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All Journal Jurnal Inovasi Ekonomi Syariah dan Akuntansi
Mohammad Luthfillah Habibi
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Economics, Econometrics & Finance

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Analisis Strategi Perekrutan dan Pola Kompensasi dalam Praktik Skema Piramida Berkedok Bisnis Multi Level Marketing Perspektif Ekonomi Islam Nafilah Hemalina Putri; Mohammad Luthfillah Habibi
Jurnal Inovasi Ekonomi Syariah dan Akuntansi Vol. 2 No. 6 (2025): November : Jurnal Inovasi Ekonomi Syariah dan Akuntansi
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/jiesa.v2i6.1752

Abstract

The development of modern business has given rise to various marketing models, one of which is Multi-Level Marketing (MLM). However, in practice, many parties misuse this system into a pyramid scheme, a business model that prioritizes profits from recruiting new members rather than from actual product sales. This phenomenon causes harm to society and raises moral as well as religious concerns in Islamic law. This study aims to analyze the recruitment strategies and compensation patterns used in pyramid schemes disguised as MLM, examine them from the perspective of Islamic economics, and provide a comparison with Multi-Level Marketing systems that operate in accordance with Islamic principles. This research employs a descriptive qualitative method with a literature study approach by reviewing various sources such as books, scientific journals, and relevant academic documents. The results indicate that the recruitment system and compensation pattern in pyramid schemes contain elements of gharar, tadlis, dharar, and zhulm, all of which contradict Islamic economic principles. Therefore, the public is advised to be more cautious in choosing MLM businesses, as such models are permissible in Islam only if they focus on selling lawful (halal) products, are conducted honestly and transparently, and provide fair benefits for all parties involved.
Pengaruh Volatilitas Harga Emas terhadap Keputusan Berinvestasi Nasabah: Studi Kualitatif pada Nasabah Bank Syariah Faizah Gladys Yuniashari; Mohammad Luthfillah Habibi
Jurnal Inovasi Ekonomi Syariah dan Akuntansi Vol. 2 No. 6 (2025): November : Jurnal Inovasi Ekonomi Syariah dan Akuntansi
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/jiesa.v2i6.1755

Abstract

This study aims to explore how gold price volatility influences customers’ investment decisions in Islamic banks within the framework of Islamic values. Employing a qualitative phenomenological approach, the research investigates the perceptions, motivations, and strategies of twelve active customers of Bank Syariah Indonesia in Surabaya through in-depth interviews. The findings reveal that gold price volatility does not necessarily reduce investment interest; instead, it stimulates adaptive and reflective behavior grounded in religious commitment and Islamic financial literacy. Investment decisions are shaped by three main factors: rational risk perception, religious conviction in the permissibility of gold as an Islamic instrument, and trust in the integrity of Islamic financial institutions. Thus, gold price volatility is interpreted not only as an economic signal but also as a social and spiritual phenomenon that fosters financial maturity among investors. The study concludes that faith-driven investment behavior contributes to financial resilience and moral stability amid market uncertainty. These insights enrich the field of Islamic behavioral finance by highlighting the integration of economic rationality and spiritual values in investment decision-making.
Co-Authors Faizah Gladys Yuniashari Nafilah Hemalina Putri