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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 12 Documents
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Islamic Entrepreneurship Education: Cultivating Santri Independence Through Business Management at Pondok Pesantren Annuqayah Latee Guluk-Guluk Muktirrahman Muktirrahman; Citra Mulya Sari; Retno Febriyastuti Widyawati
Asian Journal of Law and Islamic Finance Vol. 1 No. 1 (2025): Maret
Publisher : Faculty of Sharia and Islamic Economic, Universtas Annuqayah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59005/alif.v1i1.619

Abstract

This study examines the integration of Islamic entrepreneurship education in cultivating santri independence through business management at Pondok Pesantren Annuqayah Latee (PPA Latee) in Guluk-guluk, Sumenep. Using a qualitative approach with data collected through interviews, observations, and document analysis, this research identifies four primary strategies employed by PPA Latee: independent business development, technical education and skills training, application of Islamic values in business, and direct field practice. Findings reveal that these approaches collectively foster multidimensional independence among santri, enhancing their economic self-sufficiency, decision-making abilities, and leadership capacities. The study documents how PPA Latee's business units—categorized into manufacturing, trading, and services sectors—provide practical learning environments where santri develop entrepreneurial skills while applying Islamic business principles such as amanah (trustworthiness), adl (justice), and maslahah (public interest). Supporting factors include mentoring programs and practice-based curriculum, while challenges encompass financial limitations and regulatory complexities. Based on these findings, a comprehensive model for Islamic entrepreneurship education in pesantren settings is proposed, positioning Islamic values as the foundation with experiential learning as the central mechanism. This research contributes to understanding how traditional Islamic educational institutions can effectively integrate entrepreneurial education while maintaining their core religious mission and provides valuable insights for pesantren seeking to enhance santri independence and economic self-reliance.
Nurturing Trust Through Faith-Based Service: Implementation of Islamic Service Strategies and Customer Interest Nurul Huda; Angrum Pratiwi; Iqbanul Hakim
Asian Journal of Law and Islamic Finance Vol. 1 No. 1 (2025): Maret
Publisher : Faculty of Sharia and Islamic Economic, Universtas Annuqayah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59005/alif.v1i1.622

Abstract

This study examines the implementation of Islamic service strategies at BPRS Bhakti Sumekar Pratama Ra'as Branch and their impact on customer interest in Barokah savings products. Using a qualitative approach with data collected through interviews, observation, and document analysis, the research identified four key service dimensions: responsiveness, reliability, assurance, and empathy. The findings reveal that these dimensions, when infused with Islamic principles such as ihsan, amanah, sidq, and maslahah, create a distinctive service experience that resonates with customers' religious values while addressing practical financial needs. Supporting factors include community receptiveness to Islamic banking concepts, product accessibility features, and cultural alignment of service approaches. Conversely, inhibiting factors comprise limited public understanding of Islamic banking principles, geographical constraints affecting service reach, and competition from conventional banking institutions. The study contributes theoretical insights into the practical application of Islamic service principles in rural banking contexts while providing actionable implications for Islamic banking practitioners seeking to enhance service quality and customer relationships.
Islamic Brokerage (Samsarah) in Contemporary Markets: An Empirical Analysis of Vehicle Transactions in Rural Indonesia Nila Saadati; Ach. Faris; Zamzamil Fikri
Asian Journal of Law and Islamic Finance Vol. 1 No. 1 (2025): Maret
Publisher : Faculty of Sharia and Islamic Economic, Universtas Annuqayah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59005/alif.v1i1.623

Abstract

This study examines the implementation of Islamic brokerage (Samsarah) principles in vehicle transactions in Prenduan Village, East Java, Indonesia, analyzing its alignment with normative standards established in Fatwa DSN-MUI No. 151/DSN-MUI/VI/2022. Through qualitative investigation utilizing interviews with 12 participants, observation of 8 vehicle transactions, and document analysis, this research reveals how traditional Islamic commercial practices adapt to contemporary market contexts while maintaining claims to religious legitimacy. The findings demonstrate that Samsarah arrangements in rural Indonesia primarily manifest through verbal agreements that nonetheless satisfy substantive Islamic contractual requirements for clarity and mutual consent. Two dominant compensation structures emerge: fixed-amount commissions and variable compensation based on sale price surplus, both aligning with Islamic jurisprudential principles while reflecting practical market adaptations. While transparency practices concerning broker roles demonstrate strong alignment with Islamic ethical standards, vehicle condition disclosure exhibits variable implementation influenced by both religious principles and practical information constraints. Risk allocation follows a temporal division of responsibility that blends Islamic trust principles (amanah) with community norms, while dispute resolution prioritizes informal community-based mechanisms over formal religious institutions. This study contributes to theoretical understandings of Islamic financial intermediation by demonstrating the complex interplay between religious principles, market pragmatics, and community norms in shaping actual economic practices. The findings suggest that effective governance of Islamic markets requires sensitivity to existing informal institutions rather than exclusive reliance on formal regulatory frameworks, highlighting how Islamic commercial ethics may extend beyond minimal religious requirements through additional community-established ethical safeguards.
Between Tradition and Transformation: Islamic Ethical Perspectives on Minimarket Impact in Rural Indonesia Shohiburrahman Shohiburrahman; Maksum Maksum; Ciptia Khoirulina Sanawati
Asian Journal of Law and Islamic Finance Vol. 1 No. 1 (2025): Maret
Publisher : Faculty of Sharia and Islamic Economic, Universtas Annuqayah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59005/alif.v1i1.624

Abstract

This study examines the impact of modern retail establishments (minimarkets) on traditional grocery stores in Ganding District, Indonesia, through both conventional retail competition frameworks and Islamic ethical principles. Employing a qualitative case study methodology with data from four traditional grocery store owners, the research investigated perceptions, business impacts, and adaptation strategies. Findings reveal predominantly negative perceptions among grocery store owners, with significant revenue declines averaging 31.25%. Analysis identified differential impacts across product categories and limited adaptation efforts constrained by capital limitations and insufficient market capabilities. When evaluated through Islamic ethical principles of 'adl (justice), maslahah (public interest), ihsan (excellence), and ta'awun (cooperation), these competitive dynamics raise important considerations regarding market balance and community welfare. The research contributes to retail transformation theory while suggesting policy implications including enhanced zoning regulations and cooperative business models, highlighting the need for balanced approaches that respect traditional economic structures while accommodating modernization benefits.
Islamic Philanthropic Fund Management: The Role Of Infaq And Sadaqah In Supporting Infrastructure Development At Annuqayah M Ulul Azmi Iwan; Umarul Faruq; Mitha Endah Aprilia
Asian Journal of Law and Islamic Finance Vol. 1 No. 1 (2025): Maret
Publisher : Faculty of Sharia and Islamic Economic, Universtas Annuqayah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59005/alif.v1i1.625

Abstract

Islamic boarding schools (pesantren) in Indonesia face significant challenges in infrastructure development due to limited government funding, necessitating alternative financing methods. This study examines the management practices of infaq and sadaqah funds at Pondok Pesantren Annuqayah Daerah As-Syafiiyah and their role in supporting infrastructure development. The research employed a qualitative approach with a case study design, collecting data through in-depth interviews with 15 key informants, direct observation of development activities, and document analysis of financial and project records. The study reveals a systematic management approach incorporating four key functions—planning, organizing, implementing, and monitoring—adapted to accommodate religious values and local cultural contexts. Infaq and sadaqah funds contribute significantly to infrastructure development through educational facility funding, supporting infrastructure enhancement, maintenance programming, and financial independence promotion. This has enabled substantial physical expansion, including dormitory facilities that increased student capacity from 45 to 200 students between 2022-2024. The research concludes that effective management of Islamic philanthropic funds requires balancing religious authenticity with operational effectiveness through adaptive planning systems, transparent accountability mechanisms, and knowledge transfer procedures. These findings offer practical implications for similar institutions seeking sustainable financing alternatives and suggest that further research should explore comparative approaches across different pesantren contexts to develop generalizable principles for Islamic philanthropic fund management in educational settings.
Enhancing Service Quality of Islamic Savings Products: A Strategy to Improve Customer Interest in SAHARA BMT NU East Java Rudi Ruskiyanto; Razali Razali; Ahmad Majdi Tsabit
Asian Journal of Law and Islamic Finance Vol. 1 No. 1 (2025): Maret
Publisher : Faculty of Sharia and Islamic Economic, Universtas Annuqayah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59005/alif.v1i1.626

Abstract

This study explores the enhancement of service quality for Islamic savings products at BMT NU East Java, specifically focusing on the SAHARA (Savings for Hajj and Umrah Arrangements) product designed to facilitate religious pilgrimages. Using qualitative field research conducted from January to April 2024, the study examines current service quality dimensions and their impact on customer interest. Findings reveal that BMT NU East Java employs three primary service approaches: "jemput bola" (staff visiting customers), office service, and online channels. The institution enhances service quality through transparency, personalized attention, and religious alignment, while growing customer interest through community networks and trust-building. Despite fluctuating customer numbers over 2016-2021, significant growth was observed in 2021 despite pandemic challenges. The research suggests that integrating traditional service quality dimensions with religious considerations is essential for Islamic financial institutions serving pilgrimage-focused savings products. Strategic recommendations include balancing digital innovation with personal service, strengthening community engagement, and maintaining Shariah compliance while improving operational efficiency.
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.

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