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Journal of Islamic Economics, Management, and Business (JIEMB)
Published by Universitas Islam Negeri Walisongo Semarang
ISSN : 27210197     EISSN : 27210324     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
Journal of Islamic Economics, Management, and Business is a scientific journal in the field of Islamic economics studies published twice a year by the program of Magister of Syariah Economics, Faculty of Islamic Economics and Business UIN Walisongo Semarang. The editors receive articles in the form of research based manuscript related to Islamic Economics, business, and management themes which cover Islamic Economics, Islamic Business, Islamic Financial Management, Islamic Marketing Management, Islamic Human Resource Management, Islamic Operational Management, and Islamic Philanthropy.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 119 Documents
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Analysis of interest theory and profit-sharing in the Islamic financial system Merlinda, Lessiany
Journal of Islamic Economics Management and Business (JIEMB) Vol. 5 No. 1 (2023)
Publisher : Prodi Magister Ekonomi Syariah FEBI UIN Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiemb.2023.5.1.20408

Abstract

This article examines the comparison between interest theory in conventional financial systems and profit-sharing theory in Islamic financial systems by integrating religious and economic perspectives. The purpose of this study is to gain a more comprehensive understanding of the practical and ethical implications of both financial systems and how they can be applied to support fair and sustainable economic development. The methodology used is a literature review with in-depth content analysis related to the concepts of interest and profit-sharing from various religious perspectives, including Islam, Christianity, and Judaism. The results show that interest theory dominates conventional financial systems with its various applications, while profit-sharing theory in Islamic financial systems offers a fairer and more efficient alternative with profit and loss distribution based on the actual contributions of each party. This study provides significant insights into understanding the fundamental differences between interest and profit-sharing and offers recommendations for creating a more inclusive and sustainable financial system. However, this research has limitations in terms of empirical analysis and variations in the implementation of the profit-sharing system that need to be further explored in future studies.
Comparative analysis of monetary functions in Islamic and conventional economic systems Fatmawati, Farida
Journal of Islamic Economics Management and Business (JIEMB) Vol. 5 No. 1 (2023)
Publisher : Prodi Magister Ekonomi Syariah FEBI UIN Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiemb.2023.5.1.20425

Abstract

The article investigates the distinction between the functions and perceptions of money within Islamic and conventional economic systems. The purpose of the study is to elucidate the Islamic principles governing the use of money, highlighting the fundamental differences from conventional views and their implications for modern economies. The methodology employed is a qualitative approach with descriptive-analytical methods, incorporating primary sources from classical Islamic scholars and contemporary experts, as well as secondary data from relevant academic literature. The findings reveal that, unlike in conventional economics where money can be treated as a commodity, Islamic economics defines money strictly as a medium of exchange and a standard of value, not for hoarding or speculative purposes. This research underscores the necessity of adhering to Sharia principles to ensure a just and sustainable economic system. The implications suggest a re-evaluation of modern financial practices to align more closely with Islamic economic teachings, promoting ethical financial behavior and Indonesia.
Strategic development of rural halal tourism using the Business Model Canvas framework: A case study from East Java, Indonesia Ukhrowi, Mukhamad Zahid
Journal of Islamic Economics Management and Business (JIEMB) Vol. 5 No. 2 (2023)
Publisher : Prodi Magister Ekonomi Syariah FEBI UIN Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiemb.2023.5.2.20943

Abstract

This article highlights the significance of villages in local governance, especially their potential in tourism, which can drive economic benefits and community development. The purpose of this research is to analyze the development strategy of Sidomulyo Village towards halal tourism using the Business Model Canvas (BMC) approach. The methodology involves a qualitative field research design with data collected through structured interviews, direct observations, and documentation reviews in Sidomulyo Village, East Java. The findings reveal that Sidomulyo Village has significant potential as a halal tourism destination due to its rich natural resources, cultural heritage, and established tourist attractions such as educational tours, batik houses, and coffee industry tours. The village’s strategic use of BMC elements such as value propositions, customer segments, channels, and key partnerships can enhance its appeal to both local and international tourists. Implications of this study suggest that Sidomulyo Village can achieve sustainable economic growth and community welfare by leveraging strategic planning and cost management, thus positioning itself as a unique halal tourism destination. 
Debt repayment practices among rural farmers: An Islamic economic perspective Jannah, Maulidatul; Rusdiana, Rusdiana; Aisyah, Lisda
Journal of Islamic Economics Management and Business (JIEMB) Vol. 5 No. 2 (2023)
Publisher : Prodi Magister Ekonomi Syariah FEBI UIN Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiemb.2023.5.2.21582

Abstract

This study focuses on the practice of debt repayment with rice in Martadah Village, Tambang Ulang District, Tanah Laut Regency, where the majority of the population are rice farmers. The primary aim of this study is to examine this practice from an Islamic economic perspective. The research employs a qualitative descriptive method involving observations, interviews, and documentation analysis related to the debt repayment practices in the village. The findings reveal that the debt repayment with rice often does not align with the qarḍ principles in Islamic economics, as the price of rice set by lenders is lower than the market price, causing losses to the farmers. The study also identifies the farmers’ dependency on capital owners and local community leaders, creating power dynamics and potential exploitation. Some cases show fairer practices consistent with qarḍ principles, where debt repayment is done at market prices without interest or additional profits. This study provides practical and theoretical contributions by emphasizing the importance of education and the application of Islamic economic principles to ensure fairness and social welfare in rural communities.
Evaluating the impact of fiscal and monetary policies on Indonesia’s macroeconomic stability and growth (2015-2019) Muzayyanah, Muzayyanah; Triyana, Ega; Nawang Aura, Ken Agastya
Journal of Islamic Economics Management and Business (JIEMB) Vol. 5 No. 2 (2023)
Publisher : Prodi Magister Ekonomi Syariah FEBI UIN Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiemb.2023.5.2.21672

Abstract

Effective management of Indonesia’s macroeconomic variables –production, inflation, money supply, aggregate demand, and interest rates– is crucial for economic stability and growth. This study examines the fiscal and monetary policies implemented by the Indonesian government from 2015 to 2019 and assesses their impact on key macroeconomic variables. Utilizing a qualitative research approach and comprehensive literature review, the study analyzes the principles and implementation of these policies. Fiscal policies, including infrastructure development, social protection, and tax amnesty, significantly contributed to economic growth and reduced unemployment. Monetary policies, such as interest rate adjustments, open market operations, and reserve requirements, maintained inflation around 3% and improved liquidity. However, economic growth fluctuated, indicating the need for better policy coordination. The study highlights the importance of strategic fiscal and monetary policies in achieving macroeconomic stability and offers insights into optimizing these tools for addressing economic challenges and promoting long-term development in Indonesia. 
Reconstructing zakat within sharia philanthropy Pertiwi, Hana Pertiwi,; Atika, Atika; Abdillah, Muhammad
Journal of Islamic Economics Management and Business (JIEMB) Vol. 5 No. 2 (2023)
Publisher : Prodi Magister Ekonomi Syariah FEBI UIN Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiemb.2023.5.2.22284

Abstract

The quality of a believer’s faith in Islam is evidenced through their interactions in a social context, with zakat being a critical religious duty that transcends mere ritualistic worship to embody profound social implications. This study explores the reconstruction of zakat within Sharia philanthropy to enhance its effectiveness in alleviating poverty and supporting sustainable welfare. Using a qualitative descriptive approach, the research involves an extensive literature review and data analysis from various sources. Findings indicate that zakat, when managed properly, significantly improves the economic well-being of the ummah, particularly among the poor and the eight designated beneficiaries. The article identifies critical factors facilitating zakat reconstruction, such as legal frameworks, community engagement, and technological advancements. It also highlights the challenges in zakat management, including regulatory issues and inefficiencies in distribution. The implications of reconstructing zakat within Sharia philanthropy include enhanced transparency, efficiency, and impact on social welfare, transforming recipients from passive beneficiaries into active, productive community members. This article contributes to the discourse on Islamic social finance by proposing a structured approach to optimizing zakat practices, thereby aligning them with the aspirations of the Muslim community for equitable economic development. 
Micro waqf bank and its impact on micro-enterprise productivity in Indonesia Vanni, Kartika Marella
Journal of Islamic Economics Management and Business (JIEMB) Vol. 5 No. 2 (2023)
Publisher : Prodi Magister Ekonomi Syariah FEBI UIN Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiemb.2023.5.2.22306

Abstract

This study aims to examine the mechanisms and schemes implemented by micro waqf bank (Bank Wakaf Mikro, BWM) in enhancing the productivity of micro-enterprises in Indonesia. Using a descriptive qualitative methodology with a literature review approach, this research analyzes secondary data from various relevant academic sources. The findings indicate that BWM combines the concept of waqf with microfinance services, which includes the collection of cash waqf funds through Islamic banks, waqf institutions, and digital platforms. Fund management is conducted by nāẓir who invests the funds in sharia-compliant instruments to support BWM operations and microfinance programs. The financing schemes used by BWM include qarḍ al-ḥasan, muḍārabah, mushārakah, and productive waqf. The qarḍ al-ḥasan scheme provides interest-free loans, while the muḍārabah and mushārakah schemes involve partnerships in business management with profit-sharing based on agreed ratios. The productive waqf scheme utilizes waqf assets to generate income used for microfinance. The implementation of these schemes requires collaboration with various parties and innovations in digital technology to enhance efficiency and transparency. Overall, BWM has provided inclusive financial access, improved micro-enterprise capacity, and created a sustainable business ecosystem for micro-enterprises in Indonesia.
Cash Waqf Linked Sukuk: overcoming social disparities in Indonesia Rochaniah, Ana Naila; Faizah, Fita Nurotul
Journal of Islamic Economics Management and Business (JIEMB) Vol. 7 No. 2 (2025)
Publisher : Prodi Magister Ekonomi Syariah FEBI UIN Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiemb.2025.7.2.26286

Abstract

Indonesia faces persistent socioeconomic inequalities in healthcare, education, and economic participation despite its high human development potential, exacerbated by fiscal constraints limiting government-led solutions. This article examines the role of Cash Waqf Linked Sukuk (CWLS) –an innovative Islamic social finance instrument– in addressing these disparities by analyzing its implementation challenges and sectoral impacts. Using a qualitative case study approach with secondary data from government reports, regulatory documents, and national statistics, the research reveals that CWLS has successfully funded healthcare infrastructure (e.g., retina and glaucoma centers), educational scholarships, and agricultural empowerment programs. However, its potential remains underutilized due to low public trust, regional participation imbalances, and misalignment with critical needs such as cancer treatment facilities, rural school infrastructure, and tourism-based economic development. The study contributes to policy and practice by proposing three interventions: (1) targeted CWLS yield distribution to high-impact sectors, (2) enhanced transparency and nazhir (waqf manager) competency, and (3) public awareness campaigns to broaden participation. These findings offer a model for Muslim-majority countries seeking to leverage Islamic finance for equitable development.
Integrating the value of honesty into the analysis of coal prices, exchange rates, and export profitability in Indonesia (2019–2023) Salsabila , Khansa Fairus; Dessy Noor Farida; Amalia, Farah
Journal of Islamic Economics Management and Business (JIEMB) Vol. 7 No. 1 (2025)
Publisher : Prodi Magister Ekonomi Syariah FEBI UIN Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiemb.2025.7.1.26561

Abstract

This study aims to analyze the influence of coal prices and rupiah exchange rates on the profitability of Indonesian coal exports in 2019–2023. Using panel data and quantitative methods, this study makes export profitability as a dependent variable, while coal prices and rupiah exchange rates are independent variables. Data was obtained from official sources such as the Direktorat Jenderal Mineral dan Batubara, the Badan Pusat Statistic (BPS), and the company’s financial statements on the Indonesia Stock Exchange with a population of data, namely the reference coal price listed on the BPS for the 2019-2023 period and the selected sample in the form of data from 8 companies within a period of 5 years. Panel data regression analysis was used to find out how coal prices and exchange rates affect the profitability of coal exports in Indonesia. The results of the study show that coal prices have a positive and significant effect on export profitability, while the rupiah exchange rate does not have a significant impact because the majority of transactions use US dollars. These findings provide insight for policymakers in maintaining the stability of the coal export sector amid global market dynamics.
The influence of fanaticism and financial literacy on consumptive behavior with self-control as a moderating variable: a study on K-pop fans in Salatiga Hanifah, Auliya Itsna; Faqiatul Mariya Waharini
Journal of Islamic Economics Management and Business (JIEMB) Vol. 7 No. 1 (2025)
Publisher : Prodi Magister Ekonomi Syariah FEBI UIN Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiemb.2025.7.1.27105

Abstract

This study investigates the influence of fanaticism and financial literacy on consumptive behavior among K-pop fans in Salatiga, with self-control as a moderating variable. The research was motivated by the growing phenomenon of excessive consumption driven by fandom culture, particularly among youth influenced by K-pop idols. The purpose of the study is to analyze how emotional attachment (fanaticism) and financial awareness (financial literacy) shape individual spending patterns, and to determine whether self-control can mitigate impulsive consumption tendencies. A quantitative approach was applied, involving 100 respondents selected through purposive sampling. Data were collected using structured questionnaires and analyzed with SPSS version 25 through classical assumption tests, t-tests, and Moderated Regression Analysis (MRA). The findings reveal that fanaticism significantly and positively affects consumptive behavior, while financial literacy has a significant negative effect. Furthermore, self-control moderates the relationship between fanaticism and consumptive behavior, indicating that higher self-control can reduce the influence of fanaticism on impulsive spending. However, self-control does not moderate the effect of financial literacy, suggesting that financially literate individuals already exercise sufficient self-regulation in managing expenses. These results highlight the complex interaction between emotional and cognitive factors in shaping consumer behavior. The study contributes to Islamic behavioral economics by emphasizing the importance of moderation and self-control as ethical principles guiding financial responsibility. It also provides practical implications for educators and policymakers in promoting financial literacy and emotional awareness among young consumers.    

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