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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 7 Documents
 1 
Search results for , issue "Vol 5, No 1: January 2022" : 7 Documents clear
The Effect Covid-19 and Sectoral Financing on Islamic Bank Profitability in Indonesia Mohammad Zen Nasrudin Fajri; Adamu Abubakar Muhammad; Khoirul Umam; Lila Prisilia Putri; Mohammad Ali Ramadhan
Journal of Islamic Economic Laws Vol 5, No 1: January 2022
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v5i1.17181

Abstract

COVID-19 pandemic has created a new economic crisis worldwide. Islamic Bank which was reportedly resilient against the financial crisis is expected to be stable in this period. Apart from that, Islamic Bank has channeled financing fund to various business sectors with different portions leading to a question whether they have different impact on Bank. This paper aims to discover the impact of COVID-19 pandemic and financing to business sectors on Islamic Bank profitability. An ARDL approach is employed for analysis. The result of the study shows that COVID-19 pandemic has a negative relationship with Islamic Bank profitability in the long-run. Furthermore, financing to transportation, warehousing and communication sectors is associated with higher profitability in the short-run. On the other hand, financing to wholesale and retail trade sectors hurt Islamic Bank profitability. Based on this result, it is suggested that Government impose some measures in stabilizing Islamic Bank’s performance during COVID-19 pandemic. In addition, Islamic Banks are expected to make adjustment on financing to business sectors ratio accordingly in order to maintain the profitability of Islamic Bank.
The Impact of Halal Label in Halal Food Buying Decisions Afifah Nur Millatina; Fifi Hakimi; Risanda Alirastra Budiantoro; Muhammad Rizky Arifandi
Journal of Islamic Economic Laws Vol 5, No 1: January 2022
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v5i1.17139

Abstract

The current development of the halal industry in the world has experienced a very significant increase to attract the attention of various groups. Trend indicators from the halal business can be seen in seven industrial sectors that continue to show an increase, including Islamic financial services, Halal food and beverages, Halal tourism, fashion, halal media and recreation, and well as halal pharmaceuticals and cosmetics. This study will raise the halal label on halal food and beverages in Indonesia. The quantitative research method used in this research is to apply Partial Least Square-Structural Equation Modeling (PLS-SEM) through Smart-PLS software. The sample of this research is 100, with the sampling technique used being non-probability sampling with the purposive sampling method. The results of this study are the significant influence of the halal label variable on purchase intention, purchase intention on buying decision, and the halal label variable on buying decision on halal food products in Indonesia. Alternatively, on product packaging, awareness of halal Indonesian society has begun to increase and make halal a lifestyle.  
Islamic Economic Perspective and Potential of Zakah Imposement on Cryptocurrency Rozi Irfan Rosyadhi; Abu Salim
Journal of Islamic Economic Laws Vol 5, No 1: January 2022
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v5i1.17204

Abstract

Indonesia is the home country for many Muslim, management and effectiveness of zakah is essential to the society. In the era of digital technology government imperative to use technology to improve the classical zakat administration ensure the transpiration and principle of easiness payment of zakah. This paper giving study of perspective of the economic islam and potential application zakah on cryptocurrency. This  is a qualitative approach where the primary resource from Indonesia zakah administration laws and the secondary source as journal, article and published report. The finding of this paper suggest that government and NGO should give facility and accepting payment zakah in crypto, the capability of transfer is more transparent and cross the border of the country using blockchains technology. Give society more secure and trust in zakah organization in Indonesia. This research will assist the zakah administration in Indonesai to adopt technology in this regard.
Adoption of Extended Theory of Planned Behavior to Halal Food Purchasing Decision Admist Pandemic Fuad Hasyim
Journal of Islamic Economic Laws Vol 5, No 1: January 2022
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v5i1.15162

Abstract

This study aims to see whether there has been a change in the pattern of consumption of halal food during a pandemic. This study used a sample of the Soloraya Residence with a random sampling distribution technique using an online questionnaire (G-form). The quantitative research method is carried out using the Extended TPB approach, and processed with the Structural Equation Modeling Technique. The results show that all constructs namely attitude, subjective norms, perceived behavioral control, religiosity and descriptive norms affect the purchase intention of halal food and the decision to buy halal food. By using a pandemic condition as a dummy variable, the results obtained are differences in decision making to buy halal food before and during a pandemic. This means that there is a pattern of changes in people's consumption that tends to choose halal food, even though the changes are small.
Islamic Insurance in Indonesia: Opportunities and Challenges on Developing the Industry Faricha Maf'ula; Denizar Abdurrahman Mi'raj
Journal of Islamic Economic Laws Vol 5, No 1: January 2022
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v5i1.16764

Abstract

Islamic insurance is a minor industry compared with other Islamic financial institutions in Indonesia. However, it has enormous potential to grow together with its challenges. This study aims to analyze the opportunities and challenges of the Islamic insurance industry in Indonesia. This research uses a qualitative methodology and descriptive analysis. The result summarizes that the possibilities are:  domino effect from Halal Value Chain and other development of government-owned enterprises; digitalization in Islamic Finance; and potential market of micro takaful. The challenges are needing a set regulatory framework as a catalyst to force supply and demand; market penetration is low, issues of Islamization insurance and the inadequate development of Islamic insurance products, limited retakaful company and qard hassan fund issue in retakaful.
Analysis of Amil Zakat Institutions Financial Performance Prior and During Covid-19 Faris Shalahuddin Zakiy; Eqi Suciati; Najim Nur Fauziah
Journal of Islamic Economic Laws Vol 5, No 1: January 2022
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v5i1.16312

Abstract

This study aims to measure the performance of amil zakat institutions using activity ratios, efficiency ratios, amil fund ratios, liquidity ratios, and growth ratios before and during covid-19. Besides, this paper also explores the extent of the impact of covid-19 on the performance of amil zakat institutions. This paper is a qualitative research study with a case study approach in Lazismu of the Central Java region. The case was raised from Lazismu financial statements in 2019 and 2020. The financial statements are measured and reviewed using ratios to describe in-depth financial performance. The findings of this study provide the results of calculations of the five ratios, including activity ratios, efficiency ratios, amil funds ratios, liquidity ratios and growth ratios. It shows good performance, efficiency, and a significant increase. The overall performance of the Lazismu central Java region is stable and tends to increase during covid-19, and its performance does not differ much before covid-19.
Building A Synergy Between The Halal Industry And The Green Industry In The Maqasid Syari'ah Review As The Basis Of Islamic Economics Achmad Fageh
Journal of Islamic Economic Laws Vol 5, No 1: January 2022
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v5i1.17034

Abstract

Industrial estates are usually reflected in the existence of a sure standardization. The halal industry gave birth to "Halal supply chain management," starting with halal standards procurement, manufacturing, distribution, and logistics. The green industrial area was first born by prioritizing environmental sustainability, namely efficiency in using renewable energy, environmentally friendly substitute raw materials, and waste treatment. So far, there has not been continuity seen in the Policy, so the concept of Maqasid Sharia as the basis of Islamic economics, which prioritizes "halalan thoyyiban" or halal and suitable, has not been used as a foundation to synergize the goodness of each industrial area so far. This research offers a concept of halal and environmental sustainability, which is reflected in the following industry supply chains. (1). Procurement of goods in a halal manner with environmentally friendly product raw materials criteria. (2). Manufacturing process by prioritizing the use of renewable energy. (3). Processing of waste products (gas, liquid and solid) to not damage the surrounding environment. (4). Halal Logistics and Distribution. So that what is contained in Maqashid Syariah can be implemented in this new concept

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