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All Journal Niqosiya: Journal of Economics and Business Research El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Siti Musfiqoh
Universitas Islam Negeri Sunan Ampel Surabaya
Agriculture, Biological Sciences & Forestry Civil Engineering, Building, Construction & Architecture Economics, Econometrics & Finance Industrial & Manufacturing Engineering Social Sciences

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Behavioral Economics and Islamic Consumption Values: A Conceptual Study on The Rojali-Rohana Phenomenon Adhi Nur Muhammad; Lilik Rahmawati; Siti Musfiqoh
Niqosiya: Journal of Economics and Business Research Vol. 6 No. 1 (2026): January-June 2026
Publisher : Universitas Islam Negeri Kiai Ageng Muhammad Besari Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/niqosiya.v6i1.5559

Abstract

Introduction: This study examines how prospect theory and Islamic consumption values intersect in explaining the rise of Rojali and Rohana in Indonesia. Research Method: Using a qualitative approach with a conceptual comparative design, the study analyzes secondary sources, including academic literature, consumer survey reports, and Islamic economic texts, through content analysis to identify points of convergence between the two frameworks. Results: The analysis shows a clear shift in the reference point of these consumers from seeking shopping satisfaction toward safeguarding financial stability, supported by stronger loss aversion and a growing tendency to delay gratification. Islamic values such as halal, tayyib, i’tidal, and the prohibitions of israf and tabdzir reinforce moral discipline that keeps consumption proportional. These psychological and ethical forces combine to create a cautious consumer profile where browsing, comparing prices, or leaving stores without purchasing reflects deliberate risk management rather than irrational hesitation. Their behavior protects financial well-being and aligns each purchase with religious and practical considerations. Conclusion: The main limitation of this study lies in its reliance on secondary data, which cannot fully capture lived consumer dynamics. Future research should adopt quantitative models to measure the scale of this phenomenon or employ ethnography and netnography for a deeper cultural examination of how this behavior emerges and evolves in everyday consumption.
Analisis Krisis Moneter dan Solusinya dalam Perspektif Ekonomi Islam Fath. Abdul Azis Assa’ud; Siti Musfiqoh
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 7 No. 11 (2026): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v7i11.13656

Abstract

This study aims to analyze the causes and impacts of the monetary crisis and to examine the solutions offered from an Islamic economic perspective. The main issue addressed is the instability of the conventional economic system, which is characterized by dependence on interest-based systems, speculative practices, and weak linkages between the financial and real sectors. The method used in this study is a qualitative approach with a library research design through the collection and analysis of relevant scientific literature. The results show that monetary crises are caused by both internal and external factors, such as exchange rate depreciation, high levels of debt, weak banking systems, and declining public trust. The impacts are not only reflected in macroeconomic indicators but also in social conditions, including rising unemployment and poverty. From an Islamic economic perspective, the proposed solutions are comprehensive, including the elimination of riba (interest), restriction of speculative activities, optimization of social instruments such as zakat, infaq, sadaqah, and waqf, as well as strengthening the real sector through profit-sharing mechanisms. Thus, it can be concluded that Islamic economics has the potential to serve as a more stable, just, and sustainable alternative system in addressing monetary crises.
Co-Authors Adhi Nur Muhammad Fath. Abdul Azis Assa’ud Lilik Rahmawati