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Nur Sandi Marsuni
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ar-ribh@unismuh.ac.id
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Gedung Iqro lantai 8 Jl. Sultan Alauddin No.259, Gn. Sari, Kec. Rappocini, Kota Makassar, Sulawesi Selatan 90221
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INDONESIA
Jurnal Ar-Ribh
Published by Universitas Muhammadiyah Makassar
ISSN : 26847477     EISSN : 27146316     DOI : https://doi.org/10.26618/jei.v4i1
Core Subject : Economy,
Economics, Econometrics & Finance
Ar-Ribh : Jurnal Ekonomi Islam [p-ISSN 2684-7477 |e-ISSN 2714-6316] published by the Islamic Economics Study Program of the Faculty of Economics and Business, Muhammadiyah University of Makassar, this journal publishes research articles in the field of Islamic Economics. This journal publishes research studies that use a variety of qualitative and / or quantitative methods and approaches in the field of Islamic Economics. This journal aims to develop concepts, theories, perspectives, paradigms, and methodologies within the scope of Islamic Economics published twice a year, namely April and October. Ar-Ribh : Jurnal Ekonomi Islam examines and examines sharia.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 7 Documents
 1 
Search results for , issue "Vol. 8 No. 2 (2025): October 2025" : 7 Documents clear
Analysis of Employee Wages in The Perspective of Maslahah (Study of Mangnguluang Laying Hen Farm, Kalumeme Village, Ujung Bulu District, Bulukumba Regency) Mas’ud, Faiqah; Anwar, Nurfiah; Yunus, Ayu Ruqayyah
Jurnal Ar-Ribh Vol. 8 No. 2 (2025): October 2025
Publisher : Universitas Muhammadiyah Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26618/qhzkap22

Abstract

Wage analysis is the process of reviewing or reviewing wage decisions or policies made by business actors to compensate their workers for the services provided. One of the analytical techniques used by ushul scholars to ensure that the laws (istinbat) whose problems are not expressly regulated in the Qur'an and Hadith is the maslahah point of view. This study aims to find out how the employee wage system is and how to review the perspective of the employee wage system in Mangnguluang Cattle, Tabuttu Kel. The type of research used is descriptive research, which describes the state of a thing or event that occurred both in the present and in the past. The information in this study was collected through observation and interviews. In this study, qualitative research techniques. The wage system at the Mangguluang Laying Hen Farm implements unilateral wage giving without a clear agreement between employees and management. In the perspective of maslahah, the practice of wages without an employment contract is not allowed because it is not in accordance with Islamic law. All employees said that the salary or wages they received were not enough to accommodate all the needs of daily life. Employees or employees' families have not been able to access higher education. While still united, single couples are able to save for marriage needs but not after marriage, and the same is true in an effort to have assets.
Navigating the 12% VAT Increase in Indonesia: Challenges and Opportunities for Equity Investors in the Context of Islamic Finance Insirat, Mutahira Nur; Syahfir, Hasri Ainun; Darmawati, Darmawati; Rasyid, Syarifuddin
Jurnal Ar-Ribh Vol. 8 No. 2 (2025): October 2025
Publisher : Universitas Muhammadiyah Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26618/bdb97z47

Abstract

This study examines the economic and investment implications of Indonesia’s Value Added Tax (VAT) increase from 11% to 12%, effective January 1, 2025, within the framework of Islamic finance. The policy, part of a broader fiscal reform, aims to enhance state revenue, promote sustainable development, and strengthen fiscal stability, while applying the higher rate only to luxury goods and services. Using an exploratory qualitative approach, this research analyzes both challenges and opportunities arising for equity investors in the Indonesian capital market. Findings reveal that the VAT increase may reduce consumer purchasing power, particularly affecting consumption-driven sectors such as consumer goods and retail, thereby increasing market volatility and reducing short-term profitability. However, sectors less affected by the policy such as healthcare, technology, and halal finance present diversification opportunities aligned with Shariah principles. From an Islamic finance perspective, taxation is permissible when implemented with fairness (‘adl) and aimed at public welfare (maslahah), ensuring that vulnerable groups remain protected. The study highlights that investors integrating Shariah ethics, risk management, and sustainability considerations can navigate fiscal adjustments more effectively. Overall, the VAT increase, while posing short-term market challenges, may lead to long-term fiscal resilience and responsible investment opportunities under a just and transparent Islamic economic framework.
Good Corporate Governance Optimizing Community Awareness in the Distribution of ZIS Khatimah, Husnul; Idris, Mahsyar; S, Andi Bahri; Semaun, Syahriyah; Suarning, Suarning
Jurnal Ar-Ribh Vol. 8 No. 2 (2025): October 2025
Publisher : Universitas Muhammadiyah Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26618/8be2v698

Abstract

This study examines how the implementation of Good Corporate Governance (GCG) principles enhances community awareness in the distribution of Zakat, Infaq, and Sadaqah (ZIS) through ZIS management literacy at BAZNAS Enrekang Regency, Indonesia. Using a descriptive qualitative approach with a case study design, data were collected through in-depth interviews, observation, and documentation involving BAZNAS administrators, sub-district zakat collection units (UPZ), muzakki (donors), and mustahik (beneficiaries). The results reveal that BAZNAS Enrekang applies GCG principles—transparency, accountability, responsibility, independence, and fairness—in managing ZIS funds. Transparency is realized through regular financial reporting and open access to information, while accountability is ensured by internal and external audits. However, limited community literacy regarding ZIS management reduces understanding and participation in zakat programs. To overcome this, BAZNAS conducts literacy campaigns, simplifies financial information, and involves muzakki in verification and distribution processes. The findings highlight that strengthening GCG-based literacy programs is essential to increase public trust, awareness, and active involvement in ZIS distribution. This study contributes to the literature on Islamic social finance governance by linking corporate governance mechanisms with public literacy and engagement outcomes.
The Influence of Financial Performance on the Stability of Islamic Banks in Indonesia Agustuty, Lasty; Alam, Andi Rifqah Purnama; Afriyani, Afriyani; Yasin, Nurfatwa Andriani; Hariyanti, Hariyanti
Jurnal Ar-Ribh Vol. 8 No. 2 (2025): October 2025
Publisher : Universitas Muhammadiyah Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26618/jncsms57

Abstract

This study investigates the influence of financial performance on the stability of Islamic banks in Indonesia during the 2018–2023 period. The research uses a quantitative approach with panel data regression analysis conducted through EViews software. The sample consists of five Islamic Commercial Banks (BUS) that regularly publish monthly financial statements. Secondary data were obtained from official bank websites and the Financial Services Authority (OJK). The independent variables in this study include the Capital Adequacy Ratio (CAR), Net Operating Margin (NOM), and Net Performing Financing (NPF), while the dependent variable representing bank stability is proxied by the Z-Score of Return on Assets (ROA). The results reveal that CAR and NOM have a positive and significant impact on the stability of Islamic banks, indicating that strong capital adequacy and profitability enhance resilience and financial soundness. In contrast, NPF shows an insignificant effect on bank stability, suggesting that non-performing financing levels during the observed period were manageable and did not critically threaten financial stability. These findings support both signaling theory and financial intermediation theory, emphasizing that improved capital management and operational efficiency can enhance stakeholder confidence and maintain sustainable stability in Islamic banking. The study contributes to Islamic financial literature by providing empirical evidence on the determinants of financial stability, offering valuable insights for regulators and bank managers in developing strategies to strengthen the resilience of Islamic banking institutions in Indonesia.
Village Financial System, Accountability, Transparency, and Sharia Economic Analysis Fatmawati, Fatmawati; Semaun, Syahriyah; Astuti, An Ras Try; Muhammadun, Muzdalifah; Bahri, Andi
Jurnal Ar-Ribh Vol. 8 No. 2 (2025): October 2025
Publisher : Universitas Muhammadiyah Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26618/5knnyg22

Abstract

This research analyzes the Islamic Economic Analysis of Accountability and Transparency of the Village Financial System (SISKEUDES) in Cempa Pinrang District. The purpose of this research is to analyze the implementation of accountability, identify the level of transparency, and conduct an Islamic Economic Analysis of the Village Financial System (SISKEUDES) in Cempa Pinrang District. The research method used is descriptive qualitative. This type of research is field research. This research approach employs a case study approach. The data sources used are primary data in the form of direct interviews with village officials, the community, and secondary data in the form of books, journals, and articles related to the discussed topic. The results of this research show: 1). Overall, Siskeudes has successfully improved various aspects of accountability in village financial management, although it is important to continue monitoring it. This system encourages honesty and legal compliance, makes financial processes more orderly and easier to supervise, and makes the planning and implementation of village programs and policies more transparent with active support from the community and the BPD. 2). The transparency of Village Funds in Cempa Pinrang District is good in providing data. However, the main issue is that the community still has difficulty understanding information that is too technical and not all residents have equal access. Therefore, true transparency means that information must be easy to understand and accessible to everyone, so that accountability in the use of Village Funds can truly be realized3). Siskeudes has reinforced the principles of Islamic economics in village financial management: encouraging honesty (Siddiq) in data, enhancing responsibility (Amanah) through transparency and oversight, and honing the intelligence (Fathonah) of village officials in digital administration. However, the main challenge of Tabligh (information dissemination) is to ensure that transparent data can be easily understood and accessed by all layers of society, so that transparency truly empowers and encourages public participation.
Environmental Accounting in Responding to the Deforestation Crisis in Indonesia : Perspective of Maqashid Shariah and Sustainability Reporting Hidayah, Nur; Latif, Abdul; Alimuddin, Alimuddin
Jurnal Ar-Ribh Vol. 8 No. 2 (2025): October 2025
Publisher : Universitas Muhammadiyah Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26618/xyqvv313

Abstract

This study aims to examine environmental accounting disclosure through the lens of Maqashid Shariah and sustainability reporting, emphasizing the role of spiritual values, ethical intentions, and moral responsibility in corporate accountability particularly in addressing the deforestation crisis. The object of analysis is the 2024 sustainability report of PT Triputra Agro Persada Tbk, Indonesia’s largest palm oil company with a significant deforestation footprint. The findings reveal that although the company presents various narratives of environmental and social commitment, the disclosure remains largely symbolic. It lacks quantitative data, measurable indicators, and verifiable environmental impacts particularly related to carbon emissions, land degradation, and conservation costs. No evidence was found of external environmental audits or written policies to protect indigenous communities, raising concerns over potential greenwashing. From the Maqashid Shariah perspective, especially concerning hifz al-bi’ah (environmental protection) and hifz al-nafs (protection of life), the sustainability report fails to reflect a deep moral and spiritual corporate responsibility. Environmental accounting, in this context, plays a crucial role in translating Islamic values into transparent, accountable, and transformative corporate disclosures. This study highlights the urgent need for more substantive sustainability reporting frameworks that integrate Shariah ethics and ecological accountability, enabling Islamic-based corporations to pursue sustainability not only for regulatory compliance or market legitimacy, but as a form of divine stewardship (amanah ilahiyah).
Meaningful Microenterprise in the Informal Economy: Angkringan As A Culturally Rooted Islamic Socio-Economic Practice in Java, Indonesia fathurrahman, Ayif
Jurnal Ar-Ribh Vol. 8 No. 2 (2025): October 2025
Publisher : Universitas Muhammadiyah Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26618/mf3ycy22

Abstract

This study explores angkringan—a traditional, informal street food enterprise in Java, Indonesia—as a meaningful microenterprise that embodies the principles of Islamic socio-economics within the context of the informal economy. Amid the increasing collapse of formal, globalized retail chains such as KFC in Indonesia, this research seeks to understand how culturally rooted, low-scale enterprises can offer a sustainable and socially embedded economic alternative.Adopting a qualitative-conceptual approach, the study integrates theories from the meaning economy, Islamic socio-economic ethics, and informal economic systems. Data were drawn from secondary sources including academic literature, government reports, and media documentation, as well as light contextual field observations in selected angkringan locations in Yogyakarta. The findings reveal that angkringan functions not only as a microeconomic unit but also as a space of social interaction, mutual care, and ethical trade practices. It fosters affordability, inclusivity, and community cohesion, aligning with key Islamic economic values such as ‘adalah (justice), rahmah (compassion), and kifāyah (sufficiency). Unlike formal fast-food outlets driven by profit maximization, angkringan promotes relational well-being and cultural resilience. The study argues that angkringan represents a bottom-up, value-driven model of Islamic microenterprise that is both culturally meaningful and ethically grounded. This research contributes to the development of a culturally contextualized Islamic socio-economic framework and opens new pathways for integrating local wisdom, ethical values, and community-based development into Islamic economics. It recommends a shift in policy and academic discourse from financing-centric approaches to meaning-centric, socially embedded economic practices.

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