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All Journal International Journal of Health, Economics, and Social Sciences (IJHESS)
Rajindra Rajindra
Lecturer of Islamic Economic Law, Faculty of Islamic Studies, Universitas Muhammadiyah Palu, Indonesia
Economics, Econometrics & Finance Public Health Social Sciences

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Implementation of Sharia Economic Law in Modern Business Transactions in Indonesia Rajindra Rajindra; Muhammad Rasyid Ridoh
International Journal of Health, Economics, and Social Sciences (IJHESS) (Special Issue) - International Journal of Health, Economics, and Social Sciences (IJHESS) October 2
Publisher : Universitas Muhammadiyah Palu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56338/ijhess.v7i4.9349

Abstract

This study examines the implementation of Sharia Economic Law in modern business transactions in Indonesia, focusing on how Islamic legal principles are applied within contemporary economic activities. As Indonesia continues to experience rapid digital and financial innovation, various sectors—including banking, e-commerce, fintech, and Islamic microfinance—have increasingly adopted Sharia-compliant mechanisms. This research analyzes the extent to which Sharia principles such as fairness, transparency, avoidance of usury (riba), uncertainty (gharar), and prohibited transactions (maysir) are integrated into current business practices. Using a qualitative approach through literature review, regulatory analysis, and case studies from selected Sharia-based financial institutions, the findings reveal that Sharia Economic Law plays a significant role in shaping ethical business conduct and providing legal certainty in modern transactions. However, several challenges remain, including regulatory harmonization, public literacy, and the need for stronger supervision frameworks. Overall, this study highlights the importance of strengthening Sharia-compliant systems to support sustainable and equitable economic development in Indonesia.
The Application of the Murabaha Contract in Sharia Financing: A Sharia Economic Law Perspective Rajindra Rajindra; Syamsuddin Syamsuddin
International Journal of Health, Economics, and Social Sciences (IJHESS) (Special Issue) - International Journal of Health, Economics, and Social Sciences (IJHESS) - January
Publisher : Universitas Muhammadiyah Palu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56338/ijhess.v7i1.9350

Abstract

This article examines the application of the Murabaha contract as one of the most widely used financing instruments in Islamic financial institutions. Through a normative juridical approach, the study analyzes the legal foundations, implementation mechanisms, and compliance of Murabaha practices with the principles of Sharia Economic Law. The discussion highlights key aspects such as transparency in cost disclosure, the requirement of asset ownership by the financing institution, and the prohibition of speculative or interest-based elements. The findings indicate that, when implemented according to established Sharia guidelines, the Murabaha contract serves as an effective, fair, and sharia-compliant financing model that supports economic activities while promoting ethical financial interactions. This study also identifies common challenges in practice, including issues of documentation, risk allocation, and deviations from ideal Sharia procedures, and offers recommendations for strengthening regulatory oversight and institutional governance.
A Legal Study on the Mechanism for Resolving Sharia Economic Disputes in the Religious Court Rajindra Rajindra; Fatma Fatma
International Journal of Health, Economics, and Social Sciences (IJHESS) (Special Issue) - International Journal of Health, Economics, and Social Sciences (IJHESS)
Publisher : Universitas Muhammadiyah Palu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56338/ijhess.v7i2.9351

Abstract

This study examines the legal framework and procedural mechanisms for resolving Sharia economic disputes within the Indonesian Religious Court system. As the growth of Islamic finance continues to increase, the number and complexity of disputes related to Sharia-based contracts, financing schemes, and commercial agreements have also risen. This research aims to analyze the principles, legal foundations, and procedural stages used by Religious Courts in handling such disputes. Using a normative juridical approach supported by statutory, conceptual, and case-based analyses, the study explores how judges interpret Sharia principles alongside national law, the effectiveness of dispute resolution procedures, and the extent to which decisions reflect justice and legal certainty for the parties involved. The findings indicate that although the legal basis for Sharia economic dispute resolution is well-established, several challenges remain, including varying interpretations of Sharia, limited expert involvement, and procedural inefficiencies. Strengthening legal harmonization and improving judicial competence are essential for achieving a more effective and equitable dispute resolution system.
Consumer Protection in Sharia Financial Products: A Review from the Perspective of Sharia Economic Law Rajindra Rajindra; Muthmainnah MD
International Journal of Health, Economics, and Social Sciences (IJHESS) (Special Issue) - International Journal of Health, Economics, and Social Sciences (IJHESS) July 2025
Publisher : Universitas Muhammadiyah Palu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56338/ijhess.v7i3.9353

Abstract

Consumer protection in Sharia financial products is an essential aspect of ensuring fairness, transparency, and legal certainty within the Islamic economic system. This study examines the principles, mechanisms, and legal frameworks governing consumer protection from the perspective of Sharia economic law. Using a normative legal research approach, the analysis focuses on key Sharia principles such as justice (al-‘adl), transparency (al-shaf?fiyyah), and the prohibition of deceptive practices (gharar and tadlis). The findings reveal that Sharia economic law provides a comprehensive foundation for consumer protection through contractual requirements, ethical guidelines, and dispute resolution mechanisms based on Islamic legal traditions. The study also highlights the importance of regulatory reinforcement and institutional supervision to ensure that Sharia financial institutions uphold consumer rights. Strengthening legal instruments and increasing public awareness are recommended to enhance consumer trust and support the growth of the Sharia financial industry.
Co-Authors Fatma Fatma Muhammad Rasyid Ridoh Muthmainnah MD Syamsuddin Syamsuddin