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All Journal Proceeding of The International Conference on Economics and Business Hakamain: Journal of Sharia and Law Studies
Ramadhan SY, Taufik
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Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice

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Analysis of Overpayment Practices in Arisan with the Principles of Sharia Economic Law Edo Rahman, Muhammad; Ramadhan SY, Taufik; Refliandi , Irvan; Yusral Fuadi, Mhd
Hakamain: Journal of Sharia and Law Studies Vol. 3 No. 1 (2024): June 2024
Publisher : Yayasan Lembaga Studi Makwa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57255/hakamain.v3i1.331

Abstract

This study delves into the practice of overpayment within Arisan, a traditional community-based financial system, through the framework of Sharia Economic Law. Arisan, known for its role in promoting savings and social solidarity, operates as a rotating savings and credit association where members contribute to a common fund that is periodically distributed among them. However, the issue of overpayment—where some participants pay more than others raises significant concerns regarding its compliance with Islamic financial principles. The research employs a qualitative approach to explore how overpayment practices in Arisan align with or contradict Sharia principles, particularly those prohibiting riba (usury), gharar (excessive uncertainty), and the requirement for fairness and justice in financial transactions. Through a comprehensive analysis of these principles, the study finds that overpayment in Arisan can lead to potential violations of Sharia law, especially when it results in financial inequities or the unjust enrichment of certain participants at the expense of others. The findings suggest that while Arisan can be a valuable tool for economic cooperation and community support, it must be carefully managed to ensure Sharia compliance. The study concludes by recommending specific adjustments to Arisan practices, such as the implementation of standardized payment structures and transparent agreements among participants, to safeguard against overpayment and ensure that the system operates within the ethical and legal boundaries of Sharia Economic Law. This ensures that Arisan continues to serve its purpose without compromising Islamic ethical standards.  
Potential of Zakat as an Alternative Source of Financing for MSMEs: A Review of the Perspective of Islamic Economics Ramadhan SY, Taufik; Aidil Alfin; Eli Febriani; Indra Saputra
Proceeding of The International Conference on Economics and Business Vol. 3 No. 2 (2024): Proceeding of The International Conference on Economics and Business
Publisher : Universitas Kristen Indonesia Toraja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55606/iceb.v3i2.436

Abstract

This study discusses the potential of zakat as an alternative source of financing for Micro, Small, and Medium Enterprises (MSMEs) from a sharia economic perspective. Zakat not only functions as a religious obligation, but also an economic instrument that supports community empowerment, especially MSME actors. In the Indonesian context, the MSME sector plays a strategic role in economic growth, but often faces financing constraints from formal financial institutions. This study examines the extent to which productive zakat can support MSMEs through the distribution of business capital, skills training, and capacity development. Based on library research methods, it was found that although zakat has great potential to strengthen MSMEs, its implementation still faces challenges, such as less transparent management and less than optimal coordination between stakeholders. This study recommends more professional zakat management, increased coordination between zakat institutions and the government, and training for zakat recipients so that its impact is more sustainable. By optimizing the use of zakat, it is hoped that MSMEs can develop inclusively, while supporting national economic growth.
Co-Authors Aidil Alfin Edo Rahman, Muhammad Eli Febriani Indra Saputra Refliandi , Irvan Yusral Fuadi, Mhd