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All Journal Ihtifaz: Journal of Islamic Economics, Finance, and Banking TSAQAFAH Danadyaksa: Post Modern Economy Journal
Alam, Shahbaz
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Law, Crime, Criminology & Criminal Justice Social Sciences

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CSR CONTRIBUTION TO SOCIO-ECONOMIC DEVELOPMENT: EVIDENCE FROM INDONESIAN ISLAMIC BANKS Muneeza, Aishath; Ma'ruf, Aminudin; Alam, Shahbaz
Ihtifaz: Journal of Islamic Economics, Finance, and Banking Vol 3, No 1 (2020)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (2018.24 KB) | DOI: 10.12928/ijiefb.v3i1.949

Abstract

Islamic banks play a significant role in social and environmental responsibility. It is known that Islamic finance is not merely profit-oriented but also looking at the prosperity of the society, as an ethical financial system Islamic finance give a massive contribution towards social responsibility. This exploratory study examines the relations between corporate social responsibility (CSR) practices of Indonesian Islamic banks and socio-economic development. The evidence presented is based on the published annual reports of 13 Islamic commercial banks in 2017. The findings of this research suggests that CSR is a priority of Indonesian Islamic banks and has correlation to the socio-economic development. Furthermore, the findings suggest that the robust guiding principles on CSR need to be developed and it has potential of Islamic banks credibility and profitability.
Can Al-Faruqi’s Islamization Deals with Islamic Economics? Revisiting Al-Faruqi’s Islamization of Economics Ma'ruf, Aminudin; Kurniawan, Adityo Wiwit; Fatoni, Muhammad Iqbal; Alam, Shahbaz; Hakim, Lukmanul
TSAQAFAH Vol. 19 No. 2 (2023): Tsaqafah Jurnal Peradaban Islam
Publisher : Universitas Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/tsaqafah.v19i2.9337

Abstract

This study attempts to examine al-Faruqi’s Islamization of knowledge concept in relation to Islamic economic studies. The paper employs a qualitative research method with the library and literature study approach. The study finds that al-Faruqi’s concept of Islamization of knowledge has put the fundamental principles of Islamization of economics. The concept covers the steps of mastery of the modern discipline, disciplinary survey, and mastery of the Islamic heritage. The study henceforth urges stakeholders of Islamic economic studies to consider al-Faruqi’s Islamization concept in their development of Islamic economic sciences. Furthermore, the paper encourages future research on exploring the application of al-Faruqi’s Islamization of knowledge concept driving the future of Islamic studies.
The Role of Sharia Economic Stakeholders in Indonesia’s Sharia Economy Masterplan 2019-2024: Pentahelix Concept Analysis Ma'ruf, Aminudin; Mellinia, Rashifahunnisa’; Rohmaningtyas, Nurwinsyah; Alam, Shahbaz
Danadyaksa: Post Modern Economy Journal Vol. 2 No. 2 (2025): Post Modern Economy Journal
Publisher : Yayasan Pendidikan Islam Bustanul Ulum Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69965/danadyaksa.v2i2.118

Abstract

Indonesia's Sharia economy has grown rapidly in recent years, attracting the attention of investors both domestically and internationally. In 2019, the Indonesian government launched the Sharia Economic Masterplan 2019-2024 to strengthen the Islamic economic ecosystem and position Indonesia as the world's leading Islamic economic center. This study aims to analyze the role of each Islamic economic stakeholder in the 2019-2024 Indonesian Islamic Economics Masterplan using the Pentahelix concept analysis. The results show that the government plays a crucial role as a regulator in formulating policies and regulations that support Islamic economic development. Through research and public consultation, academics contribute relevant concepts and innovations to the development of the Islamic economy. Islamic business people and financial institutions, such as Islamic banking, Islamic capital markets, and MSMEs, play an essential role as drivers of the halal industry. The Islamic economic community acts as an accelerator in strengthening the halal industry in various sectors. Meanwhile, as a multiplier, the media plays an essential role in maximising the fulfillment of the halal market share by promoting and educating the public about the available halal products and services. It is hoped that the synergy between stakeholders can achieve inclusive, sustainable sharia economic growth and encourage the progress of the halal industry in Indonesia.
Co-Authors Adityo Wiwit Kurniawan Aishath Muneeza, Aishath Aminudin Ma'ruf Fatoni, Muhammad Iqbal Lukmanul Hakim Mellinia, Rashifahunnisa’ Nurwinsyah Rohmaningtyas