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 125 Documents
Penggunaan Teknologi Dan Potensi Penerapan Internet Of Things (IoT) Dalam Pengembangan UMKM: Studi Kasus Resto Ayam Buldak Wijaya, Buana Handa; Asyiqin, Akbar Dzukha; Damanuri, Aji
Invest Journal of Sharia & Economic Law Vol. 2 No. 1 (2022)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v2i1.4672

Abstract

Technology can be a facilitator in dealing with the problem of limiting social mobility. Product marketing as one of the main activities of a business unit can be done online using technology. In this journal, discussions will be conducted on the use of technology and the internet of things as facilitators in developing the Resto Ayam Buldak business unit as an innovation strategy. The business unit model began in January 2020, when the community had social restrictions due to Covid-19. The business unit of Resto Ayam Buldak is included in the category of Micro Enterprises based on the regulation of the Indonesian Law No.20 of 2008. Research in this journal is carried out by qualitative methods using substructural interview techniques to extract data and information. Based on the research results, it is known that technology supported the development of Resto Ayam Buldak during the Covid-19 pandemic. Various product information can be known through digital media, including websites, google business, grab food, food, and superfood. The collaboration of various digital technologies encourages the development of the company's image among consumers and the expansion of product marketing coverage areas. In its business process, the restaurant also uses the cashier application as an Enterprise architecture that helps make it easier for owners to control financial transactions in the business unit. The potential application of the Internet of Things IoT in controlling the production house of Resto Ayam Buldak can be made through the concept of smart production. However, the use of the Internet of Things (IoT) is still not applied in the business activities of Resto Ayam Buldak, which belongs to the Criteria for Micro Enterprises. This problem requires large investment capital to develop smart production in the business unit. The role of the government is needed in supporting technology-based creative economy activities carried out by UMKM.
The Relevance of Ibn Khaldun’s Economic Thought on The Prices Mechanism in The Modern Economy Nisak, Khoirun
Invest Journal of Sharia & Economic Law Vol. 2 No. 2 (2022)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v2i2.5092

Abstract

Ibn Khaldun is known as one of the Muslim scholars who made significant contributions to the social sciences, including economics. Ibn Khaldun developed his thoughts on the price mechanism in the market by looking at the condition of Andalusian society at that time. This study aims to discover Ibn Khaldun's thoughts regarding the price mechanism, both from the supply and demand sides, and whether these thoughts remain relevant to today's economic phenomena. The results of the analysis show that naturally,  the price in the market is formed due to the process of attraction between demand and supply. This research found that people's tastes are a factor that shifts the demand curve.   Meanwhile, product scarcity and production costs shift the supply curve. Ibn Khaldun's thought aligns with modern economic theory and remains relevant to present economic phenomena.
Maqāshid Sharia-Based Zakat Distribution Model: Zakat Distribution Program in National Zakat Agency DKI Jakarta Mahmudah, Siti Nur; Aziz Alwa, Moh Abdul
Invest Journal of Sharia & Economic Law Vol. 2 No. 2 (2022)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v2i2.5101

Abstract

Based on Law Number 23 of 2011 concerning Zakat Management, which strengthens BAZNAS as an institution authorized to manage Zakat responsible for supervising zakat management based on Islamic law, mandate, benefit, justice, legal certainty, integration, and accountability, the purpose of this article is to explain how BAZNAS distributes Zakat in DKI Jakarta. The research method involves literature, including websites, books from the National Amil Zakat Agency, and articles on the studied topics. The National Amil Zakat Agency (BAZNAS) distributes economic empowerment, economic programs, and educational programs from the point of view of dharuriyat (faith, soul, descent, reason, and wealth), hajiyyat, and tahsiniyat (BAZNAS). Regarding Maqāshid Sharia, this paper concludes that the "Jak B Be Taqwa" program, the "Jak B Cerdas" program, the "Jak B Sehat" program, the "Jak B Hijau" program, and the "Jak B Berdaya" program implemented from 2019 to 2022 are a form of implementation of the Maqāshid Sharia -based zakat distribution model by BAZNAS in DKI Jakarta.
KONSEP INFLASI : PERBANDINGAN PEMIKIRAN IBNU KHALDUN DAN AL MAQRIZI SERTA IMPLIKASINYA DI INDONESIA Alwa, Moh. Abdul Aziz; Wahyudi, Amin
Invest Journal of Sharia & Economic Law Vol. 2 No. 2 (2022)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v2i2.5099

Abstract

Inflation is a problem in the economic system that has occurred repeatedly from the beginning of the development of human civilization. Since people started using money to trade goods and services, inflation has remained constant. On the other hand, the inflation rate is also used as a macroeconomic analysis of a country/region, such as economic growth, external balance, and income distribution. Conditions of high inflation, if not handled thoughtfully and appropriately, will cause economic depression. However, in the Islamic world, there are scholars, namely, Ibn Khaldun and Al-Maqrizi. These two Muslim thinkers provide an overview of the phenomenon of inflation since the 14th century AD. This research seeks to find the slices of Ibn Khaldun and Al-Maqrizi's thoughts about the causes of inflation and to offer solutions to the phenomenon of inflation that occurs. We chose the literature study research to explore the thoughts of Ibn Khaldun and Al-Marqizi in classic books and several primary sources that discuss the thoughts of the two and compare them with the concept and conditions of inflation in Indonesia through the official websites of BPS and Bank Indonesia. The study found that a country's weak administrative system and corrupt mentality cause inflation. To overcome inflation, improving the two causes of inflation above is the solution offered by these two experts.
The Influence of Halal Knowledge and Labeling on Food Product Purchase Decisions Febrilyantri, Candra
Invest Journal of Sharia & Economic Law Vol. 2 No. 2 (2022)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v2i2.3946

Abstract

The food and beverage industry is currently more concerned about the manufacture and procurement of halal food products because the level of public knowledge is increasing with social media and is supported by data on the development of Muslims worldwide. For Muslims, the essential thing to do when buying products is halalness. This study examines the level of knowledge and halal labeling on purchase decisions of food products for IAIN Ponorogo students. The number of samples in this study was 100 people, with multiple linear regression analysis methods and using the SPSS for Windows v25. Based on the result of the SPSS test, the result was: (i) Based on the simulation test, knowledge variables and halal labeling affected food purchasing decisions. (ii) Based on a partial test, the knowledge variable does not affect food purchasing decisions, but the halal labeling variable affects food purchasing decisions.
Implementation of The MSME Empowerment Program Supervision System at The Infaq Management Foundation Syamsiyah, Syamsiyah; Choiri, Muttaqin
Invest Journal of Sharia & Economic Law Vol. 2 No. 2 (2022)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v2i2.5139

Abstract

Zakat holds a very strategic position regarding religious, social, economic, and social welfare aspects. In terms of community welfare, three pillars must be optimized, one of which is the empowerment of zakat potential. To optimize zakat management, the government must perform a practical regulatory and supervisory function, which BAZNAS does at all levels. The potential of ZIS funds contributes to the expansion of MSMEs as a driver of economic growth. MSMEs require not only capital but also business advice. In Indonesia, zakat management institutions have funds that can be used for business capital or productive Zakat. However, numerous cases in Indonesia involve the mismanagement of productive zakat funds, one of which is the philanthropic organization Aksi Cepat Tanggap (ACT), which has recently come under scrutiny for cases of misappropriation of people's funds. The purpose of this research is to determine how the monitoring system for the UMKM empowerment program at the Infaq Management Institute (LMI) in Bangkalan Regency complies with Law No. 23 of 2011 on Zakat Management. As a result, it is necessary to investigate how the monitoring system for the MSME empowerment program is implemented at the LMI Bangkalan Branch. This study used a qualitative data collection approach, employing interviews, observation, and documentation studies. According to the findings of this study, the supervision of LMI Bangkalan takes the form of an annual report on the performance of LAZNAS LMI activities in the form of a Financial Audit. Supervision is carried out internally at the Bangkalan Branch LMI by holding weekly and monthly evaluation meetings in each field and external supervision from the East Java Central LMI and the Central BAZNAS.
Legal Framework To Support Islamic Banking and Finance In The United Arab Emirates Mohamed Mashal, Mahmoud Ismaeil
Invest Journal of Sharia & Economic Law Vol. 2 No. 2 (2022)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v2i2.5341

Abstract

The duality of the banking system in the United Arab Emirates and its impact on economic development today represents the reality of banking systems in countries that license Islamic banking, especially with the state's first taking into account the traditional banking system. In contrast, banks, institutions, ministries, and organizations that manage work in this field practice these systems have been enabled in Muslim countries under the pressure of economic globalization. At the same time, the country is striving to develop the field of Islamic economy, support Islamic banking while enabling modern technologies and intelligent applications in the digital age, and encourage innovation in Islamic banking and finance. This trend calls for further research and deep consideration to clarify the role of the United Arab Emirates in supporting the Islamic economy and its banking and Islamic finance, as the idea of the duality of the banking system may seem contradictory in its application. As a result of this research, the Government of Dubai has started a strategic plan to develop the Islamic economy sector. The goal is to make Dubai the leading center for Islamic finance, e-commerce, the digital content industry, design and innovation, knowledge, education, and research, as well as the global reference for Islamic economy standards. The  UAE government has adopted blockchain technology to implement government transactions and to achieve the desired results; the country launched the UAE Blockchain Strategy 2021m. The characteristics of the Islamic banking system reflect the reality of Sharia rulings without living and manipulation. However, the current situation has many observations, so coexistence has become at the expense of differentiation.
The Influence of Plafond, Tenor, Application Process, and Loan Frequency on The Growth of Bank Syariah Indonesia's MSMEs Customers Viantina, Anisa Lia; Purbowisanti, Ratih; Ady Rahmanto, Dhidhin Noer; Ilmiah, Dunyati; Febriyanti, Novi
Invest Journal of Sharia & Economic Law Vol. 2 No. 2 (2022)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v2i2.5405

Abstract

Micro, Small, and Medium Enterprises (MSMEs) are essential to economic growth. However, the growth of MSMEs is constrained by difficulties in accessing capital. This study aims to determine the effect of the variable amount of financing (plafond), the application process, the repayment period (tenor), and the frequency of borrowing on the growth of MSMEs. This study uses a quantitative method with a sample of 80 respondents from Bank Syariah Indonesia branch office Sleman Prambanan customers. The sample selection used a purposive sampling technique with the criteria that Bank Syariah Indonesia branch office Sleman Prambanan customers were SMEs in the Yogyakarta and Klaten areas and used financing products such as BSI KUR Micro, BSI KUR Kecil, and BSI Super Micro. The analytical technique used is the classical assumption test, multiple linear regression analysis, t-test, F test, and the coefficient of determination with the help of SPSS software. The results show that the amount of financing (plafond) and the repayment period (tenor) have a positive effect. In contrast, the application process and the borrowing frequency do not positively affect the growth of MSMEs.
An Islamic Ethnomethodology Approach to Examine Mosque Accounting Practices Thalib, Mohamad Anwar
Invest Journal of Sharia & Economic Law Vol. 3 No. 1 (2023)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v3i1.5511

Abstract

This study utilizes an Islamic paradigm with an Islamic ethnomethodology approach to investigate mosque accounting practices. The study uses both primary data, obtained through interviews and observations, and secondary data, which consists of documentation of mosque financial information records in books and on information boards. The data is analyzed through five stages: charity, knowledge, faith, revelation information, and good deeds, and collected through interviews, observation, and documentation. The study results show that mosque accounting practices are based on three main values: sincerity, responsibility, and trustworthiness. First, capital and cost accounting are practiced based on sincerity, which is reflected through the voluntary donations of funds by donors for the prosperity of the masjid, and the optimal work of administrators who do not receive a salary. Second, a simple accounting recording method is used, requiring a sense of responsibility, which is reflected through detailed financial records in album booklets and on bulletin boards. Third, accountability for incoming and outgoing funds is conditional on maintaining the congregation's trust, which is reflected in the expressions of the informants who stated that financial responsibility is their effort to maintain donors' trust. The implication of this research is to present the concept of mosque accounting practices based on the values of faith and fear of God. It concludes that mosque accounting is not only about material (money) but also about a sense of faith in the creator. Further research can study mosque accounting using other social theoretical approaches, such as Islamic phenomenology.
Electricity Consumption and Economic Growth: Evidence From Nigeria Mohammed, Badamasi Sani
Invest Journal of Sharia & Economic Law Vol. 3 No. 1 (2023)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v3i1.5949

Abstract

As one of the significant components of energy consumption, the importance of electricity to economic growth has been recognized by economists and business people, engineering, and government agencies. This paper seeks to investigate the impact of electricity consumption on economic growth in Nigeria from 1986 to 2021 by using the Autoregressive Distributed Lag (ARDL) model. The properties of the series were first checked using Augmented Dickey fuller (ADF) and Phillip Peron (PP) unit root tests, and the result found a mixture of the order of integration, which paved the use ARDL model. The findings of the ARDL bond test indicate the present cointegration. Evidence from the short run reveals that the speed of adjustment is negative and statically significant, confirming the expected equilibrium process in the short-run dynamics among the variables under study. The results also show that energy consumption, inflation, and industrial product are statistically significant and positively affect Nigeria's short and long-run economic growth. At the same time, Unemployment is negative and statistically significant both in the short and long run. Based on the findings, the paper recommends that government should undertake serious measures to curtail the shortage of electricity consumption in the country to promote economic growth in general. The government should adopt appropriate policies to reduce Unemployment, adversely affecting economic growth.

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