Islamic Economic Philosophy Research Articles

ISLAMIC ECONOMY PHILOSOPHY IN KINALIZADE ALI ÇELEBI PERSPECTIVE

Kinalizade Ali Çelebi was a prominent scholar of the Ottoman Empire. During that time, he taught in several schools and served as a magistrate in a number of administrative centers. Kinalizade Ali Çelebi was a multifaceted scholar who contributed to science and published works on philosophy, religion, Sufism, ethics, history, language, and literature. Kinalizade Ali Çelebi's book, Ahl al-'Alaī, provides a comprehensive discussion of Islamic ethics and economics. Other works, however, have persisted to the present day in the form of manuscripts that have not been subjected to scientific investigation. This report aims to inform future research on the critical edition and publication of Kinalizade Ali Çelebi's manuscripts. This paper will help promote Kinalizade Ali Çelebi's philosophical work. This qualitative descriptive research analyzes Kinalizade Ali Çelebi's thought and related material. This paper explores the foundations of Kinalizade Ali Çelebi's Islamic Economic Philosophy

Filsafat Ekonomi Syariah Sebagai Landasan Sistem Ekonomi Syariah Bagi Pendidikan Umat Islam

The Islamic economic philosophy is based on the interconnectedness of God, Man (Cosmic), and Nature (Cosmos), and is directed towards financial tasks such as economic principles, consumption, production, sales, and economic development. In Indonesia, the development of Islamic economics is influenced by internal and external factors. The key principles of Islamic economics in Indonesia are Tawhid, Maslahah, and Fair, which emphasize the relationship between humans and God, and humans and nature based on the principles of sharia. The country has also developed a masterplan for Islamic economic development, focusing on areas such as strengthening the halal value chain, the Islamic financial sector, and micro, small, and medium enterprises

Economic Philosophy as the Existence of the 5.0 Era Development in Sharia and Conventional Banking

With digital transformation and progress in technology, the 5.0 era has a huge impact on the industry of Islamic and conventional banking. Understanding the existence of Islamic and conventional banking in the 5.0 era relies heavily on economic philosophy. This study aims to understand the role of economic philosophy in maintaining and developing Islamic and conventional banking in the 5.0 era. This study used a descriptive analysis approach, and the data were collected from literature and other relevant sources. Conventional banking, on the other hand, relies on the philosophy of economy neoclassical, which focuses on the development products and services. Islamic and conventional banking are influenced by progress technology and digital transformation in the 5.0 era. Application mobile banking, digital payments, data analytics, artificial intelligence, and blockchain technology are several examples of very important technology or facing challenges and exploiting opportunities in this era. However, in the era of 5.0, economic philosophy is also challenging to apply in Islamic and conventional banking. Conventional banking can notice the difference between the social and financial aspects, but Sharia banking must consider current principles to integrate technology. Sharia and conventional banking need to keep going and develop relevant digital products and services, strengthen regulation and supervision, and guarantee security and privacy of customer’s information. Research results show that good Sharia banking as well conventional are based on economic philosophy. Islamic banking relies on philosophy of Islamic economics, which focuses on principles like prohibition of usury, justice, and sustainable environment.
 Keywords: philosophy, economics, Sharia, conventional

Perekonomian Pada Masa Al-Khulafa Al-Rasyidin

Abu Bakar Ash-Siddiq was one of the Prophet's four companions who rose to prominence as Khulafaur Rasyidin's commanders. Ali bin Abi Talib, Umar bin Khatab, and Uthman bin Affan. Like the development of Islamic economic philosophy, the economic policies of the Rashidun Khulafah are discussed from start to finish. Customs, taxes, zakat, and money printing. During the Rasyidin Khulafah period, the Baitul Maal was built, diwans were made, and other commercial activities took place. to observe and understand the system's progress. This article, which examines Islamic economic policies during the Rasyidin Khulafah era, was composed by employing a method of literary observation drawn from certain publications.

Islamic Economic Practices in Indonesia

As the country with the largest Muslim population in the world, Indonesia has great potential in the halal industry. However, research on symbols in Indonesia’s Islamic philosophy and economic history is still far behind that of other countries. Therefore, efforts are needed to improve its study. This research aims to describe and understand the importance of the symbol in the philosophy and history of Islamic economic practices in Indonesia. The findings of this qualitative research, conducted in Indonesia, have practical implications for the halal industry and Islamic economic practices. Data was collected by conducting observations, in-depth interviews, and documentation. Data analysis is carried out by reducing data, presenting data, and giving meaning to the data that has been collected, and from that meaning, conclusions are drawn. This research has concluded that the essence of the Islamic economic process in Indonesia is an effort to fulfill the needs of the Indonesian people based on Islamic values to achieve happiness in the world and the hereafter. The Islamic economic system has become a phenomenon that is the object of the study of Islamic economic philosophy in Indonesia today. The urgency of Islamic economic philosophy in the context of Indonesian Muslim society can be found at the level of implementation. Islamic economic practices have become a way of life for the people of Indonesia. The main principle of Islamic economics holds fast to the concept of tawhid. Many things can be learned from the Islamic economy in Indonesia, ranging from the rules of legal buying and selling, lending and borrowing with legal contracts, and investment in Islam to the prohibition of usury, avoiding things that are haram, injustice, and usury. The Islamic economic system has proven to be beneficial for all people, both Muslims and non-Muslims.

FILSAFAT EKONOMI ISLAM : PENDEKATAN SISTEM EKONOMI ISLAM, NILAI-NILAI DASAR, DAN INSTRUMENTAL

Islamic economic philosophy is the basis of an Islamic economic system which is based on Islamic teachings in achieving its goals. This article will outline the philosophical foundations of the Islamic economic system, explore the fundamental values that form the basis of Islamic economics, such as justice, togetherness, and blessing, and identify various economic instruments. The research method used is literature study and several other references. Islamic economic philosophy considers humans not as the center (anthropocentrism) but as servants of God who must serve and carry out the duties given by Him as managers (khalîfah). Therefore, in economic activities, it is very important to uphold the values of ownership, justice, freedom, balance, brotherhood and unity in accordance with religious teachings in order to form a harmonious order in personal, social and state life.

INCREASE IN PRICES OF STAPLES IN THE MONTH OF RAMADAN IN THE PERSPECTIVE OF ISLAMIC ECONOMIC PHILOSOPHY

Purpose- The objective of this research is to analyze the phenomenon of the increase in prices of basic commodities during Ramadan from the perspective of Islamic economic philosophy. This study aims to understand the factors influencing price hikes, their impact on society, and to find solutions in line with the principles of Islamic economics to address the issue. Methodology- This research utilizes a qualitative and descriptive approach. Data will be collected through literature review, document analysis, and interviews with Islamic economics experts. Data analysis will be conducted using deductive and inductive approaches, while referring to relevant Islamic economic principles. Findings- Based on this study, it was found that the increase in prices of basic commodities during Ramadan can be attributed to several factors. One of the main factors is the high demand due to increased consumption during the fasting month. Additionally, other factors such as price speculation, changes in consumer behavior, and supply disruptions can also contribute to price hikes. The impact of the price increases of basic commodities during Ramadan is strongly felt by the society, particularly those with low incomes. The price hikes can lead to economic difficulties, social instability, and increased economic disparity within the community. This contradicts the principles of Islamic economics that emphasize justice, sustainability, and concern for the welfare of society. Conclusion- Based on this research, it can be concluded that the increase in prices of basic commodities during Ramadan, from the perspective of Islamic economic philosophy, is a complex issue that requires solutions aligned with the principles of Islamic economics. Potential solutions include enhancing market transparency, reducing price speculation, promoting local production, encouraging active participation of the community, and strengthening mechanisms for fair economic redistribution. Implementing Islamic economic principles such as justice, sustainability, and social welfare can help address the issue of price hikes during Ramadan and create a more stable and sustainable economy. In this context, the role of the government, Islamic financial institutions, and society at large is crucial in working together to address this problem and ensure equitable economic well-being for all segments of society. Keywords: Increase in prices, basic commodities, Ramadan, Islamic economic philosophy, price hikes JEL Codes: D40, E31, P48

REDESIGNING ISLAMIC TRANSFORMATIONAL LEADERSHIP FOR MUSLIM MINORITIES IN THE WEST

Islam is a comprehensive religion that does not discuss one aspect of knowledge but covers all aspects, including leadership. Islamic leadership must be based on the pillars of Islam, namely the Qur'an and Hadith. Islamic leaders must work towards a vision to create a just society where the rule of law is upheld among all believers and non-believers. In the context of Islam in Western countries, leadership faced many challenges during the early years of the 21st century. These challenges can come from internal organizational challenges, such as social, cultural, and structural challenges. However, challenges arise from external contexts, such as social, cultural, legal, and political. In Islamic economic philosophy, the leadership model that is considered ideal is one based on fair and ethical leadership principles. This qualitative research aims to explain and redesign the transformational leadership theory with Islamic leadership. The study results are four characteristics that can influence transformational Islamic leadership: government pressure, media hostility, international politics, and a legal system. The impact of international politics unites the Muslim population to some extent. Australia's Muslim population hails from many countries, including a significant group born and raised in Australia. As a result, the Muslim population in Australia is a minority in an international context.

Economic agency of women in Islamic economic philosophy: going beyond Economic Man and Islamic Man

PurposeThe purpose of this paper is to provide a gender-sensitive analysis of economic agency in Islamic economic philosophy.Design/methodology/approachA critical review of classical ethics literature and the concept of khilafah is undertaken and discussed in conjunction with the current understanding of homo Islamicus.FindingsBuilding on the principles of khilafah, the concept of homo Islamicus is a pious stand-in for the flawed homo economicus. Among its flaws is the complete absence of a discussion of women as economic agents. To remedy this the discipline must acknowledge explicitly the denial of women and gender from the discussion of moral agency and include gender as a category of analysis for economic agency. This is only possible by: (1) introducing a non-patriarchal reading of khilafah as the model of agency and (2) by operationalising taqwa as the cardinal virtue of the economic agent instead of neoliberal rationality.Research limitations/implicationsIf Islamic economic philosophy is to contend as an alternative mode of economics, it must consider gender and class dimensions in its micro-foundation discussion, economic agency is one of them.Originality/valueThis study reveals the patriarchal readings that are part of the foundation of the concept of the economic agent in Islamic economics, problematising it and providing a gender-sensitive concept of economic agency.

FILOSOFI EKONOMI ISLAM DAN IMPLEMENTASINYA DALAM PERBANKAN SYARIAH: PERSPEKTIF MASYARAKAT UMUM

Islamic economics is a system of economics based on the values and principles of Islam. This system aims to achieve the welfare of society in general, both materially and spiritually. Islamic banking is one of the instruments of Islamic economics that plays an important role in achieving this goal. This study aims to examine the philosophy of Islamic economics and its implementation in Islamic banking from the perspective of the general public. This study uses a qualitative method with interviews as a data collection technique. The results of the study show that the general public understands that Islamic banking has a different philosophy than conventional banking. The general public also understands that Islamic banking applies Islamic principles in its operations, such as the principles of justice, equality, and prudence. This study concludes that the philosophy of Islamic economics and its implementation in Islamic banking have the potential to be accepted by the general public. This is because the philosophy and principles of Islam that underlie it are in line with the universal values that are believed by the general public.

Aktualisasi Falsafah Ekonomi Islam Sebagai Soko Dalam Membangun Kesejahteraan

Islamic economic theory is not a new theory that is derived to underlie the existing economy. Historically, Islamic thinkers are the founders of all branches of knowledge, including economics. This is recognized by Islamic economists that since 367-322 BC they read a lot of Aristotle's works as a philosopher who wrote a lot about economics, but Islamic economists think about economics based on the Al-Quran and al-Hadith. This study aims to explore the basic thoughts and reflections on the philosophy of Islamic economics which is oriented towards raising the welfare of mankind which avoids usury practices that are contrary to the mission of the Koran and al-Hadith concerning the economy, as a basis for bringing up human welfare that is clean from usury practices.

Esensi Ilmu dalam Filsafat Ekonomi Islam

The life of the world today is controlled by two major powers, namely the economy and faith (religion). Economic life becomes the standard of living of a nation-state. Even the superiority of a country is measured based on the level of economic progress and the measure of the degree of success becomes very materialistic. Behind this, a new phenomenon has arisen showing that economic power is no longer focused on material strength alone, but seeks ways that economics can unite with ethical and spiritual forces or known as integrative business ethics and spirituality. The essence of knowledge in Islamic economic philosophy has a more substantial nature and is different from other economic views. The basis of truth believed by Islamic economics (fiqh muamalah) is based on what is described in the revelation (al-Quran and Hadith) so that the manifestation of the objectives of Islamic economics will appear as a system that saves all aspects of human life both in the frame of individual ownership rights as well as in the goal is to prosper many people

Islamic Economic Literacy: A Paradigma Economic Thought In Indonesia

The author aims to find out the relationship between Islamic economic philosophy and developing economic ideology. The author tries to put forward the relationship between Islamic economic philosophy and the Pancasila ideology as the foundation of the nation. The method research used descriptive qualitative method by a literature study and a normative phisopic. The results of the analysis of this paper suggest that the post-sila economy has aspects in common with the principles of Islamic economic values, namely; the first precept with at-Tawhid, the second with al 'Adalah , the third precept with Ukhuwwah , the fourth precept with Musywarah and the fifth precept with Falah .

Analysis of Professional Specialization in the Perspective of Islamic Economic Philosophy

The study's goal was to define the concept of work professionalism in Islamic economics and to determine the characteristics of professional Muslims in the workplace. The library is the primary location for research. Information is gathered by library research, more specifically by amassing texts on Islamic economics that take a stance on the professionalism of the workplace. Content analysis is used in the methodology for analyzing the data, which is subsequently selected, displayed, and processed in depth. The results show that the idea of professionalism in the workplace in Islamic economics can be seen as the attitude of always taking one's work seriously. Working hard, working full time, exercising discipline, being honest, having strong loyalty, and dedicating oneself totally to one's work are all components of this philosophy. Both ihsan and itqon (professionalism) are highly commended in Islam. Muslims are encouraged by their faith to work in a wide variety of professions and locations. Since Muslims view their job as a religious act, they always put up their best effort, which is congruent with characteristics of a disciplined work ethic. In the context of Islamic economics, there are three primary traits that indicate whether or not a Muslim is professional in their line of work: professional (kafa'ah), as evidenced by skill in one's chosen field; dedicated to one's work; and appreciative of the opportunities afforded by one's vocation. Trust, which is shown in a responsible and trusted attitude when executing each work or obligation, is a blessing from Allah SWT and a prerequisite for its honest and grateful operation. Knowledgeable performance; this is what the Arabic word kafa'ah refers to. According to the Islamic ideals taught by Nabiyullah Muhammad SAW, the virtues of honesty (shiddiq), accountability (amanah), a communicative nature (tabligh), and intelligence (nature) can serve as a basis for professional growth (fathanah).

THE CONCEPT OF HUMAN BEHAVIOR IN A REVIEW OF ISLAMIC ECONOMIC PHILOSOPHY

Human behavior is formed from the way he thinks. There are two dominant ideologies of human thinking today, the ideology of capitalism which is the dominant ideology throughout the world and is the benchmark for the actions of the majority of society. The separation of religion from life is the principle that gave rise to this ideology. Meanwhile, the ideology of socialism, even though it has experienced an era of destruction, is still being fought for by its fanatical followers. This ideology emerged from the concept of materialism. Concern and worry, perhaps two words that should be said relate to the behavioral problems that plague humanity today towards human behavior. For this reason, this study will try to unravel how the concept of human behavior in a review of Islamic economic philosophy uses descriptive qualitative research using secondary data. The results of this study describe that humans have a tendency to behave well or behave badly. There is a negative element in the soul in the form of lust (al-ghadhab and al-syahwat), so that humans have good behavior they must use reason to grasp al-hikmat, both al-hikmat al-'ilmiyyat al-nazhariyyah (theoretical wisdom) which is captured by reason theoretical and also al-hikmat al-khuluqiyyat (practical wisdom). These two balances (al-hikmat) become the control of al-ghadhab and al-lust.

Measuring Sustainable Performance of Islamic Banks: Integrating the principles of Environmental, Social and Governance (ESG) and Maqasid Shari’ah

To fulfil the Maqasid Shari’ah of Islamic banks in promoting the welfare of society, Islamic banks are expected to consciously align their performance measurement according to the principles of Islamic banks that are derived from Islamic economic philosophy. In the meantime, in light of the agenda of Sustainable Development Goals (SDG) 2030, the principle of environment, social and governance (ESG) has become part of the sustainability reporting and become a central concern of the investors. The tenets of ESG and Islamic finance basically intersect and share similar principles of responsibility, accountability, and stewardship in providing protection and benefits to the environment and humankind as a whole which is in line with the principle of Maslahah in the Maqasid Shari’ah. Hence, there is ample room for the ESG element to be harmonized with the Maqasid Shari’ah elements in a holistic performance measurement index of Islamic banks. Therefore, the performance of Islamic banks can be measured in a more holistic approach by combining financial and non-financial performance with the ultimate objective of Islamic banks being sought as the primary reference, and the sustainability issue can be well addressed. This paper reviews the previous literature on the performance of Islamic banks, ESG principles in the context of Islamic banks and the Maqasid Shari’ah performance index that has been developed by previous researchers. Fulfilling Maqasid Shari’ah and sustainability agenda in the performance measurement index would further strengthen the performance of Islamic banks in the effort to maintain Malaysia as the leader in the regional and world Islamic financial hub.

Monkey Business Practices on The Selling of “Janda Bolong” Plants in Indonesia: A Review of Islamic Economic Philosophy

<p>The sale and purchase of the “Janda Bolong” plant which was busy in the midst of the Covid-19 pandemic at a very fantastic price, which was then suspected to contain monkey business practices. So this study aims to describe a review of the Islamic economic philosophy of monkey business practices in the “Janda Bolong” plants sale and purchase transaction. The research method used is a qualitative research method with the type of library research using a deductive approach. The results of this study indicate that the practice of buying and selling that occurs in the object of the plant “Janda Bolong” is a type of monkey business with objects that are not commonly practiced. The “Janda Bolong” plant sale and purchase transaction contains a <em>fasid</em> (damaged) contract, where the contract is in accordance with the Sharia but in the nature of the contract there is a problem. The price formation process that occurs in it is also unfair, so it is not in accordance with Islamic law. In Islamic economic philosophy, the practice of monkey business in buying and selling the “Janda Bolong” plant is not allowed. Because it denotes the essence of the creation of humans on earth, namely as a caliphate by processing the available resources in order to achieve happiness in this world and the hereafter.</p>

The Rasulullah's Way of Business: as the Best Example for Student

Doing business is one way to earn sustenance. As in a hadith Rasulullah PBUH states that ninety percent of sustenance lies in business, while the remaining ten percent is livestock. The point is that doing business will open nine doors to get wealth, while another door of sustenance is opened by breeding this shows how important business is in meeting the needs of human life, from the material side. Because ninety percent of the income obtained comes from business. A successful business cannot be separated from several things, one of which must be done based on trust, related to ethics, and related to profit. In practice, doing business according to Islamic law has been carried out by the Prophet Muhammad as a guide for Muslims, so that if a businessman does business according to the teachings of the Prophet, it is the same as carrying out the sunnah of the Prophet Muhammad. More and more entrepreneurs are implementing the behavior of the Prophet in their business, including customer-oriented by maintaining customer satisfaction, openness to customers by applying honest aspects of commerce, conducting healthy competition in the economic market, must pay attention to aspects of justice so that no party is oppressed. Feel disadvantaged when doing business. This study aims to determine the correct implementation of business based on the teachings of the Prophet Muhammad and examine the messages conveyed by the Prophet Muhammad on the aspect of muamalah. This research uses a descriptive qualitative research method with secondary data or library research. Islamic business behavior that is free of usury (interest), gharar (uncertainty), and maysir (gambling) is considered better because of the value requirements. Therefore, extracting the values ​​of Islamic economic philosophy through the business behavior of Muhammad SAW is expected to be a solution for today's business behavior.

KONSEP MURABAHAH DALAM DIKTUM FILSAFAT EKONOMI ISLAM

This article explores the concept of murabaha, in the dictum of Islamic economic philosophy. Murabahah is a form of sale and purchase in which the seller offers his merchandise by stating the price which is the sum of the acquisition price by adding a certain amount as profit. The focus of the discussion here is how a transaction is said to be murabaha? How are the instructions of the Qur'an and hadith regarding murabaha? How is the dictum of Islamic economic philosophy against murabaha? The research method used is literature, and other related references. This article provides a final review that the concept of murabahah by implementing it based on tauhid, justice and maslahah because obeying the instructions of the Qur'an and hadith is an obligation for every Muslim convert. It would be better if someone understands trading as an art as well as worship and kindness, so that it becomes motivation and passion for the perpetrators.

Sharia Philosophy Correlation and the Islamic Economic Philosophy

This study aims to reveal the relationship between Islamic philosophy and Islamic economic philosophy, both in terms of foundation, operation, and objectives. This library research (Library Research) uses documentation data collection techniques with data analysis, namely content analysis. The results showed that the relationship between sharia philosophy and sharia economic philosophy is that there is a philosophical foundation based on al-qur'am, hadith, ijma 'and qiyas, as well as operational principles, observations are made, take generalization conclusions and serve as theory, while the goal is both want to get happiness in the world and the hereafter, but what distinguishes the two lies in the broader study of sharia philosophy and complexity, while Islamic economic philosophy specializes in sharia economic studies. But for sharia economic philosophy discusses tauhid, caliphate, tazkiyah, and masuliyya. Operational principles, observing, drawing conclusions and making theory. The goal of obtaining falah, namely survival, freedom of desire, and strength and honor.