Rozalinda
UIN Imam Bonjol Padang

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Perfectly Competitive Markets in Islamic Economics: A Systematic Literature Review on Efficiency, Justice and Market Ethics Junia Mayang Sari; Rozalinda; Testru Hendra
Jurnal Investasi Islam Vol. 11 No. 1 (2026): Jurnal Investasi Islam (JII)
Publisher : FEBI IAIN Langsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32505/jii.v11i1.14869

Abstract

This study aims to analyze the development of research on perfect competition markets from an Islamic economic perspective using a Systematic Literature Review (SLR) approach. Previous research has generally focused more on market efficiency in conventional economics, while the integration of efficiency, justice, and Sharia ethics has been discussed only to a limited extent in a systematic manner. Furthermore, there are still relatively few SLR studies on perfect competition markets in Islamic economics. This study employs the PRISMA method on Scopus-indexed and web of science articles from 2019 to 2025 using the keyword “perfect competition market in Islamic perspective.” From the initial 85 articles identified, a screening process was conducted based on topic relevance, methodological suitability, and eligibility criteria. Consequently, 10 final articles were selected for in-depth analysis. The results indicate that previous studies have been dominated by discussions of market efficiency and price mechanisms, while aspects of market ethics, Sharia oversight, and distributive justice remain relatively under-researched. Furthermore, most studies remain conceptual and normative, with limited empirical research on the implementation of Islamic markets within the context of modern economics. This study underscores the importance of developing Sharia-based market regulations and models that are oriented not only toward economic efficiency but also toward social justice and welfare.
Rekonstruksi Kebijakan Ekonomi Rasulullah pada masa Modern: Pendekatan Riil, Moneter, dan Fiskal Annisa Maulidia Alfian; Rozalinda; Meirison; Alfian
At-Tasharruf "Jurnal Kajian Ekonomi dan Bisnis Syariah" Vol. 7 No. 2 (2025): At-Tasharruf
Publisher : Universitas Muhammadiyah Jember

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Abstract

This article aims to reconstruct Islamic economic policy based on the practice of the Prophet Muhammad with an integrated approach between the real, monetary and fiscal sectors. By using a qualitative literature study method through historical and normative analysis, this research examines how the Prophet built an economic system that is fair, sustainable, and in accordance with maqashid al-shariah. In the real sector, the Prophet created the Madinah market as an economic space free from monopoly, hoarding, and fraudulent practices, and upheld business ethics. In the monetary sector, the prohibition of usury and the use of intrinsic value-based currencies demonstrate a commitment to value stability and fairness in transactions. While in the fiscal sector, the management of zakat, jizyah, and baitul mal reflect redistributive policies that encourage social welfare and economic empowerment of the people. The findings recommend that contemporary economic policies, especially in Muslim countries, consider the integration of these three sectors as a unit that encourages an inclusive and benefit-based Islamic economic system. The practical implications include the importance of market reforms, transformation of productive Islamic financing systems, and strengthening the role of Islamic fiscal in the public policy framework.