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Contact Name
Ahmad Tibrizi Soni Wicaksono
Contact Email
tibrizisony@uin-malang.ac.id
Phone
+6281287874466
Journal Mail Official
m-iecjournal@uin-malang.ac.id
Editorial Address
Megawati Soekarnoputri Building Faculty of Economics Jln. Gajayana 50 Telp (0341) 558881 E-mail: m-iecjournal@uin-malang.ac.id Universitas Islam Negeri Maulana Malik Ibrahim Malang
Location
Kota malang,
Jawa timur
INDONESIA
Maliki Islamic Economics Journal
ISSN : 27980383     EISSN : 27978125     DOI : 10.18860
Maliki Islamic Economics Journal (M-IEC Journal) is presented to promote Islamic economics and finance knowledge to the world. Its establishment is aimed at being a scholarly journal with an international reputation. It is intended as a credible place for academicians and researchers across the globe to disseminate their works, studies, papers, and other research formats. M-IEC Journal is in open-access format, allowing readers to access and download the articles freely. It is published by the Faculty of Economics, UIN Maulana Malik Ibrahim Malang, Indonesia
Articles 75 Documents
Sharia-Based Financing Eligibility Assessment for Muslim Business Actors in the Micro and Small Enterprises (MSEs) Mawahib, Abul; Syariati, Alim; Muchlis, Mustakim
Maliki Islamic Economics Journal Vol 5, No 2 (2025): Maliki Islamic Economics Journal
Publisher : Faculty of Economics UIN Maulana Malik Ibrahim Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/miec.v5i2.35448

Abstract

This study examines the relationship between Islamic personality, Sharia financial literacy, and the moderating role of Islamic appraisal on financing eligibility assessment in the Micro and Small Enterprises (MSEs) sector. Research data was collected by distributing questionnaires to Muslim business owners in Makassar City. The research sample consisted of 220 respondents using a purposive sampling method. The data analysis method employed the Structural Equation Model–Partial Least Squares (SEM-PLS) approach using SmartPLS 4.0 as the data analysis tool. The results indicate that Islamic personality and Sharia financial literacy have a positive and significant effect on financing eligibility assessment. Islamic appraisal has a positive but insignificant effect on financing eligibility assessment. Furthermore, Islamic appraisal has a positive and significant moderating effect on the influence of Islamic personality, but not on the influence of Sharia financial literacy, on the assessment of financing eligibility. This research makes a theoretical contribution to the development of the literature by investigating the influence of Islamic personality aspects, Sharia financial literacy, and Islamic appraisal on Islamic financing assessment for Muslim entrepreneurs in the MSEs. The implication is the need for synergy between entrepreneurs and Islamic financial institutions in building trust in partnership relationships.
Exploration of Imam Al-Ghazali’s Islamic Economic Thought: A Systematic Literature Review Febriza, Milla; Rozalinda, Rozalinda; Meirison, Meirison
Maliki Islamic Economics Journal Vol 5, No 2 (2025): Maliki Islamic Economics Journal
Publisher : Faculty of Economics UIN Maulana Malik Ibrahim Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/miec.v5i2.33361

Abstract

This study explores and synthesises the economic thought of Imam Al-Ghazali through a Systematic Literature Review (SLR) using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) model. A qualitative SLR design was employed, drawing on articles published between 2015 and 2025, collected using the Publish or Perish software. The PRISMA framework guided the data screening and analysis, which is illustrated in a flow diagram. Out of 135 documents initially identified, 30 articles met the eligibility criteria and were included in the review. The results indicate that Al-Ghazali's economic thought is centred on several key themes: justice in economic activities, the intrinsic value of money, ethical consumption and production, and the importance of fair market mechanisms. In addition, Al-Ghazali emphasised the balance between the material and spiritual aspects of economic life and highlighted the state's role in promoting welfare and social justice. These ideas demonstrate enduring relevance for contemporary economic challenges, particularly in encouraging ethical practices and benefit-oriented systems. The findings are expected to provide a conceptual foundation for the development of Islamic economics rooted in moral and spiritual values.
The Pulse of Value: Early Warning Systems and Financial Health as Crucial Determinants for Sharia Insurance Firms Atoillah, M; Oktaviana, Ulfi Kartika; Hasibuan, Razali Ade Syahputra
Maliki Islamic Economics Journal Vol 5, No 2 (2025): Maliki Islamic Economics Journal
Publisher : Faculty of Economics UIN Maulana Malik Ibrahim Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/miec.v5i2.37856

Abstract

This study aims to examine the effect of the Early Warning System (EWS), solvency, and profitability on the value of Islamic insurance companies listed on the Indonesia Stock Exchange (IDX) during the period 2020–2024. This study employs an associative quantitative method within a positivistic paradigm, using panel data from six companies, totalling 120 observations. The analysis was conducted using the Fixed-Effects Model (FEM) in EViews 12. The results show that liquidity, claim expenses, Risk-Based Capital (RBC), and Return on Assets (ROA) have a significant effect on company value, whereas changes in surplus do not. The simultaneous test (F-test) indicates that all variables collectively affect company value, with an Adjusted R² of 0.517. This study highlights that implementing an effective EWS is a strategic, prudential tool for improving transparency, risk management, and sharia-compliant financial sustainability.
Maqashid Sharia as a Pillar of Inclusive Development: Moderation in Economic Growth Towards Poverty Mardianto, Dedi; Khaerullah, Jawziyah; Ulvah, Samihah; Karmila, Karmila
Maliki Islamic Economics Journal Vol 5, No 2 (2025): Maliki Islamic Economics Journal
Publisher : Faculty of Economics UIN Maulana Malik Ibrahim Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/miec.v5i2.37557

Abstract

This study examines the moderating role of Maqashid Sharia in the relationship between economic growth and poverty in selected OIC countries in Asia. It focuses on three dimensions: education (Hifz al-‘Aql), health (Hifz al-Nafs), and distributive justice (Hifz al-Mal). The sample includes Bangladesh, Indonesia, Pakistan, and Uzbekistan over the period 2014–2023. Panel data were analyzed using the Random Effect Model. The findings reveal that economic growth has a negative but statistically insignificant effect on poverty, indicating that growth has not been sufficiently inclusive. Although higher growth is associated with declining poverty, the magnitude of the effect is weak and unevenly distributed among low-income groups. Education, health, and distributive justice significantly reduce poverty directly. However, these variables do not significantly strengthen the impact of growth on poverty reduction. This reflects the limited relevance of education to labor market demands, the predominantly long-term effects of health improvements, and short-term efficiency–equity trade-offs in redistribution policies. The study underscores the need to promote inclusive growth through labor-oriented education reform, strengthened health services, and optimization of zakat and waqf instruments. Limitations include the small country sample, restricted Maqashid dimensions, and limited institutional coverage.
Beyond Profitability: Do Sharia and Financial Performance Drive Islamic Bank Value? Fatika, Alisha Dwi; Pimada, Laila Masruro
Maliki Islamic Economics Journal Vol 5, No 2 (2025): Maliki Islamic Economics Journal
Publisher : Faculty of Economics UIN Maulana Malik Ibrahim Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/miec.v5i2.36751

Abstract

This study aims to examine the effect of financial performance and the Maqashid Sharia Index (MSI) on firm value in Indonesia’s Islamic Commercial Banks (BUS). Financial performance is measured using the Capital Adequacy Ratio (CAR), Financing to Deposit Ratio (FDR), Return on Asset (ROA), and Non-Performing Financing (NPF) based on the Capital, Assets, Management, Earnings, and Liquidity (CAMEL) framework. At the same time, firm value is proxied by Economic Value Added (EVA). The study employs panel data from 10 BUS over the 2018–2022 period and applies panel regression analysis. The results indicate that ROA has a significant positive effect on firm value, whereas CAR and FDR have significant negative effects. NPF and MSI show negative but insignificant influences on firm value. These findings suggest that profitability remains the primary determinant of value creation, while Sharia-based performance has not yet contributed significantly to financial value enhancement. The study implies that Islamic banks should prioritise profitability and prudent liquidity management to strengthen firm value. This research is limited by its five-year observation period and the availability of secondary data from 10 banks.