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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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Murabahah in Contemporary Islamic Banking: An Analysis of the Maudhu’i Hadith in the Indonesian Context Abdullah, Fadli Daud; Fathurrahman, Hamdan; Helmina; Witro, Doli; Saepudin, Dindin
Al-Muamalat: Jurnal Ekonomi Syariah Vol. 12 No. 2 (2025): July
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.v12i2.45451

Abstract

This study aims to examine the practice of Murabahah contracts in Indonesian Islamic banking through a Maudhu’i approach to the hadith of the Prophet Muhammad, as a response to concerns about ethical deviations. Although Murabahah is commonly used as a financing instrument, this study assesses its normative and applicative suitability with the principles of hadith. The method employed is a qualitative descriptive-analytical analysis of 4 main hadiths and 42 supporting hadiths from Imam al-Bukhari, Nasa’i, and other Rawi. The results of the study indicate that the principles of Murabahah, such as price clarity, ownership of goods, and mutual agreement, have a strong foundation in authentic hadith, particularly Bukhari No. 1926 and Nasa’i No. 4571. Three main themes were identified: justice and willingness, the validity of deferred payment (nasi’ah), and the prohibition of gharar and hidden usury. In principle, Murabahah is permissible, but its implementation often violates the valid conditions of the contract. This study emphasises the importance of hadith literacy for industry practitioners and the role of the Sharia Supervisory Board (DPS). The implications are the need for standardisation of digital contracts and harmonisation of bank operations with hadith values to ensure the conformity of Murabahah with the objectives of Sharia law.
Cash Waqf Linked Deposit in Indonesia: A Conceptual and Legal Review Nurhasanah, Elis; Umam, Khotibul; Amri, Andi
Al-Muamalat: Jurnal Ekonomi Syariah Vol. 12 No. 2 (2025): July
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.v12i2.46612

Abstract

This research aims to examine Cash Waqf Linked Deposit (CWLD) within the context of Indonesia’s Islamic finance industry, with a focus on its principles, regulatory framework, and implementation challenges. Although CWLD has recently been introduced as an innovative financial instrument, legal and conceptual studies on the topic remain limited, particularly within the scope of national regulations. This study adopts a qualitative method with a descriptive-analytical approach. Data were obtained from Law No. 41 of 2004 on Waqf, Government Regulation No. 25 of 2018, relevant fatwas issued by the Indonesian Ulema Council, and academic literature. The findings indicate that CWLD integrates cash waqf with sharia-compliant deposit products. The collected waqf funds are placed in deposits, and the returns are allocated to social programs and economic empowerment initiatives. However, CWLD implementation faces several challenges, including the absence of specific regulations and low levels of public awareness. This study concludes that CWLD has significant potential to strengthen the waqf ecosystem and promote Islamic financial inclusion. To optimize its role in socio-economic development, regulatory support, public education, and cross-agency collaboration are essential.
Spiritual Trust in AI Systems: Investigating the Role of Ta‘abbud in Personalized E-Commerce for Generation Z Syahraeni; Syaparuddin; Marzuki, Sitti Nikmah; Hukmiah; Sabbar, Sabbar Dahham
Al-Muamalat: Jurnal Ekonomi Syariah Vol. 12 No. 2 (2025): July
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.v12i2.46646

Abstract

The rapid growth of AI-based e-commerce has yet to integrate spiritual values such as ta‘abbud, essential for Muslim consumers in fostering trust and holistic well-being. This study aims to explore the role of ta‘abbud in AI recommendation systems, enhancing consumer well-being materially and spiritually through increased consumer trust. The research is grounded in four theoretical frameworks: the Technology Acceptance Model (TAM), Consumer Well-Being, Consumer Behavior, and AI Personalization. The study employs Partial Least Squares Structural Equation Modeling (PLS-SEM) to assess relationships between variables. Data were collected via a stratified sampling questionnaire involving 240 Generation Z respondents. The findings reveal that information accessibility significantly influences the shopping experience (R² = 0.743), whereas recommendation quality moderately affects consumer trust (R² = 0.724). Furthermore, AI-based recommendation personalization enhances consumer well-being (R² = 0.635) by improving trust and recommendation relevance (R² = 0.586). Although the effect of ta‘abbud is relatively small, it plays a meaningful role in shaping trust in AI systems, particularly for halal product purchases. This study offers practical implications for Sharia-compliant e-commerce in building consumer loyalty through value-based strategies.
Analysis of Murābaḥah Contract Implementation and Its Impact on Community Economic Empowerment: A Case Study of PT PNM Mekaar Syariah in Dawe, Kudus Janna, Athika Nuuriya; Ningrum, Nurani Puspa; Salim, Muhammad Nur
Al-Muamalat: Jurnal Ekonomi Syariah Vol. 12 No. 2 (2025): July
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.v12i2.49469

Abstract

This study explores the implementation and impact of the murābahah bil wakālah financing scheme at PT PNM Mekaar Syariah Dawe Kudus on community economic empowerment, particularly among underprivileged women. The objective was to assess the effectiveness of this non-collateral financing model, its impact on business growth, and its alignment with sharīʿah principles. A qualitative case study methodology was used, combining interviews, field observations, and surveys. Findings indicate that the murābahah bil wakālah model expanded access to capital and fostered business growth, especially among women in rural communities. However, challenges related to sharīʿah compliance, particularly with the milkiyah (ownership) principle, were identified. Moreover, the program's success was closely tied to consistent mentoring, which declined after 2023, leading to weaker repayment discipline, lower sharīʿah literacy, and stagnation in some businesses. This study highlights that while murābahah financing can empower communities economically, its sustainability requires improved mentoring and enhanced understanding of sharīʿah principles among participants. The research suggests that the effectiveness of microfinance programs can be maximized through ongoing education and institutional support.
Impact of Infrastructure and Entrepreneurial Ecosystems on MSME Growth in Medan: An Islamic Economics Perspective Ridho, Muhammad; Harahap, Isnaini; Nurbaiti
Al-Muamalat: Jurnal Ekonomi Syariah Vol. 12 No. 2 (2025): July
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.v12i2.49667

Abstract

This study investigates the impact of infrastructure development and the entrepreneurial environment on the growth of Micro, Small, and Medium Enterprises (MSMEs) in Medan City, with a focus on integrating Islamic economic principles. Using a quantitative correlational design, the research examines the causal relationships between infrastructure (X1), the entrepreneurial environment (X2), and MSME growth (Y). Data were collected through a structured questionnaire from 100 MSME owners, and analyzed using multiple linear regression. Findings indicate that both infrastructure and the entrepreneurial environment significantly influence MSME growth; however, the entrepreneurial environment emerged as a more dominant factor, with a significant positive effect. Infrastructure development showed a positive but statistically insignificant impact on MSME growth. The study suggests that while physical infrastructure plays a role, a supportive and ethical entrepreneurial environment, grounded in Islamic principles such as justice, fairness, and sustainability, is crucial for fostering sustainable MSME growth. This study also emphasizes the importance of integrating Islamic economic values to create a competitive and equitable business ecosystem in Medan, aligning with the objectives of maqāṣid al-sharīʿah.
Empowerment of Street Vendors by the Nur Ala Nur Grand Mosque in Panyabungan Through the Maqāṣid al-Sharī‘ah Index (MSI) Measurement Suhardina; Rokan, Mustapa Khamal; Syahbudi, Muhammad
Al-Muamalat: Jurnal Ekonomi Syariah Vol. 12 No. 2 (2025): July
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.v12i2.49709

Abstract

This study examines the role of Masjid Agung Nur Ala Nur Panyabungan in empowering surrounding street vendors, using the Maqāṣid al-Sharī‘ah Index (MSI) as an analytical framework. The objectives of the research are to assess the conditions, opportunities, and challenges faced by street vendors in this mosque-based economic model, and to explore how Maqāṣid al-Sharī‘ah principles can inform sustainable empowerment strategies. The study employs a qualitative descriptive design, involving in-depth interviews, participatory observation, and document analysis, with participants including mosque administrators, street vendors, and congregants. The results highlight that while the mosque contributes to local economic activity, the empowerment initiatives remain fragmented, with gaps in structured training, financial management expertise, and collaboration with local stakeholders. The MSI findings show that the dimension of "Upholding Justice" scored highest, reflecting the mosque's role in ensuring fair business practices. However, the "Educating Individuals" dimension was weakest, indicating a need for capacity-building programs. The study concludes that for mosques to realize their full potential as centers of economic empowerment, there must be a more strategic approach, including enhanced training, financial transparency, and partnerships with Islamic microfinance institutions.
Geographical Indications and Maqāṣid al-Sharī‘ah: Realizing Intellectual Property as an Instrument of Economic Justice Saputro, Triyono Adi; Isman; Setiawati, Diana; Alam, Azhar; Febriandika, Nur Rizqi
Al-Muamalat: Jurnal Ekonomi Syariah Vol. 12 No. 2 (2025): July
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.v12i2.51236

Abstract

Intellectual Property (IP) protection in Indonesia remains primarily oriented toward individual and capitalist interests, thereby failing to reflect the values of distributive justice fully. This research aims to analyze Geographical Indications (GIs) as an instrument of economic justice from the perspective of Maqāṣid al-Sharī‘ah. The study employs a normative legal research method, utilizing both conceptual and legislative approaches. Data were gathered through a literature review of primary, secondary, and tertiary legal sources, which were then analyzed qualitatively to examine the relationship between the principles of positive law and the values of Maqāṣid al-Sharī‘ah. The findings indicate that the principles of Maqāṣid al-Sharī‘ah, such as hifz al-mal (protection of property), hifz al-nafs (protection of life), and hifz al-'aql (protection of intellect), provide a strong philosophical foundation for the reconstruction of a just and inclusive IP system. GIs' protection not only provides legal recognition of product origins but also serves as an instrument for the economic empowerment of local communities and the equitable distribution of financial benefits. Incorporating Sharia values into IP policies can broaden the moral, social, and ecological dimensions of a sustainable creative economy. This research recommends reformulating national IP policies by incorporating the principles of Maqāṣid al-Sharī‘ah, strengthening the role of producer communities in GIs governance, and fostering quadruple-helix collaboration among government, academia, industry, and communities. In this way, GIs can serve as an instrument of economic justice and contribute to achieving sustainable development goals.
Questioning State Supervision in Guaranteeing Halal Products in Indonesia Muttaqin, Irsyadul; Dhia Al Uyun; Riana Susmayanti
Al-Muamalat: Jurnal Ekonomi Syariah Vol. 12 No. 2 (2025): July
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.v12i2.51437

Abstract

This article examines the state's responsibility in ensuring the halal status of products in Indonesia by highlighting the weaknesses in the implementation of the Halal Product Assurance Law. The formation of Government Regulation No. 42/2024 has created an illusory authority for the BPJPH and reinforced the fragmentation of authority between the BPJPH and related ministries in the supervision of halal products. As a result, legal uncertainty and the emergence of double standards have weakened BPJPH's role in supervisory implementation. This study uses a doctrinal legal analysis approach to halal product assurance legislation, focusing on text interpretation, identification of ambiguities, and disclosure of normative conflicts between the Halal Product Assurance Law, the Job Creation Law, and Government Regulation No. 42/2024. The analysis shows that institutional fragmentation in the supervision of the Halal Product Assurance has weakened BPJPH's authority. Instead of enforcing adequate supervision, the disharmonious institutional distribution design has created legal uncertainty, sectoral ego, and the risk of abuse of discretion, so that the substantive supervisory function has not been achieved and has legal implications for the state's failure to fulfill the objectives of Sharia law. A comparison with Malaysia shows that the centralization of authority under JAKIM, reinforced by criminal regulations, has resulted in a more integrated and consistent halal supervision system. This article emphasizes the need for institutional reform that affirms BPJPH's centralization as the sole authority and strengthens legal instruments by revising the Halal Product Assurance Law.

Page 23 of 23 | Total Record : 228

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