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Nurul Huda
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Asian Journal of Law and Islamic Finance
Published by Universitas Annuqayah
ISSN : -     EISSN : 30906180     DOI : https://doi.org/10.59005/alif.v1i1
Core Subject : Religion, Economy, Humanities, Social,
Religion Humanities Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice
Asian Journal of Law and Islamic Finance is a peer-reviewed and open acess journal published by the Faculty of Shariah and Islamic Economics, Universitas Annuqayah. The journal serves as an interdisciplinary platform dedicated to exploring the dynamic intersection between legal frameworks and Islamic financial practices. Aims The journal aims to: Foster scholarly research that integrates legal analysis with Islamic financial principles Advance understanding of the regulatory environments that govern Islamic financial markets Examine how Shariah requirements interact with conventional legal systems Promote innovative approaches to emerging challenges in Islamic finance through legal perspectives Contribute to the development of both theoretical frameworks and practical applications Build international dialogue among researchers, practitioners, and policymakers across both disciplines Scope Asian Journal of Law and Islamic Finance welcomes original research addressing topics including but not limited to: Legal and regulatory frameworks for Islamic financial institutions Shariah governance systems and their legal implications Comparative analyses of Islamic financial legislation across jurisdictions Contract law applications in Islamic financial instruments Legal documentation and standardization of Islamic financial products Dispute resolution mechanisms for Islamic financial transactions Corporate governance from both legal and Islamic finance perspectives Consumer protection in Islamic banking and finance Fintech regulations in Islamic financial contexts Taxation issues related to Islamic financial instruments Cross-border legal considerations in Islamic finance Legal structures for Islamic social finance (waqf, zakat) Risk management strategies that comply with both legal and Shariah requirements Court decisions and case law affecting Islamic financial practices The journal accepts diverse methodological approaches including empirical research, theoretical analyses, case studies, and policy evaluations. All submissions undergo rigorous double-blind peer review to ensure scholarly excellence and relevance to the field. Asian Journal of Law and Islamic Finance invites contributions from legal scholars, financial researchers, Shariah experts, economists, practitioners, and policymakers committed to advancing knowledge at the intersection of law and Islamic finance.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 6 Documents
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Search results for , issue "Vol. 1 No. 2 (2025): September" : 6 Documents clear
The Influence of Islamic Branding, Price, Halal Label and Location on the Decision to Buy "Sacred" Bottled Water in the Annuqayah Student of the Sawajarin Nufiatul Hasanah; Dia Purnama Sari; Zahiroh; Anna Isnainisulusiah
Asian Journal of Law and Islamic Finance Vol. 1 No. 2 (2025): September
Publisher : Faculty of Sharia and Islamic Economic, Universtas Annuqayah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59005/alif.v1i2.772

Abstract

This study aims to analyze the influence of Islamic branding, price, halal labels, and location on the purchase decision of "Suci" brand Bottled Drinking Water (AMDK) in students of the Annuqayah Islamic Boarding School in the Sawajarin Guluk-Guluk area. A quantitative approach was used in this study by collecting data through questionnaires to 169 respondents. The results of the research are expected to contribute to the development of marketing strategies based on Islamic values and understand the dominant factors that influence consumer behavior in the context of Islamic boarding schools. Multiple linear regression analysis is used to test the simultaneous and partial influence of each independent variable on purchasing decisions. The findings of this study are expected to be a foundation for manufacturers in increasing product competitiveness by considering Islamic value factors, competitive prices, halal label clarity, and strategic location.
Work Ethics, Wage Systems, and Bonuses: Examining Construction Worker Performance in Developing Economies Zahrotun Nafisah; Ubaidullah Muayyad Ubaid; Lailatul Hasanah
Asian Journal of Law and Islamic Finance Vol. 1 No. 2 (2025): September
Publisher : Faculty of Sharia and Islamic Economic, Universtas Annuqayah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59005/alif.v1i2.981

Abstract

The construction sector remains a critical employment source in developing economies, yet understanding the determinants of worker performance in this informal labor market remains limited. This study addresses the gap by examining how work ethics, wage systems, and bonus provisions simultaneously influence construction worker performance in rural Indonesia. Using a quantitative approach with saturated sampling, we surveyed 97 construction workers in Gapurana Village, Talango District, Sumenep Regency. Data were collected through Likert-scale questionnaires and analyzed using multiple linear regression in IBM SPSS 23. Results reveal that work ethics (t = 2.892, p = 0.005), wage systems (t = 3.439, p = 0.001), and bonus provisions (t = 2.006, p = 0.048) each significantly and positively influence worker performance. The simultaneous effect of all three variables was highly significant (F = 33.965, p < 0.001), explaining substantial variance in performance outcomes. These findings demonstrate that performance enhancement in informal construction sectors requires multidimensional interventions beyond mere financial compensation. The study contributes to Islamic economics literature by providing empirical evidence on labor justice and welfare enhancement mechanisms. For policymakers and contractors, results suggest that integrating ethical development programs with fair wage systems and performance-based incentives creates synergistic effects on worker productivity, aligning with Islamic principles of just compensation and human dignity in employment relationships. Keywords: work ethics, wage systems, bonuses, construction worker performance
Legal Framework of Pesantren Islamic Finance for Grassroots Economic Empowerment Hana Al Ithriyah; Akhmad Zakki Abd. Razak; Ahmad Yani
Asian Journal of Law and Islamic Finance Vol. 1 No. 2 (2025): September
Publisher : Faculty of Sharia and Islamic Economic, Universtas Annuqayah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59005/alif.v1i2.993

Abstract

Despite Indonesia’s Islamic finance growth reaching IDR 2,207 trillion, grassroots communities face systematic exclusion due to stringent collateral requirements and procedural complexity imposed by formal financial institutions. This study examines how UJKS Annuqayah navigates legal-regulatory frameworks and Shariah compliance while implementing trust-based mechanisms for grassroots financial inclusion. This research methodology is a qualitative case study was conducted through in-depth interviews (22 participants), participant observation (50 sessions), and document analysis (127 documents) at UJKS Annuqayah, Sumenep, Indonesia, from May-October 2024. The result is UJKS Annuqayah achieves zero default rates through trust-based collateral leveraging social capital and daily collection systems (setoran harian), enabling financing without physical assets while maintaining DSN-MUI Fatwa No. 04/2000 compliance. However, modest income impacts (8-15% growth) and sustainability pressures (IDR 25-30 million annual deficit) constrain transformative potential. The conclusion and recommendations: Pesantren-based institutions offer viable Islamic microfinance models balancing Shariah principles and accessibility. Future research should conduct comparative multi-case studies and longitudinal impact assessments. Research Implications: The study advances maqasid al-Shariah application in microfinance and reconceptualizes collateral through social capital theory. Managerial Implications: Policymakers should develop proportionate regulatory frameworks recognizing alternative risk mitigation, while practitioners should align payment structures with grassroots cash flow patterns.
Taxation Challenges in Islamic Financial Instruments: Indonesian Regulatory Framework Hikmah Jamil; Inarotul A'yun
Asian Journal of Law and Islamic Finance Vol. 1 No. 2 (2025): September
Publisher : Faculty of Sharia and Islamic Economic, Universtas Annuqayah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59005/alif.v1i2.1025

Abstract

Indonesia, as the world’s largest Muslim-majority nation, faces significant taxation challenges in developing its Islamic finance sector despite government commitments to becoming a global Islamic economic center. This study examines the regulatory framework governing taxation of Islamic financial instruments in Indonesia, focusing on issues of tax neutrality, double taxation, and regulatory harmonization. Employing doctrinal legal analysis and comparative regulatory review, this research analyzes Indonesian tax regulations, fatwas from the National Sharia Board (DSN-MUI), and Financial Services Authority (OJK) regulations from 2008 to 2025. The principal findings reveal that Indonesia’s current tax framework creates competitive disadvantages for Islamic financial instruments compared to conventional products, particularly in sukuk issuance and murabahah financing, due to multiple transfer taxes and stamp duties. The study concludes that achieving tax neutrality requires comprehensive regulatory reform integrating Sharia principles with conventional tax law. Future research should examine the impact of proposed tax incentive schemes on market penetration of Islamic financial products. This research provides policy implications for Indonesian tax authorities to design equitable taxation frameworks that support Islamic finance growth while maintaining fiscal revenue. Managerially, Islamic financial institutions can utilize these findings to advocate for regulatory reforms and structure products more tax-efficiently.
Islamic Consumption Ethics: An Analysis of the Mukbang Phenomenon on Social Media Faridatuz Zakiyah; Mohammad Salahuddin Al-Ayyuubi
Asian Journal of Law and Islamic Finance Vol. 1 No. 2 (2025): September
Publisher : Faculty of Sharia and Islamic Economic, Universtas Annuqayah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59005/alif.v1i2.1030

Abstract

The global phenomenon of mukbang (eating broadcasts), characterized by the demonstrative consumption of excessive food portions, has become a profitable digital entertainment industry. However, this practice presents a deep ethical dilemma when viewed through the lens of Islamic consumption ethics, which strongly prohibit excessive behavior (israf) and waste (tabdzir). This study aims to analyze the fundamental principles of consumption ethics in Islam (halal, thayyib, and moderation) and to critically evaluate the practice of mukbang content within this ethical framework. Furthermore, it seeks to understand the impact of the mukbang phenomenon on the consumption behavior of its audience. This research employs a qualitative descriptive method using content analysis and library research. Data was collected from existing literature, scholarly articles on Islamic ethics, and case studies of popular mukbang content on social media platforms like YouTube. The analysis reveals a fundamental conflict between mukbang practices and Islamic principles. Mukbang inherently constitutes an act of israf’(excessiveness), directly contradicting Q.S. Al-A’raf: 31. It also raises concerns regarding the thayyib (goodness) principle, as it promotes consumption patterns detrimental to health, thus conflicting with the objective of hifdz al-nafs (preservation of life). Mukbang, while profitable as entertainment, normalizes gluttony and consumerism, potentially leading to negative societal and health impacts. This study concludes that the potential harm (mafsadah) of this phenomenon outweighs its claimed benefits (maslahah). It suggests a need for ethical guidelines for content creators and consumers in the digital age.
Revenue Generation and Performance of Local Governments in Anambra State 2015-2024 Fidelia Ifeyinwa Nzekwe-Chinwuko
Asian Journal of Law and Islamic Finance Vol. 1 No. 2 (2025): September
Publisher : Faculty of Sharia and Islamic Economic, Universtas Annuqayah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59005/alif.v1i2.1057

Abstract

The study used a descriptive survey design to examine revenue generation patterns across six local governments in Anambra State. Covering communities from all senatorial zones, it drew insights from a population of 1,919,000 and a sample of 400 respondents selected through purposive and proportional sampling. Data were collected using a validated and reliable structured questionnaire. Both descriptive statistics and multiple regression analyses were performed using SPSS 20, enabling the study to identify key factors influencing local government revenue performance. Low revenue generation was found to significantly weaken the performance of local governments in Anambra State. Most respondents agreed that inadequate revenue severely affects infrastructure provision, increases dependence on statutory allocations, and undermines financial sustainability. While some items showed moderate effects, the overall results indicated a high negative impact, with 41.38 percent rating the effect as high and 29.02 percent as moderate. Hypothesis testing further confirmed a significant relationship between low revenue and poor performance (t = 6.321, p < 0.00). The study therefore concludes that low internally generated revenue has a strong, negative influence on service delivery and governance effectiveness in the state. The study concludes that weak revenue generation significantly undermined the performance of local governments in Anambra State between 2015 and 2024. Low internally generated revenue limited infrastructure development, increased reliance on statutory allocations, and reduced governance efficiency. Strengthening revenue systems and improving financial autonomy are essential for better local government performance.

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