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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 90 Documents
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Panopticism on The Consumption of Halal Products in Indonesian Muslim Society Markets Desika, Pratiwi; Ulinnuha, Roma
Journal of Islamic Economic Laws Vol 6, No 2 July 2023
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v6i2.22313

Abstract

State standardization in realizing the legitimacy of halal products focuses on the rules in Law No. 33 of 2014, which regulate Halal Product Guarantee. The halal label is a sign of the halal statement of a product and a halal guarantee for Muslim consumers in Indonesia. The company’s self-claim on the Halal certification serves as one of the problems besides the issue of habituation. In this vein, Halal certification is designed to control and regulate product halalness in the form of supervision to gain each producer’s acceptance. This article aims to determine the state's role and regulations as a panopticon for producers to register their products to obtain halal certification. The method used in this article is a qualitative approach using library research and the theory panopticon perspective of Michel Foucault to analyze it. The results of this article show that the state and regulations have yet to arrive at the panopticon system in the absence of strong law enforcement. This regulation functions as a monitoring tool for producers by referencing the halal label and its certification printed on the product. The implication of halal certification, a mechanism from internalizing power over every product in circulation to ensure quality and safety in the production process to achieving the status of tested halal, constitutes a more forceful discipline method.
Does Islamic Corporate Governance Moderation The Influence of Sharia Financial Performance Toward Islamic Social Reporting? Wairooy, Fatimah Az-zahra; Haryono, Slamet
Journal of Islamic Economic Laws Vol 6, No 2 July 2023
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v6i2.22358

Abstract

This study examine to retest the influence of Sharia Financial Performance towards Islamic Social Reporting with Islamic Corporate Governance as a moderation variable (empirical study on Indonesia Islamic Commercial Bank from 2016-2021). The hypothesis examine by using MRA regression and panel data regression. The population in this research are all the Islamic Commercial Banks that listed on OJK from 2016-2021. The sampling methods that used in this research is purposive sampling and could manage to obtained 66 sample from 11 Islamic Commercial Banks. The results shows that Return On Assets, Ruturn On Equity, and Financing to Debt Ratio influenced the disclosure did Islamic Social Reporting, whereas Capital Adequacy Ratio, Debt to Equity Ratio, and Investment Account Holder did not influenced the Islamic Social Reporting. Furthermore frequency of board of commissioner could influenced Financing to Debt Ratio, and Investment Account Holder towards deepening of Islamic Social Reporting, frequency of audit committee meeting could be moderating Investment Account Holder towards strengthening Islamic Social Reporting, While the frequency of sharia supervisory board meeting could moderating Financing to Debt Ratio towards Islamic Social Reporting. The findings of this study can be important input for regulators to properly regulate the number of meetings of each board in influencing Islamic Financial Performance as a tool in disclosing their Islamic Social Reporting.
Determinant of Job Satisfaction and Job Performance among Staff of An Islamic Banks Wulandari, Elisa; Adiba, Elfira Maya; Septiana, Nurul Izzati
Journal of Islamic Economic Laws Vol 6, No 2 July 2023
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v6i2.21476

Abstract

Human resources in a company is a valuable asset that needs attention to achieve maximum performance so that company goals are achieved. Satisfied employees will affect their performance. There is still a lack of research on the relationship between internal and external factors and job satisfaction and human resource performance, particularly regarding the current popular topic of work-life balance and what young employees want from their jobs. This study aims to determine the effect of Islamic leadership, Islamic work environment, Islamic work motivation, and work-life balance on employee satisfaction and performance at Islamic banks. This study used a quantitative approach with a sampling, namely simple random sampling. The number of samples in this study was 41 respondents. Data analysis techniques use SEM-PLS using SmartPLS to manage data. The results showed that Islamic leadership variables greatly influence employee job satisfaction, work environment variables, work-life balance, and work motivation have a small influence on job satisfaction. In contrast, job satisfaction variables have a large influence on employee performance. The findings of this study are anticipated to be an assessment of Islamic bank stakeholders' attention to their human resources to maximize job satisfaction and performance and hasten the achievement of the company's objectives. The construction of a supportive Islamic workplace environment and work-life balance are issues that require consideration to promote employee satisfaction and performance.
Identification and Efectiveness of Halal Tourism Laws in Indonesia Susilawati, Cucu
Journal of Islamic Economic Laws Vol 6, No 2 July 2023
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v6i2.22597

Abstract

Indonesia has two crucial points in halal tourism: having a variety of attractive halal tourist destinations and a sizeable Muslim community. However, Indonesia still needs to improve compared to other countries. This study aimed to identify and determine the effectiveness of halal tourism regulations for Muslim communities in Indonesia. This research is normative empirical model in nature where several established rules and regulations are critically reviewed. A simple interview also conducted to support the result. This study found that the main umbrella of regulation was Law number 33/2014 on Halal Product Guarantee and Islamic Guidance of DSN-MUI Fatwa 108/DSNMUI/X/2016 on Toursim Management Based on Islamic Principles. While the latter is not a binding rule, the initial was found to be ineffective altough fulfilled the Rule of Law. In addition to that factor, we also found the ineffectiveness of law enforcement, the lacking facilities and inadequate infrastructure and low public awareness on the regulation. This article suggested that Indonesia should enact a more specific law devised for halal tourism to ensure the accelaration of this fast growing industry.
The Importance of Implementing Environment, Social and Government (ESG) and Maqasid Sharia-Based Islamic Finance in Islamic Bank Agustin, Fitriyana; Muhtadi, Ridan; Sahal, Sakinah
Journal of Islamic Economic Laws Vol 6, No 2 July 2023
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v6i2.21214

Abstract

Environment, Social & Governance (ESG) is a trending topic worldwide that is gaining a lot of traction because of its focus on social and environmental impact, and its relationship to improving financial performance. Likewise, Islamic Finance, being Shariah-compliant, is also another concept that is growing globally. These two concepts share many common values and similarities as they address challenges of social development. However, there are several obstacles and challenges in terms of integrating ESG in financial institutions, because this is a new concept. Financial institutions implement sharia principles with the aim of achieving Maqasid Sharia (i.e., protecting life, religion, mind, lineage and property). Even in the concept of ESG investment, screening of certain business sectors is required. The aim of this research is to optimize the potential to attract more interest from public companies as ESG and Maqasid Syaria strive to fulfill their social goals without compromising their side business operations. The research method uses a type of Systematic Review with a mixed method of literature search which is carried out both in qualitative and quantitative research. It aims to improve the integrity of research findings from 20 journal articles. This research found that Many Islamic banks have started promoting sustainability through their financing and initiatives many years ago which put them ahead in terms of ESG. There are still many obstacles that need to be overcome to get the best results from the integration of ESG and Islamic Finance as well as offering insights into Islamic finance models such as ESG investment from an Islamic perspective, especially with regard to the concepts of Maqasid Sharia and maslaha mursala, so that ESG and Maqasid Sharia can be applied in all institutions, especially Islamic banking.
Muslimah Label or Sharia-Compliant Brand? A Study on Kirei Salon and Spa Muslimah Bekasi Through The Lens of DSN-MUI Fatwa Wibisono, Vina Fithriana; Arief, Suyoto; Rafifah, Fairuz Hasna
Journal of Islamic Economic Laws Vol. 8 No. 02 (2025): July
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v8i02.9860

Abstract

The growing popularity of Muslimah-branded beauty services raises questions about the authenticity of their compliance with Sharia principles. This study aims to critically examine whether Kirei Salon and Spa Muslimah Bekasi, which adopts an Islamic branding strategy, operates in accordance with Fatwa DSN-MUI No.108/DSN-MUI/X/2016 on Guidelines for Organizing Tourism Based on Sharia Principles, particularly in the context of spa, sauna, and massage services. This research method employing a descriptive qualitative approach, data were collected through interviews with the salon owner, staff, and customers, as well as field observations and documentation analysis. The findings indicate that while Kirei Salon and Spa Muslimah effectively maintains female-only service and promotes modesty in branding, several operational practices do not fully align with the DSN-MUI fatwa. Notable discrepancies include the use of uncertified beauty products, the offering of certain non-compliant treatments (e.g., hair colouring, extensions), and the absence of properly segregated prayer facilities. These findings suggest that the Muslimah label functions more as a branding identity rather than reflecting full adherence to Sharia-compliant operational standards. This study contributes to the discourse on Islamic branding by highlighting the gap between religious label usage and actual Sharia compliance in the beauty service sector. It provides a critical lens for both business practitioners and regulators to reevaluate the standards and authenticity of Muslimah-oriented branding.
Initiation of Social Financing for Poverty Alleviation Through Cash Waqf Linked Qurban (CWLQ) in Indonesia Budiantoro, Risanda A.; Mustofa, Ubaedul; Asrori; Jayanto, Prabowo Yudo; Fauzi, Ahmad Syahrul; Runtiningsih, Sri
Journal of Islamic Economic Laws Vol. 8 No. 02 (2025): July
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v8i02.9892

Abstract

Poverty in Indonesia is a serious problem, where the amount of meat consumption is decreasing, and the inequality of meat consumption between the rich and poor groups is increasing every year. The sacrificial worship has great potential to improve the community's economy, including livestock waqf, which can overcome the inequality of meat consumption. This study aims to analyze the initiation of social financing facilities through CWLQ to alleviate poverty in Indonesia. The research method used is panel data analysis by combining data from 34 provinces in Indonesia in the period 2019-2023. The independent variables used are sacrificial production, poverty in the previous period, economic growth, HDI, and the Gini coefficient, while the dependent variable is the poverty rate. The results of the analysis of sacrificial production, poverty in the previous period, economic growth, HDI, and the Gini coefficient will provide insight into the influence of economic and social factors in poverty alleviation efforts. This research is expected to contribute to developing more effective waqf-based policies in Indonesia, especially in supporting the national agenda to reduce poverty. These findings can also be a reference for policymakers and social and financial institutions designing sustainable CWLQ management strategies that positively impact the welfare of the wider community.
Understanding Pilgrim Satisfaction: The Role of Customer Experience and Bonus Pack in Umrah Travel Nugraha, Aa Willy; Ismail, Shafinar
Journal of Islamic Economic Laws Vol. 8 No. 02 (2025): July
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v8i02.9969

Abstract

In the context of increasing demand for religious tourism, understanding the factors that drive satisfaction among Umrah pilgrims is essential. This study examines the impact of customer experience and bonus packs on the satisfaction of Umrah pilgrims in Indonesia. Employing a quantitative approach, data were collected from 120 respondents using a structured questionnaire and analyzed using Structural Equation Modelling with Partial Least Squares (SEM-PLS). The results reveal that both customer experience and bonus pack significantly influence satisfaction, with both factors having a partial and simultaneous impact on satisfaction. Bonus packs—comprising additional services or amenities—emerged as a strong predictor of satisfaction by enhancing perceived value during the pilgrimage journey (path coefficient = 0.376, p < 0.001). Customer experience also demonstrated a significant positive effect (path coefficient = 0.354, p < 0.038), underscoring the importance of service quality and emotional connection throughout the pilgrimage process. Simultaneously, the two constructs explain 51,5% of the variance in satisfaction (R² = 0.515). These findings underscore the strategic importance of integrating meaningful customer experiences with value-added offerings to enhance service satisfaction in Umrah travel services. Travel agencies are advised to invest in enhancing service touchpoints and bundling attractive bonus features to improve customer satisfaction. Limitations of this study include its regional focus on Tasikmalaya, which may limit its broader applicability. Future research is encouraged to include more diverse populations and investigate moderating variables such as religiosity, service innovation, and digital engagement.
Measuring Social Impact of The Minhati Scholarship Program: An SROI-Based Evaluation of ZISWAF Fund Distribution at LAZISWAF UNIDA Gontor Wibisono, Vina Fithriana; Zahro', Khurun'in; Jakiyudin, Ahmad Havid; Rafifah, Fairuz Hasna
Journal of Islamic Economic Laws Vol. 8 No. 02 (2025): July
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v8i02.10269

Abstract

LAZISWAF UNIDA Gontor is a progressive ZISWAF waqf institution that supports education through its flagship program, Minhati, which provides scholarships for underprivileged students. Despite the continuous distribution of ZISWAF funds, there has been no comprehensive measurement of the program’s actual impact on its beneficiaries. This raises a critical issue regarding the effectiveness, transparency, and accountability of ZISWAF fund utilization in achieving social and educational outcomes. This study aims to evaluate the effectiveness of the Minhati program by measuring the social value it creates using the Social Return on Investment (SROI) approach. The research method used is qualitative with the SROI approach to assess the program’s social, economic, and environmental impact. Primary data is sourced from the 2023-2024 annual financial report, and data collection involves questionnaires from 29 scholarship recipients by purposive sampling. The results of this study indicate that the SROI value is 1,67, indicating that every Rp 1 invested generates Rp 1.67 in social impact. This demonstrates that the Minhati program significantly enhances students' welfare, benefits their families, and contributes to social and religious affairs.
Unraveling the Performance of Islamic Banking: An Analysis of Determinant Factors of Islamic Commercial Banks’ Financing 2018 ̶ 2023 Wijayanti, U'ut; Suprayitno, Eko
Journal of Islamic Economic Laws Vol. 8 No. 02 (2025): July
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v8i02.10388

Abstract

The financing distribution by Islamic banks plays a crucial role in driving national economic growth. In its practice, financing is not without risks. Therefore, Islamic banks must manage risk and analyze the factors influencing their financing distribution. The research aims to analyze the influence of the Minimum Statutory Reserve (GWM), Third-Party Funds (DPK), Capital Adequacy Ratio (CAR), Financing to Deposit Ratio (FDR), and Non-Performing Financing (NPF) on the financing distribution of Islamic commercial banks.The research employed a quantitative research method using an explanatory approach. The researcher obtained the secondary data from the bank websites and used the purposive sampling technique. The research population and sample comprised Islamic commercial banks in Indonesia from 2018 to 2023. The analysis was conducted using panel data regression and the E-Views 12 software. The research results indicate that, partially, the DPK and FDR positively and significantly influence the Financing Distribution. In contrast, the CAR significantly and negatively influences Financing Distribution. In addition, the GWM and NPF do not show a significant influence on the Financing Distribution. Simultaneously, the GWM, DPK, CAR, FDR, and NPF significantly influence the Financing Distribution.

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