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All Journal Journal of Contemporary Accounting Indonesian Journal of Advanced Research (IJAR)
Nurbaidah, Siti Umi
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Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media

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Evaluation of the substance of consumptive murabahah: Maqāṣid perspectives, regulation, and sharia accounting Nurbaidah, Siti Umi; Hidayah, Nur; Muhajirin, Muhajirin
Journal of Contemporary Accounting Volume 7 Issue 2, 2025
Publisher : Master in Accounting Program, Faculty of Business & Economics, Universitas Islam Indonesia, Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jca.vol7.iss2.art2

Abstract

This paper aims to evaluate the application of the Murabaha contract in consumer financing within Indonesian Islamic banks based on the substantive principles of sharia and the maqāṣid framework of Ibn ‘Āshūr. The study adopts a normative-qualitative and descriptive-comparative method analyzing PSAK 102/402, DSN-MUI fatwas, and real practices in Bank Syariah Indonesia (BSI). Data were collected through document review and interviews with practitioners. The findings reveal that current Murabaha practices emphasize administrative compliance over the substantive nature of sale transactions, with fixed margins often benchmarked to interest rates. This raises the potential for hidden riba and contradicts maqāṣid values such as ḥifẓ al-māl (wealth protection), al-‘adl (justice), and al-ṣidq (truthfulness). The paper proposes a margin determination model based on 'iwāḍ (legitimate compensation for risk and effort) and recommends reformulating financial reports aligned with maqāṣid principles. This study contributes to both conceptual and technical reform in Islamic finance, with significant implications for regulation and Islamic accounting education
Implementation of Digital E-Procurement in the Sharia Banking Ecosystem Nurbaidah, Siti Umi
Indonesian Journal of Advanced Research Vol. 4 No. 11 (2025): November 2025
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijar.v4i11.15744

Abstract

This study examines how e-Procurement implementation supports cost efficiency, strengthens sharia compliance, and addresses adoption challenges in Indonesian Islamic banks. Using a qualitative case study approach based on regulations, DSN-MUI fatwas, annual reports, and technological practices, the research highlights a conceptual gap in integrating maqāṣid al-sharī‘ah within digital procurement. Findings indicate that procurement digitization lowers transaction costs and enhances sharia compliance through digital hisbah-based audits. The study’s novelty lies in proposing a techno-fiqh integrative model that aligns economic efficiency with maqāṣid principles. Practical implications include recommendations for regulatory refinement, digital sharia auditing, and blockchain-based contract validation.
The Effect of Downstreaming, IMUS, and Inflation on Indonesia's Sharia Stock Index Aziz, Roikhan Mochamad; Nurbaidah, Siti Umi; Nurdiansyah, Dede; Hasan, Maskur; Al Fath, Muhammad
Indonesian Journal of Advanced Research Vol. 5 No. 3 (2026): March 2026
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijar.v5i3.16263

Abstract

Downstreaming, the Dow Jones Islamic Market US (IMUS), and inflation are suspected to affect the performance of the Indonesian Sharia Stock Index (ISSI). This study aims to analyze the direct and indirect influence of these three variables on ISSI for the 2019–2024 period. The method used is path analysis with monthly secondary data from reliable sources. The results show that inflation has a positive and significant effect on ISSI, while downstream and IMUS have no direct effect. However, IMUS has an indirect effect on ISSI through inflation as a significant mediating variable. These findings confirm that moderate inflation (3–4%) can support the performance of the Islamic capital market, while the downstream impact is not significant in the short term. This research makes a new contribution by integrating downstream policies, global Sharia indices, and macroeconomic variables in a single model and highlights the importance of maintaining inflation stability for investors and regulators. The implication is that the government needs to strengthen downstream policies with more concrete incentives, while investors can consider inflation as a key indicator in Islamic investment decision-making.
Co-Authors Al Fath, Muhammad Dede Nurdiansyah, Dede Hasan, Maskur Nur Hidayah Roikhan Mochamad Aziz, Roikhan Mochamad