principles, UMKM can adapt more quickly to market changes and ensure their products and services remain relevant. In the Terang Bulan Legend Case Study in Sidoarjo, the use of social media has resulted in a significant increase in sales and profits. This is concrete evidence that social media can help MSMEs improve their performance, in accordance with Islamic economic principles that encourage fair and sustainable business. In conclusion, the use of social media in UMKM, such as Terang Bulan Legend in Sidoarjo, has a positive impact that is in line with Islamic economic principles. Social media helps UMKM expand their markets, build strong customer relationships, and stay competitive in an ever-changing market. All of this contributes to improving the economic and social performance of UMKM.
 Keywords: Social Media, UMKM, Islamic Economics

Pajak Menurut Imâm Al-Juwayni, Studi Literatur Kitab Ghiyâthi Al-Umam Fi Iltiyats Al-Ẓulam

Maqâṣid Al-Shari’ah as part ofUṣûl Al-fiqh, is an inseparable tool of a personMujtahidin interaction with reality. There are pros and cons in Tax as an issue in Islamic economics as a product of ijtihad, Imâm Al-Haramayn discusses this comprehensively, because he differentiates betweenAl-Naṣ (Text),Tafsir Al-Naṣ, andTaṭbiq Al-naṣ (text application). The concept is outlined in detail in the discussion of Tax in the bookGhiyâṭi Al-umam Fi Iltiyath Al-ẓulam. This research aims to determine the concept of taxation contained in the book Ghiyâthi al-Umam, which is an example of applicationMaqâṣid al-Syari'ah according to Imam al-Juwaynî. This research uses a qualitative approach, namely Library Research;Library Research. This research is based on the literature of Imâm Al-ḥaramayn and his thoughts. This research uses Uṣûl Al-fiqh analysis and the derivation of its implementation, including Maqâṣid al-Syari'ah and Qawâid Fiqhiyah. Then as a comparison include Muqâranah al-Aqwâl Bayna al-Ulamâ al-Mu'tabarîn. The results of this research emphasize the need for a more basic understanding in understanding the context that develops within the Islamic Ummah,Maqâṣid Al-Shari’ah as a bridge between text and reality, it was used by Imâm Al-ḥaramayn, a pioneer of scienceMaqâṣid Al-Shari’ah. The concept of non-ideality within the Muslim community, especially in the context of the state, requires scholars to look for the most ideal ideas in understanding current developments without losing their solid footing. Taxes in their application as state income whose legitimacy is recognized by Islamic Sharia have pros and cons, these cons depart from the consensus regarding the respectability of wealth. In this case, Imâm Al-ḥaramayn proposed a pattern that is application-basedMaqâṣid Al-Shari’ah as a response to the tax polemic.

Implementation of Sustainable Finance Regulation for Financial Institutions in Indonesia

The interaction between people and the environment are very vital because functioning ecosystem services are important resources for people. Economy is a subsystem of human society, which is also a subsystem of life on earth and its ecosystem. The issue of environmental change has shifted from a peripheral concern of scientists and environmentalists to being a central issue in global policymaking. To ensure global long-term financial stability and economic development, financial institutions need to significantly change their performance to promote more responsible and sustainable business practices. The Financial Services Authority of Indonesia has unveiled a roadmap, which sets forth the end goal of sustainable finance in Indonesia by the financial services industry and determines the benchmark for improvements in sustainable finance. This paper explains the reasoning and implementation of sustainable financing policies under the term of Environment, Social, and Governance concepts. This paper explains the complementarities of the Islamic worldview and sustainable financing policies by opening up the topic of the scientific nature of heterodox Islamic economics in particular. The term sustainable financing conveys the fact that society and economics, finance, environment, governance, polity, institutions, etc. cannot be independent of a unique and common set of moral and ethical values. The ESG concept is completely in line with the Maslahah concept under shariah law. It embeds moral and ethical values in the body of heterodox Islamic economic thought aligned with the shariah ruling.

The Global Issues of The Islamic Economic System: Study Of Islamic Philantrophy (Ziswaf) as a Strategy For 2023 Recession In Indonesia

Abstract
 Russia's Ukrainian conflict is not only a concern internationally but also a problem for the international market due to the threat of a food and energy crisis Moreover, the two countries are the world's largest producers and exporters of oil gas, and wheat. This resulted in a global recession, which was characterized by a decrease in economic activity, increased inflation, and weak economic growth. The threat of economic recession hits various countries because they cannot pay production costs and tend to have layoffs while increasing the national unemployment rate. This paper offers the instrument of Islamic philanthropy (Ziswaf) the means to deal with a global economic recession. Social funds (Ziswaf) are widely used for humane programs, especially for the economically weak, both consumptive and productive. This paper uses a narrative method of quantifiable research with literature obtained from books, newspapers, and other information media. In the paper, evidence of previous research will also be given as evidence that Ziswaf can become a strategy as well as a solution to face the 2023 economic recession. Moreover, if the Ziswaf funds are distributed properly and fairly, undoubtedly the unemployment and poverty rates are easily overcome.

Impacts of the Rise of Subsidized Diesel Fuel Price to the Commodity Price Through the Perspective of Islamic Economy

Beberapa pendapat fuqoha’ klasik seperti Ibnu Khaldun, Ibnu Taimiyah, Abu Yusuf, dan lain sebagainya menyatakan bahwa penetapan harga hanya dilakukan melalui banyaknya permintaan dan penawaran. Namun seiring dengan perkembangan zaman, sebagian fuqoha’ berpendapat bahwa penetapan harga yang dilakukan pemerintah boleh saja dilakukan untuk kepentingan seluruh rakyat Indonesia. Pada tanggal 3 September 2022 Pemerintah Republik Indonesia menaikkan harga BBM bersubsidi jenis Pertalite dari Rp. 7.650/liter menjadi Rp. 10.000/liter. Kemudian tipe Solar Harga mulai dari harga Rp. 5.150/liter menjadi Rp. 6.800/liter. Kenaikan harga bahan bakar dapat berdampak langsung dan tidak langsung terhadap harga komoditas. Untuk memastikan hal tersebut, penelitian ini bertujuan untuk menganalisis dampak jangka panjang dan jangka pendek dari kenaikan harga bahan bakar solar bersubsidi dengan menggunakan model VAR/VECM menggunakan E-Views 10.

Impact of Hedonistic Lifestyle to the Impulsive Buying of Students through the Perspective of Islamic Economy

Kalangan yang paling rentan terhadap gaya hidup ini adalah remaja atau pelajar. Fokus penelitian ini gaya hidup hedonis terhadap perilaku impulsif mahasiswa pada perspektif ekonomi Islam. Pendekatan penelitian ini adalah kualitatif dan jenis penelitian fenomenologi, pengumpulan melalui wawancara, observasi. Hasil penelitian menunjukkan bahwa gaya hidup hedonis mahasiswa FEBI UIN Alauddin Makassar berdampak signifikan terhadap perilaku konsumtif, dan mendorong terjadinya pembelian impulsif. Hal ini bertentangan dengan nilai Islam yang mengecam pemborosan. Penelitian ini memberikan pengetahuan tentang faktor yang mempengaruhi gaya hidup hedonis dan perilaku impulsif pada mahasiswa, serta menekankan pertentangan antara perilaku tersebut dengan prinsip ekonomi Islam. Kesimpulan dari penelitian ini adalah perlunya pemahaman mendalam, kesadaran dan pengendalian diri terhadap gaya hidup hedonis di kalangan mahasiswa agar dapat meminimalkan perilaku konsumsi impulsif yang bertentangan dengan nilai ekonomi Islam.

Pemahaman Umat Muslim Tentang Distribusi Kekayaan dalam Ekonomi Islam: Studi Fenomenologi Tentang Pemerataan Ekonomi

This research raises a crucial issue in the context of Islamic economics, namely the understanding of Muslims on the distribution of wealth and the phenomenon of economic equity. Using a phenomenological study approach, this research seeks to gain in-depth insight into the perceptions, views and experiences of Muslims regarding this issue. Through in-depth interviews and participatory observation, qualitative data were obtained to be analyzed descriptively and thematically. The results of this study provide a deep understanding of the thoughts of Muslims towards the distribution of wealth in the Islamic economic paradigm. Within the framework of the concept of economic equity, this study explores the essential aspects that influence the perceptions of Muslims in the context of wealth distribution. The findings of this study also provide a more holistic understanding of the phenomenon of economic equity in Islamic economics. This research has significant implications in developing an understanding of the principles of wealth distribution in Islamic economics. The results of these findings can contribute to the development of more inclusive and just economic policies in Muslim societies. By considering the interests and needs of Muslims, this research encourages the efforts of the government and policy makers to promote economic equality as a strategic step in achieving better social and economic justice.

ISLAMIC ECONOMIC TRANSFORMATION IN THE DIGITAL ERA: A REVIEW OF THE ROLE OF FINTECH

This research examines the transformation of the sharia economy in the digital era with a focus on the role of Financial Technology (Fintech). Advances in information and communication technology have had a significant impact on the structure of the global economy, including Islamic financial practices. Fintech as a digital financial innovation has the potential to accelerate the growth of the sharia financial sector. This research uses a qualitative approach to analyze Fintech developments in the context of Islamic economics. Data collection was carried out through literature studies and interviews with financial practitioners and Islamic economics experts. It is hoped that the results of this research will provide an in-depth understanding of the impact of Fintech on the sharia financial ecosystem and how this innovation can strengthen sharia economic principles. In the digital era, the transformation of the sharia economy through fintech has brought significant changes, opening up financial access for Muslim communities who were previously marginalized in the conventional financial system.

STRATEGI PEMASARAN DALAM MENINGKATKAN VOLUME PENJUALAN PRODUK DI GIVIE DESSERT

Safhira Azaria (11725046), “Marketing Strategy to Increase Sales Volume at Givie Dessert”. Faculty of Islamic Economics and Business Islamic Business Management Study Program, State Islamic Institute (IAIN) Pontianak, 2021. The purpose of this study was to find out what strategy was used and how the implementation of that strategy was used by Givie Dessert in increasing sales volume. With a research focus on marketing strategies to increase sales volume at Givie Dessert. This study used qualitative research methods. Sources of primary data in the form of direct observations and interviews with sources, namely the manager and owner of Givie Dessert. While the data collection technique is by means of observation, interviews, and documentation. Then the data were analyzed using data reduction techniques, data presentation, and drawing conclusions. In the end, the data will be tested for validity using data triangulation and member check techniques. The results of this study indicate that Givie Dessert has implemented a marketing strategy (marketing mix). This has a significant effect on the sales volume of Givie Dessert.

The Phenomena of The Cryptocurrency Fall in The Sharia Economic View

Digital money was first developed in the 1960s when Western Union introduced electronic funds transfers (EFT). In Indonesia, digital money only became popular around 2007. Electronic money regulations are contained in Bank Indonesia Regulation Number 11/12/PBI/2009. Cryptocurrencies are made from a combination of blockchain technology and cryptography. Blockchain is a technology for recording interconnected transactions using unique and immutable codes. On the other hand, Cryptography is a branch of computer science that studies how to hide information. This research aims to obtain answers regarding cryptocurrencies as currency/method of exchange/assets/commodities in Indonesia. The theory applied is the theory of legal and vanity business transactions in Islam. This research is a literature study and is qualitative in nature. The data analysis technique used is analytical descriptive with a normative juridical Islamic law approach. From this research, the results show that cryptocurrencies are haram, referring to the MUI Fatwa, the decisions of the Laznah Bahtsul Masail East Java Nahdathul Ulama Regional Management (PWNU), the Tarjih Council and the Tajdin Central Executive of Muhammadiyah, the opinion of Islamic economics academics. The factors that make cryptocurrencies illegal because they are considered to contain speculation, maysir and are vulnerable to being used for illegal activities. The weaknesses of cryptocurrency are marked by the fall of crypto throughout 2022 and are predicted to continue in 2023. Crypto is illegal lighairihi or haram due to external factors, so it should be avoided.

Pengaruh Kualitas Layanan E-Form terhadap Tingkat Kepuasan Nasabah pada PT Bank Syariah Indonesia Kantor Cabang Mataram Pejanggik 1: Studi pada Mahasiswa Perbankan Syariah 2020/2021 UIN Mataram

This research is a descriptive quantitative study which aims to examine the effect of e-form service quality on the level of customer satisfaction. The method used in this research is a quantitative method. The research population used 106 Islamic Banking students from the 2020/2021 Faculty of Economics and Islamic Business, UIN Mataram and the sample used was 85 people. Data collection techniques in research are observation, documentation and questionnaires. The data in this research was obtained from the results of distributing questionnaires to a sample of 85 people, all of whom were 2020/2021 Islamic Banking students at the Faculty of Islamic Economics and Business, UIN Mataram. Based on the results of the hypothesis test that has been carried out, the research results show that the electronic service quality variable has a significant effect as proven by the results of data analysis, namely, tcount 9.462 > ttable 1.992, which means that there is an influence of electronic service quality on customer satisfaction. And, based on the results of partial analysis in simple linear regression, it can be seen that the significance value (Sig.) of 0.000 is smaller than <0.05 and it can be concluded that H0 is rejected and H1 is accepted, which means that there is an influence of electronic services on the level of customer satisfaction. And the results of the path analysis showed that the influence of electronic service quality had a positive and significant effect on customer satisfaction with a coefficient of 0.519. And it can be concluded from the data obtained that the quality of electronic services has a significant and positive influence on the level of customer satisfaction.

Marketing Mix Strategy in Waqf Online Fundraising Platform: An Importance-Performance Analysis

As an Islamic social finance practice, waqf has a considerable potential to develop community following maqashid sharia and SDGs. At IPB University, one of few universities with authority as a nazir, the implementation of waqf from ‘civa to civa’ on campus has huge benefits for the development of their surrounding without having to rely on government funding. This study, using Islamic Economics students as its respondent, tries to formulate a marketing strategy for waqf online fundraising platform employing an Importance Performance Analysis. Results show that there is still a noticeable gap between the potential and realized the value of waqf in this platform and demography, indicating that the performance has yet to reach the select value from respondents. Three attributes of the marketing mix in IPB’s online waqf platform that needed the most attention: social media promotion, mass media promotion, and integration with other fundraising platforms.

Presidential Candidate Figures Towards the Vision of Advanced Indonesia 2045

Achieving the Vision of Advanced Indonesia 2045 can only be achieved through a quality leadership and development planning process. Therefore, the presidential election in 2024 as part of the development planning process is important to make development implementation successful. This research is quantitative descriptive. Data collection techniques in this research took the form of online surveys and interviews. The respondents in this research were students of the Islamic Economics Study Program, Faculty of Islamic Economics and Business, UIN Walisongo Semarang who had taken the Development Planning Course. The research results show that respondents consider the economic and industrial sectors, as well as human resource development, especially the education sector, to be the main fokus in the RPJMN for the 2025-2029 period. Thus, a state leader is needed who has an honest and trustworthy character, as well as being intelligent and innovative in carrying out national development priorities. The majority of respondents view track record as one of the considerations in choosing a presidential candidate. Respondents obtained most of the information regarding presidential candidates from the internet.

Market Engineering in Supply: Ikhtikar of Perspectives Islamic Economics

The market mechanism is guaranteed freedom in Islam. The market is free to determine the means of production and prices, and there should be no interference that results in the destruction of the market balance. But in reality it is difficult to find a market that runs by itself fairly. One of them is the practice of hoarding or what is often referred to as monopolistic practices carried out by producers or sellers so that the availability of basic necessities is getting thinner and scarcer so that they can play prices in the market. Seeing this, this article aims to see whether hoarding practices are a form of market engineering in supply (ikhtikar) and to explain the views of Islamic Economics regarding hoarding practices (monopoly). This article is a library research and uses a qualitative method with a normative approach. The data source used is secondary data derived from books, journals and articles related to the practice of ikhtikar, hoarding, and monopoly as well as how Islamic economics views. The results of this study found that price fluctuations also occur due to fraudulent actions in the market such as hoarding by speculators. The act of hoarding in question is market engineering in supply (ikhtikar). The practice of ikhtikar is strictly prohibited in Islamic Economics because it can disrupt the market mechanism. For this reason, the role of the government as a policy maker is needed to regulate in order to create a fair price.

ANALISIS TERHADAP STRATEGI PEMASARAN PRODUK UMRAH BAYAR KRIDIT PERSPEKTIF EKONOMI ISLAM (Studi Pada Risma Tour Banjarbaru)

This research was motivated by the latest umrah service product from Risma Travel Banjarbaru which applies umrah packages with a credit (debt) system. While in Islam it is forbidden to perform Umrah in a state of debt. The product is interesting to be further researched and reviewed from the perspective of Islamic economics. The formulation of the problem in this study is: (1) How is the marketing strategy of umrah bayar kridit products (2) How is the Islamic economic review of the marketing strategy of umrah bayar kridit products Islamic economic perspective. This type of research is qualitative descriptive field research. The subject in this study is the travel manager of Risma Tour. While the object is the implementation of the marketing strategy of Umrah products from an Islamic economic perspective. Data collection techniques use observation, interview and documentation methods and use interactive qualitative data analysis techniques. The results obtained from this study are: (1) The marketing strategy of Umrah bayar kridit products is carried out by applying three things, namely: (a) Products, by providing safe and quality Umrah services, (b) Prices, by offering cheap and affordable prices, (c) Promotion, by advertising products through social media, (d) Places, by choosing locations that are easily accessible to prospective Umrah pilgrims. (2) The marketing strategy of Umrah bayar kridit products according to Islamic economic reviews is correct, because it does not contradict the principles of Islamic teachings by using murabahah contracts in the concept of muamalah

THE TRANSFORMATION OF SHARIA ACCOUNTING IN PROMOTING SUSTAINABILITY ECONOMIC GROWTH

This research aims to analyze the transformation of Islamic accounting and its impact on strengthening the sustainable economy and gain a deeper understanding of innovative Islamic accounting practices, the role of technology in driving efficiency, and their contribution to overall Islamic economic growth. In recent years, the Islamic economy has experienced significant growth in various countries. Islamic economic principles based on Islamic moral and ethical principles offer an attractive alternative to the conventional financial system. Islamic accounting has a key role in ensuring transparency, sharia compliance, and sustainable growth in the Islamic economy. This research will discuss the importance of transformation in sharia accounting practices to achieve the goal of strengthening the broader sharia economy. Sharia accounting, as one of the important elements in the Islamic economy, plays a crucial role in ensuring transparency, sharia compliance and sustainable growth. However, further research is needed to understand how transformation in sharia accounting practices can encourage the strengthening of a sustainable economy. This research is qualitative research. The data collection technique used in this research was literature review from secondary data sources in the form of books, journals, scientific articles, official invitational websites that have information relevant to research topics such as sharia accounting and economics. The data analysis technique used in this research is content analysis technique. The results of this research are expected to provide a deeper understanding of the role and contribution of sharia accounting transformation to strengthening a sustainable economy as well as contribute to science, provide practical guidance, and raise awareness about sustainability and sharia accounting among the public.