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Jurnal of Islamic Economic Studies
Published by Yayasan Darussalam Patalassang
ISSN : 30908493     EISSN : 3090871X     DOI : -
Core Subject : Religion, Economy,
Religion Economics, Econometrics & Finance
This journal contains writings of research results or theoretical studies related to economics, finance and Islamic banking. This journal focuses on the publication of research results in the field of Islamic Economic and Finance.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 49 Documents
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Sharia Law and Financial Reporting Practices: An Empirical Study of Selected Business Organizations in Gusau Metropolis, Zamfara State, Nigeria Bamidele, Vincent Olawale
Journal of Islamic Economic Studies Vol. 1 No. 4 (2025): December 2025
Publisher : Yayasan Darussalam Patalassang

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Abstract

This study empirically investigates the effect of Sharia law on financial reporting practices among selected business organizations in Gusau metropolis, Zamfara State, Nigeria. The research addresses a critical gap in the literature by focusing on local, non-banking businesses in a region where Sharia law is formally integrated into the legal and regulatory framework. Using a descriptive survey design, primary data were collected from 120 business organizations through a structured questionnaire, and analyzed using SPSS version 18. The results reveal that Sharia compliance is a significant positive predictor of both the content and structure (B = 0.48, p < 0.001) and the transparency (B = 0.52, p < 0.001) of financial statements. Disclosure practices also significantly enhance financial statement quality (B = 0.32, p = 0.004) and transparency (B = 0.37, p = 0.001), while reporting challenges negatively affect transparency (B = -0.18, p = 0.027). Perceived benefits are positively associated with Sharia compliance in financial reporting (B = 0.41, p = 0.001). The regression models demonstrated good fit, with R² values ranging from 0.27 to 0.54, and all ANOVA results were statistically significant (p < 0.001). The study concludes that robust Sharia compliance and disclosure practices are pivotal for high-quality, transparent financial reporting, but practical challenges remain. It recommends the development of standardized Sharia-compliant reporting guidelines and targeted professional training to further enhance financial transparency and accountability in Zamfara State and similar contexts.
Rekonstruksi Pemikiran Ekonomi Islam tentang Pasar dalam Ekonomi Modern Abadi, Syahrul; Muhammad Yafiz
Journal of Islamic Economic Studies Vol. 1 No. 4 (2025): December 2025
Publisher : Yayasan Darussalam Patalassang

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Islamic economic thought on the market has strong historical roots and distinctive normative values, yet it faces significant challenges within the dynamics of the modern economy characterized by globalization, digitalization, and the dominance of free-market mechanisms. This study is motivated by the gap between Islamic market principles and modern market practices that often generate inequality and injustice. The purpose of this study is to reconstruct Islamic economic thought on the market to ensure its relevance in modern economic development without losing its core values. This research employs a literature analysis method by examining classical and contemporary Islamic economic works alongside relevant modern economic literature. The results indicate that Islamic market concepts emphasize justice, transparency, prohibition of exploitation, and the moral role of market actors, which can be reconstructed through the integration of Islamic ethical values into modern market systems. The implications of this study demonstrate that reconstructing Islamic market thought can contribute theoretically to contemporary Islamic economics and practically offer an alternative framework for developing a just and sustainable market system.
Pemikiran Ekonomi Ibnu Khaldun dan Relevansinya terhadap Pengembangan Ekonomi Modern Arivah, Nurul; Ikbal, Muh.
Journal of Islamic Economic Studies Vol. 1 No. 4 (2025): December 2025
Publisher : Yayasan Darussalam Patalassang

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Abstract

Classical Islamic economic thought has made significant contributions to the development of contemporary Islamic economic theory. One of the key figures in this body of thought is Ibn Khaldun, who, through his work, Muqaddimah, put forward holistic economic concepts, encompassing market mechanisms, the relationship between taxes and productivity, the role of the state, and the dynamics of economic cycles. This article aims to analyze Ibn Khaldun's economic thought and its relevance to the development of a modern economy. The research method used is library research with a qualitative-descriptive approach, through analysis of classical literature and scientific research. The results of the study indicate that Ibn Khaldun's thoughts in the context of Social Justice, Fiscal Balance, and the Role of the State in the Economic System are relevant to the development of a modern economy. The study's findings demonstrate that Ibn Khaldun's thoughts on social justice, fiscal balance, and the role of the state in the economic system are relevant to the development of the modern economy. The study's findings demonstrate that Ibn Khaldun's thoughts are strongly relevant to the principles of modern Islamic economics, particularly in the areas of economic justice, market balance, proportional fiscal policy, and ethics in economic activity. These concepts can serve as a theoretical basis for formulating sustainable Islamic economic policies and practices that are oriented toward the welfare of society. Therefore, Ibn Khaldun's thoughts remain relevant and applicable in addressing the challenges of Islamic economics in the contemporary era.
Konsep Merkantilisme dalam Sejarah Pemikiran Ekonomi dan Realisasinya dalam Perspektif Ekonomi Islam Suriyani; Nurwana
Journal of Islamic Economic Studies Vol. 1 No. 1 (2025): March 2025
Publisher : Yayasan Darussalam Patalassang

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The relevance of mercantilist thinking in the context of modern economics by reviewing the criticisms and alternatives offered by Islamic economics. Mercantilism, as an early economic paradigm that emphasizes the accumulation of national wealth through the hoarding of precious metals and control of trade, is considered to have fundamental weaknesses because it ignores the dimensions of morality, justice, and social welfare. The purpose of this article is to identify how Islamic economic views evaluate the orientation of mercantilism and offer a more balanced economic model. This study uses a qualitative approach by examining theoretical concepts related to Islamic economic principles and critiques of economic structures based on state wealth accumulation. The results of the discussion show that the mercantilist orientation tends to cause inequality and exploitative economic practices, while Islamic economics emphasizes distributive justice, trade ethics, and a balance between material and spiritual interests. This study concludes that Islamic economics provides a more humane and sustainable alternative framework in responding to the structural weaknesses of mercantilism. This research has implications for the development of a contemporary economic model that is capable of combining moral values with economic efficiency, while also serving as a reference for policymakers in formulating a more just and inclusive economic system.
Pemikiran Ekonomi Islam dalam Era Kontemporer: Antara Etika, Keadilan, dan Tantangan Globalisasi Ahmad Fadhil Fayyadh; Nur Anis Aulia; Fauzan Aidul Fitra
Journal of Islamic Economic Studies Vol. 1 No. 4 (2025): December 2025
Publisher : Yayasan Darussalam Patalassang

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Contemporary Islamic economic thought has emerged as an intellectual response to the complexities of the modern global economy, particularly the dominance of capitalism, persistent economic inequality, and ethical deficiencies within prevailing economic systems. This article aims to examine the development and core characteristics of contemporary Islamic economics, its distinction from classical Islamic economic thought, as well as its theoretical implications and future direction within the broader landscape of global economic discourse. Employing a qualitative-descriptive approach through library research, this study analyzes the works of modern Islamic economic thinkers alongside relevant academic literature. The findings indicate that contemporary Islamic economics emphasizes the integration of market mechanisms with Islamic ethical values by positioning maqāṣid al-sharīʿah as a central analytical framework. While differing from classical Islamic economics in terms of context and methodological approach, its ultimate normative objective remains the pursuit of just and holistic human welfare. The study further identifies conceptual and implementation challenges that reflect an ongoing evolutionary process rather than a stagnation of thought. Theoretically, this research reinforces Islamic economics as a value-based economic paradigm, while practically it offers insights for developing more equitable, humane, and sustainable economic policies in the modern era.
Reconstructing the Islamic Green Economy: Ethics, Institutions, and Sustainable Development Syahrizul
Journal of Islamic Economic Studies Vol. 2 No. 1 (2026): March 2026
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This study reconstructs the Islamic Green Economy as an integrative paradigm that connects ethical foundations, institutional dynamics, and sustainable development pathways. The research responds to the limitations of mainstream green economy approaches that tend to emphasize technocratic solutions while marginalizing moral and spiritual dimensions of economic behavior. Using a qualitative descriptive–analytical method, the study critically examines classical and contemporary Islamic economic literature, policy documents, and empirical studies on sustainable Islamic finance. The analysis is conducted through three stages: normative analysis based on maqāṣid al-sharīʿah, institutional analysis of Islamic financial and social institutions, and interpretative synthesis. The findings indicate that sustainability in Islamic economics is intrinsically embedded in its ethical framework, particularly through principles of stewardship (khilāfah), balance (mīzān), justice, and the prohibition of excess (isrāf). Institutionally, the Islamic Green Economy is manifested through innovations such as green sukuk, environmentally oriented waqf, Islamic microfinance, and blended social finance models. These developments signify a shift from formal Shariah compliance toward value-driven and impact-oriented economic practices. The study concludes that the Islamic Green Economy offers a holistic and ethically grounded development paradigm that aligns environmental sustainability with social justice and long-term human well-being, contributing an alternative framework for sustainable development, particularly in Muslim-majority and developing countries.  
Asset Quality, Non-Performing Financing, and Early-Warning Indicators of Operational Stress in Islamic Banking Systems: Evidence from SSA Dallu, Abdallah Mambo; Michael Njoroge Njogo; Fiona Jepkosgei Korir
Journal of Islamic Economic Studies Vol. 2 No. 1 (2026): March 2026
Publisher : Yayasan Darussalam Patalassang

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This study examines whether Non-Peforming Finance (NPF) functions as an early-warning indicator of operational stress in Islamic banks operating in SSA. Departing from conventional efficiency-determinant approaches, the study conceptualises operational efficiency as a diagnostic manifestation of internal stress transmission rather than a measure of managerial performance. The analysis employs a Simar–Wilson two-stage Data Envelopment Analysis framework to generate bias-corrected efficiency scores for a balanced panel of fully fledged Islamic banks over the period 2010–2024, followed by two-way fixed-effects panel regression to assess the early-warning role of lagged NPF. The results show that increases in NPF systematically precede subsequent declines in operational efficiency, indicating that asset quality deterioration is transmitted internally through higher monitoring, restructuring, and Sharīʿah governance costs. The findings further reveal that such asset-quality-induced operational stress is persistent and more pronounced in structurally constrained banking environments. By reframing NPF as a forward-looking supervisory trigger and efficiency as a stress indicator, the study provides novel evidence for regulators and monetary authorities seeking to enhance early-warning frameworks in Islamic banking systems globally today.
Integrating Islamic Business Ethics Into Retail Marketing Strategies: A Case Study Of Sakinahmart Surabaya Hasan, Raditya; Muhammad Alfan Rumasukun; Rusyda Afifah Ahmad; Meichio Lesmana
Journal of Islamic Economic Studies Vol. 2 No. 1 (2026): March 2026
Publisher : Yayasan Darussalam Patalassang

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This research examines the integration of Islamic business ethics into marketing strategies at Sakinahmart, using qualitative research and a case study approach. The 7Ps of marketing mix (product, price, place, promotion, people, process, and physical evidence) are used as an analytical framework to identify the implementation of Islamic business ethics in marketing strategies. Data was obtained through interviews, observations, and documentation, then analyzed using data reduction, data presentation, and conclusion techniques. The results show that Sakinahmart consistently integrates Islamic business ethics values into all of its marketing strategies. The sale of products is guaranteed to be halal with halal certification. Pricing is determined transparently, fairly, and without price monopolies. Product distribution is carried out while maintaining halal compliance and avoiding hoarding. Promotions are conducted honestly, without exaggeration or misleading consumer information. Human resources at Sakinahmart practices ethical behavior and provides fair wages and compensation. Operational processes follow Sharia standards and utilize Sharia financial services. Physical evidence of this integration is reflected in the provision of worship facilities and an Islamic store atmosphere. This integration contributes to increased consumer loyalty and strengthens retail competitiveness in Surabaya.  
Preliminary Needs Assessment and CSR–Zakat Strategy during the Exploration Phase of the Pongkeru Nickel Project for Sustainable and Social Legitimacy Ridwansyah, Muh; Ameen Talib
Journal of Islamic Economic Studies Vol. 2 No. 1 (2026): March 2026
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The mining industry, particularly the nickel sector contributes significantly to Indonesia’s economic development but also generates social and environmental challenges. Corporate social responsibility (CSR) is widely used to address these impacts, yet its effectiveness remains limited when implemented in a reactive manner. This study aims to map the socio-economic needs of communities in the Pongkeru mining area and to formulate a strategic CSR–zakat framework during the exploration phase as a foundation for long-term sustainability and social legitimacy. A descriptive qualitative approach was employed using field observations, semi-structured interviews, focus group discussions, and document analysis. Data were analyzed through thematic analysis and SWOT frameworks to identify structural vulnerabilities and develop a strategic CSR–zakat roadmap. The findings reveal that local communities face structural challenges, including dependence on agriculture and micro-enterprises, limited access to skills development, and exposure to environmental risks. Early-stage CSR interventions grounded in systematic needs assessment and integrated with zakat significantly enhance social, economic, and environmental sustainability. The study confirms that CSR designed during the exploration phase offers a strategic opportunity to prevent social conflict, strengthen community trust, and build long-term partnerships, while conventional CSR alone remains insufficient. The study implies that a hybrid CSR–zakat model aligned with Maqasid al-Shariah provides a comprehensive and accountable governance framework combining workforce development, MSME empowerment, social protection, and environmental stewardship. This framework contributes theoretically to mining CSR literature and offers practical guidance for designing inclusive, preventive, and sustainable CSR strategie.

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