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Journal of Islamic Economic Laws
Published by Universitas Muhammadiyah Surakarta
ISSN : 26559609     EISSN : 26559617     DOI : -
Core Subject : Economy, Humanities, Art, Social,
Arts Humanities Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice
The Journal of Islamic Economic Laws is intended to be a media for disseminating results of researches and an exchange of Indonesian scientific work among academics, practitioners, regulators, and the public. The Journal of Islamic Economic Laws covers a variety of research approaches, namely quantitative, qualitative and mixed methods. The Journal of Islamic Economic Laws focuses on various themes, topics, and legal aspects in Islamic economics, including (but not limited to) the following topics: -Laws of civil proceedings -Inheritance law -Muamalah law -Sharia banking regulation -Marriage law -Insurance law and reinsurance -Regulation of zakat -Law guarantee -The law of Sharia financial institutions -Business law contract -Legal endowments -Laws of electronic transactions
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Articles 5 Documents
 1 
Search results for , issue "Vol 1, No 1: July 2018" : 5 Documents clear
Determinants of the Industrial Manufacturing Stock’s Holding Period Rima Islamiah
Journal of Islamic Economic Laws Vol 1, No 1: July 2018
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v1i1.6357

Abstract

This study aims to identify the effect of Market Value (MV), Return on Asset (ROA), Earning per Share (EPS) and Bid-Ask Spread (BAS) over the holding period of manufacturing companies listed in Jakarta Islamic Index (JII). The data used here is period between 2014-2016. This research is a quantitative research. The data used in this research are the outstandingnumber of shares, the volume of stock transactions, closing price, ROA, and EPS. The technique for data analysis which will be used in this research is panel data regression test using REM model. The results of this study show that: 1). Market value have a significant positive effect on the manufacturing company stock’s holding period, which is shown by the value of sig t 0,0075. 2). ROA has no significant effect on on the manufacturing company stock’s holding period, which is shown by the value of sig t 0.1269. 3). EPS did not significantly affect the holding period of the manufacturing company's shares which was shown by the sig t value 0.7358. 4). The variable of Bid-Ask Spread does not significantly affect the holding period of the manufacturing company's stock which is shown by the value of sig t 0.1031. 5). MV, ROA, EPS, BAS according to test of model existence / F test is the existing model used with the value of F statistics 0.000397. 5). The value of Adjusted R2 of 19.85% indicates that variations in the variable of Holding Period can be explained by independent variables, and the remaining 80.65% of the variable of Holding Period are explained by other variables outside the research model.
The Effect of Bank’s Internal Factors Towards Micro Financing in Islamic Commercial Bank at Indonesia Ulfa Rizki Utami
Journal of Islamic Economic Laws Vol 1, No 1: July 2018
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v1i1.6327

Abstract

The main driver of Indonesian economic wheel is the small and medium-sized enterprises (SME). This SME plays significant role as well in providing employment opportunity while in the same time adding numbers of business units that support the household income from the business. One of the obstacles faced by SME is the capital and financing constraint, especially for the financing from the bank. Without financing, SME will lose its capability to grow and develop since the main support for SME is the capital and financing itself. This research aims to know the internal factors affecting the third party fund, inflation and the rate of return in the period of 2012-2014 in Islamic commercial banks at Indonesia. The research will carry out the OLS procedure since this technique allows us to know clearly the factors affecting financing in the SME. Our research shows that third party fund significantly affect SME financing with positive sign. Meanwhile, the rate of return is observed to affect negatively to the financing. Inflation also has significant and positive effect with bigger coefficient compared to others in financing for SME.
Halal Label On Food Products By Mui (Indonesian Ulama Council) And Students Purchasing Decision Of Faculty Of Business And Economic Universitas Muhammadiyah Surakarta Rafi Siregar; Azhar Alam
Journal of Islamic Economic Laws Vol 1, No 1: July 2018
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v1i1.6163

Abstract

The boundary between h{alal and h{aram  in human life is explained clearly by Quran and Sunnah as a form of Allah guardianship. MUI established LPOM as an institution to issue halal certificates on food products. Food products that have been certified will be labeled by MUI logo. Universitas Muhammadiyah Surakarta instills religious values to students and expects them to choose food products with consideration to h{alal and h{aram  aspects. This study aims to find out how much understanding of Faculty of Economics Business Students on halal food products and how much the influence of MUI Labelization on their decision purchase. The research used field research method and qualitative data. This study showed that 69.3% of students sample who generally have understood halal products and halal label of MUI have a major influence in determining their purchasing to select halal products. Faculty of Economiccs Business students who have very good understanding on Halal Products in most cases reached 81.63% of total population.
Ownership Risk in the Perspective of Islamic Law of Contract: Concept and Application on Modern Practices Wan Ahmad Syafiq Wan Ahmad Ikram
Journal of Islamic Economic Laws Vol 1, No 1: July 2018
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v1i1.6342

Abstract

Daman Milkiyyah or ownership risk is an important element in Islamic Law of Contract as there are many implications arising from it. This concept also highlights one of the unique features of Islamic Law of Contract which promotes justice in transactions. The lack of a proper understanding of this concept may lead people to breaching Shariah principles as well as dealing with non-Shariah compliant transactions. It is the purpose of this paper to shed light on the fundamental concepts of ownership risk and its application on some of modern financial instruments. This work will write down the scattered though of ownership risk which has been discussed by Islamic classical scholars and continued by matching this concept to the existing modern financial instruments. In the end of the paper, we suggest further enhancement in the financial industry to adhere more towards shariah principle.
An Enquiry on Fish Selling Culture at South Sumatera: Investigation from Islamic Perspective Reno Juwarno
Journal of Islamic Economic Laws Vol 1, No 1: July 2018
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v1i1.6205

Abstract

The diversity in Indonesia makes each region having their model of live, behavior and the mode of transactions. South Sumatera is one of those regions that have been practicing a way of fish sale which is different from others. Fish is sold directly from a pit underneath water flow called lebung through an auction model. This different model of regular sale and auction evokes curiosity as to whether it conforms to shariah requirements or not. The purpose of this research is to investigate the habitual transaction of fish sale in this region. This paper will focus on the practice of people at Seri Kembang I village about the sale by carrying out qualitative approach in a field research involving observation, interview and documentation as the means for collecting data. All data collected will be analyzed through evaluation process by comparing the practice over the actual standard. We conclude that such practice is deemed to be non-permissible since it does not pass some of the standards, especially the garar element. We also provide some suggestion as the alternative of this habitual practice.

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