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Contact Name
Muhammad Hanif al Hakim
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mha961@ums.ac.id
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jisel@ums.ac.id
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Kota surakarta,
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INDONESIA
Journal of Islamic Economic Laws
ISSN : 26559609     EISSN : 26559617     DOI : -
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
Arjuna Subject : -
Articles 89 Documents
Positive Effect Of Attitude, Peer Influence, And Knowledge Zakat On Zakat Compliance Behavior: Update In Covid 19 Fifi Hakimi; Tika Widiastuti; M. Ubaidillah Al-Mustofa; Rizqiyyah Al Husanaa'
Journal of Islamic Economic Laws Vol 4, No 2: July 2021
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v4i2.13859

Abstract

This study aims to analyze the influence of the components of the Theory of Planned Behavior, which consists of positive attitude, peer influence, and zakat knowledge  on the compliance behavior of paying zakat profession with the intention to pay zakat as an intervening variable update case in covid 19. This research is a quantitative study using the Partial Least Square-Structural Equation Modeling (PLS-SEM) technique. The sample used  is 100 respondents based on the calculation of the Slovin formula with 129 respondents of zakat profession payers (muzakki) in Indonesia. Empirical findings indicate that a positive attitude and zakat knowledge positively and significantly affect the intention to pay zakat. The intention to pay zakat has a significant positive effect on the compliance behavior of paying zakat profession even during covid 19. Meanwhile, peer influence has no significant impact on the intention to pay zakat due to the Covid 19 era. Policymakers need to pay more attention to the factors that have been identified in this study as essential factors to become a reference in developing strategies to increase zakat collection. Zakat is one of potential Islamic social fund to eradicate poverty as impact of the Covid 19 pandemic.
Influence of Service Quality Dimensions of Islamic Banks on Customer Satisfaction and Their Impact on Customer Loyalty Afifah Afifah; Nurul Alfiah Kurniawati
Journal of Islamic Economic Laws Vol 4, No 2: July 2021
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v4i2.15089

Abstract

ABSTRACTStrengthening Islamic banking funding is one of particular strategies in the Indonesian Islamic banking master plan for 2019-2024, as one of their expected outputs is to increase market share and customer satisfaction of Islamic banks. This study aims to identify influence of service quality dimensions on customer satisfaction and their impacts on customer loyalty in Islamic banks in Indonesia. This study used a quantitative approach. Its data were collected by an online questionnaire with five Likert scales randomly given to 136 customers from several Islamic banks who had direct transactions at the Islamic banks. The sampling technique of this study used a purposive sampling technique, and its analysis technique used Structural Equation Modeling based on Partial Least Square (SEM-PLS). The findings of this paper indicate that the dimensions of both compliance and responsiveness have significant influence on customer satisfaction and customer loyalty. Meanwhile, assurance, reliability, and empathy dimensions have no significant impacts on customer satisfaction and customer loyalty. Tangible dimension has significant influence on customer satisfaction but has no significant influence on customer loyalty. Customer satisfaction has a significant impact on customer loyalty.Keywords: Islamic bank, CARTER model, customer satisfaction, customer loyalty
Marketing Ethics At Islamic Banks: Principles And Practices M Qoshid Al Hadi; Eko Nur Cahyo; Iman Setya Budi
Journal of Islamic Economic Laws Vol 4, No 2: July 2021
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v4i2.14716

Abstract

This article highlights the principles and implementation of Islamic banking marketing ethics. Ethics based on sharia principles are an essential differentiator from their competitors. It begins from the 4 P's marketing mix framework, namely product, price, promotion, and place. This article is qualitative descriptive research using literature review. This article employs secondary data from 11 articles. The data that has been collected then analyzed with descriptive information. Therefore, through 4 P's marketing mix lens, this article finds a lack of ethical marketing practices in Islamic Banking from the ethical ideals espoused in the literature. This study analyzes the ethical marketing practices of Islamic banks which can be used as an evaluation of policies in the Islamic financial industry.
Shariah Compliant Macaulay’s Duration Model Testing: Evidence from Islamic banks in Indonesia Syed Alamdar Ali Shah; Raditya Sukmana; Bayu Arie Fianto
Journal of Islamic Economic Laws Vol 4, No 2: July 2021
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v4i2.15358

Abstract

The purpose of this research is to test Shariah compliant duration models on Islamic banks in Indonesia. This will be achieved using data of earning assets and risk bearing liabilities of Indonesian Islamic banks from 2009 to 2019. Using multiple regressions the results suggest that Shariah compliant duration models are robust to calculate duration of earning assets, return bearing liabilities and Islamic banks. This research adds to the previous research of testing Shariah compliant duration model. Ultimately, it will improve profitability, risk efficiency and Shariah efficiency by improved Shariah compliant measures of risk management. This will ultimately improve market capitalization and returns stability in the long run. A major limitation of the study is very short length of data of Islamic banks. Still another limitation is difference in commencement of business of various Islamic banks that makes length of data unequal.
Reputation, Transparency, Trust and Waqif's Perception on Nadzir’s Professional Toward Intention to Act Waqf: Empirical Study in Pondok Modern Darussalam Gontor (PMDG) Azidni Rofiqo; Mohammad Muslih; Diyan Novita Sari
Journal of Islamic Economic Laws Vol 4, No 2: July 2021
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v4i2.14870

Abstract

This study aims to explore the reputation, transparency, trust, waqif perception of nadzir’s professionalism, and the intention to pay waqf in Gontor Institution. This study based on the theory of planned behavior (TPB) which examines the effect of  reputation, transparency, trust toward waqif perception of Nadzir’s professionalism and intention to pay waqf. The approach this study is a quantitative approach with structural equation modeling-partial least square (SEM-PLS) measurements. The number of respondents 200 alumni of the Pondok Modern Darussalam Gontor. The findings in this study indicate that reputation, transparency, trust have a significant positive effect on the intention to pay waqf at Pondok Modern Darussalam Gontor with the waqif’s perception of nadzir’s professionalism as mediating effect. Other findings indicate that trust as moderating effect between reputation and waqif perception of nadzir’s professional.
Analysis of the Effect of Word Of Mouth, Religiosity and Purchase Decisions of Alcoholic Beverages with Interest as a Mediation Variable Cahyaning Tiyas Rahayu
Journal of Islamic Economic Laws Vol 4, No 2: July 2021
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v4i2.14741

Abstract

This study aims to determine the effect of Word Of Mouth, Religiosity, on the decision to purchase alcoholic beverages in the Residency of Surakarta. This study found the factors that influence the decision to purchase alcoholic beverages in the Surakarta Residency. This research uses quantitative methodology to test the hypothesis. Statistical tests and data processing were carried out using Partial Least Square (Smart PLS 3.0). The research findings show that Word of Mouth has a significant and positive effect on purchasing decisions, religiosity has no effect on purchasing decisions, and word of mouth has a positive effect on purchase intention. Religiosity affects buying interest. Buying Interest has an effect on Purchase Decision.
Insurance and Takaful Concepts: An Islamic Analysis and Offer in Life Assurance Fuad Muhammad Zein; Anisa Rosdiana Zein; Afiq Miftahurizqi Alhaq
Journal of Islamic Economic Laws Vol 4, No 2: July 2021
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v4i2.14998

Abstract

This paper aims to provide a comparative analysis between the concept of insurance and the concept of takaful from an Islamic perspective. The method used in this paper is the study of libraries, in which the author seeks to find, summarize, analyze and ultimately deduce from various authoritative data sources. Insurance is a non-bank financial institution that offers protection against difficulties to the public. By paying dues or premiums that have been determined, the public has the right to make a claim that will be reimbursed by the insured party several funds that have also been determined. The insurer states to bear all risks that occur in the future. Therefore, all dues paid will be covered and managed by the company. However, it turns out that attitude is detrimental. Because the claim from the customer is not filed, then the customer's money is forfeited and entirely belongs to the company. In addition, the management of funds that are unclear and even almost unknown to customers makes this insurance practice illegal because it contains gharar and usury.
Economic Empowerment of Pesantren Through Agribusiness (Study On Al-Mawaddah Entrepreneurial Pesantren) Muhammad Baqi Mustaghfiri
Journal of Islamic Economic Laws Vol 3, No 1: January 2020
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v3i1.10068

Abstract

This paper aims for several research objectives. It aims to find out the agribusiness sectors developed by Al-Mawaddah Entrepreneurial Pesantren. It also aims to find out the empowerment of agribusiness developed by this pesantren. Last, it also aims to determine the impact of empowering agribusiness developed on improving the economy Al-Mawaddah Entrepreneurial Pesantren’s alumni. This research is a field research. The approach used by researcher is a qualitative descriptive approach with a case study strategy. Research location is at Pesantren Entrepreneur Al-Mawaddah Honggosoco Kudus RT. 06/ RW. 01, Jekulo District, Kudus Regency. Data collection techniques used are observation, interviews, and documentation. The data analysis technique used is descriptive qualitative. The results show that: (1) the agribusiness sector that was developed at Al-Mawaddah Entrepreneurial Pesantren touched only agriculture and educational sectors. It yet touches other agribusiness sectors, such as fisheries or livestock. The agricultural sector developed includes: agricultural food crops, such as: rice, corn, soybeans, vegetables, and cassava, fruit crops, such as: longan, and dragon fruit. They even plant within the premise sugar cane plantation; (2) Agribusiness Empowerment developed by Al-Mawaddah Entrepreneurial Pesantren consists of three stages, namely: input, process, and output; (3) Agribusiness entrepreneurship is better than working under other people (companies) because apart from freedom, the income generated is also higher.
The Islamic Law Perspective of Universitas Muhammadiyah Surakarta Pension Fund Management Ikhwanul Huda
Journal of Islamic Economic Laws Vol 2, No 1: January 2019
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v2i1.7664

Abstract

Pension fund is one of the non-bank financial institutions that manages and implements program to generate retirement benefits. Pension fund is one of potential resources of fund which operation can be based on either conventional or Islamic principle. This research will focus on the type of contracts used by Universitas Muhammadiyah Surakarta (UMS) Pension Fund whether its operation conforms the requirements of shariah princple or not. This research aims to know, elaborate and evaluate the conformity of shariah principle in the UMS Pension Fund operation. The type of research carried out here is qualitative with the descriptive evaluative approach. The data is obtained through observation, documentation and interview. The result of the research shows that the contracts used in managing the fund by UMS Pension Fund are muḍārabah, wakalah, ijārah and hibah. Muḍārabah contract is used between the pension fund and the participants as well as between pension fund and investee. Wakalah contract is used between the employer which is UMS in this case and the pension fund. Meanwhile, hibah contract is used between employer and participants.
Optimization of Islamic Peer-to-Peer Lending for Micro and Small Enterprises (MSEs) After Pandemic of Covid-19 Firsty Izzata Bella
Journal of Islamic Economic Laws Vol 3, No 2: July 2020
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v3i2.11337

Abstract

Indonesia and the rest of the world are grieving over the Covid-19 pandemic from December 2019 to the present, besides, no body known when this pandemic will end. In addition to impacting global health, the economy also experience the effects. One of the sectors that most got the impact of Covid-19 was the Micro and Small Business Sector (MSE). This research applied descriptive qualitative method through literature study utilized from books, scientific journals and other sources as supporters. The data used is intended as support for the phenomenon that occurs in Indonesia. Finally, the researcher tried to propose a new scheme in the form of filing MSE financing in groups according to business categories through the Islamic peer-to-peer lending (P2P) platform to provide easy capital access for the enterprises after the Covid-19 pandemic.