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All Journal Indonesian Journal of Religion and Society AL-FALAH : Journal of Islamic Economics Jurnal Multidisiplin West Science West Science Journal Economic and Entrepreneurship Jurnal Bisnis dan Manajemen West Science Jurnal Ekonomi dan Kewirausahaan West Science West Science Interdisciplinary Studies West Science Interdisciplinary Studies West Science Social and Humanities Studies West Science Islamic Studies
Ilhamiwati, Mega
Unknown Affiliation
Religion Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Law, Crime, Criminology & Criminal Justice Public Health Social Sciences

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Journal : West Science Islamic Studies

 1 
Analysis of Zakat as an Alternative Fiscal Instrument in Supporting Economic Development in Indonesia Judijanto, Loso; Ilhamiwati, Mega; Rosid, Abdul; Muhammadong, Muhammadong
West Science Islamic Studies Vol. 2 No. 04 (2024): West Science Islamic Studies
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/wsiss.v2i04.1346

Abstract

This study explores the potential of zakat as an alternative fiscal instrument in supporting economic development in Indonesia. Zakat, a mandatory charitable contribution in Islam, has the ability to address poverty, reduce income inequality, and contribute to economic growth. Using a quantitative approach, data were collected from 80 respondents, including zakat payers, recipients, and administrators, through a Likert-scale survey. The data were analyzed using SPSS version 26 to evaluate the impact of zakat distribution efficiency and utilization on poverty reduction and economic development. The results demonstrate that both zakat distribution efficiency and utilization significantly contribute to poverty reduction and economic development, supporting the hypothesis that zakat can play a crucial role as a fiscal tool. The study's findings suggest that improving zakat management practices and aligning zakat utilization with long-term development goals could enhance its impact on Indonesia's economic growth.
Implementation of Fatwa DSN-MUI as a Basis for Regulation in Islamic Finance in Indonesia Judijanto, Loso; Ilhamiwati, Mega; Abdullah, Rais; Winarni, Indah; Lasmiatun, KMT
West Science Islamic Studies Vol. 3 No. 01 (2025): West Science Islamic Studies
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/wsiss.v3i01.1611

Abstract

This study examines the implementation of Fatwas issued by the National Sharia Council-Indonesian Ulema Council (DSN-MUI) as a foundational regulatory framework for Islamic finance in Indonesia. Through a literature review analysis, the research explores the role of these Fatwas in shaping Sharia-compliant financial practices, their integration into regulatory frameworks, and the challenges associated with their application. Key findings highlight the dual role of DSN-MUI Fatwas as theological and regulatory tools, their contribution to ensuring Sharia compliance, and the need for standardized enforcement mechanisms. Drawing lessons from global practices, this study emphasizes the importance of institutional capacity and collaboration in enhancing the effectiveness of DSN-MUI Fatwas. These insights provide a valuable roadmap for advancing Islamic finance in Indonesia, fostering alignment between religious principles and regulatory frameworks.
Analysis of Zakat as an Alternative Fiscal Instrument in Supporting Economic Development in Indonesia Judijanto, Loso; Ilhamiwati, Mega; Rosid, Abdul; Muhammadong, Muhammadong
West Science Islamic Studies Vol. 2 No. 04 (2024): West Science Islamic Studies
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/wsiss.v2i04.1346

Abstract

This study explores the potential of zakat as an alternative fiscal instrument in supporting economic development in Indonesia. Zakat, a mandatory charitable contribution in Islam, has the ability to address poverty, reduce income inequality, and contribute to economic growth. Using a quantitative approach, data were collected from 80 respondents, including zakat payers, recipients, and administrators, through a Likert-scale survey. The data were analyzed using SPSS version 26 to evaluate the impact of zakat distribution efficiency and utilization on poverty reduction and economic development. The results demonstrate that both zakat distribution efficiency and utilization significantly contribute to poverty reduction and economic development, supporting the hypothesis that zakat can play a crucial role as a fiscal tool. The study's findings suggest that improving zakat management practices and aligning zakat utilization with long-term development goals could enhance its impact on Indonesia's economic growth.
Implementation of Fatwa DSN-MUI as a Basis for Regulation in Islamic Finance in Indonesia Judijanto, Loso; Ilhamiwati, Mega; Abdullah, Rais; Winarni, Indah; Lasmiatun, KMT
West Science Islamic Studies Vol. 3 No. 01 (2025): West Science Islamic Studies
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/wsiss.v3i01.1611

Abstract

This study examines the implementation of Fatwas issued by the National Sharia Council-Indonesian Ulema Council (DSN-MUI) as a foundational regulatory framework for Islamic finance in Indonesia. Through a literature review analysis, the research explores the role of these Fatwas in shaping Sharia-compliant financial practices, their integration into regulatory frameworks, and the challenges associated with their application. Key findings highlight the dual role of DSN-MUI Fatwas as theological and regulatory tools, their contribution to ensuring Sharia compliance, and the need for standardized enforcement mechanisms. Drawing lessons from global practices, this study emphasizes the importance of institutional capacity and collaboration in enhancing the effectiveness of DSN-MUI Fatwas. These insights provide a valuable roadmap for advancing Islamic finance in Indonesia, fostering alignment between religious principles and regulatory frameworks.
Co-Authors . Syamsulbahri Abdul Rosid Abdullah, Rais Andriko, Andriko Bambang Bambang Cahyani, Lidya Ferdinand, Rio Ferry Arfiansyah Hendrianto Hendrianto, Hendrianto Indah Winarni Jamaluddin Majid Judijanto, Loso Lasmiatun, KMT Mahadi, Nur Rizky Putri Mardiani, Eri Monica, Fina Muhammad Sholihin Muhammadong Priyana, Yana Rafik, Zainur Ratna Lestari Siminto Siminto, Siminto Sono, Moh Gifari Sudarmanto, Eko Sulastri, Eva Supriandi Supriandi, Supriandi Surahmi, Mila Utami, Eva Yuniarti Widalicin Januarty