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Al Rikaz : Jurnal Ekonomi Syariah
Published by Institut Agama Islam Negeri Parepare
ISSN : -     EISSN : 29865999     DOI : https://doi.org/10.35905/alrikaz
Core Subject : Economy,
Economics, Econometrics & Finance
Al Rikaz : Jurnal Ekonomi Syariah, published by Study Program of Sharia Economics IAIN Parepare since 2022. The subject covers textual and fieldwork studies with various perspectives of Islamic economics, Islamic public finance, Islamic finance, Islamic accounting, Islamic business ethics, Islamic banking, Islamic insurance, Islamic economic thoughts, Islamic human resource management, Islamic microfinance, Islamic development economics, Islamic monetary economics, Islamic fiscal economics, Islamic capital market, and other relevant themes. With articles written in Indonesian and with the fair procedure of peer-review, Al Rikaz publishing researches and studies pertinent to Islamic finance and economics with various dimensions and approaches.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 45 Documents
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Pengawasan Dewan Pengawas Syariah (DPS): Implementasi dan Efektivitas Dawami, Ajrina; Santiasih, Putri
Al Rikaz: Jurnal Ekonomi Syariah Vol 4 No 1 (2025): Al Rikaz: Jurnal Ekonomi Syariah
Publisher : Program Studi Ekonomi Syariah IAIN Parepare

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35905/rikaz.v4i1.9846

Abstract

Supervision by the Sharia Supervisory Board (DPS) in the Islamic finance industry is crucial to ensure that the implementation and consistency applied in Islamic banks comply with Sharia principles. This importance is underscored by the recent regulation issued by the Financial Services Authority (OJK) aimed at enhancing the supervision role of DPS in Islamic banks. The purpose of this research is to examine and analyze how the supervision conducted by DPS is implemented at Bank DKI KCP Syariah Ciputat. This study employs a qualitative method with case study analysis of previous research and interviews. The results indicate that the role of DPS is vital in the sustainability of bank activities, such as during the issuance of new products and when addressing community issues related to banking. DPS plays a crucial role in supervising various aspects, including products and activities, through fatwas to ensure they do not conflict with prevailing Sharia standards. Furthermore, the role of DPS is essential in Islamic banks for providing advice and guidance. Therefore, it can be concluded that DPS supervision plays a significant role, as it governs a vital aspect, namely controlling the Sharia compliance of a bank's products and activities.
Perbandingan Dinamika Kelembagaan Ekonomi Islam antara Indonesia, Arab Saudi, dan Thailand: Analisis terhadap Perkembangan dan Tantangan di Era Modernisasi Cintya, Putri; Naufal Luthfi Alifa
Al Rikaz: Jurnal Ekonomi Syariah Vol 4 No 1 (2025): Al Rikaz: Jurnal Ekonomi Syariah
Publisher : Program Studi Ekonomi Syariah IAIN Parepare

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35905/rikaz.v4i1.15291

Abstract

This study compares Islamic economic institutions in Indonesia, Saudi Arabia, and Thailand through four focuses: (1) institutional profile, (2) development dynamics, (3) regulatory and literacy challenges, and (4) reflection on Islamic economic growth. Using a comparative qualitative approach through literature review, the study finds that Indonesia leads in digitalization, Saudi Arabia shows institutional maturity aligned with Vision 2030, while Thailand remains in early development. Collaboration among governments, financial institutions, and communities is key to creating an inclusive and sustainable Islamic economic system. Indonesia continues to strengthen its ecosystem through digital innovation. Overall, the study highlights the importance of harmonizing regulation, improving human capital, and enhancing cross-country cooperation to reinforce institutional resilience and advance sustainable Islamic economic development.
Analisis Penerapan Akad Murabahah dalam Pembiayaan Konsumtif di Bank Syariah Hasan, Adnan; Majid, Jamaluddin
Al Rikaz: Jurnal Ekonomi Syariah Vol 4 No 1 (2025): Al Rikaz: Jurnal Ekonomi Syariah
Publisher : Program Studi Ekonomi Syariah IAIN Parepare

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35905/rikaz.v4i1.15343

Abstract

This study aims to analyze the implementation of the murabahah contract in consumer financing at Bank Syariah Indonesia (BSI) by examining its compliance with PSAK 102, transparency of margins, and the determining factors affecting financing performance and risk. Using a qualitative descriptive-analytical approach, the research collected data through in-depth interviews, observations, and document analysis involving financing officers, customers, and members of the Sharia Supervisory Board (DPS). The findings reveal that the implementation of murabahah at BSI generally complies with the formal requirements of PSAK 102; however, a gap remains between administrative compliance (compliance by design) and substantive transparency (compliance by evidence), particularly in documenting cost prices, margins, and disclosure of payment terms. Furthermore, bank-specific factors such as the Financing to Deposit Ratio (FDR), Third Party Funds (DPK), Non-Performing Financing (NPF), and operational efficiency significantly influence the growth and quality of murabahah financing. The study also finds that customers’ perception of fairness in margin determination and the supervisory role of the DPS are critical in fostering public trust and maintaining the stability of the Islamic financial system. The research implies that strengthening evidence-based PSAK 102 implementation, enhancing Islamic corporate governance, and improving Islamic financial literacy are essential to promote transparency, fairness, and sustainability in murabahah-based consumer financing in Indonesia
Nilai Sipakainge dalam Kearifan Lokal Bugis: Strategi Ekonomi Islam untuk Pelestarian Wisata Bahari Parepare Hasmawati; Cahyani, Indah; Natalia, Lisa
Al Rikaz: Jurnal Ekonomi Syariah Vol 4 No 1 (2025): Al Rikaz: Jurnal Ekonomi Syariah
Publisher : Program Studi Ekonomi Syariah IAIN Parepare

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35905/rikaz.v4i1.15344

Abstract

This study aims to analyze the value of Sipakainge in Bugis local wisdom as a strategy for marine tourism conservation in Parepare City through an Islamic economics approach. Sipakainge, which means mutual reminding of goodness and social responsibility, is a moral value that plays a crucial role in maintaining harmony between humans and the environment. The declining cleanliness and conservation in Parepare's marine tourism areas, such as Paputo Beach, Mattirotasi, and Lumpue, indicate the need for a management approach based on cultural and Islamic values. This research employs a qualitative method with observation, interview, and documentation techniques involving coastal communities, tourism managers, and traditional leaders. The findings reveal that the internalization of the Sipakainge value can build collective community awareness in preserving the marine and coastal environment as an implementation of the maslahah (public benefit) principle in Islamic economics. Furthermore, collaboration between the government, community, and tourism businesses based on the Sipakainge value can create sustainable, religious, and socially equitable marine tourism management. Thus, the integration of local wisdom and Islamic economic values forms a strategic foundation for maintaining the sustainability of Parepare's marine tourism while enhancing the welfare of the coastal community.
Pengaruh Promosi Dan Pengetahuan Terhadap Minat Melakukan Transaksi di Bank Syariah Nur Afif Jalaludin; Purwanto, Tinggal; Aswin
Al Rikaz: Jurnal Ekonomi Syariah Vol 4 No 1 (2025): Al Rikaz: Jurnal Ekonomi Syariah
Publisher : Program Studi Ekonomi Syariah IAIN Parepare

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35905/rikaz.v4i1.15531

Abstract

This study aims to determine the influence of promotion and knowledge on the interest of women from recitation groups in Kelapa District to conduct transactions at Islamic Banks. The type of research used is quantitative research with a sample of 161 respondents. With the data measurement technique using the Likert scale. The data was processed through the SPSS program version 25.0 with multiple linear regression analysis techniques. The research results show that: 1) Promotion partially affects the interest in conducting transactions at Islamic Banks with a t-calculated value (7.407) < t-table (1.654) or a significance value of 0.000 < 0.01. 2) Knowledge partially affects the interest in conducting transactions at Islamic Banks with a t-calculated value (3.268) > t-table (1.654) and a significance value of 0.000 < 0.01.
Penerapan Prinsip Syariah dalam Pelayanan Travel Umrah dan Haji: Studi Kasus pada TUNAS TOURS Cabang Probolinggo Firmansyah, Ahmad Farishy; Luayyin , Reza Hilmy
Al Rikaz: Jurnal Ekonomi Syariah Vol. 4 No. 2 (2026): Al Rikaz: Jurnal Ekonomi Syariah
Publisher : Program Studi Ekonomi Syariah IAIN Parepare

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35905/rikaz.v4i2.16992

Abstract

This study aims to analyze the implementation of Islamic principles in the services of a Hajj and Umrah travel agency and their implications for service quality and pilgrims’ trust at Tunas Tours Probolinggo Branch. This research employed a qualitative approach with a case study design. The research subjects consisted of the branch manager, operational staff, and pilgrims selected through purposive sampling. Data were collected through in-depth interviews, observations, and documentation, and were analyzed using the interactive model of Miles and Huberman, which includes data reduction, data display, and conclusion drawing. The results indicate that the implementation of Islamic principles is reflected in the values of trust worthiness (amanah), transparency, and fairness across various aspects of service. The principle of amanah is demonstrated through honesty and responsibility, transparency is shown in the openness of information regarding costs and facilities, while fairness is reflected in equal and non-discriminatory services. However, several challenges were identified, including communication barriers, differences in pilgrims’ understanding, and technical issues in the field. This study concludes that the implementation of Islamic principles has a positive impact on service quality and pilgrims’ trust, thus requiring consistency and continuous improvement in service management.
Implementasi Maqasid Al-Shariah dalam Pengembangan Pasar Uang Syariah untuk Kesejahteraan Global Abd. Hakim
Al Rikaz: Jurnal Ekonomi Syariah Vol. 4 No. 1 (2025): Al Rikaz: Jurnal Ekonomi Syariah
Publisher : Program Studi Ekonomi Syariah IAIN Parepare

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35905/rikaz.v4i1.12695

Abstract

Maqasid Al-Shariah plays a strategic role in enhancing the capacity of the ummah to drive intellectual reform and civilizational renewal. This study aims to explore the significance and application of Maqasid Al-Shariah in the development of the Islamic money market as a financial instrument that supports global well-being. Using a qualitative approach based on literature review, the research evaluates the extent to which the principles of Maqasid Al-Shariah, such as the preservation of faith, life, intellect, lineage, and wealth, are integrated into the structure and operations of the Islamic money market. The analysis also identifies potential gaps between the ideal objectives of Shariah and the actual practices in addressing global socio-economic needs. The findings indicate that while there has been progress in formal Shariah compliance, further efforts are needed to ensure that the Islamic money market not only adheres to legal standards but also upholds ethical values and social objectives of Shariah. This study aims to provide insights for optimizing the Islamic money market as an inclusive mechanism that supports sustainable economic development and global prosperity.
Analisis Kritis terhadap Kesenjangan Hukum dan Praktik Ekonomi Modern : Tinjauan Unsur Maghrib (Maisir, Gharar, dan Riba) Noerismayanti; Zulfahry Abuhasmy; Dian Novianti; Asriadi Arifin
Al Rikaz: Jurnal Ekonomi Syariah Vol. 4 No. 2 (2026): Al Rikaz: Jurnal Ekonomi Syariah
Publisher : Program Studi Ekonomi Syariah IAIN Parepare

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35905/rikaz.v4i2.17030

Abstract

This study aims to analyze the prohibitions in Islamic economic principles, commonly known as MAGHRIB (maisir, gharar, and riba), and their relevance in modern economic practices. The research employs a qualitative approach with a descriptive research design through a library research method. Data were collected from various literature sources, including scientific journals, books, and reports from official institutions relevant to the research topic. The findings indicate that MAGHRIB (maisir, gharar, and riba) constitutes three fundamental concepts in Islamic economics that function to uphold justice, transparency, and economic stability. However, these elements are still widely found in modern economic practices. Riba continues to dominate the global financial system through interest-based mechanisms, gharar appears in digital transactions due to a lack of information transparency, and maisir develops through speculative activities such as trading without proper analysis and online gambling. The prohibition of maisir, gharar, and riba remains highly relevant in addressing the dynamics of the modern economy. Therefore, strengthening literacy, regulatory frameworks, and innovation within the Islamic financial system is essential to create a more equitable, transparent, and sustainable economic system.
Intervensi Negara Dalam Pengawasan Kepatuhan Syariah Pada Perbankan Syariah Berdasarkan Prinsip Keadilan Dan Maslahah Mursalah Amira; Hannani Yunus
Al Rikaz: Jurnal Ekonomi Syariah Vol. 4 No. 2 (2026): Al Rikaz: Jurnal Ekonomi Syariah
Publisher : Program Studi Ekonomi Syariah IAIN Parepare

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35905/rikaz.v4i2.17046

Abstract

This study aims to critically analyze the limitations and implementation of state intervention in Islamic banking operations through the lens of the principles of justice and the concept of maslahah mursalah. The scope of this research specifically focuses on state intervention in the function of Sharia compliance supervision carried out by financial authorities (the Financial Services Authority/OJK and Bank Indonesia) through the integration of religious authority fatwas into positive law. The research employs a qualitative method with a library research approach, examining statutory regulations and literature on Islamic economic law. The findings indicate that state intervention in Sharia compliance supervision constitutes a legitimate manifestation of the tanzhim (regulatory) function aimed at protecting public welfare (al-maslahah al-ammah) and safeguarding the wealth of society (hifz al-mal). An ideal form of intervention should be proportional, whereby the state is obligated to provide legal certainty for Sharia compliance instruments without stifling innovation in Islamic banking products or imposing risk standardization based on conventional and exploitative paradigms
Analisis Fiqh Muamalah Kontemporer Terhadap Mekanisme Qabdh dan Kepastian Hukum dalam Penerapan Smart Contract Pada Akad Murabahah Digital Elma, Zainal Said
Al Rikaz: Jurnal Ekonomi Syariah Vol. 4 No. 2 (2026): Al Rikaz: Jurnal Ekonomi Syariah
Publisher : Program Studi Ekonomi Syariah IAIN Parepare

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35905/rikaz.v4i2.17047

Abstract

This study aims to analyze the validity of the qabdh mechanism and legal certainty in the implementation of smart contracts within digital murabahah contracts from the perspective of contemporary Fiqh Muamalah. As the digitalization of Islamic finance continues to expand rapidly, critical challenges have emerged regarding the validity of contractual pillars due to the rigid and irreversible nature of blockchain-based automation. This normative legal research employs conceptual and statutory approaches. The findings indicate that the transformation of murabahah contracts into self-executing program code is Sharia-compliant, provided that the algorithm ensures a proper sequence of asset ownership (milkiyyah tammah) by the bank before its transfer to the customer, thereby preventing the defect of bai' al-ma'dum (the sale of a non-existent asset). Critically, the study finds that potential system errors or bugs within the program code may introduce elements of gharar (uncertainty). Therefore, ensuring legal certainty for all parties requires operational risk mitigation through digital escrow clauses integrated with positive law. In conclusion, the validity of smart contract-based murabahah depends on the synchronization between the accuracy of binary code execution and the transparency of Sharia principles.

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