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All Journal Journal of Islamic Economics and Philanthropy Journal of Asset Management and Public Economy JIDE : Journal Of International Development Economics Journal of Multidisciplinary Sustainability Asean Islamic Studies in the World
Putra, Budi Jaya
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Religion Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Library & Information Science Social Sciences Other

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Comparison of Efficiency Principles for Welfare in Islamic and Socialist Economic Systems Putri, Ega Seliyan; Aini, Alfithisnain Nur; Tsabitah, Nasywa Shafa; Putra, Budi Jaya
Journal of Islamic Economics and Philanthropy Vol. 7 No. 4 (2025): May
Publisher : Universitas Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/jiep.v7i4.12575

Abstract

The economic theory that aspires to is an economic system that is able to create justice and common prosperity, accompanied by the concept of the blessings of the world and the hereafter. This is the theory of Islamic economics that will bring justice and comprehensive prosperity. Islamic economics is considered a solution to overcome contemporary economic problems. The source of thought of the Islamic economic system is the Islamic creed and ideology which is based on the Qur'an and as-Sunnah. With this foundation, Islamic economics is distinctive, unique and different from socialist or communist economic systems. The Islamic economic system is an independent economic system and is independent of other economic systems. What distinguishes the Islamic economic system from other economic systems is that the principles of Islamic economics in the application of the principle of efficiency still maintain the preservation of the natural environment. The economic motive of Islam is to seek luck in this world and in the hereafter like the caliph with the way of worship in a broad sense. Islam recognizes the welfare of individuals and the social welfare of society that complement each other, not compete and contradict each other.
Strategy And Optimization of the Role of Productive Waqf in People’s Economic Empowerment Gatari, Altis Puspa; Zuhairoh, Saffaanah; Darokah, Husna Enggar Dani; Putra, Budi Jaya; Lubis, Ramadhona Amalia; Kurniawan, Mahrus Lutfi Adi
Journal of Islamic Economics and Philanthropy Vol. 7 No. 3 (2025): February
Publisher : Universitas Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/jiep.v7i3.12784

Abstract

Waqf is an Islamic economic instrument that has great potential in supporting social and economic development. However, in Indonesia, waqf management is still not optimal, with most waqf assets not being utilized productively. This article analyzes the strategy and optimization of productive waqf in community economic empowerment, highlighting the challenges faced and innovative solutions that can be applied. The research method used is a literature study with a qualitative approach. The results show that effective strategies to maximize productive waqf include strengthening regulations, increasing the capacity of nadzir, integration with Islamic financial institutions, and implementing waqf-based business models. Case studies from various countries show that well-managed waqf can have a significant economic impact, including in the education, health and micro-enterprise sectors. This study concludes that with the implementation of appropriate strategies, productive waqf can be an important instrument in economic empowerment and improving the welfare of the community, as well as supporting sustainable economic development.
Implementation of Tax in Indonesia from the Perspectives of Muhammadiyah and NU Putra, Budi Jaya; Tri Wibowo, Wahyu
JAMPE (Journal of Asset Management and Public Economy) Vol. 4 No. 2 (2025)
Publisher : Universitas Ahmad Dahlan, Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/jampe.v4i2.13200

Abstract

Taxes remain a widely-discussed topic. It is because taxes are not only limited to state finances but also play a crucial role in a country’s development. This study examines the implementation of taxes (Tax Law, Education Tax, and Tax Amnesty) in a country from the perspectives of Muhammadiyah and Nahdlatul Ulama (NU). This study aims to provide scientific contributions and fill the gap regarding the role of Islamic organizations, specifically Muhammadiyah and NU, in Indonesia, in terms of tax implementation. This study employs the library method as its research approach. The method involves collecting information from laws and regulations, as well as books and articles related to state regulations and the statements or decisions of organizations. The results of the study indicate that Muhammadiyah and NU share the same view regarding tax law. They consider taxes mandatory. For the VAT on education, Muhammadiyah and NU disagree. It is because they also consider it to be contrary to the spirit of Pancasila and the welfare of the people. Furthermore, Muhammadiyah agrees with tax amnesty. However, Muhammadiyah continues to provide input and suggestions to the government. On the other hand, NU has not reached an agreement on the tax amnesty law. Upon examining previous decisions, it was found that NU did not permit Tax Amnesty. This study contributes to the formulation of more inclusive and equitable public policies by integrating the religious perspectives of Muhammadiyah and NU on the implementation of taxes in Indonesia. Thus, it will increase the legitimacy, compliance, and trust of the Muslims in the national taxation system.
Characteristics and Design of Islamic Economy Putra, Budi Jaya; Gatari, Altis Puspa
Journal of Multidisciplinary Sustainability Asean Vol. 1 No. 2 (2024)
Publisher : Yayasan Adra Karima Hubbi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/ijmsa.v1i2.1099

Abstract

Background. Islamic economics is an economic system rooted in sharia principles, emphasizing justice, social welfare, and ethical business practices. In recent years, there has been a growing interest in understanding and implementing Islamic economic principles as an alternative to conventional economic systems. Purpose. The primary aim of this research is to design and build a comprehensive Islamic economic framework. By examining both classical and contemporary literature, this study seeks to identify fundamental concepts and practices that define Islamic economics and explore how these can be applied in today's economic environment. Method. The research utilizes a library research method, which involves extensive literature review. Data collection was conducted by searching written sources such as academic books, scholarly journals, articles from online databases, and official documents. Results. The study found that Islamic economics provides a sustainable and ethical alternative to conventional economic systems. The proposed Islamic economic framework emphasizes distributive justice, inclusive economic participation, and responsible resource management. The research highlights how these principles can be applied in modern contexts, addressing challenges and ensuring alignment with sharia principles. Conclusion. The study concludes that the Islamic economic framework offers a viable and ethical alternative to conventional economic models, promoting fairness and social welfare. It also suggests several recommendations for integrating these principles into national economic policies to ensure more effective implementation.
Islamic Economy: Buying And Selling, Syirkah, Rahn And Agreement Of Agreements Apriliana, Dwi; Putra, Budi Jaya
Islamic Studies in the World Vol. 1 No. 4 (2024)
Publisher : Yayasan Adra Karima Hubbi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/isw.v1i4.1024

Abstract

Background. Islamic economy is grounded in principles derived from Islamic teachings, which emphasize ethical practices in economic transactions. The core aspects of Islamic economics include guidelines for buying and selling, partnerships (syirkah), collateral (rahn), and the formulation of agreements (aqd). These principles aim to promote fairness, justice, and transparency in trade and financial activities. However, the modern application of these principles remains a subject of debate, especially as it intersects with contemporary economic systems and financial practices. Purpose. This study aims to explore the Islamic economic principles related to buying and selling, syirkah, rahn, and agreements, analyzing their application in modern economies. It also seeks to examine the potential challenges and opportunities that arise when these principles are applied in today’s financial and business environments. Method. This research employs a qualitative approach, reviewing Islamic jurisprudence (fiqh) related to economic transactions and agreements. Data is gathered through literature reviews, case studies, and interviews with Islamic scholars and practitioners in the field of Islamic finance. Results. The findings suggest that while Islamic economic principles provide a solid ethical framework for business practices, there are challenges in adapting these principles to contemporary markets, particularly regarding interest-based transactions and the regulation of modern financial institutions. Syirkah and rahn are found to be effective tools for promoting fairness, but their implementation requires careful attention to Islamic legal requirements. Conclusion. The study concludes that the Islamic economic system offers valuable principles for ethical business practices but faces challenges in its full implementation within modern economic systems. Further efforts are needed to bridge the gap between Islamic finance principles and contemporary economic practices.
ANALISIS PRINSIP-PRINSIP EKONOMI ISLAM DALAM PENGGUNA SHOPEEPAYLATER Rahmadhani, Nayla; Putra, Budi Jaya
JIDE : Journal Of International Development Economics Vol 4 No 02 (2025): JIDE : Journal Of International Development Economics
Publisher : Pusat Studi Ekonomi, Publikasi Ilmiah dan Pengembangan SDM

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62668/jide.v4i02.1926

Abstract

Shopee Paylater is one of the innovations in the form of digital payments that is increasingly popular among the public in the era of the digital economy. However, from the perspective of sharia economics, the use of this feature raises various debates regarding its compliance with sharia principles, especially regarding the prohibition of usury, gharar (uncertainty), and masyir (gambling). This research applies a qualitative method with a literature approach to examine the practice of Shopee Paylater based on sharia economic principles. The findings of this study show that Shopee Paylater has elements of usury due to interest and penalties, and potentially contains gharar and masyir due to uncertainty in fees and the risk of default. In addition, the ease of access to Paylater can trigger consumer behavior that is not in line with Islamic values. Thus, it is important to provide Islamic financial education to consumers and establish strict regulations so that digital payment practices can follow economic principles.
Co-Authors Aini, Alfithisnain Nur Apriliana, Dwi Darokah, Husna Enggar Dani Gatari, Altis Puspa Lubis, Ramadhona Amalia Mahrus Lutfi Adi Kurniawan, Mahrus Lutfi Adi Putri, Ega Seliyan Rahmadhani, Nayla Tri Wibowo, Wahyu Tsabitah, Nasywa Shafa Zuhairoh, Saffaanah