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Azhar Alam
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Journal of Islamic Economic Laws
Published by Universitas Muhammadiyah Surakarta
ISSN : 26559609     EISSN : 26559617     DOI : https://doi.org/10.23917/jisel
Core Subject : Religion, Economy, Humanities, Social,
Religion Humanities Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences
Journal of Islamic Economic Laws (JISEL) is published by the Department of Islamic Economic Laws, Faculty of Islamic Studies, Universitas Muhammadiyah Surakarta. The journal provides a platform for scholarly research that bridges theoretical perspectives and practical developments in the field of Islamic economic laws. JISEL welcomes contributions from diverse disciplines, encouraging academic dialogue among researchers, scholars, and practitioners who are engaged in the study of Islamic economics, law, finance, business, philanthropy, and halal-related sectors. The journal is committed to advancing interdisciplinary knowledge and promoting the development of Islamic economic thought in contemporary contexts. Published online using the Open Journal Systems (OJS), JISEL ensures broad and easy access to its content for researchers and readers worldwide. The journal has been nationally accredited by the Ministry of Research, Technology, and Higher Education of the Republic of Indonesia and is indexed in DOAJ and other reputable scholarly databases.
Arjuna Subject : Ilmu Sosial - Ilmu Sosial (Lain-Lain)
Articles 7 Documents
 1 
Search results for , issue "Vol 6, No 1: January 2023" : 7 Documents clear
Revitalization of Istihsan Bi Al 'Urfi in Sharia Financing: Fatwa Study 2010-2018 Mukri, Syarifah Gustiawati; Harisah, H; Shapiulayevna, Aliyeva Patimat
Journal of Islamic Economic Laws Vol 6, No 1: January 2023
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v6i1.17436

Abstract

The community's need for sharia financing transactions is very urgent. So Islamic law products are required to be able to provide guidelines for community economic transactions as a form of response to community needs. From this, this study examines how the concept of istihsan bi al 'urfi was revitalized in one fatwa from 49 fatwas set by the DSN-MUI during the 2010-2018 period as evidence for legal determination. Therefore, istihsan bi al 'urfi is a form of ijtihad scholars in establishing law. The research method used is a qualitative research method with a literature approach, namely by observing the use of the determination method with istihsan bi al 'urfi. The results of the study stated that there was 13 times the use of istihsan bi al 'urfi in determining the permissibility of financing based on sharia as a legal consideration. Although previously it was equipped with arguments from the Qur'an and hadith as well as ijma' and qiyas. This shows that DSN-MUI ijtihad always develops according to the demands of the times to develop Islamic legal products in the field of Islamic finance and economics without losing the basic values of sharia.
Best Practice Halal Integrity Management In The Logistic Chain Scheme: Analysis Of Opportunities And Challenges Rizki, Darlin; Hamzah, Moh.; Fakhiroh, Zakiyatul; Hendri, Darwin
Journal of Islamic Economic Laws Vol 6, No 1: January 2023
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v6i1.19867

Abstract

Nowadays, consumers are increasingly aware and concerned about halal status, and activities in the supply chain are truly halal guaranteed for them to buy. This article aims to explore the development of halal logistics, analyze the opportunity and challenge factors in its development stage, and create a best practice scheme to realize halal integrity. This research method uses a Systematic Literature Review (SLR) using secondary data from several previous studies discussing halal logistics and halal integrity in the supply chain. From this study, it is known that countries in Southeast Asia have shown a positive response to the existence of a halal logistics scheme as an innovation in the supply chain. Several opportunities known for the development of halal logistics mainly lie in the high demand for halal products, the positive growth of the sharia economy, the use of information technology, and the strengthening of the halal ecosystem. Meanwhile, regarding challenges, there needs to be a special regulation regulating halal logistics, common stakeholder knowledge about halal, a need for more experts and researchers, and the absence of a particular infrastructure that handles halal products. In the end, the author develops a halal integrity scheme in the supply chain with a logistics management approach. This article can better understand halal integrity in the supply chain. Further research can empirically test the relationship between logistics management and halal integrity.
The Embodiment of Corporate Social Responsibility in Sharia Enterprise Theory Saadah, Naili; Zakiy, Faris Shalahuddin; Agriyanto, Ratno
Journal of Islamic Economic Laws Vol 6, No 1: January 2023
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v6i1.21134

Abstract

The issue of disclosure of social responsibility by entities is a theme that has always been debated. This is none other than because the implementation of social responsibility disclosures carried out by companies to date still shows a real impact. It is only natural that stakeholders still question its reality. Answering the doubts of these stakeholders, the company's social responsibility began to become a concern. As proof of the accountability activities that have been carried out, this research is here to explore corporate social responsibility accountability based on the Shariah Enterprise Theory (SET) index. Using the research objects of in Indonesia, this research examines the annual reports published by 8 Sharia commercial banks in Indonesia as a source of data. With descriptive qualitative methods through conten analysis as an analysis knife to answer the formulation of the problem, namely how the level of disclosure of social responsibility that has been carried out using the Shariah Enterprise Theory (SET) index. The results of the study proved that 8 in vertical accountability to Allah showed that it was in accordance with the components and criteria that had been set in the Shariah Enterprise Theory (SET) index, while accountability to customers, accountability to employees and accountability to nature as a whole in reporting did not fully meet the components Shariah Enterprise Theory (SET) index. Especially in accountability to nature, it is still far from the component of Shariah Enterprise Theory (SET) index.
How Zakat Affects Economic Growth In Three Islamic Countries Ashfahany, Afief El; Hidayah, Awalul Dini Nur; Hakim, Lukmanul; Noh, Mohd Shahid Bin Mohd
Journal of Islamic Economic Laws Vol 6, No 1: January 2023
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v6i1.21242

Abstract

Zakat as a pillar of development in Islamic economics contributed to the economic development applied in all Caliphate in the Islamic history. By then, this study aims to analyze the effect of zakah on economic growth of three Muslim countries. This study uses a regression estimate of panel data designed to determine the impact of zakat on economic growth with a sample of three Islamic countries in 2003-2020. The results of this study indicate that zakat distribution and population growth have a positive and significant effect on economic growth in three Islamic countries, namely Indonesia, Malaysia and Singapore in 2003-2020. Thus, it can create evidence that zakat can affect economic growth, especially in Islamic countries. This research also supports that zakat should be included in fiscal instrument in today’s world, not only tax. Based on the results of the research above, the student recommend that zakat be included in fiscal policy as is the case with taxes.
The Influence and Contribution of Macroeconomics to The Indonesian Sharia Stock Index for The Period 2011-2021 Mulyadi, Sandi; Wibowo, Muhammad Ghafur
Journal of Islamic Economic Laws Vol 6, No 1: January 2023
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v6i1.21073

Abstract

This study aims to determine the impact of macroeconomic variables on the Indonesian Sharia Stock Index (ISSI). The macroeconomic variables used are Industrial Production Index (IPI), Indonesian Sharia Bank Certificate (ISBC), Money Supply (MS), Exchange Rates (ER), Interest Rates (IR), and inflation. The observed data is in the form of monthly data for the period 2011 to 2021. The method used is to test the impact and contribution of VECM. The test results with the VECM model found that in the short term, all variables had no effect on the Indonesian Sharia Stock Index, whereas, in the long term, IPI, ISBC, and inflation had a negative effect, and MS, ER, and IR had a positive effect, based on the IRF test showed that ISSI responding to fluctuations from all positive macroeconomic variables except inflation which responded negatively and the contribution of each macroeconomic variable was IPI (0.64), ISBC (2.01), MS (0.45), ER (0.64), IR (0.01), and inflation (1.16) against the Indonesian Sharia Stock Index.
Creative Accounting: Viewed from Risk and Sharia Compliance Perspective Noor, Muhammad; Sopian, S
Journal of Islamic Economic Laws Vol 6, No 1: January 2023
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v6i1.21164

Abstract

A company with a corporate form resulting from the industrial revolution raises a principal and agent relationship. The separation between the company's owner and the people who run the company makes accounting needs more crucial. However, accounting, a solution for communication between owners and management, is often exploited by managers through creative accounting, also known as earnings management. This study aims to determine the effect of firm risk, tax risk, and sharia compliance on earnings management. The research was conducted on manufacturing sector companies listed on Indonesia Stock Exchange (IDX) in 2016-2019. Using the purposive sampling method, the number of samples used is 69 companies, with 276 observations. The hypothesis examination used in this research is the multiple linear regression analysis of pooled data. The result shows that firm risk from the perspective of debtholders has a positive effect on earnings management. On the other hand, firm risk from equity holders' perspective, tax risk, and sharia compliance has no effect on earnings management.
Determinants of Muzakki Decision-Making to Pay Zakat in Baitulmaal Muamalat DKI Jakarta Yunizar, Y; Danel, Ola
Journal of Islamic Economic Laws Vol 6, No 1: January 2023
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v6i1.21184

Abstract

Zakat is part of the five pillars of Islam, which is legally obligatory to do when one's property has touched the nishab and haul. Zakat has considerable potential to overcome economic problems, especially poverty. DKI Jakarta is the sixth largest city in Indonesia, with a majority Muslim population. So DKI Jakarta also has considerable zakat potential. However, there is a difference between the potential amount of zakat receipts in DKI Jakarta and the realization of zakat fund collection. This research aims to see the effect of religiosity, income, transparency, and service quality on the decisionmaking of muzakki to pay zakat in Baitulmaal Muamalat (a case study in DKI Jakarta). This research is the descriptive quantitative approach with multiple linear analysis methods. The sampling technique chosen in this research is probability sampling, Simple random sampling. The sample from this study amounted to 217 muzakki in DKI Jakarta, who distributed their zakat in Baitulmaal Muamalat. The analysis results show how the variables of religiosity, income, transparency, and service quality partially or simultaneously impact the decision-making of muzakki to pay zakat through baitulmaal muamalat in DKI Jakarta.

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