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All Journal Jurnal Kajian Islam Modern Jurnal Perbankan Syariah Darussalam (JPSDa) Sharing: Journal Of Islamic Economics, Management And Business
Azifah Hidayati
Universitas Islam Negeri Mahmud Yunus Batusangkar
Religion Chemistry Economics, Econometrics & Finance Public Health Social Sciences

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Analisis Metode Perataan Penghasilan Dan Refinancing Dalam Manajemen Keuangan Perusahaan: Perspektif Teori Agensi Dan Prinsip Syariah Gilang Ahdi Ramadhan; Syukri Iska; Azifah Hidayati
Sharing: Journal of Islamic Economics Management and Business Vol. 5 No. 2 (2026): Juni, 2026
Publisher : Program Studi Ekonomi Syariah Fakultas Agama Islam Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/sharing.v5i2.59410

Abstract

This study aims to analyze the concepts, methods, driving factors, benefits, risks, and ethical implications of income smoothing and refinancing from the perspective of agency theory and sharia principles. The study used a descriptive qualitative method with a Systematic Literature Review (SLR) approach to 47 national and international journal articles published between 2001 and 2026. Data sources were obtained from the Scopus, Web of Science, Google Scholar, and DOAJ databases. The results show that income smoothing can increase the perception of company stability and reduce the cost of capital, but has the potential to reduce the quality of accounting information and create legal risks if carried out excessively and without transparency. Meanwhile, refinancing has been proven to improve financial structure and increase the efficiency of the cost of capital, although it can increase leverage if not managed carefully. From a sharia perspective, both strategies are permissible as long as they do not contain elements of usury, gharar, or fraud, and still uphold transparency and fairness. Therefore, their implementation needs to be supported by good corporate governance, effective risk management, and compliance with financial reporting standards.
TRANSFORMASI DAN IMPLEMENTASI PRODUK PEMBIAYAAN NON BAGI HASIL DALAM PERBANKAN SYARIAH DI INDONESIA: STUDI SYSTEMATIC LITERATURE REVIEW ATAS AKAD HAWALAH, RAHN, DAN QARD: TRANSFORMASI DAN IMPLEMENTASI PRODUK PEMBIAYAAN NON BAGI HASIL DALAM PERBANKAN SYARIAH DI INDONESIA: STUDI SYSTEMATIC LITERATURE REVIEW ATAS AKAD HAWALAH, RAHN, DAN QARD Azifah Hidayati; Syukri Iska; Fandi Ahmad Marlion
JURNAL KAJIAN ISLAM MODERN Vol 14 No 02 (2026): Juni 2026
Publisher : Institut Agama Islam Sahid (INAIS) Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56406/jkim.v14i02.1035

Abstract

This article presents the results of a Systematic Literature Review (SLR) to analyze the transformation, implementation, challenges, and opportunities of non-profit-loss sharing financing products in Islamic banking in Indonesia, with a specific focus on ḥawālah, rahn, and qard contracts. This study aims to explore the evolving dynamics of non-profit-loss sharing financing instruments, examine their compliance with Sharia principles, and identify structural as well as operational challenges in their implementation within Islamic financial institutions. This research employs a qualitative SLR approach by reviewing scholarly publications from 2019 - 2024, sourced from reputable databases such as Scopus, ScienceDirect, and Google Scholar. Using the PRISMA protocol, a total of N = 20 relevant articles were systematically selected and analyzed, revealing a significant growth of approximately 65% in publications since 2021, indicating increasing academic attention to non-profit-loss sharing financing. The key findings indicate a significant shift from social-oriented (tabarru’) functions toward commercial (tijarah) orientations, particularly in the implementation of rahn. Meanwhile, ḥawālah remains underutilized despite its potential role in liquidity management and debt restructuring. On the other hand, qard continues to play a crucial role in promoting financial inclusion, although it faces sustainability constraints in terms of funding sources. However, the study also identifies major challenges, including a trade-off between Sharia compliance, operational efficiency, and financial sustainability, as well as weak integration of risk management and Sharia-based governance frameworks. The effectiveness of these financing products heavily depends on strengthening Sharia governance, enhancing product innovation, and improving Islamic financial literacy among the public. The main contribution of this study lies in emphasizing that the development of non-profit-loss sharing financing products requires an integrative approach grounded in maqāṣid al-sharī‘ah, ensuring that financial practices are not only profit-oriented but also aligned with broader socio-economic welfare and justice objectives.
Epistemologi, Ontologi, Dan Aksiologi Ilmu Ekonomi Islam Dalam Kerangka Falsafah Ekonomi Syariah Fitri Bahreni; Syukri Iska; Azifah Hidayati; Fandi Ahmad Marlion
JPSDa: Jurnal Perbankan Syariah Darussalam Vol. 6 No. 1 (2026): Januari 2026
Publisher : Institut Agama Islam Darussalam Blokagung Banyuwangi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30739/jpsda.v6i1.4705

Abstract

Islamic economics emerges as an alternative paradigm that offers a value-based philosophical foundation through the integration of epistemology, ontology, and axiology within the framework of Islamic economic philosophy. This study aims to conceptually examine the epistemological, ontological, and axiological dimensions of Islamic economics and their integration as the foundation for the development of Islamic economic thought. Employing a qualitative descriptive approach with a library research method, the data were derived from the Qur’an, Hadith, and contemporary academic literature relevant to Islamic economics and the philosophy of science. The findings indicate that the epistemology of Islamic economics is integrative, positioning revelation as the primary source of knowledge that guides reason and empirical inquiry; its ontology views economic reality as a holistic system grounded in the principle of tawhid, in which humans function as both servants (‘abd) and vicegerents (khalifah); while its axiology is oriented toward the realization of falah through the values of justice, balance, trust, and public welfare. The integration of these three dimensions within Islamic economic philosophy affirms that Islamic economics is not merely a technical or pragmatic alternative to conventional economics, but a value-driven and ethical discipline aimed at achieving holistic and sustainable human well-being.
Co-Authors Fandi Ahmad Marlion Fandi Ahmad Marlion Fitri Bahreni Gilang Ahdi Ramadhan Syukri Iska Syukri Iska, Syukri