Ikeu Haerunnisa
Department of Islamic Education Management, Postgraduate Program, Universitas Islam Negeri Profesor Kiai Haji Saifuddin Zuhri, Purwokerto, Central Java 53124

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Sustainable working capital management in education: Concept, policy, efficiency, and measurement from an Islamic perspective Ari Eka Setyaningrum; Ikeu Haerunnisa; Ali Muhdi
Kemakmuran Hijau: Jurnal Ekonomi Pembangunan Vol. 2 No. 2: (August) 2025
Publisher : Institute for Advanced Science, Social, and Sustainable Future

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61511/jekop.v2i2.2025.2632

Abstract

Background: Sustainable working capital management is crucial for ensuring the operational sustainability, financial stability, and long-term resource resilience of educational institutions, which in turn underpins their contribution to inclusive and sustainable human capital development. In Islamic education, its management must also reflect principles of accountability, justice, and maqāṣid al-sharī‘ah, reinforcing responsible and sustainable resource stewardship at the institutional level. Methods: This study employed a qualitative approach using library research. Data were drawn from relevant scientific literature, government regulations, and previous studies concerning educational working capital management, institutional financial sustainability, and Islamic financial principles. Findings: The findings indicate that educational working capital consists primarily of short-term operational funds that must be managed effectively, efficiently, transparently, and accountably to sustain institutional operations over time. Effective and sustainable management contributes to institutional financial stability, improved learning quality, and greater institutional independence, supporting the long-term viability of educational service delivery. From an Islamic perspective, working capital is an amanah that should be managed in accordance with maqāṣid al-sharī‘ah while avoiding riba, waste, and injustice — principles that align closely with sustainable and responsible resource management. Its efficiency can be assessed through quantitative and qualitative indicators, including working capital ratios, cost per learner, financial reporting transparency, and its contribution to sustainable educational service quality. Conclusion: Professional and Islamic-oriented working capital management provides an important foundation for the financial sustainability, resource efficiency, and long-term competitiveness of educational institutions. Novelty/Originality of this article: This article integrates conventional working capital management principles with Islamic education and maqāṣid al-sharī‘ah, while proposing a multidimensional framework for assessing sustainable working capital efficiency in educational institutions.