Pemikiran Ekonomi Islam dalam Era Kontemporer: Antara Etika, Keadilan, dan Tantangan Globalisasi
Contemporary Islamic economic thought has emerged as an intellectual response to the complexities of the modern global economy, particularly the dominance of capitalism, persistent economic inequality, and ethical deficiencies within prevailing economic systems. This article aims to examine the development and core characteristics of contemporary Islamic economics, its distinction from classical Islamic economic thought, as well as its theoretical implications and future direction within the broader landscape of global economic discourse. Employing a qualitative-descriptive approach through library research, this study analyzes the works of modern Islamic economic thinkers alongside relevant academic literature. The findings indicate that contemporary Islamic economics emphasizes the integration of market mechanisms with Islamic ethical values by positioning maqāṣid al-sharīʿah as a central analytical framework. While differing from classical Islamic economics in terms of context and methodological approach, its ultimate normative objective remains the pursuit of just and holistic human welfare. The study further identifies conceptual and implementation challenges that reflect an ongoing evolutionary process rather than a stagnation of thought. Theoretically, this research reinforces Islamic economics as a value-based economic paradigm, while practically it offers insights for developing more equitable, humane, and sustainable economic policies in the modern era.
Contemporary Islamic Economics; Islamic Economic Thought; Maqāṣid al-Sharīʿah; Economic Justice; Global Economic System
Copyright (c) 2025 Ahmad Fadhil Fayyadh, Nur Anis Aulia, Fauzan Aidul Fitra (Author) https://creativecommons.org/licenses/by/4.0
Konsep Merkantilisme dalam Sejarah Pemikiran Ekonomi dan Realisasinya dalam Perspektif Ekonomi Islam
The relevance of mercantilist thinking in the context of modern economics by reviewing the criticisms and alternatives offered by Islamic economics. Mercantilism, as an early economic paradigm that emphasizes the accumulation of national wealth through the hoarding of precious metals and control of trade, is considered to have fundamental weaknesses because it ignores the dimensions of morality, justice, and social welfare. The purpose of this article is to identify how Islamic economic views evaluate the orientation of mercantilism and offer a more balanced economic model. This study uses a qualitative approach by examining theoretical concepts related to Islamic economic principles and critiques of economic structures based on state wealth accumulation. The results of the discussion show that the mercantilist orientation tends to cause inequality and exploitative economic practices, while Islamic economics emphasizes distributive justice, trade ethics, and a balance between material and spiritual interests. This study concludes that Islamic economics provides a more humane and sustainable alternative framework in responding to the structural weaknesses of mercantilism. This research has implications for the development of a contemporary economic model that is capable of combining moral values with economic efficiency, while also serving as a reference for policymakers in formulating a more just and inclusive economic system.
Mercantilism; Islamic Economics; Distributive Justice.
Copyright (c) 2025 Suriyani, Nurwana (Author) https://creativecommons.org/licenses/by/4.0
Pemikiran Ekonomi Ibnu Khaldun dan Relevansinya terhadap Pengembangan Ekonomi Modern
Classical Islamic economic thought has made significant contributions to the development of contemporary Islamic economic theory. One of the key figures in this body of thought is Ibn Khaldun, who, through his work, Muqaddimah, put forward holistic economic concepts, encompassing market mechanisms, the relationship between taxes and productivity, the role of the state, and the dynamics of economic cycles. This article aims to analyze Ibn Khaldun's economic thought and its relevance to the development of a modern economy. The research method used is library research with a qualitative-descriptive approach, through analysis of classical literature and scientific research. The results of the study indicate that Ibn Khaldun's thoughts in the context of Social Justice, Fiscal Balance, and the Role of the State in the Economic System are relevant to the development of a modern economy. The study's findings demonstrate that Ibn Khaldun's thoughts on social justice, fiscal balance, and the role of the state in the economic system are relevant to the development of the modern economy. The study's findings demonstrate that Ibn Khaldun's thoughts are strongly relevant to the principles of modern Islamic economics, particularly in the areas of economic justice, market balance, proportional fiscal policy, and ethics in economic activity. These concepts can serve as a theoretical basis for formulating sustainable Islamic economic policies and practices that are oriented toward the welfare of society. Therefore, Ibn Khaldun's thoughts remain relevant and applicable in addressing the challenges of Islamic economics in the contemporary era.
Ibn Khaldun; Islamic Economic Thought; Sharia Economics
Copyright (c) 2025 Nurul Arivah, Muh. Ikbal (Author) https://creativecommons.org/licenses/by/4.0
Integrating Islamic Business Ethics Into Retail Marketing Strategies: A Case Study Of Sakinahmart Surabaya
This research examines the integration of Islamic business ethics into marketing strategies at Sakinahmart, using qualitative research and a case study approach. The 7Ps of marketing mix (product, price, place, promotion, people, process, and physical evidence) are used as an analytical framework to identify the implementation of Islamic business ethics in marketing strategies. Data was obtained through interviews, observations, and documentation, then analyzed using data reduction, data presentation, and conclusion techniques. The results show that Sakinahmart consistently integrates Islamic business ethics values into all of its marketing strategies. The sale of products is guaranteed to be halal with halal certification. Pricing is determined transparently, fairly, and without price monopolies. Product distribution is carried out while maintaining halal compliance and avoiding hoarding. Promotions are conducted honestly, without exaggeration or misleading consumer information. Human resources at Sakinahmart practices ethical behavior and provides fair wages and compensation. Operational processes follow Sharia standards and utilize Sharia financial services. Physical evidence of this integration is reflected in the provision of worship facilities and an Islamic store atmosphere. This integration contributes to increased consumer loyalty and strengthens retail competitiveness in Surabaya.
Marketing Strategy, Islamic Business Ethics, Ritel, Sakinahmart, Qualitative Case Study
Copyright (c) 2026 Raditya Hasan, Muhammad Alfan Rumasukun, Rusyda Afifah Ahmad, Meichio Lesmana (Author) https://creativecommons.org/licenses/by/4.0
Asset Quality, Non-Performing Financing, and Early-Warning Indicators of Operational Stress in Islamic Banking Systems: Evidence from SSA
This study examines whether Non-Peforming Finance (NPF) functions as an early-warning indicator of operational stress in Islamic banks operating in SSA. Departing from conventional efficiency-determinant approaches, the study conceptualises operational efficiency as a diagnostic manifestation of internal stress transmission rather than a measure of managerial performance. The analysis employs a Simar–Wilson two-stage Data Envelopment Analysis framework to generate bias-corrected efficiency scores for a balanced panel of fully fledged Islamic banks over the period 2010–2024, followed by two-way fixed-effects panel regression to assess the early-warning role of lagged NPF. The results show that increases in NPF systematically precede subsequent declines in operational efficiency, indicating that asset quality deterioration is transmitted internally through higher monitoring, restructuring, and Sharīʿah governance costs. The findings further reveal that such asset-quality-induced operational stress is persistent and more pronounced in structurally constrained banking environments. By reframing NPF as a forward-looking supervisory trigger and efficiency as a stress indicator, the study provides novel evidence for regulators and monetary authorities seeking to enhance early-warning frameworks in Islamic banking systems globally today.
Islamic Banking, Asset Quality, Operational Efficiency, Financial Stability
Copyright (c) 2026 Abdallah Mambo Dallu, Michael Njoroge Njogo, Fiona Jepkosgei Korir (Author) https://creativecommons.org/licenses/by/4.0
Rekonstruksi Pemikiran Ekonomi Islam tentang Pasar dalam Ekonomi Modern
Islamic economic thought on the market has strong historical roots and distinctive normative values, yet it faces significant challenges within the dynamics of the modern economy characterized by globalization, digitalization, and the dominance of free-market mechanisms. This study is motivated by the gap between Islamic market principles and modern market practices that often generate inequality and injustice. The purpose of this study is to reconstruct Islamic economic thought on the market to ensure its relevance in modern economic development without losing its core values. This research employs a literature analysis method by examining classical and contemporary Islamic economic works alongside relevant modern economic literature. The results indicate that Islamic market concepts emphasize justice, transparency, prohibition of exploitation, and the moral role of market actors, which can be reconstructed through the integration of Islamic ethical values into modern market systems. The implications of this study demonstrate that reconstructing Islamic market thought can contribute theoretically to contemporary Islamic economics and practically offer an alternative framework for developing a just and sustainable market system.
Islamic Economics; Market; Modern Economy
Copyright (c) 2025 Syahrul Abadi, Muhammad Yafiz (Author) https://creativecommons.org/licenses/by/4.0
Sharia Law and Financial Reporting Practices: An Empirical Study of Selected Business Organizations in Gusau Metropolis, Zamfara State, Nigeria
This study empirically investigates the effect of Sharia law on financial reporting practices among selected business organizations in Gusau metropolis, Zamfara State, Nigeria. The research addresses a critical gap in the literature by focusing on local, non-banking businesses in a region where Sharia law is formally integrated into the legal and regulatory framework. Using a descriptive survey design, primary data were collected from 120 business organizations through a structured questionnaire, and analyzed using SPSS version 18. The results reveal that Sharia compliance is a significant positive predictor of both the content and structure (B = 0.48, p < 0.001) and the transparency (B = 0.52, p < 0.001) of financial statements. Disclosure practices also significantly enhance financial statement quality (B = 0.32, p = 0.004) and transparency (B = 0.37, p = 0.001), while reporting challenges negatively affect transparency (B = -0.18, p = 0.027). Perceived benefits are positively associated with Sharia compliance in financial reporting (B = 0.41, p = 0.001). The regression models demonstrated good fit, with R² values ranging from 0.27 to 0.54, and all ANOVA results were statistically significant (p < 0.001). The study concludes that robust Sharia compliance and disclosure practices are pivotal for high-quality, transparent financial reporting, but practical challenges remain. It recommends the development of standardized Sharia-compliant reporting guidelines and targeted professional training to further enhance financial transparency and accountability in Zamfara State and similar contexts.
Sharia Law, Financial Reporting, Disclosure Practices, Business Organizations
Copyright (c) 2025 Vincent Olawale Bamidele (Author) https://creativecommons.org/licenses/by/4.0
Analisis Manajemen Pengajian Gus Iqdam dan Dampaknya terhadap Peningkatan Pendapatan Masyarakat Desa Karanggayam
Regular Islamic gatherings function not only as spiritual and social activities but also have the potential to stimulate local economic activity. This study aims to analyze the role of Gus Iqdam’s religious gathering management in improving the income of the Karanggayam Village community. The research employs a qualitative field approach through interviews, observations, and documentation. The findings show that structured management—planning, organizing, implementing, and controlling—can create economic activities that increase vendors’ income. Daily earnings of vendors may rise up to four times compared to regular days. Factors such as business capital, length of business operation, location, and working hours also influence income levels. These findings indicate that the management of religious gatherings can serve as an instrument for community economic empowerment and holds potential to be developed as a model for strengthening community-based economic development.
Islamic Study Management; Economic Empowerment; Community Income; Islamic Economics; Local Economic Activities
Copyright (c) 2025 Helmalia Oktaviana, Rifqi Rama Dhani, Mashudi Mashudi (Author) https://creativecommons.org/licenses/by/4.0
Integrasi Ilmu dan Praktik dalam Manajemen Syariah
This paper examines the intersection between the philosophy of science (epistemology, methodology, and ontology) and the development of Islamic management theory and practice. Using a critical literature review (library research), the study explores how Islamic epistemological foundations — including revealed sources and rational inquiry — shape paradigms, methods, and objectives in Islamic management (manajemen syariah). The review finds that integrating philosophy of science with maqāṣid al-sharīʿah and Islamic epistemology fosters a management model that pursues not only economic efficiency but also social welfare, justice, and ethical accountability. Recommendations include developing multi-method research approaches (hermeneutic-theoretical combined with empirical methods), embedding shariah values into performance metrics, and involving religious scholars in organizational policy design. Theoretical and practical implications for scholars, policymakers, and Islamic organizational.
Philosophy Of Science, Islamic Epistemology, Islamic Management, Maqashid Al-Shariah
Copyright (c) 2025 Jessika Gafur Lamba (Author) https://creativecommons.org/licenses/by/4.0
Perlindungan Hak Konsumen dalam Jual Beli Online: Analisis Prinsip Khiyār dalam Fikih Muamalah dan Relevansinya dengan Hukum Indonesia
The development of digital technology has changed transaction patterns from conventional to online buying and selling, which presents both opportunities and risks for consumers. Issues such as defective goods, mismatched descriptions, and difficulties in returns indicate the need for stronger legal protection. In muamalah fiqh, the principle of khiyār gives the transacting parties the right to continue or cancel a contract based on certain conditions, including khiyār kondisi, khiyār majlis, khiyār aib, and khiyār ru’yah. This study aims to analyze the relevance of the principle of khiyār as a basis for consumer protection in online buying and selling and examine its compliance with Indonesian positive law. The research method used is descriptive qualitative with a literature study approach and normative-comparative analysis. Data sources consist of classical fiqh literature, laws and regulations, and previous research results. The results of the analysis show that khiyār aib and khiyār ru’yah are highly relevant in the context of e-commerce, because they provide the basis for consumer rights to return and refund. The integration of the principles of khiyār and Law Number 8 of 1999 strengthens consumer protection both legally and ethically. This study concludes that the implementation of khiyār can complement positive law, increase consumer awareness, and encourage fairer and more transparent online business practices.
Khiyār, Consumer Protection, Online Buying and Selling, Muamalah Jurisprudence, E-commerce
Copyright (c) 2025 Achmad Alfian Saputra, Nailan Nabila (Author) https://creativecommons.org/licenses/by/4.0
Analisis Perbedaan Kinerja Keuangan Bank Syariah Menurut Standar AAOIFI
This study aims to qualitatively analyze the differences arising in the measurement of financial performance of Islamic banks when measured using AAOIFI Financial Accounting Standards compared to accounting standards in force in Indonesia. This study uses qualitative research library studies with content analysis and comparative interpretation to understand the philosophical and practical impact of standard differences on key performance indicators. The results of the analysis indicate that the measurement of the financial performance of Islamic banks will be materially different when using the AAOIFI framework compared to PSAK Syariah, mainly due to differences in the philosophy of AAOIFI standards oriented to Sharia normative compliance, while PSAK oriented to economic decision-making. This key divergence affects the calculation of profitability ratios and AAOIFI's emphasis on social reporting as well as comprehensive sharia compliance audits, so that AAOIFI provides a more holistic and accurate picture of performance in accordance with the objectives of Maqashid Sharia. The implication of this study is that Islamic banks in Indonesia need to consider harmonizing their financial reporting standards towards the AAOIFI framework to achieve more accurate, holistic, and aligned performance transparency with the principles of Maqashid Sharia, in order to improve global competitiveness.
Financial Performance; Islamic Banks; AAOIFI
Copyright (c) 2025 Jhody Wiraputra, Okta Sari, Ridwansyah Ridwansyah (Author) https://creativecommons.org/licenses/by/4.0
Efektivitas Manajemen Pembiayaan Ijarah Multijasa pada Layanan Pembiayaan FIF Group
Ijarah Multijasa financing has become one of the essential instruments in the development of Islamic financial services in Indonesia, particularly in supporting the financing needs of pilgrimage activities such as Hajj and Umrah. However, the effectiveness of financing management within non-bank institutions such as FIF Group has received limited scholarly attention. This study aims to analyze the effectiveness of Ijarah Multijasa financing management for Hajj and Umrah advance funds provided through the Amitra unit of FIF Group. The research employs a descriptive qualitative approach, with data collected through in-depth interviews, observation, and documentation, involving Amitra employees and customers as key informants. The findings indicate that the financing implementation adheres to sharia principles, as shown by the proper analysis of customer eligibility, the absence of late payment penalties, the non-imposition of early settlement penalties, and the transparent explanation of the contract prior to signing. The reminder system implemented by Amitra also contributes to timely installment payments. Nonetheless, customer understanding of sharia contractual concepts still requires improvement. This study offers theoretical implications concerning the importance of sharia compliance in financing management and practical recommendations to strengthen customer education and communication for enhancing the quality of Islamic financing services.
Ijarah Multijasa; Islamic Financing; Hajj Advance Funds; Financing Management; FIF Group
Copyright (c) 2025 Andi Lisa Aryani Hamjan, Hasanah, Muhammad Fakhri Amir (Author) https://creativecommons.org/licenses/by/4.0
Local Economic Transformation through International Collaboration: Optimizing the Creative Economic Potential of Edelweiss Flowers Based on Sharia Principles
This Community Service Program (PKM) aims to support local economic transformation among the Tengger Tribe by optimizing creative economic potential based on the edelweiss flower through a sharia-based framework and international collaboration between Indonesian universities that are members of APSKPS and Malaysian universities. A participatory approach was applied through observation, interviews, focus group discussions, documentation, and direct educational mentoring for local micro‐entrepreneurs. The findings reveal improved Islamic financial literacy, enhanced portable digital marketing capacity, and strengthened ecological awareness regarding the conservation of edelweiss as a culturally valuable yet environmentally sensitive species. Collaboration with USIM, UiTM, and UKM enabled cross-country knowledge transfer that enriched empowerment strategies and broadened the community’s orientation toward sustainable creative economy development. This program integrates Islamic spiritual-ecological values, environmental preservation, and digital innovation into a single framework rooted in maqashid shariah. The results indicate that economic utilization of edelweiss does not require harvesting from natural habitats, but can be developed through non-destructive derivative products and creative digital content grounded in local culture. This model serves as an example of inclusive, sustainable, and socially just community empowerment.
Copyright (c) 2025 Ismawati, I Nyoman Budiono, Hastin Tri Utami, Andi Bahri S, Inarotul A'yun, Dewi Maharani, Mitra Sami Gultom, Atina Hidayati, Nuur Halimatus Saadiah Masrukhin, Hanim Misbah, Siti Kadariah (Author) https://creativecommons.org/licenses/by/4.0
Strengthening Sharia Financial Literacy and Portable Marketing for the Tengger Tribe Community
This community service program aims to enhance the economic independence of the Tengger Tribe through strengthening Islamic financial literacy and portable digital marketing skills. The program was conducted as an international collaboration between Indonesian universities that are members of APSKPS and Malaysian universities, namely Universiti Sains Islam Malaysia (USIM), Universiti Teknologi MARA (UiTM), and Universiti Kebangsaan Malaysia (UKM). The study employed a Participatory Action Research (PAR) approach, involving the community actively in each stage of the program, from planning to implementation and evaluation. The results indicate an increased understanding among participants regarding Islamic financial principles, including contracts such as mudharabah, musyarakah, and murabahah, as well as the application of simple financial record-keeping in small enterprises. Moreover, the portable marketing training encouraged local entrepreneurs to utilize digital platforms such as WhatsApp Business and Instagram to promote Tengger’s local products to a broader market. This program successfully fostered cross-country academic collaboration and demonstrated that the synergy between education, Islamic values, and digital technology can serve as an effective strategy in developing an equitable and competitive indigenous economy.
Copyright (c) 2025 Saiful Bakhri, I Nyoman Budiono, Sulistyowati, Siti Hasanah, Ahmad Fauzan Mubarok, Khotibul Umam, Nadia Azalia Putri, Ana Pratiwi, Hasnah Haron, Nur Aima Shafie, Siti Kadariah (Author) https://creativecommons.org/licenses/by/4.0
Hukum Menggadaikan Harta Pinjaman Menurut Hukum Islam
Pawning is pledging property as collateral for the debt borrowed. However, if the status of the mortgaged property is the result of borrowing, of course there are views regarding the legal status of pawning borrowed assets. The purpose of this research is to find out about the legal status of pawning borrowed assets according to Islamic law. The research method is a qualitative method which aims to understand in depth the law of pawning borrowed assets according to Islamic law. The data in this research are in the form of documents, books and journals related to this research. This research also uses data collection techniques using the literature study method (library research). The results of this research can be concluded that pawning loaned assets is permitted on condition that the owner of the property gives permission. In Islam, loaned assets are only used as collateral, there is no transfer of ownership, so that the loan proceeds can also be used as collateral in pawning. This research is expected to increase insight into Islamic treasures, especially in the field of sharia economics.
Copyright (c) 2025 Angga lestari Nugraha (Author) https://creativecommons.org/licenses/by/4.0
Reconstructing the Islamic Green Economy: Ethics, Institutions, and Sustainable Development
This study reconstructs the Islamic Green Economy as an integrative paradigm that connects ethical foundations, institutional dynamics, and sustainable development pathways. The research responds to the limitations of mainstream green economy approaches that tend to emphasize technocratic solutions while marginalizing moral and spiritual dimensions of economic behavior. Using a qualitative descriptive–analytical method, the study critically examines classical and contemporary Islamic economic literature, policy documents, and empirical studies on sustainable Islamic finance. The analysis is conducted through three stages: normative analysis based on maqāṣid al-sharīʿah, institutional analysis of Islamic financial and social institutions, and interpretative synthesis. The findings indicate that sustainability in Islamic economics is intrinsically embedded in its ethical framework, particularly through principles of stewardship (khilāfah), balance (mīzān), justice, and the prohibition of excess (isrāf). Institutionally, the Islamic Green Economy is manifested through innovations such as green sukuk, environmentally oriented waqf, Islamic microfinance, and blended social finance models. These developments signify a shift from formal Shariah compliance toward value-driven and impact-oriented economic practices. The study concludes that the Islamic Green Economy offers a holistic and ethically grounded development paradigm that aligns environmental sustainability with social justice and long-term human well-being, contributing an alternative framework for sustainable development, particularly in Muslim-majority and developing countries.
Islamic Green Economy; Maqāṣid Al-Sharīʿah; Sustainable Development; Islamic Finance; Environmental Ethics
Copyright (c) 2026 Syahrizul Abadi (Author) https://creativecommons.org/licenses/by/4.0
Bibliometric Mapping of Islamic Green Economy Research: Trends, Networks, and Emerging Themes
The rapid growth of the global Islamic economy, with Sharia financial assets projected to reach USD 9.75 trillion by 2029, demands the transformation of Sharia accounting systems through artificial intelligence (AI) implementation. This study analyzes the impact of AI on the transformation of Sharia accounting systems from a global perspective using qualitative methods through library research examining recent academic sources. The results reveal that AI enhances Sharia compliance monitoring accuracy by up to 92% through natural language processing (NLP), but faces complex challenges including regulatory disparities, algorithmic biases, and technological infrastructure gaps between GCC, Southeast Asia, and Africa regions. Key findings emphasize the need for an ethical framework based on maqasid al-shariah and localized AI adoption strategies. The research contributes to the development of a hybrid intelligence model integrating AI with human expertise and an ethical AI certification framework for Sharia accounting. This study recommends multisectoral collaboration to ensure digital transformation aligned with Islamic values.
Bibliometrics, Islamic Green Economy, Trends
Copyright (c) 2025 Ainul Fatha Isman, Syahriyah Semaun, Muh. Ahsan Kamil, Ali Wardani, Muhammad Rasyid Ridlo (Author) https://creativecommons.org/licenses/by/4.0
Analisis Pengelolaan dan Efektivitas Zakat Produktif terhadap Pemberdayaan Pedagang Kaki Lima: Studi pada BAZNAS Kota Jambi
This study aims to analyze the management and effectiveness of productive zakat distributed by the National Amil Zakat Agency (BAZNAS) of Jambi City in empowering street vendors. Productive zakat is viewed as a strategic instrument for transforming mustahik (zakat recipients) into muzakki (zakat payers) through enhanced business capacity and income growth. This research employs a normative-empirical approach with a qualitative descriptive method, combining legal analysis of zakat regulations—particularly Law Number 23 of 2011 on Zakat Management and BAZNAS regulations—with field data obtained through interviews and observations involving administrators and beneficiaries. The results indicate that the management of productive zakat at BAZNAS Jambi City has been in accordance with Islamic law principles and positive legal norms, encompassing planning, distribution, mentoring, and evaluation stages. However, its effectiveness in economic empowerment remains suboptimal due to limited capital, insufficient business assistance, and low financial literacy among beneficiaries. This study concludes that enhancing managerial capacity and continuous mentoring are key to achieving the objectives of productive zakat in accordance with maqāṣid al-syarī‘ah, particularly in preserving wealth (ḥifẓ al-māl) and promoting social welfare.
Zakat Productive, Empowerment, Street Vendors, BAZNAS
Copyright (c) 2025 Maryani, Deni Wijaya, Fitri Angre Yani, Aldri Zaini Ladista, Agung Dwi Andreanto, Supian Suri Barus (Author) https://creativecommons.org/licenses/by/4.0
The Influence of Knowledge, Image, and Service of Islamic Banks on Adoption of Sustainable Financial Practices: Evidence from University Students in Indonesia
This study aims to analyze the influence of Islamic financial literacy, bank image, and perceived service quality on students’ decisions to adopt Islamic banking in Indonesia. Using a quantitative survey approach, data were collected from students through structured questionnaires and statistically analyzed to examine the relationships among variables. The findings reveal that a high level of Islamic financial literacy, a positive bank image, and favorable perceptions of service quality collectively enhance students’ intentions to use Islamic banking services. These results indicate that improving literacy, credibility, and service quality can foster greater trust and participation of young generations in Islamic finance. The study underscores the importance of education-based strategies, brand reputation, and digital service excellence in strengthening the role of Islamic banks in promoting sustainable and inclusive financial development.
Islamic banking; financial literacy; sustainable finance
Copyright (c) 2025 Fajrunas Alqodri (Author) https://creativecommons.org/licenses/by/4.0
Women’s Empowerment Through Collateral-Free Credit (Case Study of the An-Nisa Pati Cooperative)
Women's empowerment is a top priority in Indonesia's economic development, aligned with the Sustainable Development Goals (SDGs), particularly SDG 5 on gender equality and SDG 8 on economic growth and decent work. However, women still face significant barriers in accessing formal financing. This study aims to analyze the role of the An-Nisa Pati Cooperative as a local institutional innovation in providing access to collateral-free microcredit and its impact on women's economic empowerment. The research method used a descriptive qualitative approach with in-depth interviews, participant observation, and document analysis. The results show that the An-Nisa Cooperative not only opens access to financing for women in microenterprises, agriculture, and informal businesses, but also increases women's self-confidence, social solidarity, and economic participation. The implications of this study emphasize the importance of strengthening community-based institutions as an effective strategy to address structural inequalities and promote gender mainstreaming in local economic development.
Copyright (c) 2025 Daris Zunaida, Endang Suswati, Sugeng Mulyono, Jamal Abdul Nasir (Author) https://creativecommons.org/licenses/by/4.0
Bai' Al-Wafa And Hybrid Contract In Bmt Sidogiri East Java
Some Islamic financial institutions have implemented bai' al-wafa' although there is no DSN MUI fatwa that regulates directly. This academic debate results in different applications. For a person or group who views it as haram, this contract is not carried out. They prefer pawn. For groups that allow it, they apply the bai' al-wafa contract by referring to the opinions that allow it. The application of bai' al-wafa depends on which reference is used as a basis. The research uses a qualitative approach with an analytical descriptive method based on field studies. The research locus is BMT Sidogiri. Data sources are taken from BMT managers. Data collection is done by interview, observation, and documentation. The data were analyzed in accordance with the characteristics of qualitative research. This research produced several findings. First, the mechanism of bai' al-wafa is in accordance with the opinion of the Hanafi school of thought which views that this contract includes 'urf. Second, in the analysis of muamalah fiqh, the bai' al-wafa contract at BMT Sidogiri is allowed because it contains the requirements of a valid contract and contains a side of benefit. The provisions for the permissibility of bai' al-wafa>' are regulated in the Compilation of Sharia Economic Law articles 112 to 115 Third, to avoid the assumption of ribawi, BMT applies multiple contracts, namely bai al-wafa with ijarah.
Copyright (c) 2025 Dadang Zenal Mutaqin, Rudi Ahmad Suryadi (Author) https://creativecommons.org/licenses/by/4.0
Potensi Integrasi Zakat & Wakaf Berbasis Digital untuk Mencapai Tujuan Pembangunan Berkelanjutan (SDGs): Perspektif Maqashid Syariah
This study examines the potential of digital-based zakat and waqf integration as a strategic instrument to support the achievement of the Sustainable Development Goals (SDGs) through the Maqashid Sharia approach. Using descriptive qualitative methods and literature studies, this study explores how digitalization can improve efficiency, transparency, and inclusiveness in zakat and waqf management. The analysis shows that digital zakat and waqf integration aligns with the five main objectives of Maqashid Sharia: protection of religion, life, intellect, descendants, and property. Digital transformation is a catalyst for increasing public participation and equitable distribution of benefits, as well as addressing sustainable development challenges such as poverty, social inequality, and access to education. However, the implementation of this integration still faces challenges, including low digital literacy, a lack of innovation in social financial products, and limited regulations and reporting systems. Therefore, synergy between Islamic financial institutions, the government, and stakeholders is needed to build an adaptive, accountable, and sustainable zakat and waqf governance system to strengthen Islam's contribution to global development.
Copyright (c) 2025 Fajar Satriyawan Wahyudi, Muhammad Agus Setiawan, Sheema Haseena Armina (Author) https://creativecommons.org/licenses/by/4.0
The Impact of Artificial Intelligence Implementation on the Transformation of Sharia Accounting Systems in a Global Perspective
Copyright (c) 2025 Muhammad Diaz Supandi, Atha Zhalifunnas (Author) https://creativecommons.org/licenses/by/4.0
Etika Bisnis Perspektif Al-Qur'an: Studi Komparatif Pemikiran Wahbah Zuhaili dan Muhammad Abduh
This study aims to explore and compare the concept of business ethics from the perspectives of two prominent modern Islamic thinkers: Wahbah az-Zuḥaylī and Muhammad Abduh. The background of this research lies in the growing prevalence of unethical business practices in the modern era, despite ethics being a core pillar of the Islamic economic system. The study seeks to uncover normative and spiritual values that can serve as a foundation for building a just and sustainable Islamic economic framework. The research employs a qualitative method based on literature review, using primary sources such as Wahbah az-Zuḥaylī’s works (al-Fiqh al-Islāmī wa Adillatuh, al-Tafsīr al-Munīr) and Muhammad Abduh’s Tafsīr al-Manār, supported by secondary sources including books, journals, and scholarly articles. The analysis is conducted thematically and comparatively. Findings reveal that az-Zuḥaylī emphasizes legal-formal aspects such as fairness in transactions and proper documentation, while Abduh highlights spiritual awareness, moral consciousness, and social transformation in business practices. The study concludes that both approaches are complementary—az-Zuḥaylī reinforces the legal framework, whereas Abduh enriches the ethical and rational dimensions. These insights have theoretical and practical implications for contemporary Islamic business ethics policy development and open opportunities for further research in Islamic economics.
Business Ethics; Islamic Economy; Comparative Study; Qur’anic Interpretation
Copyright (c) 2025 Muhammad Zulfi Hamdi Muhayati, Amiril Ahmad (Author) https://creativecommons.org/licenses/by/4.0
Analisis Maqashid Syariah dalam Pengembangan Standar Akuntansi Syariah
This study aims to examine the relevance of maqashid sharia integration in the development of sharia accounting standards, as well as its impact on strengthening sharia financial management in Indonesia. The methodology used is a literature study with a descriptive qualitative approach. Data sources come from classical and contemporary literature, sharia accounting standards (PSAK and ISAK Sharia), and related policy documents. The results of the study indicate that strengthening standards based on maqashid sharia can improve the quality of financial reporting and governance, as well as strengthen public trust in sharia entities in IndonesiaKeywords: Maqashid Syariah, PSAK Syariah, Sharia Accounting, Financial Standards, DSAS IAI
Maqashid Syariah, Syariah Accounting Standards, Financial Management
Copyright (c) 2025 Syahrul Mubarak, Hardianti, Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
Analisis Problem Gap Pencatatan Murabahah pada Lembaga Keuangan Syariah dan Implikasinya terhadap Kepercayaan Nasabah
This research is motivated by the incompatibility between the sharia accounting standards of PSAK 102 and the practice of recording murabahah transactions in Islamic financial institutions. The purpose of this study was to identify these practice gaps and analyze their impact on customer confidence levels. This study uses a qualitative descriptive approach with a literature study method that examines secondary sources, such as scientific journals, accounting standards, and regulatory documents. The results of the study show that many institutions have not implemented PSAK 102 consistently, especially related to the recognition of profit margins and the presentation of selling prices. In addition, low customer participation in understanding murabahah contracts leads to information asymmetry and decreased transparency. The implications of this ambiguity negatively impact customer perception, weaken trust, and threaten the credibility and sustainability of Islamic financial institutions. These findings show that the problems faced are not only technical, but also include ethical and institutional dimensions. Therefore, a commitment to standard-compliant reporting, higher transparency, and active involvement of customers in the transaction process is needed to uphold Islamic financial principles.
Murabahah, PSAK 102, Islamic Financial Institutions, Transparency, Customer Trust
Copyright (c) 2025 Eka Allafta Firman, Muh. Akwan, Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
Transformasi Akuntansi Syariah dalam Lembaga Zakat dan Koperasi di Era Digitalisasi Keuangan Islam
The era of Islamic finance digitalization has brought significant transformation in sharia accounting practices, particularly in zakat institutions and sharia cooperatives. This article analyzes the paradigm shift in sharia accounting that occurs with the adoption of digital technology in Islamic finance management. This research employs qualitative descriptive analysis method with literature review approach to understand the implementation of sharia accounting in the digitalization context. The research findings indicate that digital transformation has enhanced transparency, accountability, and efficiency in zakat fund management and sharia cooperatives through the implementation of systems such as SIMZAT and integrated digital platforms. Blockchain technology, artificial intelligence, and big data analytics provide opportunities to improve sharia compliance and real-time monitoring. However, challenges remain regarding system standardization, incomplete regulations, limited competent human resources, and high implementation costs. The practical implications of this research include the need for developing a sharia accounting framework that is adaptive to digital technology, comprehensive technical standardization, human resource capacity building through training and certification programs, and regulatory development that supports sharia accounting digitalization. This research contributes to the development of digital sharia accounting theory and provides practical guidance for stakeholders in implementing digital transformation that complies with sharia principles. The proposed framework integrates five main components: sharia principles as foundation, digital technology as enabler, accounting standards as guidelines, human resources as operators, and regulations as legal framework.
Sharia Accounting; Digitalization; Sharia Cooperatives; Zakat Institutions
Copyright (c) 2025 Nurul Awalia, Roslindah, Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
Analisis Mekanisme Penetapan Harga Jual dalam Perspektif Prinsip Ekonomi Syariah: Studi Kasus pada Pasar Modern di Kabupaten Bone
This research aims to analyze the suitability of the pricing mechanism applied by business actors in the modern market of Bone Regency with the principles of Islamic economics. The methodology used is a qualitative approach with a case study method. Data is collected through observation, in-depth interviews, and documentation from business actors and consumers. The results of the study indicate that most business actors have not fully applied the principles of Islamic economics in pricing. The use of an odd pricing system that does not align with the applicable currency denomination creates elements of uncertainty (gharar) and potential loss (dharar) for consumers. These findings emphasize the importance of applying principles of fairness, honesty, and transparency in pricing to create ethical transactions and enhance consumer trust in business actors.
Selling Price; Islamic Economics; Principles of Justice; Modern Market; Bone
Copyright (c) 2025 Aliyah Sri Huriyah Syakir, Haerul Nisa, Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
Konsep Laba Dalam Persepektif Syariah: Etis Terhadap Keberkahan Dan Keadilan Ekonomi Bagi Entitas Bisnis
In modern business practices, profit orientation is often only focused on quantitative aspects and profit maximization alone. However, in the perspective of sharia, profit has a broader meaning, namely as a result of business that is not only legally halal but also reflects blessings and justice. This study aims to examine the concept of profit from an Islamic perspective and how this ethical approach can be internalized in the management of sharia business entities. The methodology used is a literature study with a qualitative descriptive approach, examining primary sources such as the Qur’an and hadith as well as academic references related to sharia economics and accounting. The results of the study show that sharia business entities need to be the principles of honesty, justice, social responsibility, and blessings as a basis for obtaining and reporting profits. Thus, profit is not only an indicator of financial performance, but also a reflection of contribution to the welfare of the people and business sustainability in the corridor of Islamic values.
Sharia Profit, Islamic Business Ethics, Business Entities, Blessings, Economic Justice.
Copyright (c) 2025 Wiwik Aryanti, Hasni Syanda, Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
Optimalisasi Penerapan PSAK 109 dalam Meningkatkan Transparansi dan Akuntabilitas Laporan Keuangan Lembaga Sosial Islam
This study aims to analyze the role and challenges of implementing PSAK 109 on Zakat, Infak, and Sedekah and ISAK 35 on Waqf in the financial reporting of Islamic social institutions. This study uses a descriptive qualitative approach with a literature study method and documentation of regulations, financial reports, and relevant previous research results. This result show the implementation or application of these standards in various financial and non-financial institutions has not been running optimally. This can be caused by several factors, such as a lack of understanding of these standards, limited human resources who are competent in the field of sharia accounting, minimal training or socialization, and the absence of strict supervision of the implementation of these standards. As a result, the main objective of preparing these standards has not been fully achieved in the field. The findings show that the main obstacles come from limited human resources, minimal understanding of sharia standards, and lack of support for financial reporting technology. This gap risks reducing the quality of information conveyed to the public. Therefore, a strategy is needed to optimize the implementation of these standards so that Islamic social fund management institutions are able to meet regulatory aspects while building public trust professionally and with integrity. This study contributes to encouraging the improvement of the quality of sharia-based financial governance in Indonesia.
PSAK 109, Islamic Social Institution, Transparancy, Accountability
Copyright (c) 2025 Ekha Afriani, Nabila, Masyhuri (Author) https://creativecommons.org/licenses/by/4.0