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al-Uqud : Journal of Islamic Economics
Published by Universitas Negeri Surabaya
ISSN : 25490850     EISSN : 25483544     DOI : http://dx.doi.org/10.26740/al-uqud
Core Subject : Economy,
Economics, Econometrics & Finance
al-Uqûd : Journal of Islamic Economics published by the Islamic Economic Studies Department of Economics Faculty of Economics, Universitas Negeri Surabaya in cooperation with the Forum of Economic and Business Lecturer Islam (FORDEBI). al-Uqûd published twice a year, in January and July. The journal will focus on providing quality research in the areas of Islamic economics, banking and finance. The goal of the journal is to cover topics that are paramount in modern Islamic economics and finance. The language used in the form of Indonesian and English. Editors invite research lecturers, the reviewer, practitioners, industry, and observers to contribute to this journal.
Arjuna Subject : -
Articles 210 Documents
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Utilization of technology as a strategic tool for developing BPRS in North Sumatra in the digital era Yanti, Tri Auri; Sugianto, Sugianto; Ramadhan, Muhammad; Yafiz, Muhammad
al-Uqud : Journal of Islamic Economics Vol. 9 No. 1 (2025): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/al-uqud.v9n1.p110-127

Abstract

This study examines the use of technology as a development strategy for Islamic Rural Banks (BPRS) in North Sumatra in the context of the digital era. Employing a qualitative approach, it explores the adoption of digital tools—including mobile banking, management information systems, and digital payment platforms—by six BPRS operating in the region. The findings reveal that while several BPRS have initiated digital transformation through the implementation of mobile banking applications, digital risk management systems, and integration with Islamic fintech, the extent of adoption varies significantly, largely influenced by each bank’s financial capacity and strategic orientation. Other institutions remain in the early stages of digital development. Despite these initial efforts, major challenges persist, including inadequate technological infrastructure, limited capital, and a shortage of skilled human resources. Furthermore, collaboration with fintech companies and the application of digital marketing strategies remain underutilized. This study underscores the need to strengthen technological infrastructure, enhance capital capacity, and invest in human resource development to improve the competitiveness of BPRS in an increasingly competitive Islamic finance landscape. The findings offer practical insights for BPRS management in formulating technology-driven development strategies and promoting financial literacy within North Sumatra's communities.
Managing customer service through artificial intelligence-driven chatbot systems in Islamic Banking institutions Wahyuni, Eka Sri; Yuningsih, Ayu; Arisandy, Yosy
al-Uqud : Journal of Islamic Economics Vol. 9 No. 2 (2025): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/al-uqud.v9n2.p143-151

Abstract

This study examines the implementation of chatbots in Bank Syariah Indonesia (BSI) to enhance customer service in the Islamic banking sector. This study used a literature review in collecting and analyzing the secondary data in the form of papers downloaded from Google Scholar, Scispace, DOAJ, and Scopus websites. There were 26 papers gathered as samples of this study from 2015-2024. The data were analyzed through systematic data reduction, presentation, and conclusion-drawing. The findings show that deploying chatbots can significantly improve service delivery by reducing operational workloads through quick replies to repetitive customer inquiries. Chatbots serve as an innovative solution that handles routine questions swiftly, thereby increasing efficiency and allowing staff to focus on more complex tasks. Their continuous, round-the-clock availability further enhances customer engagement and experience by providing immediate assistance at any time, eliminating extended waiting times for information. Additionally, the chatbot’s ability to interpret customer interactions provides valuable insights into customer behavior and preferences. Such insights enable BSI to better understand about customer needs and identify usage patterns of Sharia-compliant banking products. However, the implementation of chatbots in Islamic banking also requires careful consideration of Islamic ethics. The development of AI must integrate maqasid al-shariah values such as justice, transparency, and data protection to ensure alignment between technological efficiency and Shariah principles.
Psychosocial strain and default behavior in Islamic fintech: An urban–rural analysis using general strain theory Yudha, Ana Toni Roby Candra; Haryono, Slamet; Ardiansyah, Misnen
al-Uqud : Journal of Islamic Economics Vol. 9 No. 2 (2025): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/al-uqud.v9n2.p162-180

Abstract

This study examines the psychosocial determinants of loan default among Millennial and Gen Z users of Islamic fintech microfinance in Indonesia, applying General Strain Theory (GST) to compare behavioral dynamics across urban and rural contexts. Data were collected from 307 respondents and analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS). The results reveal notable contextual differences: in urban settings, default intention is significantly influenced by social difficulties, feelings of inferiority, life dissatisfaction, loneliness, and weakened moral norms. In contrast, loneliness emerges as the only significant predictor in rural areas. Economic pressure did not serve as a major driver, emphasizing the greater influence of psychosocial strain over financial factors. These findings suggest that fintech providers should refine credit risk assessments by incorporating psychological and social indicators. Interventions such as financial literacy programs, moral reinforcement, and community-based support systems may be particularly effective, especially in rural areas where social isolation is prevalent. This study offers a novel application of GST in the Islamic fintech domain, providing theoretical advancement and practical implications for more ethical and socially inclusive fintech development.
Strategy for increasing the market share of Islamic Banks in Indonesia through Third-party fundraising and financing Rahima Kumala; Nurhayati Nurhayati; Muhammad Yafiz
al-Uqud : Journal of Islamic Economics Vol. 9 No. 2 (2025): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/al-uqud.v9n2.p181-199

Abstract

This research aims to formulate strategies to increase the market share of Islamic banks in Indonesia through the optimization of Third Party Funds (DPK) and financing, which are the main internal factors supporting the growth of Islamic banking. Based on the background, the low market share of Islamic banks is caused by several main issues, such as limited technology, low product innovation, lack of Islamic financial literacy, and suboptimal data protection. This research uses the Analytic Network Process (ANP) method, which involves expert respondents from regulators, academics, practitioners, and the community. Data collection was conducted through in-depth interviews, questionnaires, and analysis using Super Decision software. The research results indicate that priority solutions to increase market share include technological updates, enhanced literacy through education and collaboration between institutions, as well as synergy among stakeholders. The main strategies proposed include strengthening synergy and collaboration, enhancing technological innovation, and expanding sharia financial literacy. This research makes a significant contribution in identifying problems, solutions, and relevant strategies to support the development of Islamic banking in Indonesia. The results are expected to serve as a reference for regulators, Islamic banking, academics, and the community in promoting the sustainable growth of the Islamic finance industry.
The role of augmented reality in halal beauty shopping experience Mardhiyah, Dien; Futuwwah, Ali Imaduddin; Susilowati, Fitriah Dwi; Osman, Syuhaily; Gozali, Nidia Artanti; Putri, Nadia Ramadhani Nugroho
al-Uqud : Journal of Islamic Economics Vol. 9 No. 2 (2025): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/al-uqud.v9n2.p143-161

Abstract

Augmented Reality (AR) is rapidly evolving and being integrated into various business sectors, including the halal cosmetics industry. Additionally, AR helps prevent contamination from non-halal ingredients and reduces the spread of diseases associated with shared testers. Despite these advantages, consumer adoption of AR in online cosmetic selection remains low. Many shoppers still cannot use AR, despite its vividness, interactivity, and customizable features, which can significantly enhance product exploration and foster a positive perception of the technology. This study investigates the key factors influencing consumers' intentions to use AR when purchasing halal cosmetics, employing the SOR theory as a framework. Through a quantitative approach and SEM-PLS analysis, the findings reveal that AR attributes play a crucial role in creating a more immersive and compelling halal shopping experience. These insights offer valuable guidance for businesses seeking to develop AR-driven marketing strategies—an approach that remains underutilized in the halal cosmetics industry. By leveraging AR technology, companies can bridge the gap between online and offline shopping, enhance consumer confidence, and drive greater engagement in the halal beauty market.
The Role of Sharia Skepticism and Motivation in Gold-Backed Cryptocurrency Adoption Among Muslim Investors Hasyim, Fuad; Ryandono, Muhammad Nafik Hadi; Musthofa, Wakhid
al-Uqud : Journal of Islamic Economics Vol. 10 No. 1 (2026): January (in Progres)
Publisher : Universitas Negeri Surabaya

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Abstract

This study investigates the factors influencing the adoption of gold-backed cryptocurrencies (GBC) among Muslim investors in Indonesia, addressing the gap in understanding the interplay of psychological, social, and religious factors. While GBCs align with Islamic principles by avoiding gharar (uncertainty), maisir (speculation), and riba (interest), adoption remains hindered by sharia skepticism. Using a quantitative cross-sectional design with data from 357 respondents analyzed through Partial Least Squares Structural Equation Modeling (PLS-SEM), the findings highlight that attitudes, intrinsic and extrinsic motivations, and perceived sharia compliance significantly drive behavioral intention. However, sharia skepticism negatively moderates the attitude-intention relationship, presenting a substantial barrier. The study emphasizes the need for collaboration among regulators, fintech platforms, and religious authorities to address skepticism and foster trust through standardized governance. For businesses in Asia, these insights underline the importance of culturally aligned strategies, such as educational campaigns and partnerships with religious leaders, to enhance adoption in Islamic fintech markets.
A Scope of Islamic Business Economics Fiqh: Analysis of Research Trends Through Bibliometrics and Systematic Literature Review Mayang Sari, Junia
al-Uqud : Journal of Islamic Economics Vol. 10 No. 1 (2026): January (in Progres)
Publisher : Universitas Negeri Surabaya

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Abstract

The decline in Islamic economic jurisprudence has led to broader discussions on the scope of Islamic business economics jurisprudence. Addressing this issue can build a scientific framework from several perspectives, as Muslim scholars have made many developments in Islamic business economics jurisprudence within the scope of analysis. Discussion of the scope of Islamic business economics jurisprudence. However, literature on Islamic business economics jurisprudence specifically is still very limited in its focus on this area. Other studies have focused on specific objects within Islamic business economics jurisprudence. This study uses bibliometric methods and a systematic literature review (SLR) to obtain a broader and deeper picture of the development of Islamic business economics jurisprudence studies and research trends in raising this study. In this case, the literature collected came from the Scopus database using Publish or Perish software and a Scopus account. The results show that the trend of Islamic business economics studies has increased, indicating that for about a decade, the topic of Islamic business economics research has been a favorite among researchers in the field of economics. The results of mapping with Vosviewer and a review of selected journals show that the future scope of Islamic economics studies is based on publication trends in the development of Islamic financial systems, factors in economics, the development of sharia insurance, and contemporary Islamic business economics practices.
Restructuring and Performance: Efficiency Dynamics of Islamic Banks Before and After Spin-offs, Mergers, and Conversions Hakim, Faqih Wildan; Rabaya, Abdullah Jihad; Ameraldo, Fedi; Rizki, Marsi Fella
al-Uqud : Journal of Islamic Economics Vol. 10 No. 1 (2026): January (in Progres)
Publisher : Universitas Negeri Surabaya

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Abstract

The purpose of this research is to analyze the efficiency dynamics of Islamic banks following their separation, merger, and conversion. The study focuses specifically on changes in performance that occurred before and after these corporate restructuring procedures. Data Envelopment Analysis (DEA) and Hahslm Reflectivity Dynamics (HEFDYN) are employed in this work, which suggests that different restructuring models exhibit diverse patterns of efficiency. Generally, spin-off banks tend to experience a decline in efficiency after their operations are separated from those of the parent bank. Merger banks exhibit varied efficiency patterns, and converted banks display varying efficiency levels during the conversion process. The results of this study show the importance of policymakers and practitioners thoroughly evaluating the trade-offs between regulatory compliance and efficiency outcomes. This study adds to the discussions on the evolution of Islamic banking by providing empirical data on efficiency changes under various restructuring scenarios.
Integrating Pancasila and Islamic Economics: Formulating an Indonesian Hybrid Economic Paradigm through the OPOP Model Sifwa
al-Uqud : Journal of Islamic Economics Vol. 10 No. 1 (2026): January (in Progres)
Publisher : Universitas Negeri Surabaya

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Abstract

Indonesia’s development trajectory has long been constrained by a structural dichotomy between capitalism and socialism, limiting opportunities to construct a value-based economic framework grounded in the nation’s philosophical and religious heritage. This condition has contributed to widening social inequality and recurring economic injustice, underscoring the urgency of an alternative paradigm that integrates ethical foundations and local wisdom. This study critically examines the normative compatibility between the Pancasila Economic System and Islamic Economics, proposing an integrative model as an Indonesian hybrid economic paradigm. Using a qualitative library-based method and comparative analysis of academic literature, constitutional documents, and empirical studies, the research identifies strong convergences in distributive justice, communal solidarity, democratic economic governance, and the protective role of the state. At the empirical level, the One Pesantren One Product (OPOP) program in East Java is analyzed as a concrete expression of the synergy between Pancasila and Islamic values through pesantren-based entrepreneurship, social capital enhancement, and community-driven economic development. Theoretically, the study advances an integrative framework that enriches global discussions on value-based and faith-informed development models. Practically, it offers policy insights for strengthening state support, enhancing pesantren institutional capacity, and reducing the dominance of capitalist market forces in national development. The novelty of this research lies in its comprehensive approach that links philosophical principles, cultural traditions, and empirical evidence into a coherent model for inclusive and justice-oriented economic development in Indonesia.
Reconstructing Maqasid al-Shariah fi Hifdz al-Mal in Responding to the Doom Spending Phenomenon among Generation Z and Its Implications for Family Economic Resilience Ubaidillah
al-Uqud : Journal of Islamic Economics Vol. 10 No. 1 (2026): January (in Progres)
Publisher : Universitas Negeri Surabaya

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Abstract

The rise of doom spending among Generation Z has become a significant concern, particularly in the context of family economic resilience. This study aims to reconstruct the concept of Maqasid al-Shariah fi Hifdz al-Mal (protection of wealth) to address the impulsive and emotion-driven consumption behaviors prevalent among young couples in the digital economy era. Adopting a qualitative approach with a descriptive-analytical design, the research integrates insights from Islamic ethics, psychological coping theory, and contemporary consumption studies. The findings indicate that doom spending undermines family financial stability, increases emotional stress, and conflicts with Islamic principles of moderation (wasatiyyah), contentment (qana’ah), and avoidance of wastefulness (tabdzir). The study emphasizes strategies for fostering family economic resilience, including digital financial literacy, open financial communication between spouses, integration of Islamic consumption values, productive use of technology, and community-based financial education. By applying these strategies, Generation Z couples can achieve balanced financial management, strengthen household resilience, and align their consumption behaviors with both ethical and spiritual principles. This research contributes to the discourse on integrating Islamic value-based approaches in contemporary financial practices, providing a framework for sustainable and morally responsible household economic management. Keywords: Doom Spending, Generation Z, Maqasid al-Shariah, Hifdz al-Mal, Family Economic Resilience.

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