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Perbedaan Perbankan Syariah dengan Konvensional Wahyuna, Sari; Zulhamdi, Zulhamdi
Al-Hiwalah : Journal Syariah Economic Law Vol. 1 No. 2 (2022): AL-Hiwalah: Journal Syariah Economic Law
Publisher : Department of Islamic Economic Law, Faculty of Sharia, State Islamic Institute of Lhokseumawe

This article aims to test the financial performance between Islamic Banks and Conventional Banks, and examine the influence of financial performance on investment decisions, both in Islamic Banks and Conventional Banks. Basically it has a function as a place to collect funds from the public in the form of savings and distribute them again to the community in the form of credit or other forms in order to improve the standard of living of the people as explained in Law Number 10 of 1998 concerning Banking, so that today's society many use banking services in Indonesia, but many Indonesian people are now starting to hesitate to use banking services, especially conventional banking because it adheres to the interest system which according to Islam is forbidden. As an alternative for people who are afraid of bank interest, Islamic banking is born which applies a profit-sharing system in calculating the profits of its funds and based on Islamic law is recognized as halal. Differences Islamic Banks and Conventional Banks:. Sharia banking law is based on Islamic sharia based on the Qur'an and Hadith and Fatwa Ulama (MUI) while conventional banks are legal based on positive law applicable in Indonesia (Civil and Criminal). violates Islamic law (only for halal businesses) while lending to conventional banks can be done in various businesses that are considered safe and profitable. As long as it doesn't violate applicable laws and regulations

Perbedaan Perbankan Syariah dengan Konvensional Wahyuna, Sari; Zulhamdi, Zulhamdi
Al-Hiwalah : Journal Syariah Economic Law Vol. 1 No. 2 (2022): AL-Hiwalah: Journal Syariah Economic Law
Publisher : Department of Islamic Economic Law, Faculty of Sharia, State Islamic Institute of Lhokseumawe

This article aims to test the financial performance between Islamic Banks and Conventional Banks, and examine the influence of financial performance on investment decisions, both in Islamic Banks and Conventional Banks. Basically it has a function as a place to collect funds from the public in the form of savings and distribute them again to the community in the form of credit or other forms in order to improve the standard of living of the people as explained in Law Number 10 of 1998 concerning Banking, so that today's society many use banking services in Indonesia, but many Indonesian people are now starting to hesitate to use banking services, especially conventional banking because it adheres to the interest system which according to Islam is forbidden. As an alternative for people who are afraid of bank interest, Islamic banking is born which applies a profit-sharing system in calculating the profits of its funds and based on Islamic law is recognized as halal. Differences Islamic Banks and Conventional Banks:. Sharia banking law is based on Islamic sharia based on the Qur'an and Hadith and Fatwa Ulama (MUI) while conventional banks are legal based on positive law applicable in Indonesia (Civil and Criminal). violates Islamic law (only for halal businesses) while lending to conventional banks can be done in various businesses that are considered safe and profitable. As long as it doesn't violate applicable laws and regulations

Kebijakan Belanja Negara dalam Tinjauan Fikih Ibrahim, Yusriadi; Zulhamdi, Zulhamdi
Al-Hiwalah : Journal Syariah Economic Law Vol. 2 No. 2 (2023): Al-Hiwalah : Journal Syariah Economic Law
Publisher : Department of Islamic Economic Law, Faculty of Sharia, State Islamic Institute of Lhokseumawe

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47766/alhiwalah.v2i2.1551

Islam is a perfect teaching that includes learning norms for human life in the world and the hereafter, including economic learning which includes the State's shopping policy as one of the fiscal tools of the State, all of which have a purpose for the welfare of individuals and society. In this paper, the author will try to collect data from several literatures to examine briefly how Islam and economics as well as the State expenditure policy based on Islam, in terms of understanding, history, its application in modern times, as well as its combination with existing conventional system or which has been applied in advance by States which sometimes cause obstacles and problems in its implementation. Islam is a perfect teaching that includes learning norms for human life in the world and the hereafter, including economic learning which includes the State's shopping policy as one of the fiscal tools of the State, all of which have a purpose for the welfare of individuals and society. In this paper, the author will try to collect data from several literatures to examine briefly how Islam and economics as well as the State expenditure policy based on Islam, in terms of understanding, history, its application in modern times, as well as its combination with existing conventional system or which has been applied in advance by States which sometimes cause obstacles and problems in its implementation.

The Concept of Profit In Syirkah Al-‘Inān Islamic Economic Perspective: Study at People's Banks Ipoh, Perak Malaysia Junaidy, Athailah; Ikbal, Muhammad; Zulhamdi, Zulhamdi
Al-Hiwalah : Journal Syariah Economic Law Vol. 2 No. 2 (2023): Al-Hiwalah : Journal Syariah Economic Law
Publisher : Department of Islamic Economic Law, Faculty of Sharia, State Islamic Institute of Lhokseumawe

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47766/alhiwalah.v2i2.1948

This research is about studying the concept of "advantages of syirkah al-inan from the perspective of the Islamic Economic System". To achieve the above objectives, the author applied the following methodology in his research: Collecting data/information from a number of libraries and institutions; Field studies by studying Bank Rakyat data to add the information needed. The interview method is used to conduct interviews with respondents who are directly involved with the research topic, for example Managers and Sharia Administrators at the bank; and Relying on the Al-Quran, Hadith, opinions of Ulama whose opinions have been embedded in famous books and studies carried out by contemporary Islamic thinkers. Based on this research, the author is able to understand the concept of profit in syirkah al-Inan from an Islamic economic perspective. The author found that musyarakah or syirkah is a form of cooperation between two or more people to carry out a business or activity motivated by profit. Musyarakah is an instrument offered by Bank Rakyat. Therefore, this research will describe the problem of syirkah al-inan from the perspective of Islamic law and its application, especially at Bank Rakyat and conclude whether the concept used is in accordance with Islamic sharia or not. If we observe the opinions of the schools of thought we find that there are two main concepts in profit sharing. Based on the Syafie school of thought, profit sharing is based on the ratio of capital injected by partners. The second profit sharing concept is based on what has been previously agreed without reference to the ratio of capital injected. The second concept is based on the Imam Hanafi school of thought. Based on observations made, it was found that Bank Rakyat has implemented the Islamic Sharia Banking concept, especially in the problem of profit distribution in its musyarakah products. Therefore, the issue of profit sharing is very important not only as an index to determine the success or failure of a partnership, but also as a benchmark that the targeted profits for the company have been achieved. Therefore, the model used in sharing profits based on sharia requires a clear response and never fails. The author hopes that this research can become a useful guide for society

Sharia Economic Dispute Resolution Model According to Qanun No. 11 of 2018 concerning Sharia Financial Institutions Rizal, Syamsul; Dara, Cut; Khadafi, Muammar; Kafrawi, Kafrawi; Husnaini, Husnaini; zulhamdi, zulhamdi
Al-Hiwalah : Journal Syariah Economic Law Vol. 3 No. 1 (2024): Al-Hiwalah : Journal Syariah Economic Law
Publisher : Department of Islamic Economic Law, Faculty of Sharia, State Islamic Institute of Lhokseumawe

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47766/alhiwalah.v3i1.2893

When many business entity activities start to appear that use the sharia label, the resolution must be carried out by institutions that truly understand sharia economics. So, creating economic products that have the term sharia attached to them is not easy and requires various kinds of adjustments, such as; applicable laws and regulations, contemporary economic developments in global society which tend to be value-free, varied transaction models, and so on. All of this must be able to be adjusted to sharia principles. The problem formulation in this research is: What is the Sharia Economic Dispute Resolution Model seen from Qanun No. 11 of 2018 concerning Sharia Financial Institutions? The type of research used is library research, namely by studying and examining sources. written text that is relevant to the discussion material. The results of this research are a model for Sharia Economic Dispute Resolution after the implementation of Qanun No. 11 of 2018 concerning Sharia Financial Institutions, a model for resolving disputes through non-litigation (outside of court), namely a model for resolving disputes that is carried out using methods that exist outside of court. usually called an alternative dispute resolution institution.

Hutang Uang Dibayar Emas dan Akibat Hukumnya Terhadap Para Pihak Mahyuni, Mahyuni; Zulhamdi, Zulhamdi; Ulfah, Almira Keumala
el hisbah Journal of Islamic Economic Law Vol 4 No 2 (2024)
Publisher : Fakultas Syariah dan Hukum

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28918/elhisbahjournalofislamiceconomiclaw.v4i2.9232

This study aims to analyze the payment of debt with gold and its legal consequences for the parties. The research method uses empirical juridical with a qualitative approach. This study was conducted in the Muslim community in North Aceh Regency. Data collection techniques use observation, interviews and documentation. The analysis technique uses an interactive model. The research findings were analyzed using the perspective of Islamic economic law. The results of the study indicate that the mechanism for paying debts with gold in North Aceh Regency, initially the debtor (muqtarid) receives money from the price/measurement of gold then returns it to the creditor (muqrid) with previously measured gold. Reviewed from Islamic economic law, paying debts with gold in North Aceh Regency violates the pillars of debt and receivables. In debt and receivable transactions, "it is obligatory for the borrower to return the missile of the property that is owed to him". As a solution, hillah (حيلة) is carried out, namely money is turned into gold and then paid with gold, this is formally valid but not morally valid because it is contrary to the principle of mutual assistance in Islamic economic law. This study contributes to the development of Islamic economic law, especially as a reference for debt and receivables transactions as prescribed by Islam.

Punishment for Prostitution Offenders in the Review of Maqashid Syariah Syarif, Muhammad; Zakaria, Zakaria; Zulhamdi, Zulhamdi; Hasbi, Husnaini; Nazir, Muhammad
Al-Hiwalah : Journal Syariah Economic Law Vol. 3 No. 2 (2024): Al-Hiwalah : Journal Syariah Economic Law
Publisher : Department of Islamic Economic Law, Faculty of Sharia, State Islamic Institute of Lhokseumawe

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47766/al-hiwalah.v3i2.4715

Prostitution which is prostitution is very dangerous for the maintenance of offspring (hifz al-nasl) and lead to criminal acts of crime under Islamic law. This library research was conducted by studying books and journals that are relevant to the writing of this article. In the Islamic perspective there is no nomenclature implicitly mentioning prostitution. Prostitution is the provision of sexual services by a man or a woman for money or satisfaction. Prostitution or prostitution is defined as adultery. Prostitution is a practice that destroys the foundations of family life, morality, morality, law and religion. In the Qur'an it is explained that the appropriate punishment for adulterymuhsan in the form of punishment of stoning and adulteryghairu muhsan was subject to a penalty of 100 lashes. Give punishment to the perpetrators of prostitution to prevent the occurrence of acts of adultery that can damage the sustainability of human life, especially aspects dharuriat, namely maintenance hifz al-nasl. Punishments are given in order to create sharia goals and punishment in Islamic law which includes prevention and guidance can be achieved and creates a deterrent effect for perpetrators, and not to repeat the act. Keywords: Punishment, Prostitutes, Maqashid Sharia

The Transformation of Risk Management in Islamic Financial Institutions: A Sharia Economic Law Perspective Desky, Harjoni; Zulhamdi, Zulhamdi; Savitri, Asmah
Al-Hiwalah : Journal Syariah Economic Law Vol. 4 No. 1 (2025): Al-Hiwalah : Journal Syariah Economic Law
Publisher : Department of Islamic Economic Law, Faculty of Sharia, State Islamic Institute of Lhokseumawe

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47766/al-hiwalah.v4i1.6060

Risk management in Islamic financial institutions presents a unique challenge due to the dual necessity of aligning with conventional management practices and the legal-ethical framework of Sharia. The central problem of this research is the lack of integration between evolving risk management practices and the foundational principles of Sharia Economic Law, which often leads to either operational inefficiency or potential non-compliance with Islamic legal norms. This disconnect becomes more critical due to increasing financial complexity, technological innovation, and regulatory demands. Therefore, this study addresses the following research question: How is risk management transforming within Islamic financial institutions, and to what extent does this transformation comply with the principles of Sharia Economic Law? The study also explores whether such transformation strengthens the Islamic finance sector's legal certainty, stakeholder trust, and institutional resilience. This research adopts a qualitative-descriptive method with a normative legal approach. Data were collected through document analysis of legal provisions, fatwas, and risk management frameworks used in selected Islamic financial institutions. In-depth interviews with Sharia board members and risk officers from Islamic banks were also conducted to capture practical insights and legal reasoning. The findings show that the transformation of risk management in Islamic financial institutions is occurring on three fronts: technological adoption (e.g., AI and big data for risk analysis), regulatory compliance alignment (integration of OJK and DSN-MUI standards), and internal policy development grounded in maqashid al-shariah. However, the study finds inconsistencies between implementation and Sharia legal standards, particularly in credit and liquidity risks, where conventional models are still dominant. The research concludes that a robust Sharia Economic Law framework and ethical managerial reform is essential to ensuring that risk management practices in Islamic financial institutions mitigate risk and uphold Islamic legal and moral obligations

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