Jurnal Ilmu Ekonomi dan Bisnis Islam published by the Sharia Economics Study Program, Faculty of Economics and Islamic Business, State Islamic University (UIN), Datokarama Palu. This journal comes out twice a year (June and December). The Jurnal Ilmu Ekonomi dan Bisnis Islam accepts the original manuscript in the Islamic field of economics, with the journal's scope covering the following areas: (1) Islamic economics: the study of the principles and applications of Islam's economy, including Islamic financial system, sharia banking, Sharia capital markets, and sharia insurance; (2) Islamic business: studies of the application of the principle of Islam in business management, marketing, human resources, and entrepreneurship; (3) Halal industry: studies on halal industries, including halal food industry, halal tourism, and halal fashion; (4) Zakat and charity: studies about the management and distribution of zakat and other forms of islamic charity; (5) Islamic social finance: study on the social financial role of Islam, including waqf, qardhul hasan, and sadqah, in support of socio-economic development; and (6) Islamic Financial Regulation: study of regulatory frameworks and policies related to Islamic finance. More specifically, the Journal of Islamic Economics and Business is aimed at the research and publication of articles related to the application of Islamic concepts and principles in the context of economics and business, as well as the role of Islamic social finance in supporting socio-economic development. The journal welcomes original research articles, literary reviews, conceptual studies, and case studies that contribute to the development of Islamic economics and business. The readers of the journal are academics, researchers, practitioners, and students interested in the field of economics and business in Islam. Journal Title : Jurnal Ilmu Ekonomi dan Bisnis Islam Abbreviation : JIEBI Frequency : 2 issues per year (June and December) Accredited : SINTA 2 DOI : Prefix 10.24239/jiebi by ISSN : 2686-6633 (Online) / 2962-0872 (Print) Editor-in-Chief : Nursyamsu ( Sinta ID | Google Scholar ) Publisher : Sharia Economics Department, Faculty of Economics and Islamic Business, UIN Datokarama Palu Language : English Citation Analysis : Google Scholar Indexing : Google Scholar | Garuda | Moraref | Crossref | Dimensions | DOAJ | EconBIZ
Program Studi Ekonomi Syariah, FEBI UIN Datokarama Palu
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Robo-Advisor Model Adoption: A Digital Transformation To Accelerate Continuance Usage of Islamic Banking Product
As Islamic banking becomes one of vital sectors in driving National economic growth, accelerating its development is prominent. The use of Robo-Advisor in this sector can help Islamic banking increase its existence and market share to compete in a global financial market. This research aims to conduct a model for the adoption of Robo-Advisor in Islamic banking sector to accelerate continuance intention usage of Islamic banking product in Indonesia by exploring the role of sharia financial literacy and halal awareness as mediating variables. This is explanatory research with quantitative and survey method. This research picks Islamic banking users in Indonesia, using quota sampling technique to achieve a representative sample in each province of Indonesia, resulting in 403 respondents. Structural Equation Model (SEM-PLS) is used to analyze the data and the relationship among variables. Empirically, the result revealed that the Robo-Advisor model adoption significantly accelerates the continuance intention usage of Islamic banking product in Indonesia. This research contributes in broadening horizon in terms of Islamic banking continuance usage by proposing integrated model. Furthermore, this research recommends the implementation of Robo-Advisor as a digital transformation for Islamic banking sector to support the growth of Islamic financial industry in Indonesia, remembering that Robo-Advisor is currently not used in either Islamic or conventional banking sectors.
Copyright (c) 2025 Reni Furwanti, Dini Maulana Lestari, Dhika Dzulkarnain Wibisono
An Integrated Model of Business Ethics and Halal Certification in Building Sustainable Customer Loyalty
This study examines how business ethics and halal certification jointly contribute to sustainable customer loyalty in the halal meat industry. Although prior research has explored ethical business conduct, halal certification, customer value, customer satisfaction, and customer loyalty, these constructs have rarely been integrated into a unified structural model grounded in Islamic economics and halal governance. Drawing on Islamic business ethics, maqāṣid al-sharīʿah, and relationship marketing theory, this study develops and tests a model linking business ethics, halal certification, customer value, customer satisfaction, and customer loyalty. Using a quantitative explanatory design, data were collected through an online questionnaire from 220 Indonesian consumers who had purchased halal-certified meat products and were analyzed using Covariance-Based Structural Equation Modeling (CB-SEM) with IBM SPSS AMOS. The findings show that business ethics and halal certification positively and significantly influence customer value and customer satisfaction. Customer value significantly enhances satisfaction, while customer satisfaction emerges as the strongest predictor of loyalty. This study contributes to the ethical and halal marketing literature by demonstrating that credible halal assurance and ethical conduct serve as strategic mechanisms for value creation, satisfaction, and sustainable customer loyalty
Copyright (c) 2026 Ihsan Basir, Syamsul Bachri, Ponirin, Muzakir
Poverty, Unemployment, Human Development, and Regional Economic Growth in South Sulawesi: Panel Evidence from an Islamic Economics Perspective
Regional economic growth does not always lead to poverty reduction, labor absorption, or equitable welfare improvement. This study examines the relationship between poverty, the open unemployment rate, the Human Development Index (HDI), and regional economic growth across twenty-four regencies/municipalities in South Sulawesi during 2021–2025. Using balanced panel data, the study applies panel regression analysis, with the Common Effect Model selected through model specification tests. Because diagnostic tests indicate heteroskedasticity and first-order autocorrelation, the final estimation employs White period standard errors with cross-section clustering. The results show that poverty has a negative but statistically insignificant relationship with regional economic growth, while the open unemployment rate and HDI are also statistically insignificant. These findings suggest that short-term regional growth in South Sulawesi is not sufficiently explained by poverty, unemployment, and human development indicators alone, but may beinfluenced by broader structural factors, including sectoral composition, investment, public expenditure, infrastructure, and local recovery capacity. From an Islamic economics perspective, this study highlights the need to orient regional development beyond output expansion toward distributive justice, poverty reduction, productive employment, and welfare-based growth.
Copyright (c) 2026 Muh Arafah, Anggun Suryani Hasmal, Azizi Abu Bakar, Nur Aliyah Rahma Saleh, Karina Kamista
A GIS Approach to Assessing the Accessibility of Zakat, Infaq, and Ṣadaqah Programs of LAZISMU D.I. Yogyakarta
The distribution of zakat, infaq, and ṣadaqah (ZIS) plays an important role in social welfare and poverty alleviation within Islamic social finance. However, previous studies have focused mainly on institutional efficiency, accountability, and transparency, while spatial accessibility and regional inequality in ZIS distribution remain underexplored. This study analyzes the spatial distribution and accessibility of ZIS beneficiaries managed by LAZISMU in the Special Region of Yogyakarta using a Geographic Information System (GIS)-based approach. Employing a descriptive quantitative method and QGIS-based spatial analysis, this study used the 2025 LAZISMU D.I. Yogyakarta beneficiary dataset, which includes addresses, program categories, assistance types, and aṣnāf classifications. Data processing involved cleaning, geocoding, spatial integration, overlay analysis, spatial aggregation, and choropleth mapping at the subdistrict level. The findings show that ZIS distribution is spatially uneven, with higher beneficiary concentrations in urban and institutionally accessible areas, while several peripheral regions remain underserved. This study contributes to Islamic social finance governance by positioning GIS as an evidence-based instrument for evaluating spatial accessibility, regional inequality, and equitable ZIS distribution planning.
Copyright (c) 2026 Safika Maranti, Sugiyarto Surono, Khusnul Khotimah
Sharia Banking and Sustainable Development Goals: An Empirical Analysis of Socio-Economic Indicators and Inclusive Growth in Aceh Province
This study examines whether Aceh’s mandatory Sharia financial system contributes to SDG-related socio-economic outcomes and inclusive growth during the 2020–2024 period. Although Aceh represents a distinctive jurisdiction-level case of Sharia finance, limited empirical evidence explains how Sharia banking intermediation and regional fiscal policy jointly shape welfare outcomes. This study analyzes balanced panel data from 21 districts/cities in Aceh, comprising 105 district-year observations, using fixed-effects models with robust standard errors applied where heteroskedasticity is detected. The results show that Sharia financing is significantly associated with lower unemployment, indicating its role in strengthening labor absorption through productive financial intermediation. The Financing-to-Deposit Ratio (FDR) is positively associated with the Human Development Index (HDI), suggesting that more active Sharia banking intermediation supports human development. However, regional government expenditure is positively associated with the Gini Ratio, revealing a fiscal paradox in which public spending appears insufficiently redistributive. The study concludes that Aceh’s Sharia financial transformation cannot rely solely on banking intermediation; it requires stronger alignment with inclusive fiscal governance. This research contributes to Islamic economics by showing that ethical financial transformation produces broader welfare effects only when supported by redistributive public policy.
Copyright (c) 2026 Arifa Pratami, Purwanto
Barakah, Falāḥ, and Iḥsāniyyah Rationality: Spiritual Entrepreneurship Among Muslim MSME Entrepreneurs in Tana Luwu, Indonesia
This study examines spiritual entrepreneurship among Muslim MSME entrepreneurs in Tana Luwu, Indonesia, by analyzing how barakah, falāḥ, and iḥsāniyyah rationality shape everyday economic practices. It addresses a gap in Islamic entrepreneurship studies, which remain largely normative and centered on formal urban business settings, leaving local religious community-based MSMEs underexplored. Using a descriptive qualitative design within an interpretive paradigm, data were collected through in-depth interviews, field observations, and documentation involving 20 Muslim MSME entrepreneurs selected through purposive sampling. Data were analyzed through reduction, presentation, and conclusion drawing, with credibility strengthened through source and methodological triangulation. The findings show that niyyah, amānah, iḥsān, tawakkul, and barakah orientation are embedded in business practices, shaping honesty, halal commitment, trust-based relationships, and resilience amid economic uncertainty. Business success is understood not merely as profit accumulation but as falāḥ-oriented well-being encompassing material, social, moral, and spiritual dimensions. The study introduces iḥsāniyyah rationality as an alternative model of economic rationality and offers a conceptual basis for value-based MSME development and social sustainability within local Muslim economic communities.
Copyright (c) 2026 Muhammad Alwi, Agung Zulkarnain, Iftidal Gunawan
Barakah Conversion Mechanism in Islamic Market Transactions: An Economic Anthropology Perspective on Value and Satisfaction
Islamic market transactions integrate economic, ethical, and spiritual dimensions that are not fully captured by conventional models of value and satisfaction. This study examines how barakah (divine blessing) shapes value and satisfaction in Islamic market transactions from an economic anthropology perspective. Existing studies on halal marketing and Islamic consumer behavior have largely treated religiosity and ethical attributes as predictors of trust or loyalty, while the lived mechanism through which spiritual values become embedded in market exchange remains underexplored. Using ethnography, data were collected through participant observation and in-depth interviews with Muslim traders and consumers in the Ampel religious tourism district of Surabaya, Indonesia. The findings show that barakah operates as a moral-economic mechanism linking spiritual commitment to trust, satisfaction, business continuity, and redistributive consumption. Traders enact barakah through honesty, transparency, and halal integrity, while consumers interpret these practices as signs of religious accountability, strengthening satisfaction and repeat patronage. The study also finds that taṣarruf (purposeful spending) connects functional consumption with spiritual intention and informal redistribution. This study contributes to Islamic economics by positioning barakah as a lived market mechanism that strengthens ethical authenticity, consumer trust, and long-term resilience in Islamic business practice.
Copyright (c) 2026 Siti Musfiqqoh, Sukamto, Nur Kholis
Financial Literacy as a Mediator: Entrepreneurial Orientation and Fintech Adoption on MSME Financial Performance in Kediri
Despite the growing adoption of financial technology and entrepreneurial practices among MSMEs, limited attention has been given to the mechanisms through which these capabilities improve financial performance. This study examines the role of financial literacy as a mediating mechanism linking entrepreneurial orientation, fintech adoption, and MSME financial performance in Kediri City. Using a quantitative explanatory approach, data were collected from 195 MSMEs and analyzed using PLS-SEM. The findings show that entrepreneurial orientation positively affects financial literacy but does not directly affect financial performance. In contrast, fintech adoption has a significant direct effect on both financial literacy and financial performance. Financial literacy significantly improves financial performance and serves as a full mediator between entrepreneurial orientation and financial performance, and as a partial mediator between fintech adoption and financial performance. The study concludes that financial literacy is a key mechanism through which entrepreneurial and technological capabilities are translated into financial outcomes. This study contributes to MSME performance literature by integrating financial literacy into a mediation framework and offers practical implications for policymakers, financial institutions, and fintech providers in strengthening financial capability, digital adoption, and inclusive MSME empowerment.
Copyright (c) 2026 Ahmad Munif, Ahmad Yani, Ahmad Idris, Galuh Nuril Lathifah
Al-Ḥisbah and Sharia Market Supervision: A Qualitative Study From Traders’ and Consumers’ Perspectives
This study examines the role of al-ḥisbah as a market supervisory institution from the perspectives of traders and consumers, addressing the limited empirical evidence on dual-actor perspectives in contemporary Sharia markets. It focuses on the functions of al-ḥisbah in ensuring transactional fairness, preventing fraudulent practices, and upholding Sharia principles in trading activities. Using a qualitative descriptive approach, data were collected through fieldwork at the Ulul Albab Sharia Market in Kampar Regency, Indonesia, involving in-depth interviews with five traders and five consumers, participatory observation, and documentation. Data analysis followed an interactive model comprising data reduction, data display, and conclusion drawing. The findings reveal that al-ḥisbah is perceived as a moral overseer and regulator of market ethics, playing a crucial role in fostering trust between traders and consumers. Traders associate its presence with fair competition and price transparency, while consumers perceive stronger protection against fraud and product quality manipulation. Nevertheless, the implementation of al-ḥisbah faces challenges related to limited human resources, insufficient socialization, and the need to adapt supervisory mechanisms to modern trade systems. This study underscores the importance of strengthening institutional capacity and integrating digital technologies into market supervision to enhance the effectiveness and sustainability of al-ḥisbah in the digital era.
Copyright (c) 2025 Henry Martin Adriansyah, Mohd Winario
Empowering Women Through Islamic Philanthropy: An Exploration on Islamic Social Finance Towards Women’s Employment In Nigeria
Women’s unemployment remains a critical challenge in many Muslim-majority regions, including Northern Nigeria, where socio-cultural barriers and limited access to financial resources constrain women’s economic participation. Despite growing discourse on Islamic social finance, empirical evidence on its effectiveness in promoting women’s employment remains limited, particularly at the regional level. This study examines the impact of Islamic philanthropic instruments, Zakat, Waqf, and Sadaqah, on women’s employment outcomes in Northern Nigeria. Using a quantitative approach, primary data were collected from 400 women beneficiaries of Islamic social finance programs and analyzed with Ordinary Least Squares (OLS) regression. The findings indicate that access to Zakat, participation in Waqf initiatives, and receipt of Sadaqah have positive and statistically significant effects on women’s employment rates. Education level and household income are also strongly associated with improved employability. These results suggest that Islamic social finance serves not only as a redistributive mechanism but also as a strategic tool to enhance women’s labor market participation and economic empowerment. This study contributes to the literature on Islamic economics and development by providing empirical evidence from an underexplored context and explicitly linking Islamic philanthropy to employment outcomes. Furthermore, the findings offer policy-relevant insights for governments, religious institutions, and philanthropic organizations in designing gender-responsive Islamic social finance initiatives to support sustainable employment and inclusive economic development
Copyright (c) 2025 Tijjani Muhammad, Fahd Al-Shaghdari
Visual Analysis of The ḤQM Model And Prospects for Authentic Innovation In Islamic Finance
The aim of this study is to show, through the conceptual system ḤQM (Ḥ: ḥukm, Q: qāʿidah, M: maqṣad), the need to deepen our understanding of authentic innovation in Islamic finance. This study argues that prevailing debates on Islamic financial products are dominated by dichotomous notions grounded in linear modes of thinking, which constrain substantive discussion and hinder the development of credible and sustainable solutions. The main findings reveal that when the teleological discourse on the purposes of Sharīʿah is itself framed within linear reasoning, it cannot legitimately be regarded as the highest intellectual achievement of Islamic civilization. Furthermore, incorporating the dimension Q (qāʿidah) enables the dismantling of rigid categorization and hierarchization that characterizes much of the literature polarized between Ḥ and M. By emphasizing the two-dimensional nature of graphs, distinct from the linearity of written discourse, the graphical visualization of the ḤQM conceptual model opens new analytical possibilities, particularly in the domain of data visualization and non-linear reasoning. In addition, the science of jurisprudential maxims allows the formulation of general rules whose epistemological significance lies in the dynamic interaction between parts and wholes. The dominance of linear approaches in the financial industry has produced adverse outcomes, including mimetic and constrained innovation, excessive reliance on standardized products, and the suppression of proactive and systemic innovation. Accordingly, this study concludes that genuinely innovative Islamic finance requires a non-linear approach that integrates interaction, shared risk, and real asset backing, while coherently aligning injunctions, maxims, and the higher objectives of Sharīʿah.
Optimization and Transparency of Village Fund Management: An Islamic Economic Perspective
Optimizing and ensuring transparency in the management of Village Funds is essential for promoting community development and social well-being; however, these efforts are frequently undermined by misuse and corruption. Although Islamic economics offers a robust ethical framework grounded in justice, trust, and public interest, existing studies largely examine village fund management from a general perspective and rarely integrate Islamic economic principles, particularly within the specific context of Aceh Province. This descriptive qualitative study aims to analyze the optimization and transparency of village fund allocation from an Islamic economic perspective in Lampisang Dayah Village, Aceh Besar. Data were collected through direct observation, document analysis, and in-depth interviews with nine village officials and five community members selected using snowball sampling. The findings indicate that village fund management in Lampisang Dayah Village has reached an optimal and transparent level consistent with Islamic economic principles. Optimization is reflected in participatory planning processes that involve the community, including women, as well as in the implementation of pro-welfare programs such as Direct Cash Assistance and food security initiatives that support the public good. Transparency is realized through regular financial reporting to local authorities and the provision of accessible project information boards for the public. Nevertheless, challenges remain in expanding fund capacity for long-term infrastructure development and strengthening women’s active participation. This study contributes theoretically and practically to the discourse on equitable and sustainable village fund management and offers a contextual model that may be replicated in other villages.
Copyright (c) 2025 Wilda Marjana, Cut Dian Fitri, Rina Desiana
Interpreting Qur’anic Verses on Contract Through The Lens of Socio-Economic Exegetical Approach
This article seeks to develop Islamic economic studies through the perspective of Qur’anic economic interpretation by positioning interpretation as a primary methodological framework in the development of Islamic economics. Qur’anic interpretation is not treated merely as a textual approach to scriptural verses, but as an analytical instrument that connects divine messages with contemporary socio-economic realities. Despite the growing discourse on Islamic economics, existing studies largely treat Qur’anic interpretation as a normative reference rather than as a systematic methodological framework for socio-economic analysis. This study adopts the adabī al-ijtimāʿī wa al-iqtiṣādīyah approach, which emphasizes the social and economic relevance of the Qur’anic text, and applies a thematic (maudhuʿī) method involving the identification of contract-related verses, linguistic analysis, and examination of the chronology of revelation within the socio-economic context of the ummah. The findings indicate that the concept of contract plays a central role in maintaining the balance of social relations and economic transactions. Furthermore, the study demonstrates that contracts entail binding legal implications from both a Sharīʿah (normative–religious) and a positive (practical–institutional) perspective within the Islamic economic system. This study contributes conceptually by strengthening Qur’anic interpretation as a methodological foundation for Islamic economic analysis.
Copyright (c) 2025 Achmad Nur Alfianto, Roma Wijaya
Reconciling Scalping With Islamic Principles: A Qualitative Study on Stock Trading In Malaysia
Scalping, a high-frequency trading strategy characterized by rapid buy-and-sell transactions to capture small price movements, has become increasingly common in modern stock markets. Its legitimacy under Islamic commercial jurisprudence (fiqh muʿāmalāt), however, remains debated due to potential elements of maysir (gambling), gharar (excessive uncertainty), and bayʿ al-najash (deceptive bidding). Addressing the lack of focused research on this issue within Malaysia’s Islamic capital market, this study employs a qualitative descriptive approach through document analysis of classical jurisprudential texts, contemporary academic literature, and regulatory fatwas issued by recognized Shariah authorities. Using the takyīf fiqhī method, the analysis examines the ethical and legal dimensions of scalping to determine whether it conforms to Shariah principles. The findings reveal that although scalping carries speculative elements, it may be considered conditionally permissible (mubāḥ) when conducted transparently, guided by informed analysis, and devoid of manipulative intent. The study concludes that scalping is not inherently prohibited in Islam but requires ethical discipline and regulatory oversight to prevent exploitation. The research contributes to refining Shariah-compliant trading practices, offering practical implications for Muslim investors, Shariah scholars, and regulators in strengthening ethical governance within Malaysia’s dynamic Islamic financial system.
Copyright (c) 2025 Hanafi Nazri, Nik Abdul Rahim Nik Abdul Ghani
Short-Term Shocks and The Resilience of Islamic Stocks: Evidence From The Dow Jones Islamic Turkey Index
This study examines how internal factors exchange rates, interest rates, and inflation and external variables global oil and gold prices, the 2008 financial crisis, and the COVID-19 pandemic affect the performance of Shariah-compliant stocks listed on the Dow Jones Islamic Turkey Index. Although Islamic equity markets are gaining prominence, limited research addresses their response to macroeconomic shocks, particularly in emerging economies. This study aims to fill that gap by evaluating both short-term and long-term effects of selected variables using monthly data from January 2007 to September 2024. The Autoregressive Distributed Lag (ARDL) model is employed to identify cointegration and dynamic relationships. The results indicate a long-run equilibrium among variables but show no significant long-term effects on index performance. In contrast, short-term analysis reveals that exchange rate fluctuations and the COVID-19 pandemic significantly and negatively affect Islamic stock performance, with respective impacts of 48% and up to 14%. The findings suggest that while Islamic stocks demonstrate resilience over time, they remain vulnerable to short-term shocks. This highlights the critical role of exchange rate volatility and pandemic-driven uncertainty in shaping investor confidence. The study contributes to Islamic finance literature by offering empirical insights into how macroeconomic dynamics influence Islamic stock indices and provides practical guidance for investors and policymakers aiming to enhance risk management and develop resilient investment strategies in Shariah-compliant markets.
Transforming Personal Selling Through Qur'anic Ethical Principles In Marketing Communication
Personal selling plays a central role in marketing communication, particularly in building long-term relationships with customers. However, existing approaches often emphasize transactional goals over ethical engagement, creating a gap between persuasive communication theory and its practical application in the field. This study aims to address this gap by integrating Qur’anic ethical principles qaulan baligha (effective speech), qaulan layyina (gentle speech), and qaulan karima (noble speech) into personal selling strategies. Using a qualitative approach based on library research and thematic interpretation of selected Qur’anic verses, the research constructs an ethical framework for communication in marketing. The findings demonstrate that each principle offers distinct communicative value: qaulan baligha enhances clarity and emotional depth, qaulan layyina fosters empathy and polite persuasion, and qaulan karima emphasizes dignity and respect. These values are mapped systematically to the stages of the personal selling process, from prospecting to follow-up, offering a structured and ethical alternative to conventional selling tactics. The study concludes that integrating Qur’anic principles into personal selling not only improves communicative effectiveness but also aligns marketing practices with spiritual and ethical values. This contributes to the development of Islamic marketing theory and provides practical guidance for marketers seeking to build trust, customer loyalty, and sustainable business relationships rooted in ethical communication. Future research is recommended to empirically validate the proposed model across different market contexts.
Copyright (c) 2025 Syarifuddin Syarifuddin
Waqf and Microfinance Integration Strategy In Improving Welfare Through Community Economic Empowerment
Poverty and economic inequality remain persistent challenges in Indonesia, particularly in underdeveloped regions. Although waqf and microfinance have individually contributed to poverty alleviation, limited studies have examined their integrated application for sustainable community empowerment. This study addresses that gap by investigating how the Al-Qur’an Waqf Agency (BWA) and the Micro Waqf Bank (BWM) integrate waqf and microfinance to improve community welfare. The objective is to analyze the strategies, outcomes, and sustainability of their programs in supporting micro and small enterprises. Using a qualitative field research method, data were collected through purposive sampling and in-depth interviews with institutional stakeholders and beneficiaries. Inductive analysis was employed to identify key themes and patterns. The findings indicate that the integration of waqf and microfinance enhances access to capital, improves financial literacy, and strengthens microenterprises, particularly in remote areas. Offline initiatives such as da’wah campaigns are complemented by digital platforms, significantly expanding outreach and public engagement. The study concludes that combining Islamic philanthropy and microfinance offers an effective model for inclusive and sustainable economic development. The implications highlight the need to strengthen digital infrastructure, enhance financial education, and foster multi-stakeholder collaboration. This research contributes to policy formulation and practical strategies for leveraging Islamic social finance to address structural poverty and build resilient local economies.
Copyright (c) 2025 Siti Darajatun, Makhrus
Establishing Economic Empowerment System Through Mosque Based Community
Mosques serve not only as places of worship but also as centers for education, social cohesion, and community welfare. Despite this, their potential role in economic empowerment remains significantly underexplored. Addressing this gap, the study aims to develop a holistic, mosque-based economic empowerment model that aligns with Islamic values and responds to contemporary socioeconomic challenges. The research adopts a qualitative conceptual methodology, synthesizing insights from secondary sources including academic literature and institutional reports on Islamic finance, governance, and community development. The resulting framework is structured around five key stages: community needs assessment, resource mobilization, program development, implementation and monitoring, and long-term sustainability. Findings emphasize the integration of core Islamic principles justice, equity, participation, rewards, and mutual aid (ta’awun) within the broader dimensions of faith (iman), knowledge (‘ilm), and social action (‘amal). The study concludes that mosques can serve as dynamic hubs for inclusive economic growth when empowered with strategic planning and institutional capacity. Its contributions lie in bridging theoretical gaps in mosque-led development models and offering actionable insights for policymakers, mosque administrators, and community stakeholders. The study also highlights the need for future empirical validation to test the model’s adaptability across different cultural and institutional contexts.
Copyright (c) 2025 Iqbal Imari, Mahendra Utama Cahya Ramadhan
Halal Industry Growth: Economic Opportunities And Challenges In Global Markets
The halal industry has emerged as a significant driver of global economic growth, extending beyond food and beverages to encompass sectors such as finance, tourism, cosmetics, and pharmaceuticals. Despite its rapid expansion, academic literature remains limited in assessing the industry's comprehensive macroeconomic contributions across diverse regions. This study aims to examine the economic impact and growth dynamics of the global halal industry by identifying its most prominent sectors and emerging market opportunities. Utilizing a Systematic Literature Review (SLR) guided by the PRISMA framework, the study synthesizes findings from peer-reviewed journals, industry reports, and institutional data published between 2014 and 2024. The analysis indicates that halal food and beverages remain the dominant contributors to economic output, while halal tourism, modest fashion, cosmetics, and pharmaceuticals exhibit substantial growth potential. The industry contributes significantly to GDP, employment generation, and foreign investment, particularly in countries such as Malaysia, Indonesia, and the United Arab Emirates. However, challenges persist, including regulatory fragmentation and limited technological integration. The findings highlight the need for harmonized global halal standards, enhanced investment in infrastructure, and the adoption of digital innovations to strengthen the industry's global competitiveness. This study advances the academic discourse by offering a comprehensive economic perspective on the halal industry and provides actionable insights for policymakers, industry stakeholders, and investors.
Copyright (c) 2025 Ririn Noviyanti, Rahmad Hakim
The Role of Zakat, Economic Growth, and Human Resource Quality In Indonesian Inequality
This study investigates the partial and simultaneous influence of Zakat, Infaq, and Sadaqah (ZIS), economic growth, and human resource quality on income inequality in Indonesia from 2013 to 2023. Addressing the research gap in prior studies that typically examined these factors in isolation, this research employs a quantitative approach using multiple linear regression analysis to evaluate annual time-series data. The independent variables include ZIS distribution, economic growth, and the Human Development Index (HDI), while the dependent variable is the Gini index. The findings reveal that individually, none of the three variables significantly affect income inequality. However, when assessed simultaneously, they exhibit a statistically significant impact, suggesting a complementary role in reducing inequality. ZIS and HDI display a negative correlation with inequality, indicating potential in mitigating disparities, while economic growth correlates positively. These results imply that zakat alone is insufficient and must be integrated with inclusive economic policies and human capital development to effectively address inequality. The study contributes to the discourse on Islamic economic instruments and offers policy insights for leveraging zakat as part of a broader socio-economic strategy.
Copyright (c) 2025 Dharma Yanti, Siti Fatahiyah Mahamood
Rethinking Money and Budget Lines: A Comparative Study of Secular and Islamic Economic Rationality
This study addresses the fundamental differences between secular and Islamic economic concepts of money and its usage, highlighting a research gap in understanding these paradigms. The objective is to analyze the concept of money from both perspectives and link it to rational Islamic solutions for achieving optimal welfare. Employing a qualitative methodology through library research, the study illustrates the application of these concepts with case examples. Findings reveal that in secular economics, money is viewed as a commodity that serves as a store of wealth and capital. In contrast, in Islamic economics, money is regarded as a public good that should facilitate productive transactions under Sharia principles. The research concludes that rationality in Islamic economics emphasizes not only utility maximization but also the maximization of social welfare, where optimal consumption occurs when the Sharia-compliant budget line intersects with the highest iso-maslahah curve. This study contributes to a deeper understanding of the differences in economic paradigms and their implications for Islamic financial policy, asserting that the Islamic economic system offers solutions based on values of blessing and social welfare. The findings encourage further exploration of the practical application of Sharia budget lines in contemporary economic decision-making.
Copyright (c) 2024 Luluk Latifah, Salameh alkhazaleh
Islamic Service Regulations for Optimizing Halal Tourism Potential in Pangandaran Based on The West Java Governor's Regulation and Halal Tourism Guidelines
Pangandaran Regency holds considerable potential to emerge as a prominent halal tourism destination, supported by places of worship, halal cuisine, Islamic boarding school-based creative economies and halal accommodations. Despite these assets, the absence of specific regulations governing halal tourism hinders full optimization. Presently, Pangandaran relies on broader frameworks like West Java Governor Regulation Number 1 of 2022 on Sharia Economy and Finance Development, along with the 2019 West Java Halal Tourism Guidelines. This study explores the application of Islamic service ethics as a tailored regulatory approach to foster halal tourism growth in Pangandaran. It also aims to identify implementation challenges and propose viable solutions. The research uses qualitative methods to draw from regulatory analysis, interviews, questionnaires, observations, and documentation. The theoretical framework incorporates contemporary maqashid Sharia, legal change theory, maslahah mursalah, and halal theory. Findings reveal that integrating Islamic service ethics can effectively serve as a specialized regulation to unlock Pangandaran's halal tourism potential. This approach enhances security, comfort, and appeal for Muslim tourists, aligning with their religious values. Furthermore, the study underscores the broader economic benefits of halal tourism, offering a scalable regulatory model applicable to other regions with similar potential. The implications of this research extend to Islamic economics by promoting Sharia principles within the tourism sector, driving economic growth, and positioning Pangandaran as a leading halal tourism hub. This initiative bolsters local development and contributes to the overarching vision of integrated halal tourism in Indonesia.
Copyright (c) 2024 Hisam Ahyani, Naeli Mutmainah , Naeli Mutmainah , Nurul Ilyana Muhd Adnan, Hasanah Abd Khafidz, Ending Solehudin, Miftakhul Huda, Agus Munjirin Mukhotib Lathif
The Impact of Sharia Economics on The Vision of A Golden Indonesia 2045
This study aims to explore the potential of Sharia economics in supporting sustainable economic growth and resilience in Indonesia, particularly in the context of the Golden Indonesia 2045 vision. Despite existing research focusing on specific aspects of Sharia economics, such as its impact on MSMEs, poverty reduction, or Fintech, there remains a gap in comprehensively assessing its long-term contribution to national development. This research addresses this gap by offering a holistic analysis of how Sharia economic principles can foster financial inclusion, poverty alleviation, and economic resilience while providing policy recommendations for expanding its role in Indonesia's broader development strategy. The study employs a literature review as the primary research method, analyzing relevant academic journals, books, policy reports, and official documents. The findings suggest that Sharia economics, through instruments such as microfinance, MSME financing, zakat, and productive waqf, can drive inclusive and sustainable economic growth. Also, halal industries and Islamic tourism offer significant opportunities to expand Indonesia's economic base and enhance its global competitiveness. However, limitations such as the lack of primary data (e.g., surveys or interviews) to evaluate the direct impact of Sharia economics on community welfare highlight areas for future research. Further studies integrating primary data and comparative analysis with other countries can provide deeper insights into optimizing Sharia economics for Indonesia’s future development.
Copyright (c) 2024 Aly Hidayat, Wahyu Akbar, Mawar Ardiansyah, Elly Adriana Binti Ibrahim
Determinants of Macroeconomic Indicators on The Level of Collection of Zakat, Infaq, Sadaqah (ZIS) Funds in BAZNAS 2005-2023 VECM Approach
The researcher wants to examine the focus on inflation, GDP, and exchange rates, which are macroeconomic factors that influence the economy in the collection of ZIS funds in Baznas from 2005 to 2013, using the VECM approach. This type of research uses a quantitative approach. The data used is quantitative data obtained from secondary sources. This research approach uses an analytical method, namely the Vector Error Correction Model (VECM) with Eviews 12. The data used in this research is data from the Central Statistics Agency (BPS), the World Bank, the National Zakat Amil Agency (BAZNAS), and other literature discussing the relevant research material. This research shows no short-term relationship between the independent variables (Inflation and Exchange Rates) and the dependent variable (ZIS fund collection at Baznas) in 2005-2023. Meanwhile, there is a short-term relationship for the independent variable (Gross Domestic Product). However, there is a long-term relationship between the independent variables (Inflation and Exchange Rates) and the dependent variable (ZIS fund collection at BAZNAS) in 2005-2023. The independent variable (Gross Domestic Product) does not have a long-term relationship, and simultaneously, the inflation, exchange rate, and PDB variables significantly affect the collection of ZIS funds at BAZNAS.
Copyright (c) 2024 Andriansyah Bastian, Erike Anggraeni, Gustika Nurmalia
Systematic Literature Review (SLR): Analysis of Factors Influencing Interest in Opening A Hajj Savings Account at Bank Syariah Indonesia
This study aims to analyze the factors that can influence a person's interest in saving for Hajj at Bank Syariah Indonesia. The analysis of these factors can later become a reference for Bank Syariah Indonesia to carry out marketing strategies appropriately and efficiently. This study uses a qualitative method with a Systematic Literature Review using the Publish or Perish application to analyze various journals following the researcher's topic on Google Scholar. Journals are selected using the Systematic Search and Screening method through a systematic search strategy process, effective use of keywords, application of inclusion and exclusion criteria, and a gradual screening process to select the most relevant articles. The analysis results show that promotion, customer service, and religiosity are considered more significant in influencing a person's interest in saving for Hajj. In addition, several other factors influence a person's interest in opening a hajj savings account at Bank Syariah Indonesia. These findings provide insight or can be used as evaluation material to develop appropriate strategies for Bank Syariah Indonesia to increase public interest in opening hajj savings.
Copyright (c) 2024 Fadila Afri Rahmawati, Mochammad Andre Agustianto
Economic Welfare on Justice, Faith And Blessing Based on The Qur'anic Perspective
This research discusses the relationship between faith, justice, and blessings in achieving economic welfare from an Islamic perspective. Using the conceptual study method, this research relies on primary sources in the form of tafsir books by Rafiq Yunus Almasri, Muhammad Ghazali, Johan Efendi, and Quraish Shihab, as well as secondary sources from articles discussing economic welfare from an Islamic perspective. The analysis results show that faith serves as a spiritual foundation that encourages the application of justice principles in economic transactions, while blessings reinforce the success of achieving sustainable prosperity. Additionally, applying Islamic principles in daily life has proven important for creating sustainable social and economic justice. This research also found hope in raising awareness among Muslims about the importance of justice, faith, and blessings in the context of the modern economy to drive positive change and strengthen the overall quality of life in society. Thus, integrating Islamic teachings into the economy is expected to create a prosperous and just society.
Copyright (c) 2024 Ian Alfian, Azhari Akmal Tarigan, Rahmi Syahreza, Ahmad Riyansyah Parinduri
Does Social Media Content Affect Cash Waqf Literacy and Interest in Paying Cash Waqf Among Gen Z?
Waqf social institutions continue to promote waqf literacy through their social media accounts to ensure that the public, especially the younger generation, can understand and develop an interest in Waqf. This study aims to determine how much cash waqf literacy and the social media content of waqf institutions influence the interest in giving cash waqf among Generation Z in Indonesia. The research method was quantitative, with primary data from 201 respondents using purposive sampling. The data analysis model in this study employs the Structural Equation Model Partial Least Square (SEM-PLS). The results indicate that 73 individuals, or 36.3% of Generation Z, have engaged in cash waqf. The study also shows that cash waqf literacy and social media content each have a partial positive and significant impact on the interest in paying cash waqf among Generation Z. Furthermore, the variable of social media content has a positive and significant impact on the interest in giving cash waqf through cash waqf literacy among Generation Z. This research suggests that waqf institutions should enhance and improve their social media content to increase cash waqf literacy, which could further boost interest in cash waqf.
Copyright (c) 2024 Fajar Andrian Sutisna, Hilman Maulana Akbar, Nabiela Rizki Alifa
Islamic investments have become the focus of increasing attention in discussions regarding sustainable development as part of efforts to promote more responsible and inclusive economic practices. In this context, this research investigates the link between sustainability and Sharia investment and its implications for sustainable investment practices. Integrating sustainability values into Sharia investment practices has been highlighted as a significant contributor to achieving sustainable development goals. Aligns with the principles of justice, social responsibility, and sustainable environmental management inherent in Sharia. The study also sheds light on various Sharia investment instruments championing sustainable development. With a holistic approach, Sharia investment emerges as a powerful tool for fostering inclusive economic growth, promoting environmental stewardship, and enhancing social welfare.
Copyright (c) 2024 Kurniati Yunus, Erwan Setyanoor, Abdurrahman Mansyur
Conceptualizing the Young Women Social Entrepreneurship Phenomenon in al-Madinah al-Munawarah
Social entrepreneurship has become a global trend, and in Saudi Arabia, it is gaining traction among public authorities, financial institutions, young people, and academics. Despite its growing popularity, scientific publications on the subject remain limited. This study aims to conceptualize the phenomenon of young women's social entrepreneurship in Al-Madinah Al-Munawarah, the cradle of Muslim civilization and Islamic charity. Based on the field experience of Basiqāt Waqf, which trained 128 young women from 2020-2022 in personal development and entrepreneurial excellence using the Personal Development Analysis (PDA) tool, the study finds existing models insufficient to capture the multidimensionality of this phenomenon. A key factor identified is the intrinsic pleasure young women derive from engaging in social entrepreneurship projects that sustainably improve the quality of life in the holy city. The challenge lies in identifying what these women love doing while being beneficial to others. Despite limitations, this study aids stakeholders in better coordinating efforts to promote social entrepreneurship among young women in Madinah beyond merely creating a competitive or attractive ecosystem. Data from 2023-2024 indicate that many of these trained women actively participate in the Basiqat project, particularly in organizing the breaking of the Ramadan fast at the Prophet's Mosque.
Copyright (c) 2024 Abderrazak Belabes, Badreyah Alhejaili
Determinan of Invesments Interest in Sharia Digital Mutual Funds Among Generation Z In Langsa City
Generation Z faces a series of challenges, including limited financial resources, yet the demographic of investors in the Indonesian capital market is predominantly composed of Generation Z, including in Langsa City. This research aims to uncover determinants, including the influence of factors such as investment knowledge, celebrity endorsement, and word of mouth, on the investment interest of Generation Z in Langsa City in Shariah digital mutual funds. This study employs quantitative research methods, collecting data through a questionnaire with a sample of 110 respondents and analyzing it using the SPSS application with multiple linear regression. The t-test results indicate that the investment knowledge factor has a t-value of 5,894, surpassing the t-table value 1.659, with a significance level of 0.000 ≤ alpha 0,05, thus accepting H1. The t-value for the celebrity endorsement factor is 3,705, exceeding the t-table value of 1.659, with a significance level of 0,000 ≤ alpha 0,05, accepting H2. The t-value for word of mouth is -0,269, surpassing the t-table value of 1.659, with a significance level of 0,788 ≤ alpha 0,05, rejecting H3. Therefore, the results of this study indicate that investment knowledge and celebrity endorsement significantly influence the investment interest of Generation Z in Langsa City in Shariah digital mutual funds. At the same time, word of mouth does not significantly impact.
Copyright (c) 2024 Fahriansah, Ajran Nura, Khairatun Hisan, Farhah, Rahmat Mulia