cover
Contact Name
Devid Frastiawan Amir Sup
Contact Email
aliktisab@unida.gontor.ac.id
Phone
+6285234190637
Journal Mail Official
aliktisab@unida.gontor.ac.id
Editorial Address
Jl. Raya Siman Ponorogo, Telp. (0352) 483762, Fax. (0352) 488182, Ponorogo, Jawa Timur, Indonesia
Location
Kab. ponorogo,
Jawa timur
INDONESIA
Al-Iktisab: Journal of Islamic Economic Law
ISSN : 25804251     EISSN : 2615661X     DOI : -
Core Subject : Economy, Social,
Al-Iktisab: Journal of Islamic Economic law is a peer reviewed journal published by University of Darussalam (UNIDA) Gontor. The journal is semi-annual journal issued on May and November. The aims of the journal is to explore and develop economics related to Islamic laws that cover issues both from Indonesia and overseas. Moreover, the editor accepts final manuscripts that have not been sent to other journal for publication. Those interested in subscribing to the Journal, advertising in the Journal, submitting manuscripts to the Journal, or otherwise communicating with the Journal, should contact at aliktisab@unida.gontor.ac.id.
Articles 153 Documents
The Concept of Money According to the Thought of Ibn Taymiyah and Imam Ghazali and its Implementation in the Economic Field Firdaus, Muhammad Irkham; Pradhana, Theo Aditya; Nasution, Saiful
AL- IKTISAB Journal of Islamic Economic Law Vol 4 No 2 (2020)
Publisher : University of Darusssalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/al-iktisab.v4i2.5394

Abstract

The current concept of paper money has a negative impact on people's lives. Many Muslim leaders formulated the concept of money that is more like and not harmful, including Ibn Taymiyah and Imam Ghazali. He has scientific works that discuss the concept of money. So in this paper will discuss the concepts of paper money according to Ibn Taymiyah and Imam Ghazali. This research used library method. The results, comparison of Ibn Taymiyah and Imam Ghazali’s thought regarding a good and right money system, which is in accordance with Islamic principles and benefits all parties is as follows, money as a medium of exchange, money has no utility function, money is not a commodity, money as a measure of the value of goods, money must have a fixed value, and money must flow and circulate not to be hoarded.
Applications of Savings and Deposit Contracts in Islamic Financial Institutions Ghozali, Mohammad; Mafaza, Syofi Aruni
AL- IKTISAB Journal of Islamic Economic Law Vol 4 No 2 (2020)
Publisher : University of Darusssalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/al-iktisab.v4i2.5395

Abstract

Wadi’ah is one of the forms of contract in Islamic financial institutions. Wadi’ah is the storage of goods accompanied by an agreement between the owner of the property or goods and a trusted party to take care of the property or goods. In principle, wadi’ah is to help the custodian of property or goods and the party in charge of the property or goods is as an assistant. Therefore, this wadi’ah contract is trust. This research study used a descriptive qualitative method with previous literature. The results of this study according to the type of wadi'ah are divided into two: namely the first is wadi'ah yad amanah (trust), where a person who receives a deposit is not allowed to use the goods or assets until it is taken back by the person who owns the property. The second type is wadi'ah yad dhamanah (guaranteed savings), which means that assets or goods can be used by the recipient of the deposit as long as they have not been returned to the depositor. However, if the profit is obtained from the utilization, then all of them are entitled to the recipient of the deposit. The status of the contract change from wadi'ah yad amanah to wadi'ah yad dhamanah can occur if: first, the assets in the deposit have been mixe. Second, recipients use the assets deposited. And third, recipients charge a service fee from the depositor.
SWOT Analysis of Marketing Strategies on Services in Islamic Financial Institutions (Case Study at KJKS (Sharia Financial Services Cooperative) BMT La Tansa Gontor Ponorogo) Fahmi, Annas Syams Rizal; Muqorobin, Ahmad
AL- IKTISAB Journal of Islamic Economic Law Vol 4 No 2 (2020)
Publisher : University of Darusssalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/al-iktisab.v4i2.5396

Abstract

Service is a form of marketing strategy in a company. In this case, many conventional financial institutions and Islamic financial institutions are competing in improving the quality of service to be provided to customers and potential customers. BMT La Tansa Gontor is one of the sharia financial institutions under the Sharia Financial Services Cooperative (KJKS) that try to give a solution on community's economic difficulties with the values of Islam by publishing murabahah financing products. In this study, the author will discuss how the marketing strategies that have been carried out by BMT La Tansa Gontor in terms of service. This research will use the SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis to find the extent of the services provided by BMT La Tansa and will provide conclusions about what BMT La Tansa should do after this research is complete. Marketing strategy that have been carried out by BMT La Tansa Gontor for customers is by giving services that have Gontor characteristics and characteristics namely, friendly service, comfortable communication based on kinship, the mechanism process in product purchasing procedures that is very comfortable to make customers loyal to BMT La Tansa Gontor, the staff's persuasive method apart from being young but also with a good appearance is its own attraction. The results of analysis and observation using SWOT, the researcher concluded that BMT La Tansa Gontor has some weaknesses, one of the factors were the lack of structured regeneration so that the pattern of value transformation and learning from seniors to juniors experienced difficulties and researchers could provide input that the strategy marketing that must be done by the BMT La Tansa Gontor in service to customers is to use SO (Strength-Oppoturnity) combined with ST (Strength-Threath) which is to take advantage of opportunities with existing strengths to be able to face threats from outside parties.
Investment Cooperation Agreement on Equity Crowdfunding Platform from the Perspective of Sharia Economic Law Firdaus, Muhammad Irkham; Aziz, Muhammad Abdul; Sukoco, Daud; Alafianta, Novan Fatchu
AL- IKTISAB Journal of Islamic Economic Law Vol 5 No 1 (2021)
Publisher : University of Darusssalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/al-iktisab.v5i1.5626

Abstract

Equity crowdfunding is a new innovation in finance, which is an external product of financial technology, by combining financial systems with information technology. Equity crowdfunding is a combination of investment business model with information technology, where meetings between investors and fund managers are conducted online through websites on this platform. Crowdfunding equity platform is now growing rapidly and is very popular among the community, due to some of the facilities offered by the platform organizers for service users. Therefore, further research needs to be done on this business practice, which covers all aspects of the mechanisms and systems on this platform. The purpose of this study is to determine the mechanisms and systems of all aspects of the investment cooperation agreement model applied on the equity crowdfunding platform. The intended aspects include the mechanism of agreement (contract), profit sharing system, user protection, stock trading mechanism, dispute resolution, risk management, and so on. Furthermore, it aims to determine its compliance with Islamic law and the positive laws that apply in Indonesia. Investment agreements on equity crowdfunding platform can be implemented in mudharabah agreement, meanwhile, the agreement between the crowdfunding service provider and the crowdfunding user can use the wakalah bil ujrah contract. The percentage to revenue ratio can use the profit and loss distribution system and the revenue distribution system according to the agreement. Equity crowdfunding platform should really pay attention to consumer protection in accordance with the provisions in accordance with POJK and hifdzul maal theory. In addition, it must carry out risk management to minimize the occurrence of losses for some parties, and create a dispute resolution mechanism in accordance with Islamic law and economic law.
Strategy for Improving the Quality of Waqf Institutions Through Good Waqf Governance Syamsuri, Syamsuri; Lahuri, Setiawan bin; Bakri, Wahyudi; Fatoni, Anwar; Wibowo, Hendri Setyo
AL- IKTISAB Journal of Islamic Economic Law Vol 5 No 1 (2021)
Publisher : University of Darusssalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/al-iktisab.v5i1.6200

Abstract

The sustainability of the benefits of waqf is possible because of the implementation of productive waqf can support various social and religious activities. Even so, good and innovative management is still needed in order to achieve professional waqf management, namely good waqf governance. This paper aims to examine the concept of good governance, the potential of waqf in Indonesia, and the institutional problems and solutions of waqf in Indonesia. This is a library research using a qualitative method and descriptive analytic study. Data were collected using the documentary method, which comes from books, journals, internet, and papers. The results of this study indicate that the donated land assets in Indonesia are 52.245,41 hectares spread over 385.898 locations. Most of the use of the waqf land is still in the form of direct waqf (consumptive), dominated by the construction of mosques by 44,26% and musholla (a prayer room) by 28,43%. Meanwhile, the potential for cash waqf in Indonesia reaches 3 trillion per year with an estimated number of generous Muslims of 10 million and an average monthly income of IDR 500.000 to IDR 10.000.000. Regarding problems in the development of waqf related to waqf management, including the management that is not optimal, even many are mismanaged which results in many waqf assets being neglected, some even missing. The solution lies in the existence of nadzir and a solid team work to maximize the expected results of waqf where waqf management requires good governance which can be used as a benchmark for whether performance in the organization is based on five principles, namely transparency, accountability, responsibility, independence and fairness or not.
Waqf in the Perspective of Waqf Rules in Indonesia Hartanto, Selamet; Retnowati, May Shinta; Sup, Devid Frastiawan Amir
AL- IKTISAB Journal of Islamic Economic Law Vol 5 No 1 (2021)
Publisher : University of Darusssalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/al-iktisab.v5i1.6203

Abstract

For Muslims in Indonesia, the basic concept of waqf in Islam is very well understood, and more than that, if examined further, there will be many waqf assets in Indonesia. In the perspective of a country, it is necessary to implement regulations, including Waqf Law (Law), Government Regulation (PP) on Waqf, Regulation of the Indonesian Waqf Board (BWI), and Regulation of the Minister of Religion (PMA). This study aims to explain waqf from the perspective of waqf rules in Indonesia. This research uses qualitative-descriptive-literature methods. The conclusion is that the existing waqf rules that apply in Indonesia aim to maintain the existence of waqf to always be in accordance with the basic concept of waqf in Islam. In addition, this rule also serves as the basis for the legal protection of legality of waqf in Indonesia.
Application for Wakalah bi al-Ujrah Contract in Various Banks, Insurance, and Syariah Mutual Funds Indonesia According to Wahbah Zuhaili Ghozali, Mohammad; Jamilah, Adinda Muftiviany Nur; Jamal, Mulyono; Hidayat, Iman Nur
AL- IKTISAB Journal of Islamic Economic Law Vol 5 No 1 (2021)
Publisher : University of Darusssalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/al-iktisab.v5i1.6204

Abstract

Wakalah is one of the most frequently used transactions in insurance, mutual funds, and especially Islamic banking. Insurance is one of the economic activities that we often hear about, many of these activities, such as health insurance, education, and etc. This paper uses a literature analysis method by using journals as its primary source. According to Wahbah Zuhaili there is insurance that is allowed to do and there is insurance that is illegal to do. Basically, the purpose of the insurance is having a mutual help. So if the participant does not use the insurance premium they have been paid, this premium will be allocated to others. Until there is a help-seeking action based on sincerity. However, it will be illegal if the purpose of this insurance activity is based solely on profit. Thus, it will create a synergy that will eliminate the benefits. So this insurance being an illegal activity. which is containing five elements, there are riba, gharar, gaban, qimar, and jahalah, which can damage human benefits and harms. Then insurance activity is illegal.
Legal Protection for Nadzir (Waqf Recipient) from Unregistered Waqf Land Navisa, Fitria Dewi; Fatmawati, Fitri
AL- IKTISAB Journal of Islamic Economic Law Vol 5 No 2 (2021)
Publisher : University of Darusssalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/al-iktisab.v5i2.6249

Abstract

Waqf in Indonesia that is carried out by the community is often not by the existing provisions and elements. As a result, there are many problems in waqf. One of the problems that can arise is the existence of waqf land that is not registered. This causes the recipient of the waqf, nadzir, as the manager of the donated land, to often get involved in disputes over the land. For this reason, legal protection and efforts are needed for nadzir from unregistered waqf land. In finding answers to these problems, researchers use certain legal theories as a basis for analyzing them. The method used in this research is normative legal research (normative juridical) and this research is descriptive analysis. The result is, the implementation of waqf in Indonesia is based on Law No. 5 of 1960 concerning Basic Agrarian Regulations (UUPA), Government Regulation No. 28 of 1977 concerning Freehold Land Waqf, Government Regulation No. 24 of 1977 concerning Land Registration, Law No. 41 of 2004 concerning Waqf. These provisions are regulated to ensure certainty and protection for the implementation of waqf. Legal protection of the waqf land is very important considering that many parties want to control the donated land because the land is considered to have high economic value and is a very basic human need. For this reason, in obtaining legal strength and certainty, the waqf land must be registered so that it is legally registered as waqf property by the state. The donated land must obtain a waqf pledge deed which is then made a waqf certificate to ensure legal certainty. If the donated land does not have a waqf certificate, then it does not have legal force.
A Historical Review of the Development of the Islamic Banking System (An Analytical Study) Alafianta, Novan Fatchu; Aziz, Muhammad Abdul; Sahputra, Jaya
AL- IKTISAB Journal of Islamic Economic Law Vol 5 No 2 (2021)
Publisher : University of Darusssalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/al-iktisab.v5i2.6799

Abstract

This paper tries to investigate the historical development of Islamic banking in the world. The formation of Islamic banking was inspired by the incompatibility between conventional banks and Islamic teachings based on the Qur'an and al-Hadith. Islamic economists are trying to replace and improve the traditional system of banking that has developed rapidly with the Islamic banking system. The establishment of Mit Ghamr marked the emergence of Islamic banking. Since then, many Islamic banks have been established and have proliferated. The primary purpose of this study is to analyze and determine the historical development of the Islamic banking system in various countries. Thus, this research can provide further information for Muslim economic actors as a guide in carrying out economic activities, especially those related to banking. This study using the historical analysis method and at the end of this paper, confirm that the Islamic banking system was preceded by applying a profit-sharing approach to avoid interest in banking. The development of Islamic banks cannot be separated from the efforts made by the Organization of the Islamic Conference (OIC), which since 1970 has issued many recommendations and encouraged its member countries to improve the people's economy in their respective countries. Then, Islamic banks developed in various countries, including Pakistan, Egypt, Iran, Cyprus, Kuwait, Bahrain, United Arab Emirates, Malaysia, Turkey, and Indonesia.
Effectiveness of Complete Systematic Land Registration (PTSL) Against Waqf Land Certification at Magelang Regency Dakum, Dakum; Nurwati, Nurwati; Firdaus, Muhammad Irkham
AL- IKTISAB Journal of Islamic Economic Law Vol 5 No 2 (2021)
Publisher : University of Darusssalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/al-iktisab.v5i2.6817

Abstract

The government's policy on Complete Systematic Land Registration (PTSL) is a policy initiated by the Ministry of Agrarian Affairs of the Republic of Indonesia in 2017, then further refined in 2018 as it still has problems in its implementation. The policy is expected to expedite the existing land certification process in Indonesia, including waqf land certification. However, this policy should be tested to measure the level of effectiveness against the facilities and acceleration of the certification process, especially the waqf land certification at Magelang Regency. The purpose of this study is to analyze the effectiveness of government policies on PTSL towards accelerating the certification of waqf land at Magelang Regency. Research methods are field research and qualitative approach by checking interview results, PTSL related regulations, regulations related to registration of waqf land certification, scientific journals related to soil certification, etc. The results of this study show that the implementation of government policies on PTSL towards accelerating the certification of waqf land is not optimally implemented in Magelang Regency. This can be seen from the percentage of waqf land certification levels at Magelang Regency still low, despite experiencing a decline after the birth of government policy on PTSL.