Articles
<![CDATA[Transactional Comparative Analysis of Ijarah and Al Ijarah Al Muntakiya Bit Tamlik in Islamic Banks ]]>
<![CDATA[Asep Dadang Hidayat]]>;
<![CDATA[Sofyan Al-Hakim]]>;
<![CDATA[Iwan Setiawan]]>
<![CDATA[ al-Afkar, Journal For Islamic Studies Vol. 6 No. 4 (2023) ]]>
Publisher : <![CDATA[Perkumpulan Dosen Fakultas Agama Islam Indramayu ]]>
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DOI: 10.31943/afkarjournal.v6i4.762
<![CDATA[This research is to find out how ijarah and al-Ijarah al-Muntakiya bit Tamlik (IMBT) transactions are carried out in Islamic banks. The implementation of leasing transactions with ijarah schemes and IMBT in sharia bank products is in accordance with sharia principles. The implementation of ijarah transactions in Islamic banks refers to the provisions of the Fatwa of the National Sharia Council of the Indonesian Ulema Council (DSN-MUI) and Supreme Court Regulation Number 2 of 2008 concerning Compilation of Sharia Economic Law (KHES). There is a comparison with the implementation of the transfer of ownership of the leased object to IMBT, the transfer of the object for lease can only be attempted if the ijarah contract has ended, the option for transferring the object for lease can be attempted by promise (wa'ad). buy and sell. So there are no provisions in the IMBT contract based on the transfer of object ownership by promise (wa'ad). grants, this issue is contradictory because there is a reward that must be given by the customer (mustajir) to the bank for the object of the IMBT contract. ]]>
<![CDATA[Comparative Analysis of Islamic Economics with Capitalism ]]>
<![CDATA[Chandra]]>;
<![CDATA[Sofyan Al-Hakim]]>;
<![CDATA[Iwan Setiawan]]>
<![CDATA[ al-Afkar, Journal For Islamic Studies Vol. 6 No. 4 (2023) ]]>
Publisher : <![CDATA[Perkumpulan Dosen Fakultas Agama Islam Indramayu ]]>
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DOI: 10.31943/afkarjournal.v6i4.767
<![CDATA[This research discusses the concept of the Islamic economic system. The main objective of this study is to determine the relationship between Islam and the economy and how the pattern of Islamic regulation in the economic field, then the regulation of individuals in obtaining wealth. Is it true that the Islamic economic system is the only economic theory that can be expected as a light in the face of economic problems is an economic system that is able to create justice, the welfare of all parties, and the blessings of the world and the here after. Islamic economics in practice is inseparable from Islamic economic law. Islamic economic law that underlies the economic system is very different from the capitalist economic system.]]>
<![CDATA[Why Mudharabah Is Not Developing In Islamic Banking ]]>
<![CDATA[Lina Pusvisasari]]>;
<![CDATA[Sofyan Al-Hakim]]>;
<![CDATA[Iwan Setiawan]]>
<![CDATA[ al-Afkar, Journal For Islamic Studies Vol. 6 No. 4 (2023) ]]>
Publisher : <![CDATA[Perkumpulan Dosen Fakultas Agama Islam Indramayu ]]>
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DOI: 10.31943/afkarjournal.v6i4.805
<![CDATA[Why mudharabah has not grown significantly in Islamic banking: Complexity and Risk: Mudharabah has a complex structure and involves profit sharing between the capital and the manager (mudharib). The success of mudharabah is highly dependent on the manager's ability to manage risk wisely. This can be challenging for Islamic banks as it requires specialized expertise in risk management and business evaluation. Uncertainty of Results: In mudharabah, business results cannot be guaranteed and may vary from time to time. This creates uncertainty for the capital party (shahib al-mal), especially if they want a fixed and stable return. This uncertainty may discourage investors and discourage the use of mudharabah on a large scale. Preference for Easier Instruments: Some Islamic banks prefer other financial instruments that are easier to implement, such as murabahah (sale and purchase with markup) or ijarah (lease). These instruments have simpler structures and are easier to understand, allowing banks to quickly offer products and services to their customers. Lack of Awareness and Understanding: Lack of awareness and understanding of mudharabah among the public and Islamic bank customers can also be a hindering factor. If customers do not have sufficient understanding of the concept and benefits of mudharabah, they may be reluctant to use products or services related to it. Unfavorable Rules and Regulations: Some rules and regulations in some countries may not provide sufficient support for the development of mudharabah in the Islamic banking industry. Certain legal ambiguities or regulatory constraints may hinder the freedom and flexibility in using mudharabah as a financial instrument. Slower Industry Development: The Islamic banking industry is still relatively young compared to conventional banking. While there has been significant growth in recent years, Islamic banking still faces challenges in achieving the same size and scale as conventional banking. This may also affect the wider adoption of mudharabah in the industry.]]>
<![CDATA[Completion of Legal Conflicts in The Implementation of The Decision of the National Sharia Arbitration Board ]]>
<![CDATA[Sofyan al-Hakim]]>;
<![CDATA[Muhammad Hasanuddin]]>;
<![CDATA[Heris Suhendar]]>
<![CDATA[ International Journal of Nusantara Islam Vol 8, No 1 (2020): International Journal of Nusantara Islam ]]>
Publisher : <![CDATA[UIN Sunan Gunung Djati Bandung ]]>
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DOI: 10.15575/ijni.v8i1.9311
<![CDATA[The background of the article is the contents of Article 59 paragraph (3) and explanation of paragraph (1) of the Law on Judicial Power. The article authorizes the District Court to implement the decision of the Sharia arbitration body on the resolution of Islamic economic disputes. The article and explanation of the verse contradicts the absolute authority of the Religious Courts regulated in Article 49 letter (i) of the Law on Religious Courts. This shows that, the legislators are not consistent in making laws and regulations, so that it creates legal uncertainty. By applying the normative legal research method to the statute approach and case approach, this article seeks to describe the phenomenon of legal conflicts that occur. From the in-depth analysis it can be concluded that the legal provisions regarding the implementation of the decision of the National Sharia Arbitration Board are regulated in the Arbitration Law, the Judicial Power Act and the Religious Courts Act. The legal substance of the provisions therein enables antinomy or legal conflicts. Antinomy settlement can use the principle of lex specialis derogat legi generali]]>
<![CDATA[Shirkah Contracts Fuqaha Perspectives and Their Application in Islamic Cooperatives ]]>
<![CDATA[Moh. Asep Zakariya Ansori]]>;
<![CDATA[Sofyan Al Hakim Sofyan]]>;
<![CDATA[Iwan Setiawan Iwan]]>
<![CDATA[ International Economic and Finance Review Vol. 2 No. 2 (2023): INTERNATIONAL ECONOMIC AND FINANCE REVIEW (IEFR) ]]>
Publisher : <![CDATA[Sekolah Tinggi Ekonomi dan Perbankan Islam Mr. Sjafruddin Prawiranegara ]]>
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DOI: 10.56897/iefr.v2i2.35
<![CDATA[Shirkah is a contract of cooperation between two or more people in one capital, skills, or trust in a particular business with profit sharing based on the ratio, Shirkah is very important role in the economic growth of society. However, there are differences of opinion among fuqahâ regarding the types of shirkah that are permitted in Islam. This study discusses the fuqaha's views on the permissibility of the types of shirkah and their application in cooperatives from a theoretical and practical perspective through the study of some literature and observation of the application of these types in cooperatives. The method used in this research is a literature study that collects information from books, journals, and other sources related to shirkah contracts and cooperatives. The results show that the shirkah contract in the sharia cooperative business is a form of business that is in accordance with sharia principles. However, there are differences of opinion among fuqaha regarding the permissibility of the types of shirkah applied in the practice. Therefore, it is important for cooperative managers to understand these differences of opinion in order to choose the right type of shirkah that is in accordance with sharia principles. Keywords: Shirkah, Types of shirkah contracts, Cooperatives]]>
<![CDATA[Zakat Infaq and Sadaqah as a Modern Fiscal Instrument in Indonesia ]]>
<![CDATA[Hilmi, Ahmad]]>;
<![CDATA[Janwari, Yadi]]>;
<![CDATA[Al-Hakim, Sofyan]]>
<![CDATA[ MUAMALATUNA Vol. 15 No. 2 (2023): Juli-Desember 2023 ]]>
Publisher : <![CDATA[Fakultas Syariah UIN Sultan Maulana Hasanuddin Banten ]]>
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DOI: 10.37035/mua.v15i2.9623
<![CDATA[This study investigates the integration of Zakat, Infaq, and Sadaqah (ZIS) in Indonesia's modern fiscal policy framework. The research method involves analysing the impact of ZIS on economic growth, wealth distribution, and social inclusion. The background problem arises because although ZIS has been proven to contribute positively to the welfare of society, its integration as a critical component of fiscal policy is still limited. Challenges involve regulatory formulation, efficient fund management, public awareness, and harmonisation of sharia objectives. This research is expected to provide recommendations to policymakers to design effective strategies for integrating ZIS in fiscal policy, with positive impacts on Indonesia's economic efficiency, social cohesion, and economic justice.]]>
<![CDATA[The Implementation of the Principle of Profit Sharing of Mudharabah and Musyarakah in The Realm of Community Economic Development ]]>
<![CDATA[Suherli, Ian Rakhmawan]]>;
<![CDATA[Ridwan, Ahmad Hasan]]>;
<![CDATA[Yusup, Deni Kamaludin]]>;
<![CDATA[Hakim, Sofyan Al]]>;
<![CDATA[Muharni, Yusraini]]>
<![CDATA[ Amwaluna: Jurnal Ekonomi dan Keuangan Syariah Vol. 9 No. 1 (2025): Amwaluna: Jurnal Ekonomi dan Keuangan Syariah ]]>
Publisher : <![CDATA[UPT Publikasi Ilmiah UNISBA ]]>
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DOI: 10.29313/amwaluna.v9i1.3357
<![CDATA[This study investigates the implementation of the profit-sharing concept through mudharabah and musharakah contracts within the context of community economic growth in general. Library research methods are utilized to collect and analyze relevant literature, emphasising how these two contracts might help Muslims avoid the usury trap. The study's findings reveal that mudharabah and musharakah have become an important feature of Indonesia's Islamic financial system, helping to finance productive enterprises. Although there are obstacles to its adoption, such as a lack of public comprehension and insufficient rules, both contracts have the potential to boost economic welfare significantly. This study also emphasizes the role of Islamic scholars and financial organizations in creating and overseeing this practice to ensure that Sharia principles are not breached]]>
<![CDATA[Sharia Economic Law Criticism on Muhammad Syahrûr’s Hudûd Theory Regarding Bank Interes ]]>
<![CDATA[Eka Rahayu, Annisa]]>;
<![CDATA[Kamaludin Yusup, Deni]]>;
<![CDATA[Athoillah, Mohamad Anton]]>;
<![CDATA[Hakim, Sofyan Al]]>
<![CDATA[ Amwaluna: Jurnal Ekonomi dan Keuangan Syariah Vol. 8 No. 2 (2024): Amwaluna: Jurnal Ekonomi dan Keuangan Syariah ]]>
Publisher : <![CDATA[UPT Publikasi Ilmiah UNISBA ]]>
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DOI: 10.29313/amwaluna.v8i2.3949
<![CDATA[n modern economics applied by conventional financial institutions, the interest system is inseparable. Economic system based on sharia principles emerged as a solution to riba-based (usury-based) transactional activities, which in sharia economic law is in the khilafiyyah (dissent) territory amongst scholars regarding whether the conventional bank interest is riba which is prohibited by Islamic law. A figure named Muhammad Syahrûr came up and offered his theory of limits (nazhariyyah al-hudûd) in providing riba limitations in the Quran. This research aims to describe M. Syahrûr's thoughts on bank interest based on his theory of limits, and to analyze it based on the review of sharia economic law (fiqh muamalah mâliyyah). this reseach is understood as a literary study research which is a research on secondary materials. The type of data used in this research is secondary data, which is literature focusing on the thoughts of a figure, which is Muhammad Syahrûr.The result of the research shows that Muhammad Syahrûr's opininion that allows the practice of bank interest based on his theory of limits (nazhariyyah al-hudûd) is a marjûh (weak) opinion, since it is not supported by valid arguments and it also contradicts the opinions of the jumhur ulama (the majority of the scholars).]]>
<![CDATA[Analisis Komparasi Kebijakan Fiskal Masa Umawiyah, Abbasiyah, Umawiyah Di Spanyol dan Kerajaan Kecil ]]>
<![CDATA[Sobarna, Nanang]]>;
<![CDATA[Janwari, Yadi]]>;
<![CDATA[Al-Hakim, Sofyan]]>
<![CDATA[ Coopetition : Jurnal Ilmiah Manajemen Vol. 16 No. 1 (2025): Coopetition : Jurnal Ilmiah Manajemen ]]>
Publisher : <![CDATA[Program Studi Magister Manajemen, Institut Manajemen Koperasi Indonesia ]]>
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DOI: 10.32670/coopetition.v16i1.5231
<![CDATA[Fiscal policy had an important role in shaping the economic and social stability of society during the era of the Islamic Caliphate, starting from the Umawiyah and Abbasiyah periods, the Umawiyah in Spain to the Small Kingdoms. Fiscal policy during these times not only functions to collect revenue but also to support development, social welfare, and maintain political stability. This research aims to analyze the history of fiscal policy in various periods by highlighting the main sources of income, allocation of fiscal funds, and the effectiveness and benefits of policies in supporting economic development. This research approach uses a historical descriptive method by analyzing primary and secondary literature sources. The data collected includes aspects of fiscal policy such as the type and amount of taxes applied, financial administration systems, and budget distribution in various public sectors. The analysis is carried out comparatively to highlight the differences and similarities between fiscal policies during the times of large caliphates and small kingdoms in meeting the social and economic needs of society. The research results show that fiscal policy during the Umawiyah and Abbasiyah periods tended to rely on sources of income from agricultural taxes (kharaj), taxes on non-Muslims (jizyah), zakat, and trade taxes (usyr). During the Umawiyah period in Spain, fiscal policy succeeded in creating harmonious social and economic integration between Muslim and non-Muslim communities, thanks to fair tax policies and investment in community welfare.]]>
<![CDATA[Renewal Analysis of Islamic Stock Criteria in Indonesia ]]>
<![CDATA[Prasetyo, Yoyok]]>;
<![CDATA[Aen, Nurol]]>;
<![CDATA[Hakim, Sofyan Al]]>;
<![CDATA[Perwira, Mohammad Bagus Teguh]]>;
<![CDATA[Sukmarini, Dien]]>
<![CDATA[ Madania: Jurnal Kajian Keislaman Vol 23, No 2 (2019): DECEMBER ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Fatmawati Sukarno Bengkulu ]]>
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DOI: 10.29300/madania.v23i2.6293
<![CDATA[Muslim is the majority population in Indonesia. This has become a background to provide investment instruments to meet Islamic principles. This study analyzes the renewal of Islamic stock criteria established through Bapepam LK (The Financial Services Authority/OJK) regulations. This is normative juridical research, with the object of Bapepam LK Regulations regarding Islamic stock criteria. In Indonesia, the Islamic stock criteria were first established in 2007. Bapepam LK then made an update on the Islamic stock criteria in 2009, and the last update was in 2012. Updates in 2009 were carried out on qualitative criteria, while the quantitative criteria remained. This renewal made the criteria for Islamic stocks more stringent. While the renewal in 2012 was carried out on quantitative criteria, the qualitative criteria remained steady. This renewal had eased the criteria for Islamic stock. The results of the study showed that the issuance and renewal for the Islamic stock criteria was carried out by Bapepam LK based on the fatwa and approval letter of National Sharia Council (DSN) of Indonesian Ulema Council (MUI). The stipulation of the criteria for Islamic stocks is the outcome of DSN MUI’s ijtihad Negara Indonesia memiliki jumlah penduduknya muslim yang besar. Hal ini menjadi pendorong untuk menyediakan instrumen investasi berupa saham yang memenuhi kriteria syariat Islam. Penelitian ini menganalisa pembaharuan kriteria saham syariah yang ditetapkan melalui Perauran Bapepam LK (Sekarang OJK). Penelitian ini bersifat yuridis normatif, dengan objek Peraturan Bapepam LK tentang kriteria saham syariah. Di Indonesia, kriteria saham syariah ditetapkan pertama kali pada tahun 2007. Kemudian Bapepam LK melakukan pembaharuan dalam kriteria saham syariah pada tahun 2009. Dan terakhir pembaharuan dilakukan pada tahun 2012. Pembaharuan pada tahun 2009 dilakukan pada kriteria kualitatif, adapun kriteria kuantitatif tetap. Pembaharuan ini menyebabkan kriteria saham syariah semakin ketat. Sedangkan pembaharuan pada tahun 2012 dilakukan pada kriteria kuantitatif, adapun kriteria kualitatif tetap. Pembaharuan ini menyebabkan kriteria saham syariah mengalami pelonggaran. Hasil kajian menunjukan bahwa penerbitan dan pembaharuan demi pembaharuan kriteria saham syariah dilakukan Bapepam LK bersumber pada fatwa dan surat persetujuan Dewan Syariah Nasional (DSN) Majelis Ulama Indonesia (MUI). Penentuan dalam kriteria saham syariah merupakan hasil ijtihad DSN MUI.]]>
