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Taufiq Ramadhan
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Maaliyah
Published by Universitas Darunnajah
ISSN : -     EISSN : 31097758     DOI : https://doi.org/10.61159/maaliyah
Core Subject : Religion, Economy, Social,
Religion Economics, Econometrics & Finance Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences
Islamic Banking, Sharia Economic Law, Islamic Business Law, Contemporary Islamic Economic Law, Analysis of Islamic Bank Financial Reports, Financial Industry Banking and Non-Banking, Another section related to contemporary issues in Islamic economic law and Islamic Finance
Arjuna Subject : Ilmu Sosial - Hukum
Articles 12 Documents
 1   2 
Halal Economy as a Driver of Global Development: Literature Review VoS Viewer Trimulato; Asyraf Mustamin
Maaliyah: Journal of Islamic Economic Law and Islamic Finance Vol. 1 No. 1 (2025): Maaliyah: Journal of Islamic Economic Law and Islamic Finance
Publisher : Universitas Darunnajah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61159/maaliyah.v1i1.515

Abstract

The global rise of the halal economy has positioned it as a critical component in advancing inclusive and sustainable global development. This study aims to systematically explore the trends, challenges, and opportunities in halal economic research, while mapping key themes and research gaps using a bibliometric approach. Employing a Systematic Literature Review (SLR) combined with VOSviewer bibliometric analysis, this research analyzes 97 academic publications from 2014 to 2024 sourced via the Publish or Perish software. The findings reveal a significant growth trajectory in halal economy-related research, with dominant themes encompassing halal industry development, sustainability, Islamic finance, and halal tourism. The analysis also highlights Indonesia’s central role in halal economic scholarship and underscores the increasing integration of halal values with the Sustainable Development Goals (SDGs). However, persistent challenges such as fragmented global halal standards and low halal literacy in several regions remain critical barriers to inclusive global expansion. This study offers strategic insights for policymakers to foster a harmonized global halal ecosystem by strengthening regulations, supporting innovation, and enhancing cross-border cooperation. The results also provide a roadmap for future research to align halal economic practices with sustainable and ethical global development frameworks.
Ijtihad Method in Determining of the Fatwa Dewan Syariah Nasional – Majelis Ulama Indonesia (DSN-MUI) Ahmad Rifat Mathar
Maaliyah: Journal of Islamic Economic Law and Islamic Finance Vol. 1 No. 1 (2025): Maaliyah: Journal of Islamic Economic Law and Islamic Finance
Publisher : Universitas Darunnajah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61159/maaliyah.v1i1.525

Abstract

This study explores the ijtihad methodology used by the National Sharia Council of the Indonesian Ulema Council (DSN-MUI) in formulating fatwas on contemporary Islamic economic and financial issues. Amid rapid advancements in financial products and digital transactions, conventional fiqh often proves inadequate, prompting the need for contextual legal reasoning. The research applies qualitative library research with a descriptive-analytical approach, focusing on content analysis of DSN-MUI fatwas. The study reveals that DSN-MUI employs a distinctive and structured ijtihad framework, known as makharij fiqhiyyah, to formulate relevant and applicable fatwas. This method integrates classical usul fiqh with contextual considerations and comprises four key components: al-Taysīr al-Manhajī (methodological facilitation), tafrīq al-ḥalāl ‘an al-ḥarām (distinguishing halal from haram), i‘ādat al-naẓar (re-evaluation of legal opinions), and taḥqīq al-manāṭ (legal cause verification). The fatwas produced are not only theoretically sound but also function as semi-binding references within Indonesia’s legal framework, reflecting DSN-MUI’s role as a mediator between Islamic legal tradition and the dynamics of the modern financial system. This study contributes to understanding how Islamic legal institutions adapt traditional jurisprudence to meet the demands of contemporary economic realities in a practical and accountable manner
The Influence of Early Motivation to Become a Customer on the Satisfaction of Sharia Bank Depositors in DKI Jakarta Supriyono
Maaliyah: Journal of Islamic Economic Law and Islamic Finance Vol. 1 No. 1 (2025): Maaliyah: Journal of Islamic Economic Law and Islamic Finance
Publisher : Universitas Darunnajah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61159/maaliyah.v1i1.533

Abstract

The purpose of the research is to find out the difference in customer satisfaction levels of saving customers reviewed from the beginning of bank account opening, termed 'Voluntary Customer' or 'Forced Customer'. This research is a field study with the population of Saving Customers in Sharia Bank operating in the Special Region of Jakarta. The number of samples that met the requirements was 394 consist of 'Voluntary Customer' as many as 247 respondents and 'Forced Customer' as many as 147 respondents. The questionnaire was set in five points Likert scales. Validity Test using Product Moment Correlation and Reliability Test using Chronbah Alpha. The results of the study are as follows: Customer satisfaction of Sharia Bank is still very low. There is a significant difference between the satisfaction of 'Voluntary Customer' and 'Forced Customer'. There is a significant difference between the satisfaction of 'Voluntary Customers who know the contract' and 'Forced Customers who do not know the contract'. There is no significant difference between the satisfaction of 'Voluntary Customer who knows the contract' and 'Voluntary Customer who does not know the contract'. There is no significant difference between the satisfaction of 'Forced Customer who knows the contract' and 'Forced Customer who does not know the contract'. There is no significant difference between the satisfaction of 'Voluntary Customers who do not know the contract' and the 'Forced Customer who knows the contract'.
Determinants of Murabahah Margin Income: A Study on Sharia Commercial Banks in Indonesia Ade Ananto Terminanto; Taufiq Ramadhan
Maaliyah: Journal of Islamic Economic Law and Islamic Finance Vol. 1 No. 1 (2025): Maaliyah: Journal of Islamic Economic Law and Islamic Finance
Publisher : Universitas Darunnajah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61159/maaliyah.v1i1.534

Abstract

The aim of this research is whether the overhead cost, risk cost and wadiah savings variables have a partial and simultaneous effect on murabahah margin income at Islamic commercial banks. This research method uses a quantitative approach, This research method uses a quantitative approach, the data used is secondary data. The sampling technique in this research used saturated samples to obtain a sample of 32. The data collection technique in this research used documentation and literature study. This research uses multiple linear regression analysis. The results of this research show that partially the overhead cost variable has an effect on murabahah margin income, risk costs do not have a significant effect on murabahah margin income while wadiah savings have a significant effect on murabahah margin income. The conclusion of this research is that the overhead cost variable has an effect because the margin expected by the bank is influenced by the size of the overhead costs borne by the bank, risk costs have no effect because the majority of murabahah financing is channeled to finance consumption which is classified as minimal risk, while wadiah savings have an effect, indicating that there is a lot of interest. people to save their funds in sharia commercial banks, especially wadiah deposits.
Murabahah Financing in the Perspective of Islamic Law Habibi
Maaliyah: Journal of Islamic Economic Law and Islamic Finance Vol. 1 No. 1 (2025): Maaliyah: Journal of Islamic Economic Law and Islamic Finance
Publisher : Universitas Darunnajah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61159/maaliyah.v1i1.536

Abstract

The development of the current era encourages financial institutions such as Islamic banking to continue to develop and produce their best products. One of them is a financing product with a murabaha contract. Murabahah financing. Murabahah is a sale and purchase agreement between two parties, where the buyer and seller agree on the selling price, which consists of the purchase price plus the cost of purchase and profit for the seller. Another understanding of murabahah is the sale and purchase of goods by stating the acquisition price and profit (margin) agreed upon by the seller and buyer. This research aims to identify sharia principles carried out by financial institutions such as Islamic banks on murabahah financing products. This research uses a qualitative descriptive approach with data sources derived from library research, namely collecting data by using written materials.
The Ottoman Dynasty Economic Policy and Its Relevance in the Midst of Global Economic Dynamics in 2025 Fauzan Romadhian Khairi; Euis Amalia; Desmadi Saharuddin
Maaliyah: Journal of Islamic Economic Law and Islamic Finance Vol. 1 No. 1 (2025): Maaliyah: Journal of Islamic Economic Law and Islamic Finance
Publisher : Universitas Darunnajah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61159/maaliyah.v1i1.546

Abstract

Most studies of the economic policies of the Ottoman Dynasty are historical in nature and have not been much associated with contemporary global economic dynamics. In fact, Ottoman economic principles such as the open market system, fiscal flexibility, and waqf management for social welfare have potential relevance in the face of current global economic challenges, including inequality, market instability, and the need for a sustainable economic model. This research aims to: identify the main principles of Ottoman economic policy; analyze its relevance to the global economic challenges of 2025; and formulating historical-based economic policy recommendations that are adaptive to the modern context. A qualitative approach with historical comparative analysis methods is used to compare primary data from the Ottoman archives (trade records, fiscal policy) with contemporary data for comparison and relevance points to economic policies in the present. The results of the study show that the principles of Ottoman economics have significant relevance, particularly in encouraging inclusive and sustainable economic models. The waqf system can be adapted as a stable social funding mechanism, while fiscal flexibility provides inspiration for adaptive economic policy responses amid global uncertainty. This research contributes to the development of historical economic discourse in modern contexts and offers a hybrid policy model that integrates traditional values with contemporary economic needs.
Impact of Financial Ratios on Strategic Investment Decisions: A Case Study of Petronas and Sapura Energy Athia Nur Kamilah; Nur Fauziyah; Chetrine Alya Rinaima; Septi Utari
Maaliyah: Journal of Islamic Economic Law and Islamic Finance Vol. 1 No. 2 (2025): Maaliyah: Journal of Islamic Economic Law and Islamic Finance
Publisher : Universitas Darunnajah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61159/maaliyah.v1i2.639

Abstract

The use of financial ratio analysis as a decision-making tool is widely recognized. However, there is limited comparative research examining how such analysis influences investment assessment and strategic implications between financially stable and distressed companies in the same industry. This study aims to address that gap by evaluating and comparing the financial performance of Petroliam Nasional Berhad (PETRONAS) and Sapura Energy Berhad. A quantitative research method was employed, using profitability, liquidity, leverage, and investment valuation ratios derived from the companies’ annual financial statements. The results reveal a stark contrast between the two entities: PETRONAS exhibits strong profitability, high liquidity, balanced leverage, and favorable investment valuation, reflecting its resilience and capacity for sustainable growth. In contrast, Sapura Energy shows negative profitability, critical liquidity shortages, excessive leverage, and unfavorable investment valuation, indicating severe financial distress. These findings contribute to a better understanding of how financial health impacts strategic positioning and investment attractiveness in the energy sector. The study offers practical insights for investors, policymakers, and corporate managers in designing targeted strategies, such as energy transition initiatives and risk mitigation measures, to enhance competitiveness and long-term sustainability.
Innovation In Financing Boarding School Equipment Through The Cash Waqf Scheme At Sharia Financial Institutions Adzikra Rajuli; Dewi Lestari; Ahmad Azzam Nouvaldi
Maaliyah: Journal of Islamic Economic Law and Islamic Finance Vol. 1 No. 2 (2025): Maaliyah: Journal of Islamic Economic Law and Islamic Finance
Publisher : Universitas Darunnajah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61159/maaliyah.v1i2.698

Abstract

The purpose of this study was to analyze the potential for optimizing cash waqf as a productive source of financing to support the fulfillment of equipment needs for new students in Islamic boarding schools. Islamic boarding school-based Islamic financial institutions have a great opportunity to collect waqf funds directly from their members, whose backgrounds include teachers, employees, students, parents of students, and the community around the Islamic boarding school. This study uses a qualitative descriptive design with a case study to describe the management of cash waqf at the Amanah Gontory Sejahtera Shariah Cooperative. The research data consists of primary data from observations and secondary data from literature on waqf, cash waqf, and Islamic boarding school cooperatives. Data analysis was carried out through reduction, presentation, and drawing conclusions. The analysis refers to the Miles and Huberman Theory (data display, data interpretation, and conclusion drawing). The results of the study indicate that a cash waqf scheme managed productively for the procurement of equipment for new students has the potential to be implemented provided that management is carried out transparently, professionally, and accountably. This research provides recommendations for a cash waqf management model that can be replicated by other Islamic boarding schools as a strategy for waqf-based economic empowerment. Thus, cash waqf can be a crucial instrument for supporting sustainable financial independence in Islamic boarding schools.
Crowdfunding and Cash Waqf Linked Deposit: A Tech Integrated Model for Sustainable Development Muhammad Iman Kurniawan; Rifaldi Nurul Akbar; Aria Nur Akmal
Maaliyah: Journal of Islamic Economic Law and Islamic Finance Vol. 1 No. 2 (2025): Maaliyah: Journal of Islamic Economic Law and Islamic Finance
Publisher : Universitas Darunnajah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61159/maaliyah.v1i2.711

Abstract

This study analyzes the integration of Crowdfunding and Cash Waqf-Linked Deposits (CWLD) as a technology-based Islamic financial model supporting the Sustainable Development Goals (SDGs). Employing a Systematic Literature Review (SLR) with the PRISMA approach, it synthesizes findings from eight primary articles published over the past five years. The analysis indicates that this integration effectively addresses limitations of conventional cash waqf, such as low public literacy, minimal institutional innovation, and regulatory constraints. Crowdfunding expands the donor base, particularly among younger generations and the Muslim diaspora, via transparent, accountable, and participatory digital platforms. Concurrently, CWLD ensures sustainable benefits by adhering to capital preservation principles and channeling returns to social, educational, health, and economic empowerment sectors. Digital technologies, especially blockchain, smart contracts, and tokenization, serve as key catalysts for enhancing transparency, accountability, and fund management efficiency. This hybrid model not only meets financial needs but also fosters public trust, strengthens global Muslim solidarity, and promotes Islamic financial inclusion. Significant challenges remain, including cross-jurisdictional regulatory limits, cybersecurity risks, and low Islamic finance literacy. Therefore, successful implementation depends heavily on institutional innovation, adaptive regulations, and continuous education. This integration represents a structural transformation in the Islamic philanthropy ecosystem, aligning with Maqasid al-Shariah and the requirements of inclusive development in the digital era.
Analysis of Sharia Principles Implementation in Istishna' Contracts and Its Impact on Customer Satisfaction: A Qualitative Descriptive Study at PT. Mari Beri Faedah Aan Fajar Wijaya; Sri Hartono; Arif Hartono
Maaliyah: Journal of Islamic Economic Law and Islamic Finance Vol. 1 No. 2 (2025): Maaliyah: Journal of Islamic Economic Law and Islamic Finance
Publisher : Universitas Darunnajah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61159/maaliyah.v1i2.714

Abstract

This study analyzes the implementation of sharia principles in the istishna' contract and its impact on customer satisfaction at PT. Let's Give Benefits (MARIFA). This study aims to map the integration of the principles of Rabbaniyyah, Akhlaqiyyah, Waqi'iyyah, and Insaniyyah in the framework of istishna' and uncover their contribution in shaping holistic customer satisfaction. We used a descriptive qualitative approach with ethnographic methods, collecting data through participatory observation and in-depth interviews with 13 informants from directors, employees, and customers. Data analysis to obtain comprehensive findings. The results of the study revealed that MARIFA has succeeded in operationalizing the four sharia principles. The Rabbaniyyah principle gives rise to spiritual satisfaction through usury-free transactions and the creation of "houses of blessings". Akhlaqiyyah builds customer trust through integrity and professional responsibility. Waqi'iyyah allows for realistic adaptation to customer needs and constraints, while Insaniyyah fosters emotional loyalty through inclusive service and a personal touch. However, the study also identified operational friction points, such as internal coordination challenges and variations in principle understanding at the field level, that mediate ideality with practice. Our discussions highlighted that customers' perceived sharia compliance creates unique value that goes beyond mere functional satisfaction. In conclusion, the integration of sharia principles in the istishna' contract contributes significantly to the realization of holistic customer satisfaction. The implications of this study offer an operational roadmap for the Islamic property industry. Future research is suggested to conduct multi-case studies, quantitative data triangulation, and exploration of value internalization in employees to enrich the findings.

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