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All Journal JIHAD : Jurnal Ilmu Hukum dan Administrasi Indonesian Journal of Legality of Law Qisthosia Prosiding Seminar Nasional Sisfotek (Sistem Informasi dan Teknologi Informasi) MODERAT: Jurnal Ilmiah Ilmu Pemerintahan West Science Law and Human Rights West Science Islamic Studies
Sufriaman, Sufriaman
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Religion Humanities Computer Science & IT Education Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences

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Journal : West Science Islamic Studies

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Islamic Law Review of Sharia Cooperative Practices in Indonesia Judijanto, Loso; Sufriaman, Sufriaman; Muhammadong, Muhammadong; Mu'min, Halek
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.v2i04.1347

Abstract

This paper examines the practices of Sharia cooperatives in Indonesia through an Islamic law perspective, focusing on their adherence to Sharia principles, the effectiveness of existing legal frameworks, and the operational challenges they face. Utilizing a comprehensive literature review, the study reveals that while Sharia cooperatives aim to provide ethical financial solutions, many struggle with compliance due to inadequate understanding of Islamic finance, regulatory ambiguities, and governance issues. The findings highlight the importance of enhancing regulatory clarity, establishing robust Sharia supervisory bodies, and fostering continuous education among cooperative managers and staff. By addressing these challenges, Sharia cooperatives can better align their practices with Islamic law and contribute to the broader Islamic finance ecosystem in Indonesia.
Islamic Law Review of Sharia Cooperative Practices in Indonesia Judijanto, Loso; Sufriaman, Sufriaman; Muhammadong, Muhammadong; Mu'min, Halek
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.v2i04.1347

Abstract

This paper examines the practices of Sharia cooperatives in Indonesia through an Islamic law perspective, focusing on their adherence to Sharia principles, the effectiveness of existing legal frameworks, and the operational challenges they face. Utilizing a comprehensive literature review, the study reveals that while Sharia cooperatives aim to provide ethical financial solutions, many struggle with compliance due to inadequate understanding of Islamic finance, regulatory ambiguities, and governance issues. The findings highlight the importance of enhancing regulatory clarity, establishing robust Sharia supervisory bodies, and fostering continuous education among cooperative managers and staff. By addressing these challenges, Sharia cooperatives can better align their practices with Islamic law and contribute to the broader Islamic finance ecosystem in Indonesia.
Co-Authors Abd Rahman Andi Ismayana Wahid Hamid, Sainul Isvany, Andi Lulu Jaya, Karman Judijanto, Loso Kursini Murham Mahka, Muh Fachrur Razy Mahka, Muh. Fachrur Razy Mappiwali, Hermawati Mu'min, Halek Muhammadong Sugeng Santoso Triyantoro, Andri