Journal of Islamic Economics and Finance
Journal Title : Journal of Islamic Economics and Finance ISSN : 3109-7316 DOI Prefix : 10.64845 by Crossref Editor in Chief : Dr. Fatmawati Sungkawaningrum S.Si, M.S.I. Managing Editor : Diandra Zivana Publisher : Athallah Publishing Globalindo Frequency : 2 issues per year (Juni and December) Citation Analysis : Google Scholar|Dimension|Morare Journal of Islamic Economics and Finance is an academic journal that accommodates scientific works containing thoughts, empirical studies, and research results on the themes of Islamic economics, Islamic finance, and Islamic business. Journal of Islamic Economics and Finance is published by the independent institution Atha Publishing Globalindo with the aim of becoming a forum for discussion and publication of research results by academics, researchers, and practitioners on the topics of Islamic Economics, Islamic Banking, Islamic Finance, and issues within the scope of developing countries. These topics can be observations of contemporary economic phenomena that highlight problems of the economic system, regulations in Islam, and other topics related to this field.
The Effect of the Total Financing Value and Business Turnover on the Smooth Return of Murabahah Financing in MSMES in PT. Bank Muamalat KCP Cirebon
Financing activities in Islamic banking require proper management due to the risk of repayment default by customers. The amount of financing and business turnover are assumed to influence the ability of MSME customers to fulfill their payment obligations. This study aims to analyze the effect of financing amount and business turnover on the smooth repayment of murabahah financing among MSME customers at PT. Bank Muamalat KCP Cirebon during the 2013–2022 period. This research employs a quantitative method with a saturated sampling technique consisting of 71 data points, analyzed using logistic regression, Wald test, t-test, F-test, and coefficient of determination through IBM SPSS 23. The results indicate that, simultaneously, the financing amount and business turnover have a significant effect on the smooth repayment of murabahah financing.
Copyright (c) 2026 Muhammad Syahrul Adim, Siti Rohana (Author) https://creativecommons.org/licenses/by/4.0
Transformasi Pola Konsumsi Generasi Z: Peran Pendapatan Orang Tua dan E-Commerce pada Mahasiswa Fakultas Ekonomi dan Bisnis UIN Cirebon
Perubahan pola konsumsi mahasiswa lebih banyak terkait dengan intensitas pemanfaatan platform digital daripada perbedaan tingkat pendapatan orang tua. Penelitian ini bertujuan menguji hubungan antara dukungan ekonomi keluarga dan penggunaan e-commerce dengan perubahan pola konsumsi mahasiswa generasi Z di Fakultas Ekonomi dan Bisnis Islam UIN Siber Syekh Nurjati Cirebon. Penelitian menggunakan metode pendekatan kuantitatif eksplanatori. Data primer diperoleh melalui kuesioner yang disebarkan kepada 139 responden yang dipilih dengan teknik proportional random sampling. Data kemudian dengan analisis regresi linear berganda, uji t, uji F, dan koefisien determinasi. Analisis difokuskan pada pendapatan orang tua sebagai faktor ekonomi keluarga dan penggunaan e-commerce sebagai faktor digital yang diduga memengaruhi kebiasaan konsumsi mahasiswa. Hasil penelitian diharapkan dapat menjadi bahan evaluasi bagi mahasiswa, keluarga, dan institusi pendidikan dalam mendorong perilaku konsumsi yang lebih rasional dan bertanggung jawab.
Copyright (c) 2026 Muhammad Akmal Izzudin, Syaeful Bakhri , Achmad Otong Bustomi (Author) https://creativecommons.org/licenses/by/4.0
Praktik Hutang Piutang Masyarakat Perspektif Ekonomi Syariah: Studi Kualitatif di Kabupaten Aceh Tenggara
Penelitian ini menganalisis praktik hutang piutang masyarakat Kabupaten Aceh Tenggara dalam perspektif ekonomi syariah. Menggunakan pendekatan kualitatif studi kasus, data dikumpulkan melalui wawancara mendalam dengan 15 informan, observasi partisipatif, dan dokumentasi. Hasil penelitian menunjukkan bahwa praktik hutang piutang telah membudaya dengan mekanisme informal berbasis kepercayaan tanpa pencatatan. Dari perspektif ekonomi syariah, praktik ini bersifat paradoksal: di satu sisi masih terdapat praktik al-qardh al-hasan antar kerabat, namun di sisi lain praktik riba melalui pemberian "uang lelah" marak terjadi. Faktor penyebab ketidaksesuaian syariah meliputi keterbatasan akses lembaga keuangan formal, konstruksi sosial-budaya yang melegitimasi imbalan, pemahaman keagamaan parsial, dan lemahnya regulasi. Dampak yang ditimbulkan mencakup Siklus Kemiskinan, Konflik Horizontal, dan Tekanan Psikologis. Penelitian ini merekomendasikan penguatan literasi keuangan syariah berbasis komunitas, pengembangan lembaga keuangan mikro syariah, harmonisasi Norma Adat dengan syariah, serta penguatan peran pemerintah daerah.
Copyright (c) 2025 Farma Andiansyah (Author) https://creativecommons.org/licenses/by/4.0
Determinants of Interest in Accounting Students for a Career in Sharia Financial Institutions
This study aims to analyze the influence of sharia accounting knowledge, job market considerations, financial rewards, and religiosity on the interest of accounting students to have a career in Islamic financial institutions. This study uses a quantitative approach with primary data obtained through the distribution of questionnaires to 89 students of the Accounting Study Program, Faculty of Economics and Business, Sultan Agung Islamic University, Semarang, class of 2022 and 2023. Data analysis was carried out using multiple linear regression processed through SPSS version 25. The results of the study showed that knowledge of sharia accounting and financial awards had a positive and significant effect on the interest of accounting students in a career in Islamic financial institutions, while job market considerations and religiosity had a positive and insignificant effect. This research can be developed by improving research instruments, especially in measuring religiosity variables, as well as adding other variables such as work environment and professional practice. Accounting students are expected to increase their understanding of sharia accounting and the value of religiosity as a career provision. Islamic financial institutions are advised to increase the attractiveness of the job market through transparency of career opportunities and employee competency development.
Copyright (c) 2026 Siti Nor Koidah, Indri Kartika (Author) https://creativecommons.org/licenses/by/4.0
Pengaruh Harga, Kualitas Pelayanan dan Kepuasan Pengguna Terhadap Loyalitas Pelanggan dalam Perspektif Manajemen Bisnis Syariah: Studi Pada Loin Sport Kota Bandar Lampung
Penelitian ini bertujuan untuk menganalisis pengaruh harga, kualitas pelayanan, dan kepuasan pengguna terhadap loyalitas pelanggan Loin Sport di Kota Bandar Lampung dalam perspektif manajemen bisnis Syariah. Metode penelitian menggunakan pendekatan kuantitatif dengan teknik survei. Sampel penelitian berjumlah 156 responden yang dipilih melalui purposive sampling dengan kriteria pernah membeli produk Loin Sport dalam enam bulan terakhir. Data dikumpulkan menggunakan kuesioner skala Likert lima poin dan dianalisis dengan Partial Least Squares-Structural Equation Modeling (PLS- SEM) menggunakan bootstrap 5.000 resamples. Hasil analisis menunjukkan bahwa harga (β = 0,347; p < 0,05), kualitas pelayanan (β = 0,361; p < 0,05), dan kepuasan pengguna (β = 0,282; p < 0,05) berpengaruh positif dan signifikan terhadap loyalitas pelanggan, dengan nilai R² sebesar 0,839. Hal ini membuktikan bahwa 83,9% variansi loyalitas pelanggan dapat dijelaskan oleh ketiga variabel independen. Temuan ini menegaskan bahwa penerapan prinsip keadilan (‘adl), kejujuran (ṣidq), dan amanah dalam strategi harga, pelayanan, serta peningkatan kepuasan konsumen tidak hanya memperkuat loyalitas pelanggan, tetapi juga menciptakan nilai etis sesuai dengan manajemen bisnis Syariah.
Copyright (c) 2026 Okta Supriyaningsih , Ulama Putra Loin (Author) https://creativecommons.org/licenses/by/4.0
Integrasi Maqāṣid al-Syarī‘ah dalam Pengembangan Industri Halal: Kerangka Perlindungan Konsumen dan Kesejahteraan Umat
Penelitian ini bertujuan menganalisis peran fundamental Maqashid Syariah sebagai kerangka teoretis dan operasional dalam pengembangan Industri Halal. Meskipun Industri Halal menunjukkan pertumbuhan pesat secara global, keberhasilannya perlu diukur tidak hanya dari kepatuhan regulasi (sertifikasi), namun juga dari kemampuannya mencapai tujuan luhur syariat Islam. Dengan menggunakan metode studi literatur kualitatif dan tinjauan kritis, artikel ini menginterpretasikan tiga dimensi Maqāṣid al-Syarī‘ah ke dalam ekosistem Industri Halal. Hasil analisis menunjukkan bahwa dimensi Hifz al-Din diwujudkan melalui proses sertifikasi dan peningkatan halal awareness; Hifz al-Nafs ditegaskan melalui penekanan pada konsep thayyib yang menjamin mutu, keamanan, dan kesehatan produk; sementara Hifz al-Mal diimplementasikan melalui kontribusi industri terhadap pertumbuhan ekonomi, penciptaan lapangan kerja, dan penegakan etika bisnis syariah. Penelitian ini menyimpulkan bahwa Maqashid Syariah berfungsi sebagai kerangka holistik untuk melindungi konsumen dan mendorong kesejahteraan umat. Direkomendasikan agar regulator (BPJPH) dan pelaku usaha memperkuat integrasi aspek thayyib dan etika bisnis syariah untuk memastikan Industri Halal bertumbuh secara berkelanjutan.
Copyright (c) 2026 Irsad, Rosdita, Dewi Fatmasari, Aan Jaelani (Author) https://creativecommons.org/licenses/by/4.0
Fintech Syariah sebagai Penggerak Pertumbuhan Industri Halal Nasional
Industri halal Indonesia menunjukkan pertumbuhan signifikan seiring meningkatnya permintaan produk dan layanan yang sesuai prinsip syariah. Namun, tantangan akses pembiayaan, literasi keuangan, dan efisiensi transaksi masih menjadi hambatan bagi pelaku usaha halal, khususnya UMKM. Fintech syariah hadir sebagai solusi inovatif melalui layanan pembiayaan syariah, pembayaran digital, peer-to-peer lending, dan manajemen keuangan berbasis teknologi. Artikel ini bertujuan untuk menganalisis peran strategis fintech syariah dalam memperkuat ekosistem industri halal nasional. Dengan menggunakan pendekatan kualitatif melalui studi literatur pada publikasi terkini serta analisis kebijakan, penelitian ini menemukan bahwa fintech syariah memiliki kontribusi penting dalam memperluas akses pembiayaan, meningkatkan efisiensi operasional, memperkuat transparansi transaksi, serta mendorong integrasi pelaku usaha halal dalam ekonomi digital. Integrasi antara inovasi teknologi dan prinsip syariah diharapkan menjadi motor penggerak bagi penguatan industri halal yang berdaya saing global.
Copyright (c) 2026 Azizan Sentosah Hutabarat, Muhamad Muztahidin, Dewi Fatmasari, Aan Jaelani (Author) https://creativecommons.org/licenses/by/4.0
Penguatan Ekosistem Industri Halal Nasional Berbasis Ekonomi Syariah
Industri halal telah berkembang menjadi salah satu sektor ekonomi global yang strategis seiring meningkatnya populasi Muslim dunia, kesadaran konsumen terhadap produk yang aman, etis, dan berkelanjutan, serta integrasi nilai-nilai syariah dalam aktivitas ekonomi modern. Dalam konteks tersebut, ekonomi syariah berperan sebagai kerangka konseptual yang tidak hanya mengatur aspek kehalalan produk, tetapi juga menekankan nilai keadilan, kemaslahatan, keseimbangan, dan keberlanjutan sebagai tujuan utama pembangunan ekonomi. Penelitian ini bertujuan untuk mengkaji konsep ekosistem industri halal dalam perspektif ekonomi syariah, menganalisis hasil-hasil temuan teoritis terkait faktor penguat dan penghambat pengembangan ekosistem industri halal nasional, serta membahas strategi penguatan ekosistem industri halal Indonesia secara berkelanjutan dan berdaya saing global. Metode penelitian yang digunakan adalah pendekatan kualitatif deskriptif melalui studi pustaka (library research) dengan memanfaatkan data sekunder yang bersumber dari buku, artikel jurnal ilmiah, serta dokumen kebijakan nasional seperti Undang-Undang Nomor 33 Tahun 2014 tentang Jaminan Produk Halal, Masterplan Ekonomi Syariah Indonesia, dan Masterplan Industri Halal Nasional 2023–2029. Hasil kajian menunjukkan bahwa ekosistem industri halal merupakan sistem terintegrasi yang mencakup sinergi antara pemerintah, lembaga sertifikasi halal, pelaku usaha, lembaga keuangan syariah, dan konsumen, dengan dukungan implementasi Halal Value Chain dari hulu hingga hilir. Faktor-faktor penguat ekosistem industri halal meliputi dukungan kebijakan pemerintah, penguatan regulasi dan sertifikasi halal, digitalisasi rantai pasok, serta kolaborasi lintas sektor, sedangkan faktor penghambat utama meliputi rendahnya literasi halal, keterbatasan sumber daya manusia, lemahnya integrasi rantai pasok, ketergantungan bahan baku impor, serta belum optimalnya koordinasi kebijakan lintas lembaga. Pembahasan menunjukkan bahwa penguatan ekosistem industri halal harus dilakukan secara komprehensif melalui integrasi kebijakan, pengembangan klaster industri halal, peningkatan literasi dan edukasi halal, penguatan pembiayaan syariah, serta pemanfaatan teknologi digital yang selaras dengan prinsip ekonomi syariah. Dari perspektif maqashid syariah, pengembangan industri halal tidak hanya berorientasi pada pertumbuhan ekonomi, tetapi juga pada pencapaian kesejahteraan sosial, keadilan, dan keberlanjutan. Dengan demikian, penguatan ekosistem industri halal nasional diharapkan mampu mendorong Indonesia menjadi pusat industri halal dunia yang kompetitif, berintegritas, dan berlandaskan nilai-nilai ekonomi syariah.
Copyright (c) 2026 Dimas Fadilah, Eva Pelitawati, Aan Jaelani, Dewi Fatmasari (Author) https://creativecommons.org/licenses/by/4.0
Strategi Meningkatkan Daya Saing Produk Halal di Pasar Global: Membangun Ekosistem Digital dan Integritas Rantai Nilai
Pertumbuhan pasar halal global menunjukkan peningkatan signifikan dan menjadi salah satu sektor ekonomi yang paling prospektif. Namun, daya saing produk halal Indonesia masih menghadapi sejumlah tantangan mulai dari kompleksitas sertifikasi halal internasional, lemahnya pemanfaatan teknologi digital oleh UMKM, hingga keterbatasan transparansi dalam rantai pasok. Penelitian ini bertujuan merumuskan strategi untuk meningkatkan daya saing produk halal di pasar global melalui penguatan ekosistem digital dan integritas rantai nilai halal. Penelitian ini menggunakan metode Systematic Literature Review (SLR) dengan mengkaji jurnal bereputasi dalam rentang 2020–2025 untuk mengidentifikasi strategi yang efektif dalam aspek sertifikasi, digitalisasi pemasaran, serta penguatan Halal Supply Chain Management yang terintegrasi teknologi blockchain. Temuan penelitian menunjukkan bahwa daya saing produk halal tidak hanya ditentukan oleh status kehalalan, tetapi juga transparansi proses produksi, penerapan standar kualitas internasional, serta pemanfaatan teknologi digital terutama e-commerce, branding digital, dan sistem ketertelusuran berbasis blockchain. Integrasi ketiga aspek tersebut memperkuat kepercayaan konsumen global sekaligus membuka peluang ekspor lebih luas bagi UMKM. Dengan demikian, peningkatan daya saing halal membutuhkan sinergi antara pelaku usaha, pemerintah, serta dukungan ekosistem digital dan regulasi yang berpihak pada inovasi.
Copyright (c) 2026 Raihan Yahya Ismail , Poni Purwati , Aan Jaelani, Dewi Fatmasari (Author) https://creativecommons.org/licenses/by/4.0
Analisis Pengaruh Pasar Digital terhadap Produk Halal: Adopsi Platform E-commerce Pelaku UMKM di Kota Surakarta
Aktivitas ekonomi melalui platform e-commerce dapat diakses dengan mudah dan menjadi wadah baru dalam aspek ekonomi kreatif. Secara langsung dalam penelitian ini mengevaluasi strategi mitigasi hambatan dalam transformasi digital khusus untuk industri halal dan e-commerce di konteks negara dengan populasi muslim besar seperti Indonesia. Pendekatan ini digunakan untuk menjelaskan hubungan kausal antara variabel-variabel yang diteliti, yaitu pengaruh pasar digital terhadap produk halal melalui adopsi platform e-commerce pada pelaku UMKM di Kota Surakarta. Dalam penelitian ini hasil analisis yang menunjukkan bahwa pasar digital dan adopsi platform tidak memiliki korelasi atau pengaruh langsung karena bisa disebabkan dari konteks platform e-commerce yang digunakan masih secara umum tidak berbasis syariah. Sebagaimana dari hasil pemerolehan data bahwa platform yang dipilih pelaku UMKM di Kota Surakarta meliputi Shopee, Lazada, Tokopedia, dana platform lain yang tidak disebutkan. hasil penelitian ini memberikan novelty atau kebaharuan terkait studi adopsi platform e-commerce dalam produk halal di Indonesia. Hal tersebut dikarenakan penelitian tentang halal banyak berfokus pada kepatuhan, regulasi, dan trust konsumen; sementara studi adopsi e-commerce hanya berfokus pada faktor teknologi, sumber daya, dan insentif digital.
Copyright (c) 2026 Yuni Safitri, Sulistyowati (Author) https://creativecommons.org/licenses/by/4.0
Peran Ekonomi Syariah dalam Mendorong Praktik Bisnis Beretika dan Berkelanjutan
Ekonomi syariah telah menjadi pendekatan alternatif dalam dunia bisnis yang menekankan prinsip-prinsip etika, keadilan, dan keberlanjutan. Penelitian ini bertujuan untuk menganalisis peran ekonomi syariah dalam mendorong praktik bisnis beretika dan berkelanjutan, dengan fokus pada aspek-aspek seperti larangan riba, zakat, dan tanggung jawab sosial. Melalui pendekatan kualitatif dan kuantitatif, penelitian ini mengkaji studi kasus dari perusahaan syariah di Indonesia dan internasional, serta analisis data sekunder dari laporan keuangan dan indeks keberlanjutan. Hasil penelitian menunjukkan bahwa prinsip syariah mendorong transparansi, distribusi kekayaan yang adil, dan investasi yang ramah lingkungan, sehingga mengurangi risiko etis seperti korupsi dan eksploitasi. Selain itu, ekonomi syariah berkontribusi pada pembangunan berkelanjutan dengan memprioritaskan keseimbangan antara profitabilitas dan kesejahteraan sosial-ekologis. Temuan ini mengonfirmasi bahwa integrasi nilai-nilai syariah dalam bisnis dapat meningkatkan kepercayaan stakeholder dan mendukung agenda pembangunan global seperti Sustainable Development Goals (SDGs). Penelitian ini merekomendasikan penguatan regulasi dan pendidikan untuk memperluas adopsi ekonomi syariah, guna mencapai bisnis yang lebih etis dan berkelanjutan di era globalisasi.
Copyright (c) 2026 Nur Aziza (Author) https://creativecommons.org/licenses/by/4.0
Technology Adoption, Human Capital, and Sharia Accounting Literacy: Their Impact on Financial Reporting Quality
This research aims to determine the influence of understanding accounting, utilization of the Jurnal Id application, and human resource competence on the quality of financial reports at PT Era Cipta Digital in Medan City. This research uses independent variables, namely understanding of accounting, utilization of the ID journal financial application, and human resource competency. Meanwhile, the dependent variable is the quality of financial reports. This type of research is quantitative research using primary and secondary data. The sample from this research is all employees who work at PT Era Cipta Digital. In this research, the sampling technique used was the saturated sampling method. The statistical analysis used in this research is the classical assumption test, regression analysis, hypothesis testing using the T and F tests, and analysis of the coefficient of determination. Data collection was carried out using a questionnaire method which was distributed directly to 32 respondents. The results of this research indicate that the accounting understanding variable does not affect the quality of PT Era Cipta Digital's financial reports. The use of the ID journal application and HR competency has a positive and significant effect on the quality of PT Era Cipta Digital's financial reports.
Competence Human Resources Understanding Utilization
Copyright (c) 2025 Ipuk Widayanti (Author) https://creativecommons.org/licenses/by/4.0
Islamic Economic Institutions’ Dynamics in Muslim and Non-Muslim Countries: Comparison of Morocco and Australia
Studies on Islamic economic institutions have developed significantly as part of the discourse on alternative and inclusive economic systems. However, in practice, many obstacles remain in implementing Sharia principles amid digital transformation and global institutional dynamics. This research aims to comparatively analyze Islamic economic institutions in Morocco and Australia, focusing on institutional structures, regulations, and the socio-economic contexts that influence the performance and sustainability of these institutions. The research employs a quantitative method with a comparative approach between the two countries, using purposive sampling of Islamic economic institutions that have operated for at least five years and publish verified reports. Data were collected from secondary documentation and analyzed through descriptive statistics, mean difference tests, and variable correlation analysis. The findings indicate that the success of Islamic economic institutions is strongly influenced by national contexts and institutional systems. Morocco adopts a top-down institutional model integrated into state regulations, while Australia relies on community-driven innovation within a regulatory framework that remains unspecific. Therefore, Indonesia can strengthen its Islamic finance ecosystem by combining robust regulations with market-based innovations.
Australia Comparative analysis Islamic economic Institutions Morocco
Copyright (c) 2025 Muhammad Ash Shayiim (Author); Naufal Luthfi Alifa (Translator) https://creativecommons.org/licenses/by/4.0
A Sharia Economic Review of the Qardh Contract in Shopee PayLater Transactions
The Qardh contract law in muamalat law does not allow the lender to take profit or interest, and this carries usury which is prohibited by Islamic law. This feature uses loans and instant loans with a certain limit amount that can be used for shopping and paid in the following month according to the due date agreed by active users of the marketplace. This research aims to determine the Qardh contract transaction mechanism on Shopee PayLater following Sharia economic law, legal uniformity in prohibiting PayLater, the Shopee Paylater transaction mechanism for online buying and selling using Qardh contracts, and the Shopee Paylater payment system in installments without a credit card. In this research, the type and approach used is empirical, which is usually called field research with a qualitative approach method. Meanwhile, the data collection techniques that researchers use are interviews, observations, documentation, and literature review. Then the data analysis used in this research is descriptive qualitative. Based on the results of research and data analysis, it was concluded that the Shopee PayLater transaction mechanism, namely the rules regarding online buying and selling transactions, still refers to the legal terms of the agreement in Article 1320 of the Civil Code. The conditions for a valid agreement in Article 1320 of the Civil Code are as follows there is an agreement between both parties. The ability to act; the existence of the agreed object; there is a lawful cause. If there is a delay in making payment, the buyer will be subject to a fine of 5%. This amount will continue to increase if the buyer does not immediately pay off the installments. Getting a bad view from the Financial Services Authority (OJK) makes it difficult to get financing from banks or others. Sharia Economic Law regarding Shopee PayLater is whether or not the elements of harmony and buying and selling conditions are met. In practice, regarding the existence of harmony and conditions for buying and selling using Shopee Pay later, it can be explained as follows seller and buyer or people who have an agreement, consent, and acceptance, goods purchased. So, transactions using Shopee PayLater are considered to contain usury.
Copyright (c) 2025 Zidny Hasbi (Author) https://creativecommons.org/licenses/by/4.0
Efektivitas Pengelolaan Zakat terhadap Peningkatan Kesejahteraan Masyarakat Miskin
Zakat merupakan instrumen ekonomi Islam yang memiliki peran strategis dalam meningkatkan kesejahteraan masyarakat dan mengurangi tingkat kemiskinan. Penelitian ini bertujuan untuk menganalisis efektivitas pengelolaan zakat serta dampaknya terhadap pemberdayaan ekonomi mustahik. Metode penelitian yang digunakan adalah pendekatan deskriptif kualitatif dengan mengumpulkan data melalui studi literatur dan analisis dokumen terkait pengelolaan zakat di Indonesia. Hasil penelitian menunjukkan bahwa zakat, khususnya dalam bentuk program zakat produktif, memberikan kontribusi signifikan terhadap peningkatan pendapatan, kemandirian ekonomi, serta perubahan sosial pada kelompok penerima manfaat. Namun demikian, optimalisasi peran zakat masih membutuhkan dukungan sistem distribusi yang lebih tepat sasaran, penguatan lembaga pengelola zakat, serta peningkatan literasi masyarakat mengenai kewajiban zakat. Penelitian ini menyimpulkan bahwa zakat memiliki potensi besar sebagai instrumen pengentasan kemiskinan apabila dikelola secara profesional, transparan, dan berkelanjutan.
Kesejahteraan Sosial, Pemberdayaan Ekonomi, Zakat
Copyright (c) 2025 Genia Indah Permatasari (Author) https://creativecommons.org/licenses/by/4.0
Integrating Islamic Social Finance and Islamic Fintech for Household Financial Resilience in Indonesia
This conceptual paper explores how the integration of Islamic social finance (ISF) zakat, infaq, ṣadaqah and waqf with Islamic financial technology (Islamic fintech) can strengthen household financial resilience in Indonesia. Although Indonesia has a large Muslim population and strong potential of zakat and waqf actual collection remains far below its potential, and many Muslim households are still vulnerable to income shocks, limited savings buffers and reliance on informal debt. At the same time rapid growth of digital zakat platforms and Islamic fintech solutions such as peer to peer (P2P) financing, sharia compliant crowdfunding, and digital payment channels has opened new opportunities for inclusive, technology enabled Islamic finance. However existing studies tend to examine digital zakat adoption and Islamic fintech for financial inclusion separately with limited attention to household resilience outcomes and to the design of an integrated ecosystem. Using an integrative literature review this paper synthesizes recent findings on ISF, Islamic fintech and financial resilience from an Islamic economics perspective. It then proposes a three layer integration model: (1) digital safety nets through ISF for consumption smoothing; (2) sharia compliant productive financing for asset building; and (3) risk protection instruments (micro takāful and emergency funds) supported by digital infrastructure and data analytics. The model is anchored in maqāṣid al-sharīʿah, especially preservation and fair circulation of wealth (ḥifẓ al-māl), and offers practical implications for regulators, Islamic financial institutions and zakat waqf organizations in Indonesia.
Digital Zakat Financial Resilience Islamic Social Finance Islamic Fintech Maqāṣid Al-Sharīʿah
Copyright (c) 2025 Muhammad Yusuf Bahtiar (Author) https://creativecommons.org/licenses/by/4.0
Implementation of Profit Sharing Ratio for Barokah Agricultural Capital Products at BMT UGT Nusantara Capem Situbondo, East Java
This study aims to determine the transparency of the profit sharing ratio of Barokah Agricultural Capital by BMT UGT Sidogiri Capem Sempu because the ratio must be stated clearly so as not to cause uncertainty in the distribution and injustice of the amount of the ratio set. This type of research uses descriptive qualitative research with observation, interview, and documentation methods as data collection techniques. The results of the study are based on the results of interviews related to the application of the profit sharing ratio of the Barokah agricultural capital product, namely the determination of the profit sharing ratio on the Barokah agricultural capital product, the amount has been determined by BMT UGT Nusantara Capem Sempu, therefore when members have chosen a period to apply for a capital loan, BMT provides an offer only related to the borrower agreeing or disagreeing with the predetermined ratio. In the Barokah Agricultural Capital product at BMT Riyadhul Jannah, profit sharing has been implemented and implemented by Islamic law. Because BMT UGT Sidogiri Capem Sempu always implements Sharia principles in all its transactions.
Ratio, Blessing Agricultural Capital, BMT
Copyright (c) 2025 Balqis Sriyandani (Author) https://creativecommons.org/licenses/by/4.0
Transforming Islamic Finance: Innovation Opportunities, Global Challenges, and the Role of Artificial Intelligence in Islamic Financial Management
Islamic finance is undergoing a major transformation in the digital age, driven by technological advancements such as artificial intelligence (AI), blockchain, and fintech. This research highlights the opportunities and challenges of digitalization in maintaining compliance with Shariah principles in the financial sector. Using a descriptive qualitative approach through a literature review, data was collected from international journals, industry reports, and regulatory documents. Thematic analysis was conducted to identify key themes, namely technological innovation, regulatory challenges, and Shariah compliance. The results show that AI and blockchain are important in improving operational efficiency and financial inclusion in the Islamic finance sector. AI supports fast data processing and personalization of services, while blockchain provides transparency and security of transactions. This technology expands access to Islamic finance to remote areas. However, key challenges include the digital divide, regulations that are not yet responsive to technological developments, and the need for strict supervision to maintain compliance with Shariah principles. The study concludes that digitalization offers great potential to advance Islamic finance. However, its success requires collaboration between financial institutions, regulators, and technology developers. Strategic efforts to address the challenges of regulation, data security, and technology accessibility are essential for such innovations to be sustainable and in line with Shariah values.
Islamic Finance, Artificial Intelligence, Sharia Compliance, Financial Inclusion
Copyright (c) 2025 Emelda Sari (Author) https://creativecommons.org/licenses/by/4.0
Hajj Fund Investment Management: Transparency and Accountability for Indonesian Muslim Society
Law No. 34 of 2014 on Hajj Financial Management (PKH) provides a clear legal basis for the Hajj Financial Management Agency (BPKH) to regulate the system and management of Hajj funds in Indonesia. This study aims to analyze the financial management mechanisms applied by BPKH, as well as the use of Hajj funds for investment. The research method employed is qualitative, with data and information collected from various sources such as books, research journals, and other references relevant to the topic. The results of the study show that the mechanism for managing Hajj funds begins with the deposit of funds from pilgrims into accounts in the name of BPKH through the Hajj treasury at the Deposit Bank for Hajj Funds (BPS). Subsequently, the allocation of funds for the organization of the Hajj is determined by the government after approval by the DPR (People’s Representative Council), by transferring funds from the Hajj treasury to the Hajj Implementation Unit (PIH) periodically. The assets managed by BPKH include money and goods that can be valued in monetary terms. The use of Hajj funds for investment can take various forms, such as banking products, securities, gold, direct investments, and others. The entire process of managing and investing Hajj funds is carried out based on Sharia principles, with a careful approach to risk management to ensure benefits for the pilgrims and the Muslim community as a whole.
Copyright (c) 2025 Herlinda Erni (Author) https://creativecommons.org/licenses/by/4.0
Risk Management of the Implementation of Baitul Maal Wa Tamwil Based on the Regulation of the Minister of Cooperatives and SMEs No. 12 of 2023: Evidence of the Existence of Islamic Finance
BMT NU Gambiran Branch was established in 2021 and functions as a non-bank Islamic financial institution with the principle of Islamic savings and loan cooperatives. By providing various types of financing, this organization seeks to improve the community's economy. However, the financing provided is not free from potential risks, especially the risk of problematic financing. This study aims to analyze the implementation of risk management at BMT NU Gambiran Branch and identify mitigation steps taken to address risks based on the provisions of KEMENKOP 2023. To gain an understanding of the implementation of risk management in problematic financing situations, this study uses a qualitative approach and case studies. With primary and secondary data sources, the data collection process is carried out through interviews, observations, and documentation. Data analysis was carried out using a risk register form by the provisions of the Regulation of the Minister of Cooperatives and Small and Medium Enterprises (KEMENKOP-UKM) Number 12 of 2023 to identify, assess, and monitor the risks faced by BMT. Through risk identification, monitoring, and control, BMT NU Gambiran Branch seeks to minimize the risk of bad financing that can hinder the performance of the institution. The results of the study indicate that effective risk management can help institutions achieve optimal results and ensure the continuity of their operations.
Risk Management, BMT, Problematic Financing, Data Analysis
Copyright (c) 2025 Nabila Erlyanti (Author) https://creativecommons.org/licenses/by/4.0
The Influence of Inflation, Interest Rates, Dividend Policy on Stock Prices in the Infrastructure and Transportation Sector in East Java
Infrastructure and transportation companies experienced a decline in stock prices a few years ago. This can be triggered by inflation, interest rates, and the company's dividend policy. Inflation and interest rates that change every year and dividend policy which is a measurement of profits earned by companies. The purpose of this study was to look at how inflation, interest rates, and dividend policies affect a company's share price. This research involves all companies in the field of infrastructure and transportation, the sampling criteria are as follows: companies listed in the foam securities from 2020-2024, companies uploading financial statements in 2020-2024, and companies that regularly distribute dividends in 2020-2024. 12 companies were selected through purposive sampling. This study was descriptive and quantitative and analyzed using several tests: normality, multicollinearity, heteroscedasticity, autocorrelation, linear regression, and T (Partial) test. The data was processed with the SPSS 24 analysis tool. The results showed that if inflation does not affect stock prices as indicated by the t-test, then the inflation value is 0.561 > 0.05. The interest rate has no effect on the stock price, as evidenced by the T-test obtained an interest rate value of 0.278 > 0.05. Dividend policy affects stock price, as seen in the T-test of the SIG value of dividend policy of 0.004 < 0.05.
Copyright (c) 2025 Desi Kurniawati (Author) https://creativecommons.org/licenses/by/4.0