Hozinul Asror
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Synergy between Sharia Trade Financing and Indonesian Economic Diplomacy in Enhancing Intra-OIC Trade abdulmajid; Hozinul Asror; Nur Kholis
International Journal of Economics Accounting and Management Vol. 2 No. 4 (2025): IJEAM - November 2025
Publisher : PT. INOVASI TEKNOLOGI KOMPUTER

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60076/ijeam.v2i4.1635

Abstract

This study aims to analyze the synergy between Islamic trade financing and Indonesia's economic diplomacy in strengthening intra-Organization of Islamic Cooperation (OIC) trade. Although various Islamic economic initiatives have been launched through the Islamic Development Bank (IsDB) and the International Islamic Trade Finance Corporation (ITFC), the level of economic integration among OIC member countries remains relatively low, with intra-OIC trade accounting for only 16–17% of the total global trade of member countries. This condition indicates a gap between the financial potential of Islamic financial institutions and the effectiveness of national economic diplomacy policies. This study uses a qualitative approach through a literature review to explore academic literature, policy documents, and reports from Islamic financial and diplomatic institutions. The results of the analysis show that sharia trade financing plays an important role in supporting trade flows between Muslim countries through financial instruments such as murabahah, istisna, and wakalah bil ujrah, but its impact is still limited without the support of proactive economic diplomacy. Furthermore, Indonesia's economic diplomacy focuses on promoting halal products and multilateral cooperation, but it has not been effectively integrated with existing sharia financing schemes. This study recommends developing an Islamic Economic Diplomacy model that incorporates financial and diplomatic dimensions into a single policy framework, emphasizing three main pillars: institutional coordination, integration of financing and trade promotion, and strengthening of value-based diplomacy based on maqāṣid al-sharī‘ah. This synergy is expected to enhance intra-OIC trade competitiveness, expand the global halal value chain, and position Indonesia as the center of gravity for a just, inclusive, and sustainable global Islamic economy.
Strengthening Sharia Bank Operational Management Through Internalization of Sharia Compliance Hozinul Asror; Mugiyati
International Journal of Economics Accounting and Management Vol. 2 No. 4 (2025): IJEAM - November 2025
Publisher : PT. INOVASI TEKNOLOGI KOMPUTER

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60076/ijeam.v2i4.1664

Abstract

This study aims to analyse the strengthening of Islamic bank operational management through the internalisation of Shariah compliance as a strategic instrument, not merely as a normative obligation. The method used is a literature review of various previous studies, regulations, and implementation practices in Indonesian Islamic banking. The results of the analysis show that the internalisation of Shariah compliance can be realised through five main strategies, namely strengthening the competence and independence of the Shariah Supervisory Board (DPS), utilising service digitalisation, increasing Shariah financial literacy, improving regulations related to DPS opinions, and integrating digitalisation with aspects of customer security and trust. These findings confirm that Shariah compliance not only serves to ensure the conformity of products and transactions with Islamic law, but also strengthens governance, operational effectiveness, and the competitiveness of the Islamic banking industry. Thus, this study concludes that the internalisation of Shariah compliance is key to maintaining the integrity of Shariah principles while promoting sustainability and public trust in Islamic banks in Indonesia.