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Journal of International Islamic Business Studies
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jiibs.febunsoed@gmail.com
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Jl. Profesor DR. HR Boenyamin No.708, Dukuhbandong, Grendeng, Kec. Purwokerto Utara, Kabupaten Banyumas, Jawa Tengah 53121
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Journal of International Islamic Business Studies
Published by Universitas Jenderal Soedirman
ISSN : -     EISSN : 31092209     DOI : https://doi.org/10.32424/jiibs
Core Subject : Economy,
Economics, Econometrics & Finance
The Journal of International Islamic Business Studies (JIIBS) is a scholarly journal devoted to publishing high-quality theoretical and empirical articles in all Islamic areas of business, economics, management, banking, and Islamic finance. Promote dialogue and discussion on current issues in the fields of Islamic economics and finance among the international community of scholars. Encourage empirical research on Islamic finance, takaful, zakat, awqaf, and other Islamic institutions, including case studies from Muslim economies.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis dan Menejemen Intetrnasional
Articles 5 Documents
 1 
Search results for , issue "Vol 2 No 2 (2025): JIIBS" : 5 Documents clear
Evaluating Claim Settlement in Islamic Life Insurance through the Lens of Maqasid al-Shariah: Evidence Insurance Compnay in Central Java Branch Intan Shaferi; Hesti Widianti; Muliasari Pinilih
Journal of International Islamic Business Studies Vol 2 No 2 (2025): JIIBS
Publisher : Fakultas Ekonomi dan Bisnis Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/jiibs.v2i2.18845

Abstract

This study aims to evaluate the claim settlement process of the Brilliance Hasanah Sejahtera life insurance product at PT Asuransi XXX, Central Java Branch, through the lens of Maqasid al-Shariah. Employing a qualitative descriptive method, the research examines whether the operational mechanisms of Islamic life insurance claims reflect Shariah compliance and contribute to social welfare (maslahah). Data were collected through interviews, observations, and documentation from both company representatives and policyholders. The findings reveal that the claim settlement procedure—comprising claim notification, submission of documents, verification, and payment—has been implemented in accordance with Islamic principles, emphasizing transparency, fairness, and efficiency. The analysis identifies that PT Asuransi XXX embodies the objectives of Maqasid al-Shariah primarily through the dimension of hifzh al-mal (protection of wealth), while simultaneously supporting other objectives such as hifzh al-din, hifzh al-nafs, hifzh al-aql, and hifzh al-nasl. The study concludes that the company’s claim settlement process reflects the realization of dharuriyat (essential needs), promoting justice and trust in Islamic financial services.
Analysis of Sharia Investment and its Influence on Muslim Investors’ Decision-Making in Indonesia Siva Alzaneta
Journal of International Islamic Business Studies Vol 2 No 2 (2025): JIIBS
Publisher : Fakultas Ekonomi dan Bisnis Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/jiibs.v2i2.18992

Abstract

Indonesia, as the country with the largest Muslim population in the world, has enormous potential for developing Sharia-compliant investments. Sharia investment is a capital investment system based on Islamic principles, free from riba (usury), gharar (gharar), and maysir (gambling), and emphasizes the values ​​of justice, transparency, and sustainability in economic activities. Sharia investment is expected to provide an alternative financial system that is not solely oriented towards financial gain but also aligns with the ethical and social values ​​of the Muslim community. This article aims to analyze the concept of Sharia investment and examine the factors influencing Muslim investors' decisions in selecting Sharia-compliant investment instruments in Indonesia. The research method used is a qualitative descriptive approach through a literature review of recent scientific journals, reference books, and official reports from Sharia financial institutions and regulators. The study results indicate that Sharia financial literacy plays a significant role in shaping investors' understanding and attitudes toward Sharia investment. Furthermore, risk perception, return levels, and trust in Sharia financial institutions and Sharia supervision have been shown to significantly influence investment decisions. These findings underscore the importance of improving education, transparency, and institutional strengthening to encourage sustainable growth of sharia investment in Indonesia.
Implementation of Islamic Corporate Governance Principles in Sharia Financial Services Institutions Amid Digital Transformation to Strengthen Consumer Protection and Business Ethics Ahmad Fadilah Ilmi Nasution
Journal of International Islamic Business Studies Vol 2 No 2 (2025): JIIBS
Publisher : Fakultas Ekonomi dan Bisnis Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/jiibs.v2i2.19004

Abstract

This study analyzes the implementation of Islamic Corporate Governance principles in Islamic financial services institutions in the midst of digital transformation to strengthen consumer protection and Islamic business ethics through a descriptive qualitative approach based on literature studies from scientific books, national-international journals, and financial authority websites; Data analysis includes reduction, narrative presentation, and conclusion drawing to illustrate the gap between sharia norms and operational practices. The results show that the implementation of the principles of accountability, transparency, fairness, and trust via DPS as well as technologies such as blockchain and AI on sharia fintech platforms has succeeded in increasing the efficiency of mudharabah transactions and automatic zakat distribution, but is hampered by low DPS literacy, immature cybersecurity regulations, outdated legacy infrastructure, minimal consumer literacy, and minimal stakeholder collaboration which triggers the risk of data leakage, hidden ghara, and business ethics shifted to commercial orientation; The role of Islamic Corporate Governance has proven to be essential to strengthen real-time supervision, sharia grievance redressal, and digital Islamicity index to maintain halal integrity and falah in the midst of innovations such as robo-advisory and tokenized sukuk.
The Advancement of Islamic Financial Systems in Indonesia and Malaysia through the Use of Financial Technology as an Indicator: A Literature Study Raihan Arlingga Pratama; Ramli nor Azuana
Journal of International Islamic Business Studies Vol 2 No 2 (2025): JIIBS
Publisher : Fakultas Ekonomi dan Bisnis Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/jiibs.v2i2.19292

Abstract

Abstract The rapid expansion of financial technology (fintech) has increasingly reshaped contemporary financial systems, including Islamic finance, where technological integration is no longer viewed merely as a service enhancement but as a systemic development affecting governance quality, operational efficiency, and Sharia compliance. Hasan et al. (2020) emphasize that “Fintech based solutions have the potential to improve transparency, accountability, and operational efficiency in Islamic finance,” while Alshater et al. (2022) point out that weaknesses in regulation and financial literacy remain significant obstacles to the growth of Islamic fintech. This study seeks to examine the advancement of Islamic financial systems in Indonesia and Malaysia by treating Islamic fintech as an indicative measure rather than as an independent analytical variable. Employing a qualitative literature review approach, the Islamic financial system at the national level is used as the unit of analysis. The comparative discussion focuses on three key dimensions: regulatory framework, institutional arrangement, and innovation dynamics. The results suggest that Malaysia demonstrates a more advanced level of Islamic financial system maturity, as reflected in its coherent regulatory structure and well-established Sharia institutions. In contrast, Indonesia shows substantial growth potential but continues to encounter challenges related to regulatory fragmentation and institutional coordination. Overall, this study argues that Islamic fintech can serve as a meaningful indicator for assessing the relative advancement of a country’s Islamic financial system. Keywords: Islamic fintech, Islamic financial system, Indonesia, Malaysia.
Islamic Financial System Maturity in the Digital Age: A Comparative Institutional Analysis of Indonesia and South Korea Talitha Anisya Rahma; Geesun Lee
Journal of International Islamic Business Studies Vol 2 No 2 (2025): JIIBS
Publisher : Fakultas Ekonomi dan Bisnis Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/jiibs.v2i2.19298

Abstract

Digital transformation has altered the structure and governance of financial systems, including Islamic finance, where institutional capacity and Sharia governance determine system sustainability. Existing studies emphasize that Islamic financial system maturity should be assessed beyond quantitative indicators by incorporating regulatory coherence, institutional effectiveness, and governance readiness in the digital era. This study aims to analyze the maturity of Islamic financial systems in Indonesia and South Korea from a comparative institutional perspective. Using a qualitative literature review method, this study positions the Islamic financial system at the country level as the unit of analysis and compares both countries across regulatory frameworks, institutional structures, and Sharia governance arrangements. Indonesia represents a Muslim-majority country with expanding Islamic finance activities, while South Korea offers insight into Islamic finance development within a non-Muslim-majority institutional context. The findings suggest that Indonesia demonstrates strong market potential but faces challenges related to regulatory integration, whereas South Korea exhibits a more selective and institution-driven approach to Sharia-compliant finance. These differences indicate that Islamic financial system maturity is shaped by institutional design and regulatory context rather than market size alone. This study concludes that an institutional perspective provides a more comprehensive framework for understanding Islamic financial system maturity in the digital age.

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