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The Revival of Family Waqf: A Systematic Review of Law, Governance, and Intergenerational Wealth Preservation Muslim Marpaung; Irma Suryani Lubis
International Journal of Law and Society Vol. 2 No. 4 (2025): International Journal of Law and Society
Publisher : Asosiasi Penelitian dan Pengajar Ilmu Hukum Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62951/ijls.v2i4.782

Abstract

Family waqf is a classic instrument in Islamic economics that plays a crucial role in maintaining wealth sustainability and intergenerational well-being. However, its application in the context of modern law and economics still faces various challenges, such as overlap with Islamic inheritance law (farāʾiḍ), limited regulations, and weak governance. This article aims to systematically review the academic literature on the revival of the family waqf concept in the context of contemporary Islamic law, modern governance, and its potential contribution to wealth preservation. The approach used is a Systematic Literature Review (SLR) using the PRISMA method, covering studies from 2000–2025 from various sources indexed by Scopus, DOAJ, and Google Scholar. The results of the study indicate that regulatory modernization, integration with the Islamic financial system, and the implementation of technology-based governance are key factors in reviving the role of family waqf as an instrument of social justice and economic sustainability for the community.
Institutional Roles of Islamic Microfinance in Countering Informal Moneylenders: Evidence from Rural Communities Muslim Marpaung; Fitri, Yona; Khaidar Rahmaini Jamila; Yekti Mahanani
Journal of Finance and Islamic Banking Vol. 8 No. 2 (2025)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jfib.v8i2.13106

Abstract

Purpose: This study examines the role of PNM Mekaar Syariah in preventing the expansion of informal moneylending practices in rural communities, particularly among women micro entrepreneurs with limited access to formal financial services. It focuses on how Islamic microfinance mechanisms and group based empowerment reduce dependence on usurious lending. Method: A qualitative ethnographic approach was employed through participant observation, semi structured interviews, and field immersion within selected rural beneficiary groups. Data were thematically analyzed to capture patterns of financial behavior, social capital formation, and changes in borrowing practices. Results: The findings indicate that PNM Mekaar Syariah strengthens financial discipline, enhances entrepreneurial capacity, and builds trust based social capital through group financing structures. Beneficiaries demonstrate increased financial autonomy and a notable decline in reliance on informal moneylenders. Nevertheless, the study identifies the need for continuous financial education and digital payment integration to ensure long term sustainability. Implication: The study highlights Islamic microfinance as an effective community based strategy for preventing predatory lending and promoting sustainable financial inclusion in rural areas. Originality: This research offers ethnographic insights into Islamic microfinance by integrating social, behavioral, and religious dimensions in addressing informal moneylending practices in rural Indonesia.
Navigating Tradition and Territory: The Islamic Business Ethics of Minangkabau Traders in Negeri Sembilan, Malaysia Muslim Marpaung; Irma Suryani Lubis; Syahrial Arif Hutagalung; Yessi Kurnia Arjani Manik; Jufri Naldo
Bulletin of Indonesian Islamic Studies Vol. 4 No. 2 (2025): Bulletin of Indonesian Islamic Studies
Publisher : KURAS Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51214/biis.v4i2.1658

Abstract

This study explores Islamic economics and business anthropology with a focus on the commercial ethics of the Minangkabau diaspora in Negeri Sembilan, Malaysia. The central problem addressed is the growing challenge faced by diaspora Muslim entrepreneurs in maintaining Islamic business ethics and cultural identity while navigating increasingly competitive market environments and multicultural business interactions. In Southeast Asia, cross-border trade among ethnic communities continues to expand, yet reports of declining ethical practice and weakened cultural ties in diaspora business networks raise concerns for the sustainability of moral economic conduct. These conditions underscore the urgency to investigate how traditional Islamic values and Minangkabau customs are preserved, negotiated, and transformed within contemporary business settings. This research aims to understand the internalization of Islamic values and Minangkabau adat within the business practices of migrant traders, as well as how these values adapt to Malaysian socio-cultural contexts. Employing a qualitative method with an ethnographic approach, data were collected through in-depth interviews, participant observation, and document analysis involving 10 key informants consisting of Minangkabau traders and community leaders in Negeri Sembilan. Thematic data analysis highlights the dynamic interplay between religious principles, customary norms, and economic behavior. Findings reveal that Minangkabau traders uphold Islamic business ethics through the values of honesty, trust, and ukhuwah, while simultaneously adjusting to local business norms and regulations. Their ethical approach forms a contextual model of entrepreneurship that balances spiritual commitments with economic pragmatism. This study contributes to the formulation of the concept of Islamic Entrepreneurial Diaspora, offering an integrative model for understanding how Islamic belief systems interact with local culture in cross-national economic practices. The discovery provides theoretical enrichment to Islamic business ethics discourse and demonstrates the enduring importance of local cultural values in navigating global commercial pressures.
Prospects for Increasing the Economic Independence of the Community Through the Red and White Cooperative Based on Maqashid Sharia Muslim Marpaung; Faisal; Muflihul Fadhil; Tedi Hermansyah
International Journal of Economics Accounting and Management Vol. 2 No. 5 (2026): IJEAM - January 2026
Publisher : PT. INOVASI TEKNOLOGI KOMPUTER

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60076/ijeam.v2i5.1769

Abstract

The purpose of this research is to examine the impact of capital structure, profitability, and liquidity on stock returns, taking into account company size as a moderating factor, in food and beverage firms listed on the Indonesia Stock Exchange (BEI) between 2019 and 2023. Data from the Indonesia Stock Exchange served as the foundation for this research. The sampling technique employed was purposive sampling. This research included a sample of 11 companies from the food and beverage sub-sector listed on the Indonesia Stock Exchange between 2019 and 2023, with a total of 55 companies. Moderated Regression Analysis (MRA), secondary data, and panel data regression analysis were the methods used. According to the findings of this study, capital structure has a positive and considerable impact on share returns, liquidity has a positive and significant impact on share returns, and profitability has no effect on share returns. The impact of profitability on stock returns is not greatly moderated (strengthened) by firm size
EVALUASI SYARIAH DAN PENGEMBANGAN MODEL CRYPTOCURRENCY STABLECOIN: PENDEKATAN BERBASIS FIAT VS. BERBASIS EMAS Widjiantoro, Surya Tegar; Segati, Ahda; Marpaung, Muslim
JSE: Jurnal Sharia Economica Vol. 5 No. 1 (2026): Januari
Publisher : LPPM STAI Muhammadiyah Probolinggo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46773/jse.v5i1.3006

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This study discusses the comparison between fiat-based stablecoins and gold-based stablecoins from the perspective of Islamic economics, particularly in the context of the high price volatility of cryptocurrencies. The background of this research is the need for stable digital financial instruments that comply with sharia principles, considering that stablecoins have emerged as a solution to cryptocurrency value fluctuations but raise questions regarding their compatibility with Islamic law. The research method used is a literature review by analyzing various stablecoin models and examining literature related to sharia principles in finance, such as the prohibition of riba (usury), gharar (uncertainty), maysir (gambling), and the importance of underlying assets. The results show that gold-based stablecoins are more aligned with the concept of money in Islamic economics because they are backed by clear physical assets, whereas fiat-based stablecoins contain elements of riba due to seigniorage and the lack of clarity in intrinsic value. The conclusion of this study asserts that, from an Islamic economic perspective, gold-based stablecoins are more appropriate to be developed as sharia-compliant digital transaction instruments, while fiat-based stablecoins still have several aspects that need further review regarding sharia compliance.
Analisis SWOT Pada Pengembangan Perbankan Syariah di Indonesia Muslim Marpaung; Isnaini Harahap; Usnandar Afriansyah
Jurnal Ilmiah Ekonomi Islam Vol. 8 No. 2 (2022): JIEI : Vol. 8, No. 2, 2022
Publisher : ITB AAS INDONESIA Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jiei.v8i2.4675

Abstract

This study will try to answer how the process of developing Islamic banking in Indonesia is currently. This research is a descriptive qualitative research. Data analysis technique using matrix and SWOT analysis. The results of the study indicate that an alternative strategy for developing Islamic banking in Indonesia is a strategy to maintain and defend. The current strenght is that Islamic financial institutions are more crisis resistant. The current weakness is the relatively small and limited fund capital and the lack of a workforce who understands the concept of Islamic baniking. The current opportunity is the merger of 3 national banks ( BNI Syariah, BRI Syariah, BSM) to become BSI. The current threat is decline in people's income due to the COVID-19. The urgency of handling power in the future is to prioritize the support of muslims. The urgency of handling weaknesses in the future is the relatively smaller and limited capital of funds. The urgency of handling future opportunities is the merger of three national banks ( BRI Syariah, BNI Syariah and BSM). The urgency of handling threats in the future is the reduction in people's income due ti due COVID-19 pandemic. Keywords : Islamic Banking, Analysis SWOT, and Islamic Economic
Pengukuran Profitabilitas Perbankan Sebelum dan Sesudah Mengimplementasikan Teknologi Blockchain (Studi Kasus Pada Bank AlHilal) Sya'bana, Sasmita Wahyu; Noval, Muhammad; Marpaung, Muslim
Jurnal Ilmiah Ekonomi Islam Vol. 10 No. 3 (2024): JIEI : Vol.10, No.3, 2024
Publisher : ITB AAS INDONESIA Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jiei.v10i3.13966

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Financial technology emerged as a result of the rapid development of the internet and information technology, which is increasingly sensitizing the public, often known as Financial Technology. Collaboration between FinTech and banking institutions will provide benefits for both parties. The purpose of this study is to evaluate the impact of banking and FinTech cooperation, especially with regard to blockchain technology. This study uses a quantitative approach with comparative analysis to evaluate the variation in profitability levels determined by the Return on Equity (ROE), Return on Assets (ROA), and Net Profit Margin (NIM) ratios between before and after implementing blockchain technology at Al Hilal Bank for the period 2012 to 2023. The paired sample t-test was used to assess the data, and the results showed that there was no significant difference between ROA, ROE, and NPM after using blockchain technology. The implications of this study indicate that banks still need to make improvements and adjustments in order to remain optimally profitable while keeping up with technological developments.
REINTERPRETATION OF MAQASHID SHARIA BASED ON MAṢLAḤAT IN THE DEVELOPMENT OF CONTEMPORARY ISLAMIC ECONOMICS Muslim Marpaung; Faisal Umardani Hasibuan; Dewi Atika; Rahmad Cahyadi; Zulkarnaen
Multidiciplinary Output Research For Actual and International Issue (MORFAI) Vol. 6 No. 2 (2026): Multidiciplinary Output Research For Actual and International Issue
Publisher : RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.19318781

Abstract

Digital transformation has become inevitable for micro, small, and medium enterprises (MSMEs) in Indonesia. However, MSMEs' preparedness and resilience to digital disruption still vary. According to data from the Ministry of Cooperatives and SMEs, more than 64 million MSMEs contribute 60% of the national Gross Domestic Product (GDP), yet only a small portion are truly digitalized. This study aims to analyze the differences in resilience between Sharia-compliant MSMEs and conventional MSMEs in Medan City in facing digital disruption, by examining aspects of adaptation strategies and the values of Maqasid Sharia. This research method uses a qualitative-descriptive approach through literature analysis, semi-structured interviews, and secondary data from official government reports and scientific publications. The research results show that conventional MSMEs are quicker to adopt digital technology, while Sharia MSMEs have more stable social resilience and customer loyalty due to their ethical and trust-based foundation based on Islamic principles. The implications of this research demonstrate the importance of integrating Maqasid Sharia values into MSME digitalization strategies to achieve sustainable economic resilience.
Building Customer Loyalty of TikTok Shop Gen Z Medan City Mediation Analysis of Product Quality Satisfaction Ismail; Salisa Amini; Nurhudawi; Arifa Pratami; Irma Suryani Lubis; Muslim Marpaung
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 1 (2026): All articles in this issue include authors from 3 countries of origin (Indonesi
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i1.7378

Abstract

Purpose: This study aims to analyze the influence of product quality on the loyalty of TikTok Shop customers generation Z in Medan City, with customer satisfaction as a mediating variable. Methods: A quantitative approach was used with the Partial Least Square Structural Equation Modeling (PLS-SEM) analysis technique. The sample consisted of 75 respondents who had shopped at least three times through TikTok Shop. Result: Product quality has a significant effect on customer satisfaction (β = 0.757; p < 0.001). Product quality also has a direct and strong effect on customer loyalty (β = 0.837; p < 0.001). Customer satisfaction has a positive effect on loyalty (β = 0.182; p < 0.001) and acts as a partial mediator in the relationship between product quality and loyalty (β = 0.138; p < 0.001). Implications: These findings suggest that in order to build Gen Z customer loyalty, TikTok Shop business actors need to maintain product quality while creating a satisfying shopping experience. Theoretically, this research contributes to the testing of mediation in loyalty models, and practically, supports visual content-based marketing strategies in the digital age.
Maqasid-Al-Shariah as a Strategic Management Lens for Digital Governance in Halal Value Chains Irma Suryani Lubis; Muslim Marpaung
Digital Innovation : International Journal of Management Vol. 3 No. 1 (2026): January: Digital Innovation : International Journal of Management
Publisher : Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/digitalinnovation.v3i1.677

Abstract

This study examines the integration of maqasid al-shariah and digital governance in halal value chains using a Systematic Literature Review (SLR) guided by the PRISMA 2020 framework. Articles indexed in Scopus from 2020–2025 were analyzed to identify theoretical patterns and research gaps. The findings indicate that existing studies remain fragmented, with maqasid primarily treated as a normative concept and digital governance addressed mainly from technological or compliance perspectives. This research proposes an integrative conceptual model linking maqasid al-shariah, digital governance, stakeholder engagement, institutional legitimacy, strategic resources, and sustainability outcomes. The synthesis demonstrates that maqasid can function as a strategic governance framework, while digital governance operationalizes Islamic values through transparent and measurable practices. The study contributes theoretically by repositioning maqasid as a strategic management lens and practically by offering guidance for value-based digital transformation in the halal ecosystem. Overall, maqasid-based digital governance emerges as a new paradigm for building ethical, resilient, and sustainable halal value chains.