cover
Contact Name
Soleh Hasan Wahid
Contact Email
wahid@iainponorogo.ac.id
Phone
+6281335727774
Journal Mail Official
invest@iainponorogo.ac.id
Editorial Address
Jl. Puspita Jaya, Krajan, Pintu, Kec. Jenangan, Kabupaten Ponorogo, Jawa Timur 63492
Location
Kab. ponorogo,
Jawa timur
INDONESIA
Invest Journal of Sharia & Economic Law
ISSN : 27764982     EISSN : 27764354     DOI : http://dx.doi.org/10.21154/invest
Invest Journal of Sharia & Economic Law, E-ISSN: published by the Sharia Faculty, IAIN Ponorogo, Indonesia. This journal is published every July and December. The Invest Journal focuses on the results of field studies and literature studies in Islamic economic law, especially the integrative study of Islamic economic law in Southeast Asia. This journal publishes original articles on current international issues and trends regarding Sharia economic law, policy, law, social issues to advance knowledge of the theory and practice of Sharia economic law. The Invest Journal of Sharia & Economic Law specializes in research results either theoretically, a particular approach, or geographically in the fields of: Sharia economic law Sharia business law Sharia banking law Sharia financial institution law Non-bank financial industry Fatwa Islamic economics Islamic law Economic Law Business Law Financial Law
Arjuna Subject : Ilmu Sosial - Hukum
Articles 123 Documents
The Influence of Argument Quality and Information Richness on Trust in Halal Cosmetic Reviews Rahma Haryono, Aufa Aviska; Susilowati, Fitriah Dwi; Mardiana, Lena; Rahmatika, Febrina; Rohmah, Resy Nur
Invest Journal of Sharia & Economic Law Vol. 3 No. 2 (2023)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v3i2.7113

Abstract

In the digital age, halal cosmetic products are becoming increasingly popular. Online reviews play an important role in consumers' purchasing decisions, as they cannot see and check the quality of the products directly, but only through the screens of their gadgets. Under Islamic law, the consumption of halal cosmetics is not only obligatory but also a lifestyle choice. The purpose of this study was to examine the effect of argument quality and information richness on perceptions of information quality and trustworthiness of halal product reviews on the Shopee platform. We utilized a survey design involving 120 participants and applied ANOVA with a regression approach for analysis. Our results show that argument quality and information richness have a positive impact on perceived information quality. Furthermore, perceived information quality positively affects trust in halal product reviews. The results highlight the importance of providing high quality arguments and information in online reviews to increase consumer trust in halal cosmetic products. Furthermore, this study highlights the role of the Shopee platform in shaping consumer perceptions of online reviews, especially in the context of halal cosmetics. Marketers can use these findings to enhance their brand credibility and increase consumer trust through high-quality online product reviews. This study is useful for muslim marketers so that they can increase sales by motivating consumers to provide quality reviews that can be adopted by other consumers.
Budgeting From an Islamic Green Economy Perspective in Local Development Cahyani, Yutisa Tri; Santoso, Lukman; Ma'mun, Sukron
Invest Journal of Sharia & Economic Law Vol. 3 No. 2 (2023)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v3i2.7542

Abstract

Global climate change and environmental problems significantly threaten the Earth's ability to support human needs and well-being. This crisis is exacerbated by increased economic development activities that rely heavily on the exploitation of natural resources. Indonesia, facing similar challenges, requires the implementation of a sustainable and environmentally friendly economic model. This study examines budgeting in the context of local government budget documents and regional development reports, focusing on the integration of green economic principles in the Mataraman region of East Java, Indonesia. Using a qualitative approach, the research examines local government budget and economic development reports from Madiun City and Ponorogo Regency. It involves a comprehensive analysis of both primary and secondary sources related to local development and budgeting. The findings aim to contribute to the promotion and acceleration of green economic development in the region, thereby influencing the allocation of resources to foster an inclusive and prosperous community.
Reflection of Local Wisdom Values behind Accounting Practices in Tumbilotohe Culture Thalib, Mohamad Anwar; Briando, Bobby
Invest Journal of Sharia & Economic Law Vol. 3 No. 2 (2023)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v3i2.7585

Abstract

This study explores the integration of local wisdom into accounting practices in the Tumbilotohe culture, framed within an Islamic paradigm and using an Islamic ethnomethodological approach. Data were collected through structured interviews, passive participant observation, and documentary analysis using a qualitative methodology. These were analyzed through the stages of charity, knowledge, faith, revelation information, and courtesy. The findings reveal that the Tumbilotohe Implementation Committee self-funded its activities through accounting practices that are deeply intertwined with values of sincerity, struggle, and sacrifice that are emblematic of the Gorontalo tribe's cultural and Islamic traditions. Central to these traditions is the vow "batanga pomaya, nyawa podungalo" (the self is devoted, life is at stake), which is part of the "Paduma" - five sacred agreements symbolizing the tribe's commitment to their land, including prioritizing religion, glorifying the land, devoting oneself to the land, sacrificing property, and risking life. The study concludes that accounting practices in the Tumbilotohe cultural celebration transcend mere financial transactions and are significantly influenced by local wisdom and religious values. This reflects the community's commitment to preserving their culture and embodying Paduma principles in organizing and defending their heritage, and provides a nuanced understanding of the role of cultural and religious values in shaping accounting practices in the Gorontalo community.
Fiqh al-Bī'ah and the Concept of Green and Blue Economy for Achieving Sustainable Development in the Context of SDGs Latifah, Eny
Invest Journal of Sharia & Economic Law Vol. 4 No. 1 (2024)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v4i1.7732

Abstract

This study aims to explore existing literature on Fiqh al-Bīʾah's role in the Green and Blue Economy concepts to achieve Sustainable Development, specifically examining implementation, principles, roles, and objectives aligned with Maqāṣid al-Sharīʿah. The literature review identified two primary themes: first, the SDGs' foundational principles within the green and blue economy frameworks, and second, Fiqh al-Bīʾah's viewpoint on these economic models. The findings demonstrate the enactment of green and blue economies through SDGs Principles, incorporating people as principal agents in upholding and executing the green and blue economy to realize SDGs across multiple facets, including environmental, social, economic, and legal governance; Planet, which entails diverse measures to safeguard the earth from degradation in terrestrial, marine, and aerial realms; Prosperity, highlighting efforts towards achieving prosperity through economic, social, and technological initiatives; Peace, emphasizing endeavors towards establishing peace, justice, and an inclusive society free from fear and violence, alongside securing environmental safety; and Partnership, involving collaborative efforts in global development with both government and non-government entities to maintain and conserve the environment. Additionally, Fiqh al-Bīʾah in the Green Economy is characterized by safeguarding the body and soul, aligning worldly and afterlife goals, ensuring balanced production and consumption, preserving ecosystem equilibrium, upholding the dignity of all beings, and humans fulfilling their stewardship on earth. The Blue Economy includes Zero Waste, ecosystem protection, promoting environmental cleanliness and friendliness, resource utilization efficiency, and encouraging social inclusiveness and employment creation.
Diagnosing Qur’ānic Precepts on Wealth Creation in Digital Age Okanlawon, Sidiq Uthman; Zagoon-Sayeed, Haruna; Salisu, Taiwo Moshood
Invest Journal of Sharia & Economic Law Vol. 4 No. 1 (2024)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v4i1.8422

Abstract

This study examines how Islamic economic principles can provide guidance for ethical wealth creation, protection, and distribution in the rapidly evolving digital economy, particularly in the face of cybercrime and financial scams. The research investigates the adaptability of Islamic teachings to digital economic activities, emphasizing the importance of lawful enterprise and social responsibility. The study employs qualitative analysis of Qur’ānic precepts, Hadiths, and contemporary Islamic scholarship. The findings reveal that Islamic wealth management principles are not only compatible with but also vital for navigating the complexities of the digital age. These principles advocate for ethical earning, robust protection of wealth through cybersecurity measures, and the socially responsible distribution of wealth. The study emphasizes the necessity for precise legal frameworks that align with Islamic ethical standards in digital commerce, alongside a strong emphasis on education regarding digital economic activities within an Islamic framework. Engaging in the digital economy under Islamic guidelines is feasible and advantageous, highlighting the critical role of international cooperation among Muslim countries to combat cybercrime and ensure a secure, equitable digital economic environment. This approach fosters economic resilience and social welfare in accordance with Islamic values.
The Natural Cooperatives in The Muslim World: Traditional Entrepreneurial Communities Javaid, Omar
Invest Journal of Sharia & Economic Law Vol. 4 No. 2 (2024)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v4i2.8471

Abstract

This study investigates the structure and socioeconomic roles of traditional entrepreneurial communities in the Muslim world by comparing them with modern cooperative models. Unlike Western cooperatives, which emerged to counter market-induced social disintegration, Muslim communities have sustained themselves through kinship networks, shared values, and voluntary socioeconomic justice. These communities exhibit key characteristics aligned with cooperative aims, including family-business integration, mutual financial support, job creation, and community well-being. However, contemporary research on these communities is limited and often outdated, in contrast to extensive studies on ethnic entrepreneurship in non-Muslim contexts. This study advocates for more exploratory research to understand how Muslim entrepreneurial communities maintain social integration, distributive justice, and Islamic values in their socioeconomic frameworks. It proposes research questions on community organization, economic contributions, welfare mechanisms, and modernization impacts, offering a roadmap for future research to inform policies and community development. By examining the resilience and adaptability of these communities, this study aims to enhance the understanding of Islamic socioeconomic models and their contemporary relevance. These findings highlight the distinctive features of these communities as naturally occurring cooperatives, reflecting their unique cultural, religious, and social contexts. This research advances theoretical discussions in Islamic economics, economic sociology, and cooperative studies, while offering insights into fostering economic inclusivity and social cohesion in diverse settings.
Legal Awareness and Practical Approaches to Halalan Thayyiban Compliance: Insights from Street Food Vendors in Ponorogo, Indonesia Rahmatika, Sania Dina; Bashori, Yudhi Achmad
Invest Journal of Sharia & Economic Law Vol. 4 No. 2 (2024)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v4i2.8978

Abstract

This study analyzes the understanding and implementation of the halalan thayyiban principle by street vendors in Ponorogo, Indonesia from a legal awareness perspective. Despite its importance in Islamic teaching, initial observations show that many vendors have not fully implemented this standard. Using an empirical law-based qualitative method, data were obtained through interviews, documentation, and observation and then analyzed inductively. The results revealed two categories of understanding: traders who understand halal in terms of substance, method of acquisition, and processing, and traders who equate thayyib with halal. Their strategies to maintain halalan thayyiban include maintaining cleanliness and using ingredients that are believed to be halal, but many have not met formal guidelines such as halal certification. Legal awareness is still low, although legal behaviors such as maintaining cleanliness have been implemented. This study highlights the need for government socialization and education to support traders in understanding and applying the principles of the halalan thayyiban. This research contributes to the development of halal policies in the informal sector and to understanding the role of legal awareness in micro businesses in Indonesia.
Normativity of Consumer Protection in the Perspective of Maqāṣid al-Sharīʿah: An Analysis of the Effectiveness of Laws Related to Personal Data Protection in WhatsApp Application Users Mailiena, Cristine; Tanzilulloh, M Ilham
Invest Journal of Sharia & Economic Law Vol. 4 No. 1 (2024)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v4i1.9004

Abstract

Personal data security is the right of every person to protect their personal data confidentially. This research discusses regulations for consumer protection, personal data protection, and their implementation from the perspective of the Maqāṣid al-Sharīʿah. The aim of this research is to determine the extent to which laws related to consumer data protection have been implemented to prevent leaks in the personal data of WhatsApp application users. This study used a qualitative approach with normative empirical research methods. Normative research examines Law No. 8 of 1999 concerning Consumer Protection and Law No. 27 of 2022 concerning Personal Data Protection, while empirical research examines the implementation of these regulations. Researchers draw the conclusion that regulations related to the protection of consumers' personal data and their implementation fall within the concept of Maqāṣid al-Sharīʿah, especially the basic principle of maintaining one's honor (ḥifẓ al-ʿirḍ) because these regulations were made to protect one's privacy.
Are Sharia-Labeled Hotels Truly Sharia? Challenges In Implementing DSN-MUI Fatwa No. 108/DSN-MUI/X/2016: A Case Study from Pacitan, Indonesia Dina, Arima Nur Rahma; Munfaridah, Imroatul
Invest Journal of Sharia & Economic Law Vol. 4 No. 2 (2024)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v4i2.9151

Abstract

The implementation of Sharia principles in the hospitality industry is crucial to meet the growing demand for halal tourism. This study examines the extent to which a Sharia-labelled hotel in Pacitan, Indonesia, applies the guidelines outlined in the DSN-MUI Fatwa No. 108/DSN-MUI/X/2016, focusing on the product, service, and management aspects. Through a qualitative field research approach involving in-depth interviews, participatory observation, and documentation analysis, the study reveals significant gaps between the hotel's Sharia-compliant branding and its actual practices. Notable deficiencies were found in the provision of prayer facilities, cleanliness standards, halal certifications for food and beverages, and adherence to Islamic financial principles. The absence of standard operating procedures to regulate guest behavior and ensure staff compliance with Sharia dress codes further highlights the challenges in aligning operations with Islamic guidelines. These findings underscore the need for a multifaceted approach to address discrepancies, including prioritizing the establishment of essential facilities, comprehensive staff training, and the development of clear operational procedures. At the policy level, this study emphasizes the importance of government support through financial incentives, capacity-building programs, and stricter enforcement mechanisms to ensure consistency and transparency in the use of Sharia-compliant labels. By bridging the gap between branding and practice, Sharia-compliant hotels can enhance their credibility and contribute to sustainable growth of halal tourism in Indonesia.
With a Little Help from my Friends: Mining the Logic behind Israel-Jordan-UAE Water for Electricity Deal Munin, Nellie
Invest Journal of Sharia & Economic Law Vol. 4 No. 2 (2024)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v4i2.9857

Abstract

In November 2021, Israel, Jordan, and the United Arab Emirates (UAE) began evaluating the feasibility of an agreement under which Israel would supply Jordan with desalinated drinking water and Jordan would provide Israel with electricity generated by solar systems located in Jordan and built by a UAE company. Since both water and electricity can be produced independently””Jordan can desalinate its own water, and Israel can generate electricity from solar power””the article questions the rationale behind this project. It concludes that the agreement’s foundation, both in terms of engineering and legal structure, is heavily rooted in political and psychological theories of trust building. If successful, this initiative could pave the way for broader regional cooperation and normalization.

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