Syafiq Mahmadah Hanafi
Sunan Kalijaga State Islamic University Yogyakarta

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From Digital Collectibles to Zakatable Income: A Sharia and Regulatory Analysis of NFT Creator Earnings in Indonesia Muhammad Abdul Aziz; Syafiq Mahmadah Hanafi; Muhammad Luqman Ammar; Luthfi Muhyiddin
Hikmatuna : Journal for Integrative Islamic Studies Vol 12 No 1 (2026): Hikmatuna: Journal for Integrative Islamic Studies, June 2026
Publisher : Universitas Islam Negeri K.H. Abdurrahman Wahid Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28918/hikmatuna.v12i1.14920

Abstract

This study aims to analyze the zakat status of non-fungible token (NFT) creator earnings in Indonesia and to formulate an appropriate payment mechanism from the perspective of Islamic finance and national regulation. The study employs a qualitative descriptive approach based on library research and semi-structured interviews, involving key informants from the National Zakat Agency (BAZNAS) and the Ministry of Religious Affairs of the Republic of Indonesia, supported by zakat jurisprudence, regulatory documents, and relevant NFT literature. The findings show that the object of zakat does not lie in the NFT as a digital token itself, but in the income realized from sales and royalties. Such income is more appropriately classified as income or professional zakat, with a nisab equivalent to 85 grams of gold and a 2.5% rate after fulfilling the requirements of haul and lawful ownership. The study also finds that, in the Indonesian context, zakat on NFT creator earnings cannot yet be paid in cryptocurrency due to both regulatory and Sharia considerations; therefore, such earnings must first be converted into lawful local currency. This study recommends the development of clearer zakat guidelines for digital assets, broader empirical research on NFT creators, and a more adaptive regulatory framework in response to the expansion of the digital economy.
Beyond Survival: Responsiveness and Muslim Entrepreneurial Characteristics in Building Post-Pandemic Resilience among Book Publishing MSMEs Samino Setiawan; Syafiq Mahmadah Hanafi; Muhammad Ghafur Wibowo
IQTISHODUNA: Jurnal Ekonomi Islam Vol. 15 No. 2 (2026): October (On Progress)
Publisher : Department of Sharia Economics Faculty of Islamic Economics and Business, Universitas Islam Syarifuddin Lumajang, Indonesia

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Abstract

Background and research gap – Research on the determinants of business resilience has been widely discussed in the literature. However, the role of responsiveness and the characteristics of Muslim entrepreneurs are still rarely the primary focus and have not been widely used as an effective framework. Purpose – This study aims to empirically test the factors that influence the resilience of Micro, Small, and Medium Enterprises (MSMEs), particularly in the publishing industry in the Special Region of Yogyakarta (DIY) after the Covid-19 pandemic. Design/methodology/approach – Using a sample of 142 businesses published, this study applies the Structural Equation Modeling (SEM) method to test the hypothesis. Key Findings – The results indicate that the business environment significantly affects business resilience, while technology adoption does not have a significant impact. On the other hand, responsiveness plays a complex role, both as a direct determinant and as a mediator that bridges the influence of the business environment and technology adoption on business resilience. Furthermore, the characteristics of Muslim entrepreneurs are shown to have a direct influence on business resilience, but they do not act as a moderator. Research limitations/implications – This study makes two main contributions. First, it recommends responsiveness as an attitude that publishing business actors should adopt to be more sensitive to the business environment and better utilize technology to help businesses survive. Second, this study introduces the characteristics of Muslim entrepreneurs such as spirituality, religiosity, entrepreneurial orientation, and social capital as a foundation that business actors need to adopt, as these characteristics have been shown to guide them through the crisis caused by the Covid-19 pandemic. Originality/value – Therefore, these results not only enrich the academic literature but also provide practical implications for business actors, policymakers, and other stakeholders in developing strategies to strengthen resilience based on contextual and applicable Islamic values.