Islamic Economics Research Articles

Analisis Jaminan Produk Halal Menggunakan Sertifikasi Halal dalam Meningkatkan Daya Saing

Halal food halal refers to good food that does not contain substances or ingredients that are dangerous or prohibited in Islamic teachings and are prohibited from being eaten by Muslims. According to Islamic economics, halal certification is used to determine the halalness of a product being sold. This research aims to find out how the implementation of the halal guarantee system can increase competitiveness. Judging from the research objectives, this research uses qualitative methods by combining observation, interview and documentary data collection techniques. Research data regarding halal product guarantees for halal food products in Purwo Bakti Village, Bathin III Bungo District is in-depth and comprehensive. Then data acquisition was carried out and descriptive analysis was carried out. The research results show that the implementation of the Halal Guarantee System (SJH) using halal certification by business owners, the implementation components are materials, products, product facilities, traceability and product handling that meet the criteria. Pisang Sale has halal certification which is shown by the presence of a halal certificate and other factors so that business people think that having a halal label on the product packaging makes buyers more confident in buying and makes it easier to market the product in supermarkets and nearby shops.

Pengaruh Pengetahuan, Kemudahan Penggunaan, dan Kemanfaatan Quick Response Code Indonesian Standart (QRIS) Terhadap Penggunaan E-Wallet

This research aims to determine whether knowledge, ease of use and usefulness of the Quick Response Code Indonesian Standard (Qris) have a significant effect on the use of E-wallet among FEBI UIN North Sumatra students. The population used in this research were all active students in 2020-2021, Faculty of Islamic Economics and Business, UIN North Sumatra, totaling 4,878 with a sample size of 100 respondents. The sampling technique in this research used Non Probability Sampling using Purposive Sampling. The research method used is a quantitative method with multiple regression analysis, and the data collection technique is carried out by distributing questionnaires. The results of this study show that knowledge has a significant effect on the use of e-wallets among Febi UIN North Sumatra students, ease of use has a significant effect on the use of e-wallets among Febi UIN North Sumatra students, and usefulness has a significant effect on the use of e-wallets among Febi UIN Sumatra students North. Knowledge, ease of use and usefulness have a significant influence on the use of e-wallets among Febi UIN North Sumatra students.

Sharia-compliant financial statements: Specifics of information disclosure

Subject. This article deals with the issues related to the disclosure of information in the financial statements by organizations providing partnership financing services. Objectives. The article aims to study the features of the Islamic model of accounting, its regulatory framework and the requirements for disclosure of information in financial statements in accordance with AAOIFI standards. Methods. The scientific works by contemporary foreign and domestic scientists engaged in the study of the Islamic model of accounting and the problems of disclosure of information in financial statements by Islamic financial institutions served as a methodological basis for the study. Results. The article finds that religion and ethical standards embedded in Islamic economics have a significant impact on accounting and the formation of Sharia-compliant financial statements. The article also describes the emergence and development of the Islamic accounting model and the distinctive features of information disclosure in accordance with RAS, IFRS and AAOIFI standards. The article provides examples of information disclosure in financial statements by Islamic financial institutions operating abroad and in Russia. Conclusions. The information disclosed in the financial statements of Islamic financial institutions in accordance with AAOIFI standards is much broader than under RAS and IFRS. The specifics of reflecting transactions on partnership financing are currently traced in the financial statements of companies operating in foreign countries, where partnership finance has been developing for many years. Financial institutions operating in the field of partnership finance in Russia prepare accounting (financial) statements in accordance with RAS, and when preparing internal management reporting, they are guided by IFRS and AAOIFI standards.

Pengaruh Brand Image dan Word Of Mouth Terhadap Keputusan Pembelian Produk Kosmetik Wardah

The aim of this research is to determine the influence of brand image and word of mouth on purchasing decisions for wardah cosmetic products among students at the Faculty Of Islamic Economics and Business at UIN Raden Fatah Palembang. The type of research used is quantitative research. The data analysis techniques used in this research are validity and reliability testing, classical assumption testing and hypothesis testing. The research result show that brand image has a positive and significant effect on purchasing decisions, word of mouth has a positive and significant effect on purchasing decision. Brand image and Word of mouth simultaneously have a positive and significant effect on purchasing decisions.

Implikasi Laju Inflasi Terhadap Gross Domestic Product (GDP) Berdasarkan Perspektif Ekonomi Islam

This journal discusses the influence of the inflation rate on Gross Domestic Product (GDP) based on an Islamic Economics perspective. So it can be understood that the size of the inflation rate in a country will greatly influence the level of GDP. Where inflation has a simultaneous influence on GDP, and inflation has a partial negative impact on GDP. The writing of this journal uses a deductive qualitative approach (from general to specific), examining relevant general phenomena, then producing specific studies and conclusions on matters that are the object of research, using a normative juridical approach with literature study. A country's economic growth can be represented through an increase in the country's GDP, apart from income factors in terms of consumption, investment, government spending and net exports. GDP is greatly influenced by the inflation factor. Inflation in the view of Islamic economists is an economic indication that occurs at a macro level in almost every country related to the decline in the exchange rate of money for goods and services, whether it occurs naturally (natural inflation) or is caused by human error (Human Error Inflation). Inflation does not only occur naturally, it can be caused by the pull of Aggregate demand (Aggregate demand) or due to a decrease in Aggregate supply (Aggregate Supply), but also occurs due to human error in regulating state administration and law enforcement, giving rise to a country's economic interconnectedness. Maintaining the stability of a country's economy by controlling the rate of inflation is something very basic, where inflation significantly affects Gross Domestic Product. GDP is an important indicator of economic growth in measuring economic activity, especially the volume of production in a country in one year.

Implementation of Flipped Classroom in Increasing Students’ Grammar Ability of Islamic Economic Department Student in UIN Datokarama Palu

The aim of this research was to describe the effect of the flipped classroom on increasing students’ ability in grammar. This research belonged to quasi-experimental research with a group pre-post-test design involving 50 bachelor degree students from the Islamic Economic Department at UIN Datokarama Palu as the sample. The sampling technique was total sampling with the experimental group (25 students) and control group (25 students). To assess the students’ ability in grammar, four components were measured: accuracy in tense usage, consistency, understanding of tense form, and contextual appropriateness. The students’ scores were classified into five categories: very good, good, medium, low, and failed. After treatment, the grammar ability scores increased for the experimental group. The percentage increased in all aspects: accuracy in tense usage increased by 45%, consistency by 40.6%, understanding of tense form by 31%, and contextual appropriateness by 32.8% from the pre-test scores. The Flipped Classroom model revolutionized the teaching of English grammar, offering practical strategies for implementation, and emphasizing the need for collaborative and independent learning experiences to enhance students' language proficiency and overall learning outcomes.

Legal Responsibility of Coal Mining Company PT. International Prima Coal for Worker Welfare and Safety

Pancasila provides the direction and foundation for the formation of laws, policies and actions of the Indonesian government. This principle emphasizes the need to overcome social, economic, and political inequalities and provide equal opportunities for all Indonesians to prosper. This reflects a commitment to creating a just society. The method used in this study is qualitative using a qualitative descriptive approach, the data collection techniques used are interviews, observation, and documentation. From the results of the first study, mining business actors regarding the protection of women's labor rights still have women's labor rights that have not been fully fulfilled so that in this case it is not in accordance with Law No. 6 of 2023. Unfulfilled rights are menstrual leave and miscarriage leave. Furthermore, regarding the equality of women workers, it is proven by the existence of female workers who serve as Managers and there is no difference in the nominal salary. While the implementation of Corporate Social Responsibility funds of PT. International Prima Coal is good enough according to government regulations because it meets all aspects of the East Kalimantan Blue Print. Implementation of Corporate Social Responsibility funds of PT. International Prima Coal is also in accordance with the perspective of Islamic Economics.

Application of Maqasid Al-Shariah in Islamic Economics and Finance as the Development of Products of Islamic Value

Application of Maqasid Al-Shariah in Islamic Economics and Finance as the Development of Products of Islamic Value

Prototype of Fiduciary Guarantee in Islamic Law

Fiduciary guarantees are material guarantees, which at first glance have similarities to pledge guarantees in Islamic law. This research will attempt to answer three main problems, what is the prototype of fiduciary guarantees in the thinking of scholars from the four schools of jurisprudence? What are the reasons and arguments put forward by these scholars regarding the four crucial factors related to fiduciary? Whose opinion is closer to fiduciary guarantees in Indonesia? The research results conclude that the prototype of fiduciary guarantees in Islamic economics already exists. This prototype can be seen from four crucial factors in the practice of fiduciary guarantees, namely the handover of collateral objects, control of collateral objects, use of collateral objects by the debtor and the creditor's rights if the debtor defaults when projected into the collateral. Of the four factors of fiduciary guarantees, the majority of ulama, namely Hanafiyah, Malikiyah, Syafi'iyah and Hanabilah, have the same opinion. They only differ regarding the execution of collateral if the debtor defaults. The reason they developed in relation to the four crucial factors in fiduciary guarantees is that the handover of marhun is an absolute characteristic of the existence of a rahn contract. While in control of the collateral or marhun, seeing that the marhun is rahin's property and then the control rights are transferred to the murtahin, rahin will be able to borrow the original marhun with the murtahin's permission. Including when borrowing marhun from the murtahin's custody rights, the rahin can also use the marhun with the murtahin's permission. In connection with the crucial factors that exist in the practice of fiduciary guarantees, it is the opinion of Syafi'iyah scholars that is closest to fiduciary guarantees.

Praktek Jual Beli di Toko Anugrah Perspektif Ekonomi Syariah

Everyone will definitely need other people. More so in terms of human needs. one of them is in the field of trade related to materials. One of them is in the Anugrah Shop. The buying and selling practices carried out at Toko Anugrah have been running for a long time. How to do it is by observation, interviews, and documentation used to collect data. The tool used is the interview guide as the main tool. Data processing begins with data collection, data reduction, data organisation, and data validation. Triangulation techniques were used when testing the validity of the data. The results of the study state that this research aims to explore the practice of buying and selling at Toko Anugrah from the perspective of Islamic economics. Islamic economics emphasises the principles of fairness, transparency, and halalness in every transaction. This study explains how Toko Anugrah applies these principles in its daily operations, particularly in pricing, quality of goods, and the contract process. Through the implementation of the murabaha contract, this shop sells goods with a clear profit margin without the element of usury. The return policy is also set fairly, ensuring customer satisfaction and trust. The results show that the buying and selling practices at Toko Anugrah not only increase customer trust but also provide sustainable profits and blessings for the store.

Dinar Dirham: Restoration of Shariah Currency Values for Indonesia Economic Prosperity

This study aims to investigate the restoration of Shariah currency values through the implementation of Dinar Dirham for fostering economic prosperity in Indonesia. Employing a mixed-method approach, the research combines qualitative and quantitative methodologies. Qualitative data is collected through literature review and expert interviews to understand the historical significance and contemporary relevance of Dinar Dirham in Islamic economics. Quantitative data is gathered through surveys and financial analysis to assess the potential impact of reintroducing Dinar Dirham on Indonesia's economic landscape. The collected data is analyzed using thematic analysis for qualitative data and statistical techniques for quantitative data. The research results indicate significant interest among stakeholders in reintroducing Dinar Dirham as a means to stabilize the economy and uphold Islamic principles in financial transactions. Qualitative data analysis reveals the strong historical and contemporary relevance of Dinar Dirham in Islamic economics, while quantitative data suggests the potential for increased economic stability through the reintroduction of this currency. The implications of this study suggest that reintroducing Dinar Dirham can enhance economic stability, promote ethical financial practices, and strengthen Indonesia's position in the global Islamic finance industry.

Dimensi Pembentuk Ketertarikan Investor Memilih Produk Cilem BSI Kencong

Islamic investment has become an attractive choice for Indonesian society looking to grow their funds while adhering to Islamic law. BSI Kencong, part of Bank Syariah Indonesia (BSI), offers the Cilem investment product designed to meet these needs. This research aims to identify the factors influencing public interest in investing in Cilem at BSI Kencong. The research method employed is qualitative, utilizing literature review and customer testimonial analysis. Data was gathered from various sources, including official BSI publications, Islamic investment literature, and customer reviews. The findings reveal several key factors driving public interest in Cilem investments. Firstly, the competitive profit potential is a major attraction, supported by expertise in investment management and diversification across safe Sharia-compliant instruments. Secondly, the security and trust provided by BSI Kencong, overseen by the Financial Services Authority and the National Sharia Board of MUI, instill confidence in customers. Thirdly, adherence to Islamic principles is crucial, evidenced by Sharia certification from the National Sharia Board of MUI. Additionally, ease of access and transactions play a significant role. BSI Kencong offers various channels including branches, the BSI Mobile app, website, and agents, enhancing customer convenience. Friendly and professional service from BSI Kencong staff adds to customer comfort and satisfaction. Active promotion and education efforts by BSI Kencong increase public awareness and understanding of Cilem products. Positive testimonials from investors demonstrate real benefits, encouraging prospective customers to participate. Lastly, the desire to support the growth of Islamic economy in Indonesia further strengthens public interest in Cilem investments. In conclusion, the combination of factors such as profit potential, security and trust, Sharia compliance, ease of access, professional service, promotion and education, positive testimonials, and support for Islamic economy collectively create a compelling attraction for the public to invest in Cilem products through BSI Kencong.

FORMULATION OF FINANCIAL STATEMENT OBJECTIVES AND THE CONCEPT OF ISLAMIC BUSINESS ENTITIES OF NON-FINANCIAL COMPANIES

Accounting is a cultural product, so the concepts developed in accounting are never separatedfrom the cultural values in which accounting grows and develops. Islam has values that are different from capitalist values. Islamic values in economic life known as the Hall Mark of Islamic Economics. The concept of the objective of financial statements and the concept of corporate entities are fundamental in the development of accounting. These two concepts form the basis for determining the material components of the company's financial statements. The formulation of the concept of the objectives of the financial statements and the concept of the accounting entity cannot be separated from the desired or prevailing social values of society. In Islamic values, the hall mark values of the Islamic economy become the basis for the formulation of the concept of the objective of financial statements and the concept of corporate entities.

Perkembangan Ekonomi dan Keuangan dalam Islam: Inspirasi dari Khulafaur Rasyidin

Islamic economics is the response of Islamic scholars to the economic challenges of their time, which is closely related to the Koran and hadith. Islamic economics is also a social science whose Islamic values ​​influence all of society's economic activities. Islamic economics is part of every aspect of life which is based on four sciences, namely the Al-Quran, Sunnah, Ijma', and Qiyas. This discusses a very inclusive way of life. The aim of this research is to describe the history of public policy and the development of Islamic political economy during the time of Khurafaur Rasyidin. Based on the results of this research, Khulafaur Rasyidin's leadership period consisted of four levels of leadership. The first economic policies implemented during the Khurafaur Rasyidin era were during the Abu Bakr era, the second during the reign of Umar bin Khattab, and the third during the reign of Uthman bin Affan, and finally during the reign of Ali bin Talib. Regarding his leadership, several activities were carried out, namely establishing Baitul, shopping centers, distribution of welfare, pension funds, soldiers' salaries, as well as distribution and collection of zakat to Muslim and non-Muslim communities. All of these activities can help develop the country's economy and improve people's living standards. The method used in this research is the library research method. The data collection technique is to conduct a literature review study regarding the problem to be solved. Keywoards: Public Policy; Islamic Economics; Khulafaur Rasyidin

Maqāṣid Sharīah Paradigm in Wealth Preservation and Regional Stability Through Local Currency Protection within ASEAN

The use of Local Currency Settlement (LCS) which was decided at the conclusion of the 42nd Asean Summit in Labuan Bajo is a policy that will facilitate trade transactions between Asean countries and can increase the use of each country's local currency and reduce dependence on the US dollar. The purpose of this study is to find out and describe why Indonesia encourages ASEAN countries to use the LCS in the region and to analyze the results of the 42nd Asean Summit in the perspective of maqāṣid sharīah through the concept of hifẓ al-māl (wealth preservation). The design used in this study is a literature review and field research. A literature review study is a method applied to collect data or sources related to a particular topic which can be obtained from various sources such as journals, books, the internet and other literature. While field research by adding interviews with Islamic economists or academics or religious and government leaders. The results of this study indicate that Local Currency Settlement (LCS) agreements can realize economic independence and stability in the ASEAN region through the ease and efficiency of settlement of transactions carried out bilaterally and regionally by using each country's local currency and increasing trade, investment, and other transactions between Asean Countries. The agreement in the LCS policy is in line with the basic principles of maqāṣid sharīah through hifẓ al-māl which also implements the qiyām or qawām system (balance within self, family and society) in protecting wealth so as to achieve independence and economic stability in a broader scope both nation, state, region and globally.

Improving Literacy of Fiqh Muamalah and Islamic Economics Through Community-Based Research Method

This KKNT was held in the month of Ramadhan 1445 H on 16-30 May 2024 in collaboration with the management of Al Istiqamah Mosque (BKM) in the BDSN complex Tangga Batu 1 Village, Kec. Permaksian, Kab. Toba, North Sumatra. Based on prior observation, research, and interviews, several problems were identified namely the lack of literacy in fiqh muamalat knowledge and the lack of teachers who teach children the subject of Arabic language, tahsin and tahfidh and the Koran. These problems need to be resolved by conducting programs. The method used was community-based research (CBR). The result of this community service shows that the number of communities who attended the sermons was still below expectations while the participation and enthusiasm of children in the subjects of Arabic language, tahsin and tahfidh, and the Koran was very high. This community service is expected to enhance the community literacy of fiqh muamalah and Islamic Economics. It is suggested that community awareness in learning religious knowledge must be improved to increase their participation.

Peranan Zakat dalam Pembangunan Ekonomi

Economics problems such as poverty and unemployment are still the main problems in Indonesia. Zakat as part of a redistributive instrument in Islamic economics is expected to be able to develop the economy and solve various economic problems. This research aims to examine the role of zakat in economic development. This research was library research. The results of this study explain that zakat can solve the problem of poverty, zakat can support a country’s economic growth, zakat can create economic policy, and zakat is an Islamic value system.

Integrating Behavioral Economics In-sights in Development Programs: The Case of the World Bank Group Model

The study aims to discuss the concept of behavioral economics, identify its connections with Islamic economics, and explore mechanisms for employing behavioral economics insights in development efforts. It presents a proposed framework for integrating behavioral economics perspectives into the operations of the Islamic Development Bank Group. To achieve the study's objectives, a descriptive-analytical approach was employed, examining various international experiences in integrating behavioral economics into development programs, with a focus on the experience of the Behavioral Economics Unit at the World Bank Group. The study's results confirm the importance of leveraging behavioral economics insights and their practicality in development efforts. They contribute effectively to understanding human behavior, motivating desired behaviors and choices, enhancing the efficiency of development policies, and maximizing their impact. The study recommends that the Islamic Development Bank Group enhance its developmental policies by establishing a Behavioral Economics Department within the Economic Empowerment Program.

Methodological Procedure for Determining the Fatwa of the National Sharia Council (DSN) Indonesian Ulama Majelis (MUI) Concerning Islamic Economics and Finance

<p><em>Religious fatwas related to sharia economics and finance have great urgency and benefits for sharia economic and financial actors. The Qur'an and Hadith require detailed and analytical interpretation to explain the problems that arise, especially regarding zanni propositions. Fatwas issued by Islamic religious experts play an important role in responding to contemporary problems in accordance with social, scientific and technological developments. This research uses a normative legal approach with library research methods. This approach includes a study of the DSN-MUI Manhaj al-Ifta procedures and Manhaj al-Ifta which are the basis for determining fatwas related to sharia economic and financial issues. The DSN-MUI fatwa must comply with correct procedures and methodology (Al-Manhaj), avoid excessive (Ifrathi) and reckless (Tafrithi), and follow two main approaches: gradual (Tadriji) and voluntary (Tathawwu'i), and use a fiqh that provides solutions (Makharij Al-Fiqhiyyah). The principles of Manhaj Al-Ifta DSN-MUI include Taysir Al-Manhaj, Tafriq Al-Halal 'an Al-Haram, I'adat Al-Nazhar, and Tahqiq Al-Manath. Taysir Al-Manhaj emphasizes ease within the limits of legal rules, while Tafriq Al-Halal 'an Al-Haram separates the halal from the haram. I'adat Al-Nazhar revises the views of previous scholars which are no longer relevant, and Tahqiq Al-Manath emphasizes the analysis of the causes ('Illah) of law in a changing context. The DSN-MUI fatwa was made through Ijtihad Jama'i which involved various ulama and experts from various fields to ensure the honesty and truth of the fatwa. In this way, the DSN-MUI fatwa can meet the needs of sharia economic actors, provide solutions, and remain based on strong sharia.</em></p>

Consequences of Interdependence in Public-Private Joint Ventures: The Moderating Role of Sharīʿah in Islamic Economies

Consequences of Interdependence in Public-Private Joint Ventures: The Moderating Role of Sharīʿah in Islamic Economies