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All Journal Profit : Jurnal Kajian Ekonomi dan Perbankan Syariah Balanca : Jurnal Ekonomi dan Bisnis Islam Al-Hukmi : Jurnal Hukum Ekonomi Syariah dan Keluarga Islam Priviet Social Sciences Journal Al Maqashidi : Jurnal Hukum Islam Nusantara Al-Ahkam: Jurnal Ilmu Syari'ah dan Hukum Al-Infaq : Jurnal Ekonomi Islam International Journal of Sharia and Law AL-MAIYYAH: Media Transformasi Gender dalam Paradigma Sosial Keagamaan
Muhammad Said
Institut Agama Islam Negeri Parepare
Religion Humanities Economics, Econometrics & Finance Education Environmental Science Law, Crime, Criminology & Criminal Justice Mathematics Social Sciences Other

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ANALISIS PENGARUH INFLASI DALAM PENENTUAN NOMINAL UANG PANAI PADA MASYARAKAT BUGIS Ahmad, Ahmad; Muhammad Said; Naharuddin SR; Minhajuddin Madi; Muh. Nur Hidayat
Al Maqashidi : Jurnal Hukum Islam Nusantara Vol. 8 No. 1 (2025): Al Maqashidi : Jurnal Hukum Islam Nusantara
Publisher : UNIVERSITAS NAHDLATUL ULAMA SUNAN GIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32665/almaqashidi.v8i1.4578

Abstract

The tradition of determining uang panai (bridal gift) in Bugis society has faced challenges due to economic pressures, particularly inflation, which impacts the nominal value and its cultural significance. This study aims to analyze the influence of inflation on the determination of uang panai nominal and its alignment with Islamic family law and humanitarian values. Employing a qualitative approach, data were collected through in-depth interviews with six informants (three Bugis families, one adat leader, and two religious figures) and participatory observation of five uang panai negotiations in Makassar and Bone from February to April 2025. Findings reveal that inflation (18.09% from 2019–2024) has driven a significant increase in uang panai nominal, reaching Rp70 million in Makassar, often exceeding economic capacity and shifting its meaning from a symbol of honor (siri’) to a financial burden. However, some communities show flexibility by adjusting nominals, using phased payments, or substituting with goods like gold, aligning with Islamic principles of ease (taysīr) and humanitarian values like family harmony (pacce).
Optimalisasi Fintech Syariah untuk Inklusi Keuangan di Indonesia di Era Digital: Perspektif Ekonomi Islam. Said, Muhammad
Balanca : Jurnal Ekonomi dan Bisnis Islam Vol 7 No 1 (2025): Balanca: Jurnal Ekonomi dan Bisnis Islam
Publisher : Institut Agama Islam Negeri Parepare

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35905/balanca.v7i1.13214

Abstract

This systematic literature review (SLR) investigates the optimization of sharia-compliant fintech to enhance financial inclusion in Indonesia, guided by Islamic economic principles. Analyzing 36 peer-reviewed articles from 2018 to 2024, the study employs a qualitative approach to explore trends, challenges, and opportunities. Findings reveal that sharia fintech, through innovations like peer-to-peer lending, crowdfunding, and e-wakaf, significantly improves access to financial services for unbanked populations and MSMEs. Key enablers include technological advancements, sharia compliance, and government support, while challenges involve regulatory ambiguity, low financial literacy, and public trust issues. The review underscores the importance of consumer preferences, literacy programs, and integration with sharia microfinance institutions in scaling adoption. Recommendations include robust regulatory frameworks, enhanced digital literacy initiatives, and collaborative ecosystems to ensure sustainable growth. This SLR contributes to the literature by synthesizing insights, identifying research gaps, and offering evidence-based strategies for policymakers and stakeholders to foster inclusive economic development in Indonesia’s digital era.
ESG-Based Islamic Finance: Opportunities and Challenges in Building the Sustainability of Islamic Economics Amid Issues of Usury and Corruption Said, Muhammad; Ahmad, Ahmad; SR, Naharuddin
Al-Infaq: Jurnal Ekonomi Islam Vol. 16 No. 2 (2025)
Publisher : Fakultas Agama Islam, Universitas Ibn Khaldun Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32832/alinfaq.v16i2.2328

Abstract

This study explores the opportunities and challenges of integrating Environmental, Social, and Governance (ESG) principles into Islamic finance to strengthen the sustainability of the Islamic economic system amid the issues of usury (riba) and corruption. Using a systematic literature review (SLR) approach covering studies from 2020 to 2025, the findings show that ESG is aligned with Maqasid al-Shariah and has the potential to reinforce non-exploitative Islamic financial instruments such as green sukuk, profit-sharing contracts, zakat, and productive waqf. Opportunities are evident in enhancing financial stability and social inclusion, as demonstrated by the global ESG sukuk market growth and the success of hybrid ESG-Shariah models in the UAE. However, challenges remain in the form of regulatory misalignment, high compliance costs, and corruption practices that reduce investor trust and increase risks of greenwashing. The study highlights strategies such as adopting the IFSB hybrid ESG-Shariah framework, leveraging blockchain for transparent fund tracking, harmonizing regulations, and strengthening the role of Shariah Supervisory Boards (SSB). Overall, this research contributes both theoretically and practically by offering a conceptual model and policy recommendations to foster a sustainable Islamic economy free from riba and corruption while advancing the Sustainable Development Goals (SDGs).
Settlement of Sharia Economic Disputes through the Al-Shulhu Approach: A Case Study of Default in Murabahah Contracts in Indonesia Muhammad Said; Islamul Haq; Zulfahmi AR
International Journal of Sharia and Law Vol. 2 No. 1 (2026)
Publisher : Qiyam Islamic Studies Center Foundation

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65211/ijsl.v2i1.9

Abstract

This study aims to examine the effectiveness of the al-shulhu approach in resolving Islamic economic disputes, particularly in cases of breach of murabahah contracts in Indonesia. Employing a qualitative approach with a library research design, this study collects data from academic journals, books, and regulations such as DSN-MUI fatwas through qualitative content analysis. Source selection was based on criteria of relevance to the topic, recency of publication (focusing on the 2020–2025 range). The findings indicate that al-shulhu, rooted in the principle of sulh in the Qur’an (Surah An-Nisa: 128), is an effective dispute resolution mechanism as it emphasizes justice (al-‘adl), honesty (as-sidq), and mutual consent (ridhā). This approach enables solutions such as financing restructuring or penalty reductions without violating sharia principles, while maintaining social harmony between Islamic banks and clients. However, the application of al-shulhu faces challenges, including the lack of a clear legal framework, inconsistent implementation across institutions, and a shortage of competent mediators with expertise in Islamic law. This study contributes to academic discourse by bridging classical Islamic legal theory with modern dispute resolution practices and provides practical recommendations for Islamic financial institutions and regulators, such as OJK and DSN-MUI, to integrate al-shulhu into the national legal system through clear regulations and mediator training. The study recommends further empirical research to enhance understanding of al-shulhu’s application in religious courts and Islamic financial institutions.
Enhancing Islamic financial inclusion in Indonesia: Innovative strategies for rural and eastern regions Muhammad Said; Arya Nirwansyah Dwi Putra; Muhammad Tahir; Selfiani Selfiani; Abdullah Habar Madi
Priviet Social Sciences Journal Vol. 5 No. 12 (2025): December 2025
Publisher : Privietlab

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55942/pssj.v5i12.941

Abstract

This study aims to enhance Islamic financial inclusion in rural and eastern regions of Indonesia through innovative strategies, focusing on challenges related to access, literacy, infrastructure, and public trust issues. Using a qualitative library-based approach, this study analyzes literature from indexed journals, reports from the Financial Services Authority (OJK), and government policies published between 2018 and 2025. Data collection involves systematic literature searches using keywords such as “Islamic financial inclusion” and “Islamic fintech.” Content analysis is employed to identify patterns, challenges, and formulate strategies, with source triangulation to ensure validity. Research Findings Islamic financial inclusion in Indonesia stands at only 12.88%, significantly lower than the national inclusion rate (75.02%), due to limited access in rural areas (68.49%), low Islamic financial literacy (39.11%), geographic barriers, inadequate infrastructure, and product mismatches. Innovative strategies include: (1) contextual financial products such as musyarakah-based financing, (2) infrastructure strengthening through Islamic rural banks (BPRS) and digitalization, (3) financial literacy education, and (4) community-based awareness campaigns. Islamic fintechs (e.g., Alami, Ammana) show potential to overcome geographic constraints, though they are hindered by limited Internet penetration (60%) and digital literacy. These innovative strategies offer practical guidance for stakeholders to boost Islamic financial inclusion through contextual products, digitalization, community-based education, and women’s empowerment via MSMEs, supporting poverty alleviation and inclusive economic growth.
Feminisme Pasca-Kolonial: Menafsirkan Ulang Teks Keagamaan untuk Keadilan Gender Global Ahmad Ahmad; Naharuddin SR; Muhammad Said; Minhajuddin Madi; Faisal Nur Shadiq Shabri
AL-MAIYYAH : Media Transformasi Gender dalam Paradigma Sosial Keagamaan Vol 18 No 2 (2025): AL-MAIYYAH
Publisher : Center for Gender and Child Studies, Institute for Research and Community Service, Institut Agama Islam Negeri Parepare.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35905/almaiyyah.v18i2.14946

Abstract

In the era of globalization, gender inequality continues to persist within religious traditions, often reinforced by patriarchal interpretations shaped by colonial legacies that hinder women’s rights and broader efforts toward global justice. This paper explores how postcolonial feminism can reinterpret religious texts to challenge these norms and promote equitable gender relations. Using a qualitative interpretive design within a descriptive-comparative framework, the study analyzes key texts from the Qur’an, the Bible, and the Vedas through contextual exegesis, etymological analysis, and dialogical engagement with participants from South Asia, Sub-Saharan Africa, and the Middle East. The findings reveal that traditional patriarchal readings stem from socio-historical contexts rather than inherent textual mandates, with colonial influences intensifying hierarchical structures. Postcolonial feminist reinterpretations uncover egalitarian potentials, including shared responsibility in Qur’anic verses, ontological equality in Biblical creation narratives, and gender balance in Vedic symbolism. The study extends postcolonial feminist theory by integrating decolonial hermeneutics into scriptural analysis, offering a framework for reimagining gender agency within sacred texts. Practical strategies, such as workshops that empower marginalized voices, demonstrate a shift toward inclusive discourse, providing pathways for policy reform and community transformation in pursuit of gender justice.
REVITALIZING SUMITRO DJOJOHADIKUSUMO'S ECONOMIC LEGACY: PATHWAYS TO INDONESIA'S ECONOMIC SELF-RELIANCE IN THE DIGITAL AND GLOBALIZATION ERA Muhammad Said; Syahriyah Semaun; Ahmad Dzul Ilmi Syarifuddin; Minhajuddin Madi; M. Rafly Al Farezy Arif
JURNAL PROFIT Vol 9, No 2 (2025): Economic And Financial Institutions
Publisher : Nurul Jadid University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33650/profit.v9i2.12783

Abstract

This study aims to develop a conceptual framework for revitalizing the economic thought of Prof. Dr. Sumitro Djojohadikusumo as a strategic roadmap toward Indonesia’s economic sovereignty in the digital and globalization era. Using a qualitative approach based on library research, this study systematically examines primary and secondary literature on Sumitro’s thought, development theory, and contemporary digital economic dynamics through content analysis. The findings introduce the concept of “Digital Economic Nationalism” as an adaptation of Sumitro’s development trilogy economic growth, national stability, and equitable development into the digital context, operationalized through the “Digital Gotong Royong Economy” model. This model integrates rural digital infrastructure, local economic platforms, digital cooperatives, sustainable financing, and the protection of national economic value. The results demonstrate that Sumitro’s intellectual legacy remains relevant and offers a theoretical and practical alternative to the dominant neoliberal model in the digital economy, while opening new avenues for nationally grounded digital political economy studies.
Decentralized Finance (DeFi) and Islamic Economic Law: A Maqāṣid al- Sharīʿah Analysis of Blockchain-Based Financial Ecosystems Ahmad Ahmad; Muhammad Said; Abdillah Abdillah; Abdulloh Munir; Andi Eki Dwi Wahyuni
Al-Ahkam: Jurnal Ilmu Syari’ah dan Hukum Vol. 11 No. 1 (2026): Al-Ahkam: Jurnal Ilmu Syari'ah dan Hukum
Publisher : Faculty of Sharia, Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/alahkam.v11i1.11955

Abstract

The emergence of Decentralized Finance (DeFi) represents an innovative shift in modern-day financial systems through which financial services can be delivered between peers using blockchain technology independent of centralized intermediaries. Although the concept of DeFi provides better access, transparency, and efficiency, its adherence to the laws of Islamic economics is a contentious issue among scholars in relation to problems associated with usury (riba), excessive uncertainty (gharar), and gambling (maysir). Adressing, this study seeks to assess the compatibility of DeFi mechanisms with Islamic finance through the lens of maqāṣid al-Shari'ah framework. Using a qualitative library research methodology, the present study discusses classical sources of Islamic jurisprudence, current fatwa, and academic literature related to major DeFi protocols from a maqāṣid perspective. The findings reveal that despite the use of many DeFi platforms with some features do not conform to Sharia principles, the blockchain technology that forms the basis of DeFi systems and the use of smart contracts offer potentials to be used in Sharia-based systems. This study shows that there is potential to reorganize the DeFi protocols based on Islamic principles like murābaḥah, mushārakah, and wakālah and at the same time promoting the main maqāṣid goals, particularly preservation of wealth, faith, and public interest. Furthermore, a conceptual framework that combines Sharia governance with blockchain technology and innovative finance has been suggested.
ZAKAT PROFESI BERBASIS KELUARGA SEBAGAI INSTRUMEN REDISTRIBUSI: STUDI KOMPARATIF FIQH MUAMALAH DAN HUKUM NAFAKAH UNTUK KETAHANAN EKONOMI RUMAH TANGGA Ahmad Ahmad; Minhajuddin Madi; Muhammad Said
Al-Hukmi : Jurnal Hukum Ekonomi Syariah dan Keluarga Islam Vol. 6 No. 2 (2025): Al-Hukmi : Jurnal Hukum Ekonomi Syari’ah dan Keluarga Islam
Publisher : Fakultas Syariah dan Ekonomi Islam, Universitas Ibrahimy

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35316/alhukmi.v6i2.8290

Abstract

This study examines the management of professional zakat (zakat profesi) in urban Muslim families in Situbondo, East Java, amid the rise of the gig economy. The research aims to analyze zakat calculation mechanisms, integration with family maintenance obligations (nafakah), impacts on household economic resilience, and propose a family-based redistribution model. Employing a qualitative approach with in-depth interviews and participatory observation of 15 urban families—primarily gig workers such as online motorcycle taxi drivers and freelancers—the study reveals that 80% calculate zakat at 2.5% of net monthly income per MUI Fatwa No. 3/2003, while 60% distribute it directly to eligible relatives to strengthen kinship ties. Nafakah is prioritized by 66.7% of respondents, with 60% viewing zakat as a long-term support strategy. Digital platforms enhance compliance (r = 0.930 correlation with literacy), and integrated management boosts financial resilience in 70% of households. The proposed three-stage model—post-nafakah calculation, hybrid institutional-direct distribution, and maqasid-based evaluation—offers a sharia-compliant, fintech-enabled framework adaptable to income volatility. Findings underscore the need for enhanced syariah literacy, digital infrastructure, and collaborative policies to optimize zakat’s role in urban family welfare.
Co-Authors Abdillah Abdillah Abdullah Habar Madi Abdulloh Munir Ahmad Ahmad Ahmad Ahmad Ahmad Dzul Ilmi Syarifuddin Andi Eki Dwi Wahyuni Arya Nirwansyah Dwi Putra Faisal Nur Shadiq Shabri Islamul Haq M. Rafly Al Farezy Arif Minhajuddin Madi Minhajuddin Madi Muhammad Nur Hidayat Muhammad Tahir Naharuddin SR Naharuddin SR Selfiani Selfiani SR, Naharuddin Syahriyah Semaun Zulfahmi AR