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Al-Muamalat : Jurnal Ekonomi Syariah
Published by Universitas Islam Negeri Sunan Gunung Djati Bandung
ISSN : 20863225     EISSN : 27160610     DOI : 10.15575/am
Core Subject : Economy, Humanities, Social,
Humanities Economics, Econometrics & Finance Social Sciences
Al-Muamalat: Jurnal Ekonomi Syariah is a journal that focuses on the development of Islamic Economics. The journal comprehensively examines various aspects of current and emerging laws and economics relevant to the field. The journal board welcomes articles from scholars, professionals, researchers, and students as a collective effort toward the advancement of Islamic economics, submitted manuscripts will be published and disseminated. The journal releases new issues twice annually, in January and July. Al-Muamalat: Jurnal Ekonomi Syariah focuses on the main issues in the development of Islamic Economics, covering conceptual ideas and research findings related to the following areas: 1. Islamic Economics Law 2. Islamic Banking and Finance 3. Islamic Business 4. Islamic Law 5. Islamic Marketing 6. Islamic Philanthropy 7. Islamic Human Capital 8. Halal Supply Chain Management 9. Halal Industry 10. Other Topics Related to Islamic Economics
Arjuna Subject : Ilmu Sosial - Ilmu Sosial (Lain-Lain)
Articles 228 Documents
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The Transformation of the Refund Provisions of Tabarru' in Islamic Insurance: Fatwa DSN-MUI No. 53/2006 and No. 81/2011 Fitriansyah, Helmi; Rukmini, Neng Vivie Nurfauziah; Al Hakim, Sofian
Al-Muamalat: Jurnal Ekonomi Syariah Vol 12, No 1 (2025): January (IN PRESS)
Publisher : Department of Sharia Economic Law, Faculty Sharia and Law, UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/am.v12i1.41386

Abstract

This article examines the management of Tabarru' funds in Islamic insurance by analyzing DSN-MUI Fatwa No. 53/2006 and No. 81/2011, which play a crucial role in addressing operational and legal challenges within the Islamic insurance industry. The background of this study focuses on legal uncertainties concerning the status of Tabarru' funds as non-refundable grants, as stipulated in Fatwa No. 53/2006. In contrast, Fatwa No. 81/2011 introduces flexibility by allowing partial refunds for participants who terminate their contracts early, adapting to market needs. The regulatory changes introduced by Fatwa No. 81/2011 permit the partial refund of Tabarru' funds for participants who terminate their contracts before the agreed period concludes. This study employs a normative juridical approach, involving a comprehensive analysis of primary and secondary legal texts, including DSN-MUI fatwas, Islamic legal literature, and case studies on the implementation of these fatwas in the practice of Islamic insurance in Indonesia. Data are collected through library research and analyzed descriptively and comparatively to understand the roles of both fatwas in the management of Tabarru' funds and their implications. The findings indicate that Fatwa No. 81/2011 significantly contributes to the management of Tabarru' funds by introducing flexibility in refunding participants. The fatwas concerning Tabarru' funds in Islamic insurance demonstrate that they complement each other in regulating the concept and management of these funds. The operational implications of this study include recommendations to strengthen regulations and transparency in the management of Tabarru' funds and to enhance the protection of participants' rights.
HIT AND RUN: A Phenomenological Study of Producer Experience in e-Commerce Transactions with the Pre-Order System from a Fiqh Muamalah Perspective Asnita, Dessy; Mudrika, Syarifah
Al-Muamalat: Jurnal Ekonomi Syariah Vol 12, No 1 (2025): January (IN PRESS)
Publisher : Department of Sharia Economic Law, Faculty Sharia and Law, UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/am.v12i1.40958

Abstract

This research was conducted on clothing manufacturers located in Bandung and Bekasi, as well as on one distributor in Medan. The "hit & run" phenomenon in e-Commerce transactions with the Pre-Order (PO) system has a significant impact on the existence of sales and the operational business of manufacturers. In the Pre-Order model, buyers place orders for products but often fail to make payments or disappear after the goods are sewn. This phenomenon results in stock accumulation, disruption of financial flows, and financial losses for manufacturers. The objective of this study is to analyze the impact of the "hit & run" phenomenon on clothing manufacturers and to find solutions to address this issue. The research method used is a qualitative approach with a descriptive phenomenological type. Data was collected through interviews with eight clothing manufacturers experienced in PO transactions, using WhatsApp chats and Zoom Meetings. The research findings show that the "hit & run" phenomenon harms manufacturers and causes uncertainty in their business operations. The implications of this study highlight the importance of developing more cautious policies in accepting orders and implementing effective communication strategies to minimize the risk of losses. This research provides an in-depth understanding of the dynamics of e-Commerce transactions with the PO system and valuable insights for manufacturers in managing risks and improving their business continuity in a competitive market.
Analysis of Qawa’id Fiqhiyyah in the Utilization of Zakat as a Solution to Illegal Online Loans Efendi, Nur; Bisri, Hasan; Yunus, Ayi; Luminaries, Rayan Asa
Al-Muamalat: Jurnal Ekonomi Syariah Vol 12, No 1 (2025): January (IN PRESS)
Publisher : Department of Sharia Economic Law, Faculty Sharia and Law, UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/am.v12i1.40687

Abstract

The phenomenon of online loans has become a pressing societal issue, affecting many individuals struggling with debt repayment, contributing to rising suicide rates. Zakat, as an Islamic social finance instrument, should help mitigate these negative impacts. This article examines the utilization of zakat funds as a solution to the online loan crisis from the perspective of Qawa’id Fiqhiyyah (Islamic legal maxims). Using a normative juridical approach with descriptive analysis, this study explores the application of Qawa’id Fiqhiyyah in utilizing zakat funds to address online loan issues. The findings reveal that zakat can address online loan problems, aligning with the maxim that “harm must be eliminated.” Borrowers often experience harm, such as threats, intimidation, and data breaches when they cannot repay debts. Zakat offers assistance to victims, helping them avoid actions violating Islamic principles, in line with the maxim “hardship brings ease.” However, borrowers must meet the gharim criteria, especially if the loans were used to purchase prohibited items under Islamic law. This study provides a novel perspective on zakat by employing the Qawa’id Fiqhiyyah approach to tackle the issue of online loans in Indonesia. It aims to enrich the literature and broaden the application of Islamic legal maxims in social finance. Additionally, this research can serve as a reference for zakat institutions in designing policies and distribution mechanisms to assist communities affected by online loans.
Development of a Sustainability Model for Muslim SMEs in West Java: An Analysis of the Integration between the Triple Bottom Line and Islamic Economic Principles Sudana, Sudana; Awaludin, Latief; Dermawan, Muhammad Jagat; Samudra, Muhammad Gilang; Andika, Galih Pribadi
Al-Muamalat: Jurnal Ekonomi Syariah Vol 12, No 1 (2025): January (IN PRESS)
Publisher : Department of Sharia Economic Law, Faculty Sharia and Law, UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/am.v12i1.42944

Abstract

This study aims to develop a sustainability model for Muslim Small and Medium Enterprises (SMEs) in West Java by integrating the Triple Bottom Line (TBL) concept with Islamic Economic principles. The TBL approach, which includes financial, social, and environmental aspects, is analyzed to understand its implementation. This study uses a qualitative method with a phenomenological approach. Data were collected through interviews and analyzed using NVivo. The results of the study show that Muslim SMEs in West Java prioritize financial and social aspects, while attention to the environment is still limited. From an Islamic Economic perspective, sustainability is not only seen from the financial and social aspects, but also responsibility towards the environment as a mandate. Other findings show that riba, maysir, and gharar-based financial practices exacerbate financial risks and social relationships. Therefore, the proposed sustainability model integrates all three aspects of TBL with Islamic economic principles. The main contribution of this study is the development of a sustainability model based on Islamic values that offers concrete guidance for Muslim SMEs to integrate TBL principles with sharia in a practical manner. This model provides a framework to reduce dependence on riba-based financing, increase community empowerment, and environmental management according to Islamic principles. Thus, these findings can be implemented by SMEs, policy makers, and supporting institutions to promote holistic and Islamic sustainability.
Bridging Faith and Innovation: A Systematic Literature Review of Islamic FinTech Adoption Patterns and Regulatory Frameworks (2020-2024) Suswanto, Riza Eko; Wahyudi, Ickhsanto; Rahmawati, Rahmawati; Said, Muhammad
Al-Muamalat: Jurnal Ekonomi Syariah Vol 12, No 1 (2025): January (IN PRESS)
Publisher : Department of Sharia Economic Law, Faculty Sharia and Law, UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/am.v12i1.41417

Abstract

This systematic literature review examines the development of Islamic Financial Technology (Islamic FinTech) adoption and its regulatory frameworks across various jurisdictions. Through a comprehensive analysis of recent literature from 2020-2024, this study investigates the key factors influencing Islamic FinTech adoption, regulatory challenges, and market growth opportunities. The review encompasses 28 scholarly articles focusing on Islamic FinTech implementation, adoption factors, and regulatory frameworks. The findings reveal that trust, religious orientation, and technological readiness significantly influence Islamic FinTech adoption. Additionally, the study identifies critical challenges, including Shariah compliance mechanisms, regulatory frameworks, and consumer protection. The novelty of this study lies in its systematic and holistic approach, integrating the analysis of adoption factors, regulatory challenges, and technological innovations within the context of Islamic FinTech. The research emphasizes the importance of developing a comprehensive regulatory framework that balances technological innovation with Shariah compliance, while ensuring consumer protection. This study contributes to the advancement of knowledge on Islamic FinTech by providing practical insights for policymakers, practitioners, and researchers in developing a sustainable Islamic FinTech ecosystem. Furthermore, the study offers concrete recommendations, such as the harmonization of international Shariah standards and the utilization of blockchain technology to enhance transparency, which can be applied in a global context.
Preferences for Capturing Market Share of Halal Products in the 5.0 Era Through the UTAUT-3 Model for MSMEs in Lhokseumawe City Safwan, Safwan; Maulana, Nora; Ismail, Ismail
Al-Muamalat: Jurnal Ekonomi Syariah Vol 12, No 1 (2025): January (IN PRESS)
Publisher : Department of Sharia Economic Law, Faculty Sharia and Law, UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/am.v12i1.40874

Abstract

The purpose of the study was to find a new model in the development of MSMEs and identify a number of important factors that influence the increase in the halal market share of MSMEs through empirical testing of the Unified Theory of Acceptance and Use of Technology (UTAUT-3). The study used a mixed method sequential explanatory technique. The sample was selected using a purposive sampling technique and obtained 70 respondents. Data were collected through questionnaires, interviews, observations and documentation. Quantitative data analysis was carried out using the Partial Least Squares Structural Equation Modeling (PLS-SEM) statistical test. The qualitative analysis was studied using the triangulation technique and continued with the Analytical Network Process (ANP) method. The research findings showed that all independent variables including performance expectations, business expectations, social, facilitating conditions, hedonic motivation, price value, habits, and personal innovation had a significant positive effect on behavioral intentions to use QRIS on MSME actors in Lhokseumawe City. The findings identified that to achieve optimal business rates, more intensive and comprehensive use of digital technology is needed. Through the adoption of QRIS digital technology, strengthening halal branding, product innovation, and increasing competitiveness in order to build partnerships with various stakeholders in creating a halal MSME ecosystem. It is important to have government policies and programs related to development, and creating an ecosystem that supports MSMEs in using technology and promoting halal products in the 5.0 era.
Jasser Auda's Maqāṣid al-Sharī’ah: Transforming Professional Zakat for People's Welfare Huda, M Ikhwanul; Kaamilah, Ummi Fadliyati; El Hijri, Muhammad Faqihuddin
Al-Muamalat: Jurnal Ekonomi Syariah Vol 12, No 1 (2025): January (IN PRESS)
Publisher : Department of Sharia Economic Law, Faculty Sharia and Law, UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/am.v12i1.40952

Abstract

Professions in the current era are very diverse and have a very large income, especially in Indonesia. The Indonesian Ulema Council (MUI) responded to the problem by issuing MUI Fatwa No. 3 Year 2003 on professional zakat. This research aims to discuss the welfare and social justice efforts made by MUI, providing confirmation of the obligation to pay professional zakat. This type of research is normative juridical by using a statute approach. The data used are MUI Fatwa Number 3 Year 2003 and previous studies related to Maqāṣid sharia, then analyzed using Jasser Auda's Maqāṣid al-Shari’ah theory to explore MUI's role in efforts to implement social welfare and justice in the implementation of zakat payments. The results show that Jasser Auda's Maqāṣid theory is relevant to professional zakat in the modern era, which is obligatory due to stable income. In the concept of Wholeness, professional zakat must be paid through an institution or directly to the recipient. Openness equates it with zakat on commerce according to the MUI fatwa, which emphasizes justice. Interrelatedness shows the role of professional zakat in education, while multidimensionality offers flexibility in its empowerment. Purposefulness emphasizes the purpose of zakat in religious and socio-economic aspects.
Review of the Success of Collecting Donations for Palestine through Kitabisa.com Ichsan, Nurul; Gymnastiar, Rakha Mulia
Al-Muamalat: Jurnal Ekonomi Syariah Vol 12, No 1 (2025): January (IN PRESS)
Publisher : Department of Sharia Economic Law, Faculty Sharia and Law, UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/am.v12i1.44059

Abstract

Donating infaq and shodaqoh is something that is recommended in Islam, kitabisa.com provides fundraising services to donate to the campaign for Palestine. This study aims to analyze the factors that influence the success of collecting infaq and shodaqoh donations for Palestine through kitabisa.com. The method used is quantitative with data collection through questionnaires distributed to a sample of 105 people who donated to Palestine at kitabisa.com. Data analysis was carried out using data quality tests and partial least squares (PLS) with the help of SmartPLS3. The dependent variable can be explained by the independent variable by 59.6%, which is classified as moderate. The results showed that religiosity has a significant effect on donation decisions with a P-Value of 0.026. Social influence has no significant effect with a P-Value of 0.696, while project quality has a significant effect on donation decisions with a P-Value of 0.000. These findings suggest that donors are more likely to donate when they feel influenced to have a strong religious awareness and have confidence in the quality of the project.
The Impact of EPS, PER, CR, and ROE on the Sharia Share Prices on the Indonesia Stock Exchange Umardilopa, Jevi Azi; Projo, Nucke Widowati Kusumo
Al-Muamalat: Jurnal Ekonomi Syariah Vol 12, No 1 (2025): January (IN PRESS)
Publisher : Department of Sharia Economic Law, Faculty Sharia and Law, UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/am.v12i1.38183

Abstract

The public's need for Sharia investment is also increasing along with an increase in the number of Muslim populations. From 2019 to 2023, the total number of Sharia stock firms on the Indonesia Stock Exchange (IDX) has consistently remained stable or increased, without any decline. Behind these prospects, Sharia companies show quite volatile stock price movements. Therefore, a financial ratio analysis needs to be carried out. Financial ratios such as Earnings per Share (EPS), Price to Earnings Ratio (PER), Current Ratio (CR), and Return on Equity (ROE) are useful for assessing a company's valuation. Novelty in this paper is the integration of Sharia principles with financial ratios to assess the condition of Sharia companies. This study aims to analyze the effect of EPS, PER, CR, and ROE on the Sharia stock price. The research utilized secondary data from the second trimester of 2023 obtained from the IDX. The research methods are analysis descriptive and inferential analysis using robust regression. This research shows that EPS variable, PER variable, and ROE variable have a positive and significant impact on Sharia share prices, meanwhile CR has no significant effect and has a negative direction on the stock prices of Sharia company. Therefore, investors need to consider the EPS value, PER, and ROE before making investment decisions. This study's findings could be utilized by investment organizations to identify important factors affecting stock prices therefore potential investors may use it as guidance to get optimal profit.
Analysis of Qawa’id Fiqhiyyah in the Utilization of Zakat as a Solution to Illegal Online Loans Efendi, Nur; Bisri, Hasan; Yunus, Ayi; Luminaries, Rayan Asa
Al-Muamalat: Jurnal Ekonomi Syariah Vol. 12 No. 1 (2025): January
Publisher : Department of Sharia Economic Law, Faculty Sharia and Law, UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/am.v12i1.40687

Abstract

The phenomenon of online loans has become a pressing societal issue, affecting many individuals struggling with debt repayment, contributing to rising suicide rates. Zakat, as an Islamic social finance instrument, should help mitigate these negative impacts. This article examines the utilization of zakat funds as a solution to the online loan crisis from the perspective of Qawa’id Fiqhiyyah (Islamic legal maxims). Using a normative juridical approach with descriptive analysis, this study explores the application of Qawa’id Fiqhiyyah in utilizing zakat funds to address online loan issues. The findings reveal that zakat can address online loan problems, aligning with the maxim that “harm must be eliminated.” Borrowers often experience harm, such as threats, intimidation, and data breaches when they cannot repay debts. Zakat offers assistance to victims, helping them avoid actions violating Islamic principles, in line with the maxim “hardship brings ease.” However, borrowers must meet the gharim criteria, especially if the loans were used to purchase prohibited items under Islamic law. This study provides a novel perspective on zakat by employing the Qawa’id Fiqhiyyah approach to tackle the issue of online loans in Indonesia.

Page 11 of 23 | Total Record : 228

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