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REVIEW OF ISLAMIC ECONOMIC LAW IN THE FINANCING SYSTEM OF MJS PRODUCTS AT KPPS BINA SYARIAH UMMAH SUGIO BRANCH Rofiqoh, Relita; Afsal, Hamzah Maulana
Jurnal Justisia Ekonomika: Magister Hukum Ekonomi Syariah Vol 8 No 2 (2024): Desember
Publisher : Universitas Muhammadiyah Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/justeko.v8i2.24377

Cooperatives are a collection of several members who produce common goals. The sources of cooperative funds are mandatory dues, principal dues, and voluntary dues. This research applies field research. There are 2 data sources, namely primary data sources (the main source and directly obtained from the research site, namely interviews) and secondary data sources (books, journals, legislation, and other literature studies). The data collection methods used are observation, interviews, and documentation. Analysis of data collection in the form of reducing, analyzing, and drawing conclusions. The results of the research on the Practice of Islamic Economic Law Review in the MJS Product Financing System (Multi Jasa Sehatera) at Kpps Bina Syariah Ummah Sugio Branch are The implementation of the ijarah contract on MJS products at Kpps Bina Syariah Ummah Sugio Branch is not by the DSN MUI Fatwa at Number 09/DSN- MUI/IV/2000 because the fatwa explains that the ijarah contract is a contract in the form of a lease between the owner and the tenant and the compensation is in the form of rent from the item (ujrah) not profit sharing. Whereas in the MJS product, there is profit sharing, which is the sharing of profits from the results of its business or from the results of loans that have been given. So MJS products are not by the DSN MUI fatwa. Researchers suggest that MJS products are by the MUI fatwa, so the rent is in the form of goods or services that can be taken advantage of, not in the form of money, and at the end of the rental period there is no such thing as profit sharing but in the form of paying rent from the goods or services being rented.

THE INFLUENCE OF HALAL LITERACY, HALAL LABELING, PRODUCT QUALITY, AND PRICE ON SKINCARE PURCHASING DECISIONS: THE MEDIATING ROLE OF WILLINGNESS TO PAY A PREMIUM PRICE Karimah, Alfiatul; Dahruji
Jurnal Justisia Ekonomika: Magister Hukum Ekonomi Syariah Vol 8 No 2 (2024): Desember
Publisher : Universitas Muhammadiyah Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/justeko.v8i2.24390

The growing awareness of the importance of halal products has significantly influenced various sectors, including the cosmetics industry. However, prior research has predominantly focused on halal food and beverages, while halal skincare products, such as Somethinc, have received limited academic attention. Furthermore, studies that integrate halal literacy, labeling, product quality, and price about purchase decisions, with a willingness to pay a premium price as a mediating variable, remain scarce. This study examines the influence of halal literacy, halal label, product quality, and product price on the purchasing decisions of Somethinc skincare products among Gen Z, mediated by willingness to pay a premium price. The research method used is quantitative, with primary data obtained through questionnaires. The sampling was conducted using purposive sampling, with a total of 272 respondents. The data analysis technique used is Structural Equation Modeling (SEM), analyzed using the software SmartPLS version 3. The results of this study indicate that the variables halal literacy, product quality, and product price do not directly affect purchasing decisions, while the halal label variable and willingness to pay a premium price directly influence purchasing decisions. The halal literacy and halal label variables do not affect willingness to pay a premium price, whereas product quality and product price variables do affect willingness to pay a premium price. Additionally, halal literacy and halal labels do not influence purchasing decisions when mediated by a willingness to pay a premium price, whereas product quality and product price do influence purchasing decisions when mediated by a willingness to pay a premium price.

COMMON SIZE ANALYSIS OF THE FINANCIAL STATEMENTS OF BSI (BANK SYARIAH INDONESIA ) PERIOD 2020–2022 Boonmaloet, Monthita
Jurnal Justisia Ekonomika: Magister Hukum Ekonomi Syariah Vol 9 No 2 (2025): Desember 2025
Publisher : Universitas Muhammadiyah Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/justeko.v9i2.26025

This study analyzes the financial structure of Bank Syariah Indonesia (BSI) for the period 2020–2022 using the common size analysis method. This approach is employed to examine the proportional composition of assets, liabilities, income, and operating expenses, offering clearer insights into financial trends within Islamic banking. The analysis is conducted within the framework of Justicia Economica, which emphasizes equitable allocation of funds and efficient management of financial resources. The study adopts a descriptive quantitative method based on BSI’s officially published annual financial statements. Each financial item is converted into a percentage of total assets or total revenue to identify structural changes and compare financial proportions across the observed years. The results show that customer financing consistently represents the largest component of BSI’s assets, rising from 66.3% in 2020 to 69.7% in 2022. On the liabilities side, Third-Party Funds (DPK) remain the dominant source of funding, contributing over 82% annually and reflecting strong public confidence. Income is primarily derived from Sharia-compliant financing instruments, such as murabahah and ijarah, with non-financial income experiencing notable growth. Operating expenses increased throughout the period, contributing to a decline in pre-tax profit from 17.2% to 15.8%. This study provides a structured financial profile of BSI through common-size analysis and offers insights for policymakers and practitioners to enhance efficiency, strengthen capital structure, and optimize income diversification to support the sustainability of Islamic financial institutions.

AN ISLAMIC ECONOMIC LAW REVIEW OF THE QURBAN JOINT SAVINGS PRACTICE IN THE DARUT TAKWA TAKLIM ASSEMBLY imalah141220, imalah141220
Jurnal Justisia Ekonomika: Magister Hukum Ekonomi Syariah Vol 9 No 2 (2025): Desember 2025
Publisher : Universitas Muhammadiyah Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/justeko.v9i2.26302

The focus of the problem in this study: 1) How is the Analysis of the Implementation of the Sacrificial Joint Savings in the Taklim Assembly Darut Takwa Village, B.Oro Konang District? 2) Is the Implementation of Sacrificial Joint Savings in the Darut Takwa Taklim Assembly of B.Oro Village, Konang District, in accordance with the HES Perspective? This research uses qualitative research methods. Data collection techniques using interviews, observations, and documentation studies. Data analysis using condensation, data presentation, and conclusion drawing. The results of this study 1) Implementation of the Sacrificial Joint Savings at the Darut Takwa Women's Assembly uses three processes. The first is the savings process, the second is the joint venture process, and the third is the process of representing the purchase of sacrificial animals. 2) Implementation of Sacrificial Savings in Majelis Taklim Darut Takwa, B.Oro Village, Konang District. The activity succeeded in having a positive impact on the taklim assembly participants and the community around the taklim assembly. The sacrificial savings activity succeeded in fostering interest in sacrificing the mothers of the taklim assembly and the surrounding community. 3) Implementation of Kurban Joint Savings in Majelis Taklim Darut Takwa, B.Oro Village, Konang Subdistrict, has been in accordance with the Sharia Economic Law Perspective. First, in accordance with the Fatwa DSN MUI. NO: 02/2000 about savings. Second, in accordance with Book 2 of the Complication of Sharia Economic Law, CHAPTER VII Articles 187-194 concerning Syirkah Milk. Third, in accordance with Fatwa DSN MUI. NO: 10/2000 about Wakalah.

SHARIA COMPLIANCE IN THE USE OF COLLATERAL FOR RISK MITIGATION IN MURABAHAH FINANCING: A CASE STUDY OF COOPERATIVE SYIRKAH BERKAH BERSAMA SIDOARJO Wibowo, Endro
Jurnal Justisia Ekonomika: Magister Hukum Ekonomi Syariah Vol 9 No 2 (2025): Desember 2025
Publisher : Universitas Muhammadiyah Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/justeko.v9i2.26315

One of the biggest and most feared risks in murabahah financing is default risk. To mitigate the default risk, Islamic Financial Institutions usually require collateral as a condition for financing approval. Koperasi Syirkah Berkah Bersama (KSBB) Sidoarjo started the process of becoming an Islamic financial institution that can provide murabahah financing to its members while maintaining sharia compliance. One of KSBB's efforts to mitigate the risk of default and ensure sharia compliance in murabahah financing is through the use of collateral in murabahah financing. The purpose of this research is to understand the implementation of collateral in murabahah financing and the analysis of sharia compliance in that implementation as a form of mitigating the risk of default. This research method is a qualitative research methodology with a case study approach with descriptive qualitative data analysis. The research data processed in this research comes from informant interviews and various relevant documents related to guarantees in murabahah financing and then analyzed and compared with existing theories or fatwas. The results of this research show that the implementation of guarantees in murabahah financing has met sharia compliance, in accordance with the fatwa decrees of DSN MUI and AAOIFI.

COMPARATIVE ANALYSIS OF SELECTION OF SHARIA PUBLIC SAVINGS AND QURBAN SAVINGS PRODUCTS IN KOPSYAH MUI JATIM BRANCH SEKAPUK rohmah, mazidatur; Muhammad Ala’uddin; Dwi Afrianti
Jurnal Justisia Ekonomika: Magister Hukum Ekonomi Syariah Vol 9 No 2 (2025): Desember 2025
Publisher : Universitas Muhammadiyah Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/justeko.v9i2.26467

This study presents a comparative analysis of the selection of Sharia General Savings and Qurban Savings at KOPSYAH MUI East Java, Sekapuk Branch, with a case study on members of Bolo Village, Ujungpangkah. The objective is to identify the factors influencing members' preferences for both products. The research employed a qualitative comparative approach with descriptive-analytical methods, and data validity was ensured through triangulation techniques. The findings reveal that the factors influencing product selection include: (1) internal factors such as family, motivation, involvement, and age groups that shape social influence; (2) external factors such as product quality, profit-sharing system, location, and service, including a door-to-door service that facilitates transactions. This study presents a comparative analysis of the selection of Sharia General Savings and Qurban Savings at KOPSYAH MUI East Java, Sekapuk Branch, with a case study on members of Bolo Village, Ujungpangkah. The objective is to identify the factors influencing members' preferences for both products. The research employed a qualitative comparative approach with descriptive-analytical methods, and data validity was ensured through triangulation techniques. The findings reveal that the factors influencing product selection include: (1) internal factors such as family, motivation, involvement, and age groups that shape social influence; (2) external factors such as product quality, profit-sharing system, location, and service, including a door-to-door service that facilitates transactions.

THE INFLUENCE OF MACROECONOMIC INDICATORS ON THE PROFITABILITY OF CONVENTIONAL AND ISLAMIC BANKS: AN ISLAMIC ECONOMIC LAW PERSPECTIVE alfiyan, fri haendid; Cahya Lestari, Kurnia; Nasyah Agus Syaputra, Muhammad
Jurnal Justisia Ekonomika: Magister Hukum Ekonomi Syariah Vol 9 No 2 (2025): Desember 2025
Publisher : Universitas Muhammadiyah Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/justeko.v9i2.26618

This study aims to analyze the influence of macroeconomic indicators, namely inflation, exchange rate, and interest rate (BI Rate), on the profitability of conventional and Islamic banks in Indonesia, viewed through the lens of Islamic economic law. Using a quantitative approach with secondary data from financial reports and macroeconomic sources, the study applies t-tests, F-tests, and multiple linear regression analysis via SPSS 26. The findings reveal that only the BI Rate significantly affects the profitability (ROA) of conventional banks, while all macroeconomic variables show no significant impact on Islamic banks. From the perspective of Islamic economic law, this outcome affirms the inherent stability of Islamic banking principles, which emphasize fairness, risk-sharing, and the prohibition of riba. These principles help insulate Islamic banks from macroeconomic volatility. The results underscore the strategic importance of strengthening the Islamic banking system and integrating sharia-based monetary policies to support a more resilient and equitable financial system in the long term.

COMMON SIZE ANALYSIS OF THE FINANCIAL STRUCTURE OF BANK SYARIAH INDONESIA AND MALAYSIA YEAR 2022–2023 Leepum, Abad
Jurnal Justisia Ekonomika: Magister Hukum Ekonomi Syariah Vol 9 No 2 (2025): Desember 2025
Publisher : Universitas Muhammadiyah Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/justeko.v9i2.27034

The growth of the Sharia finance industry in Southeast Asia, particularly in Indonesia and Malaysia, demonstrates an intriguing dynamic in the management of asset and liability structures of Sharia banks. This study focuses on how the proportional differences in financial composition reflect managerial strategies, operational efficiency, and the maturity levels of the Sharia banking systems in both countries. The approach employed is quantitative-descriptive, utilizing common size analysis on the financial reports of Bank Syariah Indonesia (BSI) and Maybank Islamic Berhad for the period 2022–2023. Data was obtained from official annual reports and processed using Microsoft Excel. The results show that BSI allocates over 65% of its total assets to domestic financing, indicating a strong focus on real sector intermediation. In contrast, Maybank Islamic exhibits broader diversification, with Sharia financial instruments accounting for 15–18%. On the liability side, BSI relies on third-party funds up to 75%.

COMMON SIZE ANALYSIS OF THE FINANCIAL RESILIENCE OF SHARIA MICROFINANCE INSTITUTIONS (LKMS) IN FACING GLOBAL ECONOMIC VOLATILITY SINGKHALA, SURASIT
Jurnal Justisia Ekonomika: Magister Hukum Ekonomi Syariah Vol 9 No 2 (2025): Desember 2025
Publisher : Universitas Muhammadiyah Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/justeko.v9i2.27049

This study aims to analyze the level of financial resilience of Islamic Microfinance Institutions (LKMS) in facing increasingly uncertain global economic dynamics. Using a common size analysis approach, this study seeks to evaluate the ability of LKMS to maintain the efficiency and sustainability of its financial structures amidst external pressures such as inflation, exchange rate depreciation, and slowing economic growth. In the context of financial inclusion in Indonesia, LKMS plays a vital role as a provider of sharia-based alternative financial services and reaches the grassroots community. This study uses a qualitative method based on case studies with secondary data from officially published LKMS financial reports. The analysis results indicate that most LKMS exhibit adaptive patterns through strengthening liquid assets, diversifying revenue, operational cost efficiency, and increasing risk reserves. Thus, it can be concluded that LKMS has sufficient financial resilience to survive amidst global economic uncertainty. The implications of this study can serve as a reference for LKMS managers, regulators, and academics in strengthening sustainable Islamic microfinance governance.

ONLINE GAMBLING FROM THE PERSPECTIVE OF SHARIA ECONOMIC LAW AND ITS NEGATIVE PSYCHOLOGICAL IMPACT Prakoso, Firza Agung; Hakim, Edi Lukman; Ramdhani, Reviandy Azhar
Jurnal Justisia Ekonomika: Magister Hukum Ekonomi Syariah Vol 9 No 2 (2025): Desember 2025
Publisher : Universitas Muhammadiyah Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/justeko.v9i2.28407

Online gambling is increasingly prevalent among the Indonesian population, with a wide range of online gambling products available and popular across nearly all levels of society. Legally, gambling in Indonesia is considered an illegal activity, and individuals who engage in it may face criminal sanctions in accordance with the applicable laws and regulations. In practice, online gambling is typically conducted in private locations, given that gambling is regarded as an unlawful act and may result in criminal penalties. This study employs a qualitative approach using a literature review method. The types of online gambling commonly played can be categorised into nine groups: online poker, domino QQ, online football betting, capsa susun, virtual sports, online e-games betting, number games, online ceme dealers, and blackjack. From an Islamic perspective, gambling is clearly prohibited (haram), and the profits derived from gambling are considered usury (riba). Participation in gambling is often influenced by environmental factors, such as interactions with dealers or peers who also gamble, thereby encouraging involvement. Additionally, the motivation to gamble can stem from internal factors, such as an individual’s personal desire to attain wealth rapidly.

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