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MUKHTASAB: Journal of Economics and Islamic Business
Published by Yayasan An-Nur Meunara Baro
ISSN : -     EISSN : 31108644     DOI : -
Core Subject : Religion, Economy, Social,
Religion Economics, Econometrics & Finance Social Sciences
MUKHTASAB: Journal of Economics and Islamic Business is a peer-reviewed and open-access academic journal that focuses on publishing high-quality research in the areas of Islamic economics, finance, and business. This journal aims to provide a platform for the exchange of ideas, findings, and innovations related to the integration of economic thought and Islamic values in contemporary economic practices. Welcomes original research papers, theoretical discussions, and applied studies that explore various dimensions of Islamic economic systems, business ethics, entrepreneurship, financial management, halal industry, and sharia-compliant economic models. The journal seeks to contribute to the intellectual development of scholars, researchers, policymakers, and practitioners who are concerned with the growth of Islamic economic discourse at both national and international levels. All manuscripts submitted to MUKHTASAB undergo a rigorous double-blind peer-review process to maintain academic quality and integrity. The journal is committed to encouraging interdisciplinary perspectives that combine conventional economic analysis with Islamic principles and contemporary business insights. Articles may be written in Indonesian or English.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 10 Documents
 1 
INOVASI WAKAF PRODUKTIF SEBAGAI PILAR KEMANDIRIAN EKONOMI UMAT Syauky, Ahmad; Mukhtari, Al
Mukhtasab: Journal of Economics and Islamic Business Vol. 1 No. 1 (2025): MUKHTASAB: Journal of Economics and Islamic Business
Publisher : Yayasan An-Nur Meunara Baro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65802/mukhtasab.v1i1.73

Abstract

Productive waqf is one of the key instruments in the Islamic economic system with great potential to achieve the economic independence of the Muslim community. This study aims to analyze the role of productive waqf innovation in building the pillars of Islamic economic empowerment through paradigm transformation, digital technology application, and the development of Sharia-based business models. Using a descriptive qualitative approach, data were collected from literature reviews, institutional reports, and previous related studies. The results show that technological innovation, such as Islamic financial technology (fintech) and digital waqf platforms, significantly enhances transparency, efficiency, and public participation in waqf management. Moreover, the integration of waqf with social investment and Islamic social enterprise provides new opportunities to generate sustainable economic value. Productive waqf serves not only as an act of worship but also as a fair wealth redistribution mechanism and a means of empowering the community’s economy. Therefore, the success of productive waqf management depends on professional governance, adaptive regulations, and strong collaboration among governments, Islamic financial institutions, and society. This study concludes that productive waqf holds strategic potential in realizing economic independence and collective welfare for the Muslim ummah in the modern era.
SPIRITUAL ENTREPRENEURSHIP: MENEMUKAN KEMBALI ETOS BISNIS NABI DALAM EKONOMI MODERN Zaki, Muhammad
Mukhtasab: Journal of Economics and Islamic Business Vol. 1 No. 1 (2025): MUKHTASAB: Journal of Economics and Islamic Business
Publisher : Yayasan An-Nur Meunara Baro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65802/mukhtasab.v1i1.74

Abstract

The phenomenon of ethical crisis and dehumanization in the global economy calls for a new paradigm that balances material and spiritual dimensions. This article aims to revisit the concept of spiritual entrepreneurship by exploring the business ethics of Prophet Muhammad SAW as the foundation of modern Islamic economic morality. Using a qualitative library research approach, this study analyzes the relevance of Prophetic values such as honesty, trustworthiness, justice, and social responsibility within contemporary business contexts. The findings reveal that spiritual entrepreneurship is not merely a normative ethical framework but also a strategic management system that enhances trust, loyalty, and business sustainability. The integration between spirituality and professionalism establishes an entrepreneurial paradigm that perceives business as a form of worship rather than a mere economic pursuit. Moreover, spiritual values prove to be an effective solution to the moral crisis and social inequality generated by modern capitalism. By emulating the business ethos of the Prophet, Muslim entrepreneurs can create harmony between economic achievement and humanitarian responsibility. Thus, spiritual entrepreneurship serves as a vital foundation for developing an inclusive, just, and sustainable Islamic economy in the era of globalization.
DARI AMANAH KE KEUNGGULAN: TRANSFORMASI NILAI ISLAM DALAM KEPEMIMPINAN BISNIS MODERN Maulana Rahman, Dimas; Zianda Alfarizzaki, Muhammad
Mukhtasab: Journal of Economics and Islamic Business Vol. 1 No. 1 (2025): MUKHTASAB: Journal of Economics and Islamic Business
Publisher : Yayasan An-Nur Meunara Baro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65802/mukhtasab.v1i1.75

Abstract

This article aims to analyze the transformation of Islamic values in modern business leadership, focusing on how the concept of amanah (trustworthiness) serves as the foundation for organizational excellence. In today’s competitive business environment, ethical and moral crises have emerged as major challenges for sustainable leadership. Using a qualitative descriptive approach based on literature analysis, this study finds that Islamic principles such as amanah (trust), ‘adl (justice), ihsan (professional excellence), and syura (consultation) remain highly relevant to contemporary management practices. Islamic leadership is not solely profit-oriented but also emphasizes social welfare and collective benefit. These values play a crucial role in shaping leader integrity, fostering organizational trust, and establishing a fair and sustainable work culture. The findings indicate that integrating Islamic values into business leadership strengthens the spiritual and ethical dimensions of modern organizational governance. Consequently, an Islamic value-based leadership model offers an alternative paradigm that harmonizes spirituality and professionalism in pursuit of ethical, just, and dignified business excellence.
EFISIENSI DAN KEADILAN DALAM SISTEM KEUANGAN SYARIAH: ANALISIS KRITIS TERHADAP MODEL KONVENSIONAL Maulana, Arief; Mardhatillah, Mardhatillah
Mukhtasab: Journal of Economics and Islamic Business Vol. 1 No. 1 (2025): MUKHTASAB: Journal of Economics and Islamic Business
Publisher : Yayasan An-Nur Meunara Baro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65802/mukhtasab.v1i1.76

Abstract

This article critically examines the relationship between efficiency and justice in the Islamic financial system and how both values are implemented within modern financial institutions. From an Islamic perspective, efficiency is not merely measured by profitability and productivity but by the extent to which economic activities promote social welfare and balance. The principle of justice (al-‘adl) serves as the moral foundation that distinguishes Islamic finance from the conventional system, which often prioritizes profit over ethics. This study employs a qualitative library research approach, analyzing scholarly literature and Islamic financial regulations. The findings reveal that Islamic finance still faces significant challenges in balancing efficiency and justice, primarily due to the dominance of trade-based products (murabahah) and the limited application of profit-sharing systems (mudharabah and musyarakah). Structural reform through product innovation, governance enhancement, and digitalization guided by the maqasid al-shari‘ah framework is essential to make Islamic finance genuinely just, inclusive, and sustainable. Thus, efficiency and justice should not remain normative ideals but become concrete pillars in realizing equitable economic prosperity.
EKONOMI ZAKAT DAN REDISTRIBUSI KEKAYAAN: JALAN MENUJU KEADILAN SOSIAL ISLAM Miftahurrahmat, Miftahurrahmat; Munzirin, Al
Mukhtasab: Journal of Economics and Islamic Business Vol. 1 No. 1 (2025): MUKHTASAB: Journal of Economics and Islamic Business
Publisher : Yayasan An-Nur Meunara Baro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65802/mukhtasab.v1i1.77

Abstract

This article explores the role of zakat as a central instrument in the Islamic economic system, functioning as a means of wealth redistribution and achieving social justice. Zakat embodies not only spiritual obligations but also economic and social values that strengthen the welfare structure of the Muslim community. This study employs a qualitative approach using library research to analyze both classical and contemporary literature concerning the role of zakat in Islamic economics. The findings reveal that zakat significantly contributes to reducing social inequality, enhancing the welfare of the poor, and fostering social solidarity. The optimization of zakat requires professional, transparent, and digitally integrated management systems. Moreover, productive zakat can transform recipients (mustahik) into contributors (muzaki), promote economic independence, and support sustainable development. Integrating zakat into national fiscal policies also strengthens economic stability and advances the realization of Islamic social justice. Therefore, zakat should be regarded not merely as a religious obligation but as a strategic pillar of the Islamic economic framework that contributes to building a just, prosperous, and civilized society.
PERGESERAN MAKNA JUAL BELI DALAM PRAKTIK MURĀBAḤAH PERBANKAN SYARIAH MELALUI ANALISIS KRITIS PRINSIP KEPEMILIKAN DAN RISIKO Abrar Azizi, Muhammad
Mukhtasab: Journal of Economics and Islamic Business Vol. 2 No. 1 (2026): MUKHTASAB: Journal of Economics and Islamic Business
Publisher : Yayasan An-Nur Meunara Baro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65802/mukhtasab.v2i1.113

Abstract

Murābaḥah practices in Islamic banking have become the most dominant financing instrument, yet they raise academic concerns regarding their conformity with the concept of sale (bay‘) in Islamic jurisprudence (fiqh al-mu‘āmalāt). Normatively, murābaḥah is a sale contract that requires genuine ownership and risk-bearing by the seller prior to the transfer of goods to the buyer. However, contemporary Islamic banking practices often operationalize murābaḥah in a manner resembling fixed-margin financing rather than a genuine sale transaction. This condition indicates a shift in the meaning of sale from an asset-based transaction to a financing-oriented mechanism. This study aims to analyze the shift in the meaning of sale in Islamic banking murābaḥah by emphasizing the principles of ownership and risk as the main analytical framework. The research employs a qualitative normative-critical approach, utilizing secondary data sources such as murābaḥah contract documents, Shariah rulings, Islamic banking regulations, and classical as well as contemporary fiqh al-mu‘āmalāt literature. The analysis is conducted by comparing the normative concept of murābaḥah with its actual implementation in Islamic banking practices. The findings reveal that ownership and risk in murābaḥah practices tend to be formalistic and administrative, while economic risks related to the transaction are largely transferred to customers. This pattern confirms the shift of murābaḥah from a sale contract toward a financing instrument. Theoretically, this study contributes to contemporary Islamic jurisprudence discourse, while practically it provides insights for Islamic banks and regulators to reconstruct murābaḥah practices in order to align them more closely with the substantive principles of sale and the objectives of Islamic economics.
PRICE AND INFORMATION TRANSPARENCY IN DIGITAL SHARIA TRADING AS AN ETHICAL CHALLENGE FOR ISLAMIC BUSINESS IN THE HALAL MARKETPLACE Jannah, Miftahul
Mukhtasab: Journal of Economics and Islamic Business Vol. 2 No. 1 (2026): MUKHTASAB: Journal of Economics and Islamic Business
Publisher : Yayasan An-Nur Meunara Baro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65802/mukhtasab.v2i1.114

Abstract

The rapid development of digital technology has significantly transformed Sharia-based commercial practices, leading to the rapid growth of halal marketplaces as platforms for Islamic digital trade. While these marketplaces aim to facilitate transactions that comply with Islamic principles, emerging ethical challenges particularly related to price and information transparency have raised critical concerns. In digital environments, consumers depend heavily on information provided by sellers and platforms, creating potential information asymmetry that may undermine the principles of honesty, justice, and mutual consent emphasized in Islamic business ethics. This study examines the issue of transparency in Sharia-based digital transactions by focusing on price disclosure and information clarity within halal marketplaces. This research employs a qualitative normative empirical approach, integrating Islamic business ethics theory with empirical observations of digital marketplace practices. Data were collected through document analysis, observation of marketplace interfaces, and in-depth review of relevant literature on Islamic ethics and digital commerce. The analysis is guided by key principles of Islamic business ethics, including honesty (ṣidq), transparency (shafāfiyyah), justice (ʿadl), trustworthiness (amānah), and mutual consent (tarāḍin). The findings reveal that although halal marketplaces generally display prices and product information, transparency is often partial and procedural rather than substantive. Hidden costs, conditional pricing, incomplete product descriptions, and unclear transactional terms contribute to persistent information asymmetry and weaken ethical compliance. The study concludes that transparency in Islamic digital commerce is a moral imperative rather than a technical feature. Strengthening ethical governance, improving information disclosure, and integrating Islamic ethical principles into platform design are essential for ensuring genuine Sharia compliance. These findings offer important ethical and practical implications for halal marketplace operators, digital Sharia business actors, regulators, and future research in Islamic digital economics.
STANDARISASI AKAD JUAL BELI SYARIAH DAN HILANGNYA RUANG MUSYAWARAH DALAM PRAKTIK KONTRAK BISNIS ISLAM KONTEMPORER Alwi, Ahmad
Mukhtasab: Journal of Economics and Islamic Business Vol. 2 No. 1 (2026): MUKHTASAB: Journal of Economics and Islamic Business
Publisher : Yayasan An-Nur Meunara Baro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65802/mukhtasab.v2i1.115

Abstract

The development of contemporary Islamic business is characterized by the increasing use of standardized sale contracts as a response to demands for efficiency, legal certainty, and the growing complexity of modern economic transactions. Contract standardization is considered an effective mechanism to streamline business processes and reduce legal risks, particularly within Islamic financial institutions and digital-based business platforms. However, the widespread application of standard contracts has raised a fundamental concern regarding the diminishing space for deliberation (musyawarah) between contracting parties, which potentially undermines ethical values and justice in Islamic commercial law. This study focuses on contemporary Islamic business contract practices by examining the position of standardized contracts and their implications for the principle of musyawarah as a core ethical and legal value in Islam. Employing a qualitative normative-empirical approach, the research analyzes Islamic jurisprudence on mu‘āmalah and Islamic business ethics, supported by document analysis of standardized contracts and selected business practices. The findings indicate that while standardized contracts enhance efficiency and legal certainty, their implementation often leads to bargaining power asymmetry and restricts meaningful participation in contract formation. This condition weakens the ethical dimension of contracts and risks distancing Islamic business practices from the principles of justice and deliberation. The study emphasizes the necessity of repositioning musyawarah within Islamic business contracts and advocates for the development of more participatory standardized contract models aligned with the normative objectives of Islamic law for both business actors and regulators.
JUAL BELI BERBASIS HUTANG DAN TANTANGAN PRINSIP TUNAI DALAM FIKIH MU‘ĀMALAH PADA PRAKTIK PERDAGANGAN SYARIAH MODERN Rizkana Putra, Mahril
Mukhtasab: Journal of Economics and Islamic Business Vol. 2 No. 1 (2026): MUKHTASAB: Journal of Economics and Islamic Business
Publisher : Yayasan An-Nur Meunara Baro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65802/mukhtasab.v2i1.116

Abstract

The increasing prevalence of debt-based sales has become an inseparable feature of modern economic development, including within contemporary Islamic trade. Transactions that were traditionally conducted on a cash basis have gradually shifted toward deferred payment and installment systems, which are now widely normalized through various contractual arrangements. This shift poses conceptual challenges within fiqh al-mu‘āmalah, particularly regarding the position of the cash principle, which classical jurisprudence regards as a normative foundation for ensuring contractual clarity, certainty of ownership, and transactional justice. This article aims to examine debt-based sales practices in modern Islamic trade and to assess the relevance of the cash principle in preserving the substantive values of Islamic commercial law. This study employs a qualitative normative research method using the approaches of fiqh al-mu‘āmalah and Islamic economics. Data were collected through library research and documentation of transactional practices, classical fiqh texts, fatwas, regulatory frameworks, and contemporary Islamic economic literature. The data were analyzed using normative and comparative techniques to evaluate the conformity of non-cash sales practices with Sharia principles. The findings reveal that debt-based sales have become the dominant pattern in modern Islamic trade, leading to a gradual shift from real exchange transactions toward long-term financial obligations. While the cash principle remains formally acknowledged, its substantive role has been significantly reduced in practice. This study argues that the cash principle remains highly relevant as a normative and ethical benchmark for assessing transactional justice. The implications of this research highlight the need to reinforce the substantive framework of fiqh al-mu‘āmalah so that contemporary Islamic trade practices remain aligned with the objectives of justice and public welfare in Islamic economics.
THE DOMINANCE OF CREDIT MECHANISMS IN SHARIA TRADING AND ITS IMPLICATIONS FOR THE PRINCIPLE OF TRANSACTIONAL JUSTICE Rahma, Cut Dewi
Mukhtasab: Journal of Economics and Islamic Business Vol. 2 No. 1 (2026): MUKHTASAB: Journal of Economics and Islamic Business
Publisher : Yayasan An-Nur Meunara Baro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65802/mukhtasab.v2i1.118

Abstract

The increasing dominance of credit-based mechanisms in contemporary Islamic sales has reshaped the structure and orientation of Sharīʿah-compliant commercial practices. While credit transactions are normatively permissible within Islamic law, their extensive use raises critical questions regarding the realization of transactional justice, which constitutes a fundamental principle of Islamic economics. This study examines the implications of the dominance of credit mechanisms in Islamic sales and evaluates their consistency with the ethical foundations of justice, balance, and mutual benefit embedded in Islamic commercial law. Employing a qualitative normative–conceptual research design, the study adopts the analytical perspectives of fiqh al-muʿāmalāt and Islamic economics. The object of the research is credit-based Islamic sales practices, analyzed through primary data derived from documented transaction practices and contracts, as well as secondary data sourced from classical and contemporary fiqh literature, Sharīʿah fatwas, and Islamic economic scholarship. The findings reveal that credit mechanisms have become the prevailing transactional model, influencing contractual relations, risk allocation, and pricing structures. This dominance tends to generate structural imbalances, particularly through disproportionate risk transfer and rigid obligations imposed on buyers, which may undermine the substantive realization of transactional justice. The study further demonstrates that excessive reliance on credit-oriented models risks marginalizing risk-sharing principles and diluting the moral objectives of Islamic economics. Normatively, the findings suggest that credit mechanisms should function as conditional instruments rather than default transactional frameworks. Practically, the study underscores the need for justice-oriented contractual designs, stronger regulatory oversight, and the promotion of alternative Sharīʿah-compliant models that better align with the objectives of Islamic economics.

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