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bakhrul huda
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El-Qist : Journal of Islamic Economics and Business (JIEB)
Published by Universitas Islam Negeri Sunan Ampel
ISSN : 22527907     EISSN : 27160335     DOI : https://doi.org/10.15642/elqist
Core Subject : Economy, Science, Social,
Economics, Econometrics & Finance Library & Information Science Social Sciences
el-Qist: Journal of Islamic Economics and Business (JIEB) Merupakan jurnal yang terbit dua kali dalam satu tahun, bulan April dan Oktober, berisi kajian-kajian Ekonomi dan Bisnis Islam, baik berupa artikel konsepsional ataupun hasil penelitian
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 428 Documents
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Beyond Sharia Compliance: Shifting Muslim Consumer Expectations and the Strategic Response of the Global Halal Industry Razali, Ramadhan; Ulfah, Almira Keumala; Ismail, Sherif Mohamed A.; Lulaj, Enkeleda
El-Qist: Journal of Islamic Economics and Business (JIEB) Vol. 16 No. 1 (2026): April (on-going)
Publisher : Islamic Economics Department, Faculty of Islamic Economics and Business, Sunan Ampel State Islamic University, Surabaya Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15642/elqist.2026.16.1.1-17

Abstract

Background: The global halal industry is undergoing a paradigm shift driven by evolving Muslim consumer behaviors that increasingly intersect with sustainability and digital transformation. Despite its growth, a significant gap persists between conventional sharia compliance and modern expectations for ethical transparency. Objective: This study aims to identify shifting patterns in Muslim consumer behavior, analyze the gap between consumer expectations and industry capacity, and formulate adaptive strategies—specifically focusing on digitalization and regulatory harmonization within the ASEAN context. Methodology: A qualitative approach was employed, integrating a comprehensive literature review with in-depth, semi-structured interviews with 25 key informants. Participants included Muslim consumers (aged 18–45) from Indonesia, Malaysia, the UK, and Japan, alongside industry actors and policymakers. Data were analyzed using thematic content analysis to capture nuanced perspectives on halal-ṭayyib and global business ethics. Findings: The results reveal three critical dimensions for the industry’s future: (1) a shift in consumer demand toward halal-ṭayyib, encompassing quality and global ethical standards; (2) the pivotal role of digital technologies, such as Blockchain and IoT, in enhancing supply chain traceability; and (3) the urgent need for international regulatory harmonization, exemplified by the proposed Halal Industry Administration (HIA) in the Philippines. Conclusion: This study contributes to theoretical discourse by integrating Islamic consumption patterns with Institutional Theory and sustainability frameworks. It asserts that halal governance is a multidimensional construct in which Sharia integrity must align with global ESG (Environmental, Social, and Governance) principles.
Moral Obligation, Social Values Creation, and Self Efficacy: Determining Factors for the Success of Madurese Sociopreneurs in Halal Branding of MSMEs Haryanto, Rudy; Purnamawati, Anni Muslimah; Anwar, Moh. Muhlis; Anis, Moh; Suaidi, Suaidi; Sufyan, Akhmad Farid Mawardi
El-Qist: Journal of Islamic Economics and Business (JIEB) Vol. 16 No. 1 (2026): April (on-going)
Publisher : Islamic Economics Department, Faculty of Islamic Economics and Business, Sunan Ampel State Islamic University, Surabaya Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15642/elqist.2026.16.1.18-40

Abstract

Background: Despite Indonesia’s mandatory Halal Product Assurance policy, halal branding adoption among micro, small, and medium enterprises (MSMEs) remains uneven, particularly in culturally embedded regions such as Madura. Existing studies predominantly explain halal adoption through regulatory and attitudinal frameworks, offering limited insight into the roles of internal ethical motivation and perceived entrepreneurial capability. Anchored in Social Cognitive Theory. Objective: This study investigates the structural relationships among moral obligation, social value creation, self-efficacy, and the implementation of halal branding. A quantitative cross-sectional survey was conducted across four regencies in Madura. Methodology: Using the Lemeshow sampling formula to determine a representative sample of MSME actors. Data were collected by the Authors through structured Likert-scale instruments and analyzed using Structural Equation Modeling (SEM). Construct validity and reliability were established before hypothesis testing, and the structural model demonstrated acceptable goodness-of-fit indices. Findings: The findings reveal that moral obligation and the creation of social value significantly enhance entrepreneurial self-efficacy. All three variables exert positive and significant effects on halal branding implementation, with self-efficacy partially mediating the influence of ethical and social orientation on branding adoption. These results indicate that halal branding is driven not solely by regulatory compliance but by the interaction between moral conviction, community-oriented value creation, and cognitive confidence. Conclusion: This study advances halal entrepreneurship literature by integrating ethical motivation and sociopreneurial values within a capability-based behavioral framework, offering empirical insights to strengthen sustainable halal ecosystem development in emerging regional economies.
Beyond Resource Dependency: The Protective-Economy Model for Institutional Resilience in Faith-Based Enterprises Mohammad, Majduddin; Kholis, Nur; Sa'dullah, M. Havy; Fahmi, Muhammad Izzul; Muhammad, Auwalu Shuaibu
El-Qist: Journal of Islamic Economics and Business (JIEB) Vol. 16 No. 1 (2026): April (on-going)
Publisher : Islamic Economics Department, Faculty of Islamic Economics and Business, Sunan Ampel State Islamic University, Surabaya Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15642/elqist.2026.16.1.41-60

Abstract

Prologue: Faith-based educational institutions increasingly face financial and environmental uncertainties that threaten their operational sustainability. Despite the growing role of Islamic social finance and community-based economic initiatives, limited empirical research explains how religious institutions develop integrated economic strategies to withstand systemic shocks. Objective: This study aims to conceptualize and empirically examine the protective economy as an institutional capability that strengthens resilience in faith-based organizations through the integration of Islamic social finance, circular economy practices, and strategic resource management. Methods: The research employs an embedded single-case study design at Pondok Pesantren Mambaus Sholihin, East Java, Indonesia. Data were collected through 34 semi-structured interviews, analysis of audited financial statements over a five-year period (2019–2025), and direct field observation. The data were analyzed using reflexive thematic analysis and fuzzy-set Qualitative Comparative Analysis (fsQCA) to identify causal configurations that support institutional resilience. Results/Findings: The findings demonstrate that the configuration of high income diversification, strong internal consumption loyalty, and adequate liquidity reserves enabled the institution to maintain uninterrupted service delivery during the COVID-19 pandemic and periods of commodity price volatility. Empirical indicators show that tuition dependence declined from 79% to 43%, liquidity reserves increased from 1.7 to 4.6 months of operational expenditure, waste-to-product conversion improved from 18% to 46%, and transparency scores rose from 72 to 88. Contribution: This study extends Resource Dependence Theory by highlighting the mediating roles of behavioral loyalty and governance transparency in strengthening resilience within faith-based organizations. It also proposes a protective economy dashboard—comprising the financial autonomy ratio, diversification index, waste-to-product ratio, and institutional trust score—as a practical monitoring framework for policymakers, philanthropic investors, and Islamic social finance institutions.
The Paradox of Halal Branding: Navigating Religious Sincerity and Market Commodification in Indonesia's Middle-Class Economy Aziz, Muhammad; Sholikah, Sholikah; Mujrimin, Bayu; Ghazali, Mohd Fahmi
El-Qist: Journal of Islamic Economics and Business (JIEB) Vol. 16 No. 1 (2026): April (on-going)
Publisher : Islamic Economics Department, Faculty of Islamic Economics and Business, Sunan Ampel State Islamic University, Surabaya Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15642/elqist.2026.16.1.61-86

Abstract

Abstract: Prologue: Halal branding in Indonesia has evolved beyond a religious requirement into a complex arena where spiritual authenticity intersects with market commodification. While intended to embody ethical compliance, the proliferation of halal labels among the expanding Muslim middle class has transformed "halal" into a competitive economic signifier. Despite extensive studies on consumer behavior, limited research critically examines the multipolar contestation among state authority, religious scholars, and market actors over how to navigate the tension between substantive religiosity and symbolic capital. Objective: This study aims to conceptualize the paradox of halal branding as a "hybridization" of religious, identity, and economic dimensions. It seeks to examine how this contestation shapes branding practices in Indonesia and evaluate its impact on religious sincerity through the lens of Maqāṣid al-Sharī‘ah. Methods: The research employs a qualitative approach combining an interdisciplinary literature review with field observations. Empirical data were gathered through the researcher's direct involvement in assisting Micro and Small Enterprises (MSEs) in the "SEHATI" (Sertifikat Halal Gratis; Free Halal Certification) program across Central and East Java (Semarang, Tuban, and Bojonegoro). The study utilizes a political economy of Islamic consumption framework, analyzed through reflexive thematic analysis, to map the shifting authority from the Indonesian Ulema Council (MUI) to the state (BPJPH) and its implications for market dynamics. Results/Findings: The findings demonstrate that halal branding in Indonesia operates through a "dual movement": the moralization of markets and the marketization of morality. Results indicate that while state-led certification (BPJPH) has democratized market access for MSEs, it has also triggered a contestation over "epistemic authority" between the state and the ulama. The study identifies that successful branding—exemplified by the cosmetics and tourism sectors—relies on a synergy in which religious values, modern identity, and economic logic reinforce one another. However, a significant paradox remains: the dominance of market rationality often leads to a "shallowing of meaning," where the halal label risks becoming a mere commodity, potentially displacing the substance of spiritual values. Contribution: This study enriches the sociology of religion and Islamic political economy by applying Abdul Majid an-Najjar's framework of maqāṣid al-sharī‘ah—specifically ḥifẓ al-mujtama' (protecting society) and ḥifẓ al-kiyān al-insānī (protecting human existence)—to evaluate market ethics. It proposes a balanced branding model that integrates institutional transparency with a religious narrative, providing a strategic framework for policymakers and businesses to ensure that halal branding enhances substantive religiosity rather than merely facilitating the commercialization of Islamic identity.
Bridging the Gap Between Islamic Banking and Social Finance: A Macro-Financial Evaluation of Zakat Governance in Indonesia Muhammad Yoesoef, Yoesrizal; Fazlurrahman Syarif, Muhammad
El-Qist: Journal of Islamic Economics and Business (JIEB) Vol. 16 No. 1 (2026): April (on-going)
Publisher : Islamic Economics Department, Faculty of Islamic Economics and Business, Sunan Ampel State Islamic University, Surabaya Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15642/elqist.2026.16.1.87-107

Abstract

Background: Despite the significant potential of zakat as an instrument of socio-economic redistribution, its formal mobilization remains persistently below capacity in many Muslim-majority countries, including Indonesia. This gap raises critical questions about the extent to which Islamic financial development contributes to philanthropic governance. Objective: This study aims to investigate the macro-financial relationship between Islamic banking performance and formal zakat distribution, focusing on the roles of Islamic financing, depositor trust, and bank profitability in shaping national zakat mobilization. Methodology: Using monthly time-series data from January 2016 to December 2024, this study applies the Autoregressive Distributed Lag (ARDL) bounds testing approach to estimate both short-run and long-run dynamics among the variables. Findings: The results confirm the existence of long-run cointegration. Depositor trust emerges as the most influential determinant, with substantially higher elasticity compared to Islamic financing, indicating that institutional credibility is the primary driver of zakat mobilization. In contrast, bank profitability does not exhibit a statistically significant effect, revealing a structural disconnect between commercial performance and philanthropic outcomes. This finding reflects the voluntary nature of corporate zakat within the current regulatory framework, which limits the transmission of financial gains into social redistribution. Conclusion: This study contributes to the literature by providing novel macro-level time-series evidence on the financial–philanthropic nexus in Islamic finance. It extends the application of Signaling Theory and Stakeholder Theory into the domain of Islamic social finance, offering a new analytical framework to explain how institutional trust mediates the relationship between financial intermediation and zakat governance. The study also provides a replicable empirical model for future research across Muslim-majority economies. Practical Implications: The findings highlight the need for coordinated institutional reform. Zakat authorities should strengthen transparency and accountability through integrated digital reporting systems to enhance public trust. Financial regulators are encouraged to formalize corporate zakat through mandatory disclosure frameworks and targeted fiscal incentives, thereby aligning banking performance with philanthropic responsibilities. In parallel, Islamic banks should incorporate zakat governance into their strategic and sustainability frameworks, fostering closer collaboration with zakat institutions to optimize the effectiveness of formal zakat distribution.
Beyond Farā’iḍ Texts: Maqāṣid al-Sharīʿah and Substantive Justice in the Banjar Tradition of Equal Inheritance Maimanah, Maimanah; Nor'ainah, Nor'ainah; Faridah, Siti; Arni, Arni
El-Qist: Journal of Islamic Economics and Business (JIEB) Vol. 16 No. 1 (2026): April (on-going)
Publisher : Islamic Economics Department, Faculty of Islamic Economics and Business, Sunan Ampel State Islamic University, Surabaya Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15642/elqist.2026.16.1.108-126

Abstract

Background and objective: This study critically examines the Banjar tradition of equal inheritance distribution as a model of substantive justice that challenges the dominance of farā’iḍ -based formalism in Islamic inheritance law. Although classical jurisprudence prescribes fixed proportional shares, contemporary Islamic legal scholarship has yet to fully theorize how maqāṣid al-sharīʿah can operate not merely as a supplementary interpretive tool, but as an autonomous normative framework capable of reconfiguring inheritance principles toward substantive justice. Methodology: This research adopts a normative juridical approach grounded in systematic textual and conceptual analysis of the Qur’an, hadith, and classical as well as contemporary works of uṣūl al-fiqh, with particular emphasis on maqāṣid al-sharīʿah theory as developed by scholars such as al-Shāṭibī and its modern reinterpretations. Findings: The analysis demonstrates that equal inheritance distribution can be justified within a maqāṣid-oriented framework that prioritizes justice (ʿadl), welfare (maṣlaḥah), and the protection of lineage and wealth (ḥifẓ al-nasl and ḥifẓ al-māl). By reinterpreting inheritance norms through the hierarchy of legal objectives, the study argues that classical proportional rules should be understood as context-bound applications rather than immutable prescriptions, thereby opening space for alternative distributive models that better reflect contemporary socio-economic realities. Contribution: This study contributes to Islamic legal theory by advancing a paradigmatic shift from rule-centered formalism to objective-oriented reasoning, positioning maqāṣid al-sharīʿah as a central epistemological foundation for reconstructing inheritance law and legitimizing substantively just outcomes beyond rigid textualism in modern plural legal contexts.
Harnessing Nigeria’s Blue Economy through Islamic Finance: Maqāṣid-Based Framework for Sustainable Development Mijinyawa, Sadiq Ibrahim; Ahsan, Muhamad; Fitrianto, Achmad Room; Sedjati, Mangesti Waluyo; Danmaraya, Mubarak Aliyu
El-Qist: Journal of Islamic Economics and Business (JIEB) Vol. 16 No. 1 (2026): April (on-going)
Publisher : Islamic Economics Department, Faculty of Islamic Economics and Business, Sunan Ampel State Islamic University, Surabaya Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15642/elqist.2026.16.1.127-138

Abstract

Prologue: The blue economy has attracted increasing global attention as a strategic framework for achieving sustainable development, particularly in coastal and marine resource-rich countries. In Nigeria, however, the development of the blue economy remains constrained by weak institutional governance, environmental degradation, limited financial inclusion, and inadequate long-term investment mechanisms. Existing development approaches largely rely on conventional economic models that insufficiently address the ethical, social, and ecological dimensions of marine sustainability. Objective: This study aims to examine how Islamic economic principles can contribute to the development of a more sustainable, inclusive, and ethically grounded blue economy framework in Nigeria. Methods: The study employs a qualitative conceptual approach grounded in an extensive review of scholarly literature, policy documents, and institutional reports on the blue economy, Islamic economics, sustainable finance, and marine governance. An integrated analytical framework is developed, grounded in maqāṣid al-sharīʿah as the normative foundation, supported by Islamic financial and social finance instruments, such as blue sukuk and waqf. Results/Findings: The findings indicate that conventional financing mechanisms alone are insufficient to address the multidimensional challenges of Nigeria’s blue economy. The integration of maqāṣid al-sharīʿah provides an ethical and sustainability-oriented framework that aligns economic development with environmental stewardship and social welfare. Furthermore, blue sukuk has significant potential as a long-term financing instrument for marine infrastructure and environmental projects, while waqf contributes to community-based empowerment, enhanced coastal welfare, and inclusive economic participation. Contribution: This study contributes to the growing discourse on Islamic sustainable finance by proposing an integrated Islamic blue economy framework that combines ethical governance, environmental sustainability, and inclusive development. It also offers policy-relevant insights for governments, Islamic financial institutions, and development agencies seeking alternative financing models for sustainable marine economic transformation in emerging economies.
Tadrīj Method in Hajj Fund Management by Badan Pengelola Keuangan Haji (BPKH) in Indonesia: A Study of Islamic Economic Law Muslim, Moch. Bukhori; Khan, M. Dawud Arif; Saepullah, Saepullah; Hendarsa, Agung Sri; Afif, Ahmad
El-Qist: Journal of Islamic Economics and Business (JIEB) Vol. 16 No. 1 (2026): April (on-going)
Publisher : Islamic Economics Department, Faculty of Islamic Economics and Business, Sunan Ampel State Islamic University, Surabaya Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15642/elqist.2026.16.1.139-161

Abstract

Background: The governance of Hajj funds in Indonesia, administered by the Badan Pengelola Keuangan Haji (BPKH), represents a complex intersection between Islamic legal norms and modern financial management. Although formally regulated under Law No. 34/2014 and reinforced by Majelis Ulama Indonesia (MUI) Fatwa No. 09/Ijtima' Ulama/VIII/2024, practical challenges remain in ensuring that investment decisions and governance mechanisms consistently reflect Sharia principles. This tension highlights the need for an adaptive approach that reconciles normative compliance with institutional and market realities. Objective: This study aims to examine how the Tadrīj approach can be operationalized in Hajj fund management as a strategic framework to strengthen Sharia compliance while maintaining financial performance and institutional stability. Method: The research employs a qualitative descriptive design, using institutional data from BPKH financial management reports and relevant regulatory documents. Data are analyzed through a normative-empirical approach, integrating legal interpretation with contextual evaluation of governance practices. Findings: The study finds that the application of Tadrīj enables a phased and adaptive integration of Maqāṣid al-Sharīʿah into Hajj fund governance. This gradual approach reduces potential conflicts between strict legal compliance and investment efficiency, while reinforcing transparency and accountability as core institutional pillars. In addition, continuous engagement with Sharia scholars and periodic policy evaluation are essential in ensuring that governance practices remain aligned with Islamic legal and ethical standards. Conclusion: Implementing a Tadrīj-based framework enables BPKH to navigate the dynamic demands of modern financial management without compromising Sharia principles. This approach not only safeguards pilgrims' interests but also strengthens public trust in the institution. Implication: This study contributes to the development of Islamic economic governance by positioning Tadrīj as a practical and scalable model for institutional reform in Sharia-based public fund management. Practically, it offers policy-relevant insights for regulators and Islamic financial institutions seeking to balance legal compliance, financial sustainability, and stakeholder trust in complex economic environments.

Page 43 of 43 | Total Record : 428

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