cover
Contact Name
Mujahidin
Contact Email
mujahidin@iainpalopo.ac.id
Phone
+6281243481878
Journal Mail Official
al-kharaj@iainpalopo.ac.id
Editorial Address
Jl. Bitti, Blandai Kota Palopo
Location
Kota palopo,
Sulawesi selatan
INDONESIA
Al-Kharaj: Journal of Islamic Economic and Business
ISSN : 2686262X     EISSN : 26859300     DOI : 10.24256/kharaj.v4i2
Core Subject : Economy,
Al-Kharaj, Journal of Islamic Economic and Business is peer-reviewed journal published by program studi ekonomi syariah , Institut Agama Islam Negeri (IAIN) Palopo. Al-Kharaj focus on the research of Islamic Economic and Business. The aims of this journal is to explore and develop economic related to Islamic and Business. This Journal welcomes contributions from researchers in related diciplines.
Articles 1,394 Documents
An Analysis of the Impact of Flash Floods on the Economic Welfare of the Community in Batang Toru From the Perspective of Maqasid Sharia Rizalul Muslih Syawaluddin Hsb; Maryam Batubara; Muhammad Arif
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 3 (2026): Vol. 8 No. 2 (2026): All articles in this issue include authors from 3 countrie
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i3.12279

Abstract

This study analyzes the factors causing landslides and flash floods and their impact on the economic well-being of communities in Batang Toru District, South Tapanuli Regency, from the perspective of Maqasid Sharia. It was prompted by the flash flood disaster of 25 November 2025, which resulted in fatalities, infrastructure damage, loss of productive assets, and disruption of social-economic activities. This qualitative field research collected data through in-depth interviews, observation, and documentation involving the village head, the Regional Disaster Management Agency (BPBD), and affected residents, analyzed using the Miles, Huberman, and Saldaña interactive model. The findings show that the disaster was caused by the interaction of extreme rainfall, steep topography, the overflow of the Batang Toru River, land-use change, and river sedimentation. The disaster significantly affected economic well-being through damaged farmland, lost productive assets, halted economic activity, declining household income, heightened health risks, and disrupted children's education. From the Maqasid Sharia perspective, these impacts touch all five essential objectives of sharia: hifz al-din, hifz al-nafs, hifz al-'aql, hifz al-nasl, and hifz al-mal. Mitigation, emergency response, and rehabilitation efforts by the government, BPBD, and the community reflect the implementation of Maqasid Sharia values, although economic recovery still requires strengthening through environmental-conservation-based mitigation policy and post-disaster economic empowerment programs.
Analysis of Determinants of Sharia Stock Price Index in the Jakarta Islamic Index (JII) for the Year 2015–2025 Sarah Fitria Harahap; Maryam Batubara; Yusrizal
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 3 (2026): Vol. 8 No. 2 (2026): All articles in this issue include authors from 3 countrie
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i3.12282

Abstract

The purpose of this research is to determine the impact of inflation, exchange rates, and world oil prices on the Islamic stock price index in the Jakarta Islamic Index (JII) from 2015 to 2025. The research method used is a quantitative method with a multiple linear regression model, and the data source is secondary data obtained from the official websites of BPS and IDX. The data analysis techniques used are classical assumption tests, multiple linear regression tests, and hypothesis tests. Based on the data analysis results, inflation has a positive and insignificant effect on the JII. The exchange rate has a negative and significant effect on the JII, and world oil prices have a positive and insignificant effect on the JII. Simultaneously, inflation, the exchange rate, and world oil prices influence the JII by 66.2%, while the remaining 33.8% is explained by other variables outside the model. The results of this study imply that investors should pay more attention to exchange rate developments when considering investment decisions in sharia stocks. For the government and relevant authorities, exchange rate stability is one of the factors that need to be considered in maintaining the stability of the sharia capital market.
E-Commerce, Financial Technology, and MSME Development: the Moderating Role of Digital Literacy in Islamic Economics Anwar Sadat; Muhammad Syukri Albani Nasution; Muhammad Irwan Padli Nasution
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 3 (2026): Vol. 8 No. 2 (2026): All articles in this issue include authors from 3 countrie
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i3.12291

Abstract

Purpose: This study examines the direct effects of e-commerce, financial technology, and digital literacy on MSME development in Medan City, tests digital literacy as a moderator, and interprets the findings from an Islamic economic perspective. Methods: A quantitative cross-sectional survey involved 85 digitally active MSME owners or operators purposively selected from a population of 38,343 businesses. Five-point Likert data were analyzed using partial least squares structural equation modeling (PLS-SEM). Results: E-commerce (β = .256; p = .013), financial technology (β = .359; p = .001), and digital literacy (β = .359; p < .001) each had positive direct effects. The model explained 73.3% of MSME-development variance. Digital literacy did not moderate the financial-technology relationship (β = .005; p = .959) or the e-commerce relationship (β = -.057; p = .592). Implications: Digital literacy operates primarily as a direct business capability. MSME support should combine e-commerce optimization, secure digital finance, and Sharia-compliant digital-literacy development based on transparency, mutual consent, justice, and avoidance of riba, gharar, maysir, tadlis, and prohibited transactions.
MSME Empowerment Strategies through Islamic Cooperatives: A SWOT and QSPM Approach Zainuddin Harahap; Saparuddin; Maryam Batubara
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 3 (2026): Vol. 8 No. 2 (2026): All articles in this issue include authors from 3 countrie
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i3.12292

Abstract

Purpose: This study analyzes MSME empowerment by Koperasi UMKM Syariah Sumut and identifies priority strategies consistent with Islamic economics and Maqasid al-Shariah. Methods: A descriptive qualitative case study used interviews, observation, documentation, and strategic questionnaires, supported by IFE/EFAS, SWOT/TOWS, the IE Matrix, and QSPM. Eleven informants participated. Results: The IFE score was 2.59 and EFE score 2.75. SWOT coordinates (.71; 1.13) placed the cooperative in Quadrant I, while the IE Matrix placed it in Cell V. QSPM prioritized sharia-based business mentoring (STAS 6.95), followed by digitalization (6.80), Islamic financial literacy (6.65), strategic partnerships (6.12), and halal-local product development (5.39). Implications: Financing is more empowering when integrated with continuous mentoring, institutional strengthening, digital monitoring, and Maqasid-oriented outcomes. A contextual 6P empowerment model is proposed.