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Contact Name
Ririn Noviyanti
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+6285655612994
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iqtishodia2016@gmail.com
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INDONESIA
Iqtishodia: Jurnal Ekonomi Syariah
Published by Universitas Al-Qolam
ISSN : 2503118X     EISSN : 25804669     DOI : -
Iqtishodia: Jurnal Ekonomi Syariah is a scientific journal that serves as a means of developing intellectual lecturers and academics of Islamic economic activists.
Articles 7 Documents
Search results for , issue "Vol. 10 No. 2 (2025): September" : 7 Documents clear
The Effect of Investment Portfolio on Investment Returns in Islamic Insurance Companies Aprilianto, Fitrian; Mahdi, Fadilla Muhammad
Iqtishodia: Jurnal Ekonomi Syariah Vol. 10 No. 2 (2025): September
Publisher : Universitas Al-Qolam Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35897/iqtishodia.v10i2.1521

Abstract

The importance of investment portfolios in Islamic insurance companies is fundamental to obtaining optimal returns. A well-diversified portfolio can help companies manage their risks and optimize their returns. By opting for appropriate investment instruments, the company can enhance liquidity, stability, and asset growth, which in turn will provide greater benefits to insurance participants. This study focuses on investment portfolio variables, given the important role of investment in Islamic insurance companies. Therefore, this study aims to determine the effect of deposit variables, Islamic stocks, corporate sukuk, State Sharia Securities (SBSN), Islamic mutual funds, direct investment, and other investments on the investment returns of Islamic insurance companies. This study uses a quantitative research approach; it uses the type of data, which is secondary data obtained from the Financial Services Authority (OJK), starting from January 2014-December 2022. The method of analysis used in this research is multiple linear regression analysis. The results showed that the variable deposits, Sharia stocks, corporate sukuk, Sharia mutual funds, direct participation, and other investments had a significant effect, while the SBSN variable was not significant.
The Influence of Sharia Commitment on Business Sustainability Among Interest-Free Communities in the Soloraya Region Subando, Joko; Syamsuddin, Syamsuddin; Nisa, Izzun Khoirun; Al Indisi, Muhammad Yahya Ayas; Hendoyo, Muhammad Fajar; Haqa, Muhammad Nazihul
Iqtishodia: Jurnal Ekonomi Syariah Vol. 10 No. 2 (2025): September
Publisher : Universitas Al-Qolam Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35897/iqtishodia.v10i2.1897

Abstract

This study aims to examine the influence of commitment to Sharia commands and prohibitions on financial growth and business sustainability among interest-free communities. The research focuses on the impact of commitment to Sharia commands and prohibitions on financial growth, strategic sustainability, and the sustainability of business organizational structures. A quantitative method with a survey design was used, involving a sample of 64 respondents in the Soloraya region. Data were collected through questionnaires and analyzed using Structural Equation Modeling (SEM) with the help of SmartPLS software. The results show that commitment to Sharia commands has a positive and significant effect on financial growth, strategic sustainability, and organizational structure. Commitment to Sharia prohibitions also has a positive and significant effect on financial growth and structural sustainability, but not on strategic sustainability. Simultaneously, both types of Sharia commitment have a significant effect on overall business sustainability from financial, strategic, and structural aspects. These findings highlight the importance of comprehensive implementation of Sharia principles in maintaining sustainable business practices. This research provides a foundation for the development of Sharia business management and supportive policies for interest-free UMKM.
Fintech Ecosystem on Blockchain-Based Sukuk: Perspective of Al-Najjar's Maqāṣid Al-Shariah Concept Iman, Aldi Khusmufa Nur; Zustika, Anisa Fadilah; Maghfiroh, Lailatul; Wahdati, Anis
Iqtishodia: Jurnal Ekonomi Syariah Vol. 10 No. 2 (2025): September
Publisher : Universitas Al-Qolam Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35897/iqtishodia.v10i2.2086

Abstract

The Fourth Industrial Revolution has had a significant impact on financial technology, one of which is the emergence of blockchain technology as a tool for sukuk issuance. This study aims to analyze the fintech ecosystem in blockchain-based sukuk using the Maqāṣid al-najjar theory approach, which include: faith, humanity, self, mind, welfare, social entities, wealth, and the environment. This study uses a qualitative methodology with a literature study approach. The results of the study indicate that sukuk based on blockchain technology are in line with seven of the eight basic principles set out in the Maqāṣid al-najjar framework. technology such as smart contracts, transparency of blockchain technology, efficiency of sukuk issuance, and safe and globally supportive accessibility. such as an example of one of the values of faith through Sharia compliance, humanity through efficiency and reduction of issuance costs, and wealth through the distribution of assets carried out safely and transparently. However, the environmental dimension is still not met in these values, due to the high energy consumption of blockchain, which is contrary to the Maqāṣid al-najjar theory of preserving the environment. This study concludes that blockchain technology-based sukuk is very much in line with the basic principles of Maqāṣid Al Najjar, such as increasing the efficiency and accessibility of Islamic financial instruments. However, to fully fulfill the eight elements of Maqāṣid sharia initiated by al najjar, efforts are needed to address environmental problems and challenges through the development and innovation of energy-efficient blockchain technology or other sustainable solutions
Implementation of Fundraising Management at BAZNAS Hulu Sungai Tengah in Increasing ZIS Collection Rama , Rama; Rofi'i, Rofi'i; Zulkifli, Zulkifli; Aviva, Itsla Yunisva
Iqtishodia: Jurnal Ekonomi Syariah Vol. 10 No. 2 (2025): September
Publisher : Universitas Al-Qolam Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35897/iqtishodia.v10i2.2149

Abstract

Indonesia has significant zakat potential, yet actual collection remains far below expectations. In Hulu Sungai Tengah (HST) Regency, for example, zakat potential is estimated at IDR 3.1 trillion, while BAZNAS HST collected only IDR 3.09 billion in 2024. This study aims to analyze the implementation of fundraising management at BAZNAS HST using the POAC (Planning, Organizing, Actuating, Controlling) framework, identify the fundraising strategies applied, and evaluate their impact on zakat, infaq, and sadaqah (ZIS) collection. A descriptive qualitative method was employed, with data collected through in-depth interviews with BAZNAS HST officials, direct observations, and financial report documentation, and analyzed using Miles and Huberman’s interactive model. The findings show that BAZNAS HST applied structured planning (RKAT), organizing through decreed teams, innovative programs such as Blessed Friday and Baznas Corner, and routine evaluations, which together increased ZIS collection from IDR 790.98 million in 2022 to IDR 3.09 billion in 2024, with muzakki rising from 134 to 207. Nevertheless, this improvement was also influenced by external factors, including post-pandemic religious awareness, digital zakat trends, inflation, and government support. The study contributes theoretically by affirming both the relevance and limitations of POAC in zakat management, and practically by offering a replicable fundraising model adaptable to local contexts.
Legal Protection for Investors in Share Transactions with Repurchase Agreement Rights According to DSN-MUI Fatwa No. 94/DSN-MUI/IV/2014 Nursandi, Reza; Ardiansyah
Iqtishodia: Jurnal Ekonomi Syariah Vol. 10 No. 2 (2025): September
Publisher : Universitas Al-Qolam Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35897/iqtishodia.v10i2.2154

Abstract

The DSN-MUI Fatwa No. 94/DSN-MUI/IV/2014 serves as an Islamic legal guideline to ensure that REPO transactions are conducted based on valid, transparent, and fair contracts. This study aims to analyze the forms of legal protection for investors in stock transactions with REPO rights according to the fatwa and review its compliance with the capital market legal system in Indonesia. The research method used is normative juridical with a statutory approach and sharia fatwas. The results show that this fatwa provides strong legal protection for investors through the regulation of the contract structure, the prohibition of transfer of benefits during the REPO period, and dispute resolution provisions that comply with sharia principles. This protection is strengthened by the role of the Financial Services Authority (OJK) and the Sharia Supervisory Board in supervising and implementing sharia REPO transactions. Thus, this fatwa is an important instrument in realizing safe and just sharia capital market transactions.
Digital Transformation in Halal Product Marketing: A Maqasid al-Shariah Approach Author, Muhammad Nailul
Iqtishodia: Jurnal Ekonomi Syariah Vol. 10 No. 2 (2025): September
Publisher : Universitas Al-Qolam Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35897/iqtishodia.v10i2.1908

Abstract

This study explores the digital transformation in halal product marketing through the lens of Maqasid al-Shariah, aiming to identify ethical and effective strategies aligned with Islamic values. Utilizing a qualitative approach and purposive sampling, five informants including one key informant from BAZNAS and four halal entrepreneurs from the SOHIB (Sobat Hidup Berkah) community were interviewed. The findings reveal that halal digital marketing practices uphold the five key principles of Maqasid al-Shariah: (1) Hifz al-Din is maintained through honest promotions and the avoidance of deceptive content; (2) Hifz al-Nafs is ensured by responsive customer service that fosters trust and consumer protection; (3) Hifz al-‘Aql is supported through educational content that enhances consumer awareness of halal benefits; (4) Hifz al-Nasl and (5) Hifz al-Mal are reflected in responsible, transparent pricing, ethical refund policies, and quality assurance for long-term business sustainability. This research proposes a conceptual model to guide halal entrepreneurs in developing digital marketing strategies that are both Sharia-compliant and competitive. The study contributes to the literature on Islamic marketing and offers practical insights for the halal industry in the digital era
The Role of Trust in Mediating the Influence of Islamic Branding on the Decision to Stay at Sharia Hotels Wandari, Eny Lastio; Siswanto, Siswanto; Mahfudz, Masyhuri
Iqtishodia: Jurnal Ekonomi Syariah Vol. 10 No. 2 (2025): September
Publisher : Universitas Al-Qolam Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35897/iqtishodia.v10i2.2183

Abstract

This study analyzes the mediating role of trust in the relationship between Islamic branding and stay decisions at sharia hotels. Although interest in Islamic-based hospitality is increasing, limited studies have explored the mediating effect of trust in this context, especially in Indonesia. Using a quantitative approach with Structural Equation Modeling (SEM-PLS), data were collected from 200 respondents who had stayed in sharia hotels in Malang City, East Java, through purposive sampling. The results show that Islamic branding positively and significantly affects trust, and trust significantly influences stay decisions. The model explains 68.5% of the variance in stay decisions (R² = 0.685), with a Variance Accounted For (VAF) of 63%, confirming partial mediation. These findings highlight that a strong Islamic brand enhances customer trust and encourages stay decisions. Theoretically, this study enriches Islamic marketing literature by validating the mediating mechanism of trust, while practically offering insights for sharia hotel managers to strengthen trust through consistent Islamic branding.

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