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Contact Name
Ahmad Suminto
Contact Email
ahmadsuminto@unida.gontor.ac.id
Phone
+6283862907736
Journal Mail Official
iej@unida.gontor.ac.id
Editorial Address
Department of Islamic Economics University of Darussalam Gontor, Jl. Raya Siman, Demangan - Siman - Ponorogo, Jawa Timur, 63471
Location
Kab. ponorogo,
Jawa timur
INDONESIA
Islamic Economics Journal
ISSN : 24601896     EISSN : 25415573     DOI : -
Islamic Economics Journal is an international journal providing authoritative sources of scientific information for researchers and scholars in academia, research institutions, government agencies, and industries. Published semi-annually (June and December) by Department of Islamic Economics, Faculty of Economics and Management, University of Darussalam Gontor. Editors accept scientific articles and results of research in accordance with contemporary Islamic economics issues in big five areas namely; Islamic Public Economics, Islamic Monetary Economics, Islamic Business Economics, Islamic International Economics, and Islamic Development Economics.
Articles 89 Documents
The Malaysian Political Economy: Economic Transformation & the Expansion of Islamic Economics Abdalrahman Mohamed Migdad; Harun Adams Babangida Babangida
Islamic Economics Journal Vol. 8 No. 02 (2022): Islamic Economics Journal
Publisher : Faculty of Economics and Management

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Abstract

This paper aims to shed light on Malaysian economic development in light of demographics and politics while focusing on economic legislation that had the largest effect on the outlook of the nation known to the world today. Then the paper discusses the beginnings of how Islamic economics was introduced to the scene and how the industry developed wider and faster than most Islamic economies in the world. This paper also explains this rapid development in the context of the nation’s political-economic development. The paper is qualitative and analytical; it addresses developments up to 2017 although few discussions extend beyond that period, for many developments after 2017 were not significant enough to change the perspectives. The paper incorporates fieldwork, observations, and interviews that took place in 2017. The paper concludes that certain socio-economic policies need to be updated to suit today's generations and allow for the continuation of development at high rates. Furthermore, the expansion of Islamic economics is beneficial; however, the industry demands detail and procession more than ever, especially in sharia compliance, This matter is important because it associates to customer trust that is highly significant for continues development in the industry.
Analysis of Strategic Risk Management of National Board of Zakat (BAZNAS) in Sukabumi Hartomi Maulana Maulana; Soritua Ahmad Ramdani Harahap Harahap; Mentari Fazrinnia Fazrinnia
Islamic Economics Journal Vol. 8 No. 02 (2022): Islamic Economics Journal
Publisher : Faculty of Economics and Management

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Abstract

Zakat is one of the five basic pillars of Islam. The main function of zakat is to help the economy of the mustahik and become a counterweight in the national economic sector. Government Regulation of the Republic of Indonesia explained that the management of zakat is regulated by a non-structural government agency, namely, the National Board of Zakat (BAZNAS) which is responsible to the President through the Minister. The inaugural meeting of the International Working Group on Zakat Core Principles, which resulted in an agreement that the identification of risks in zakat management is very important because it will affect the quality of zakat management in the future. The purpose of this study was to analyze the implementation and mitigation of strategic risk management in the BAZNAS in Sukabumi. This study employs quantitative approach as research method. Interview and documentation are used as data collection techniques. The results of this study found that implementation of strategic risk management and the mitigation of strategic risk of BAZNAS in Sukabumi is well implemented. The vision and mission risk is the biggest strategic risk that is likely to occur, while the strategic risk that has the greatest impact is the objective risk. The BAZNAS in Sukabumi has good risk mitigation based on the scale of risk vulnerability.
Identify the Issuance Problem of Corporate Green Sukuk in Indonesia Bella Tahya Hania Hania; Endri; Indra
Islamic Economics Journal Vol. 8 No. 02 (2022): Islamic Economics Journal
Publisher : Faculty of Economics and Management

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Abstract

Sustainable financing is one of the international issues that has been widely discussed due to the issue of climate change. Green sukuk is one of the sustainable financing instruments that are sharia-compliant. However, companies in Indonesia have not shown interest in issuing corporate green sukuk. Various problems and challenges faced by the company to be able to issue corporate green sukuk. The purpose of this study is to know the problem of issuing corporate green sukuk in Indonesia and the best solutions that can be used. The research method used is Analytic Network Process (ANP). In this study, respondents came from experts of corporate green sukuk problems. Total respondents of this research were 5 peoples who came from academia, company actors and regulators. The results show that the main problem in issuing corporate green sukuk is the lack of understanding from market participants. Meanwhile, in terms of solutions, the incentive provided by the government is the main solution to encourage the issuance of corporate green sukuk.
Women’s Empowerment from An Islamic Perspective (Analytical Study) Khoirul Umam Umam; M. Agus Waskito Waskito
Islamic Economics Journal Vol. 8 No. 02 (2022): Islamic Economics Journal
Publisher : Faculty of Economics and Management

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Abstract

Women's empowerment, which refers to feminist thinking, is a process of awareness and capacity towards greater participation to produce equality of degrees between women and men. It is because women are considered helpless. The economic factors that characterize women's empowerment make it partial and ignore the role of women in other aspects. In Islam, women's empowerment is holistic and multidimensional and covers religious, social, political, and economic aspects. Based on this, this study aims to describe women's empowerment in Islamic perspective and economic empowerment under women's empowerment in Islam. This research is literature research with a qualitive approach. In terms of analytical methods, this study uses critical analysis methods with data collection techniques through a literature review that examines women's empowerment from an Islamic perspective and its economic empowerment. The first research results show that the model of women's empowerment in Islam is a holistic preparation of empowered women that includes four religious, social, political, and economic dimensions. It means that the empowered woman in the Islamic perspective carries out her role with full awareness, including all aspects of her role, in the aspects of creation, character, and roles in the family and society, as well as the sufficiency of fardhu 'ain science as a guide to life. Second, women's economic empowerment in the women's empowerment in Islamic perspective is an effort to make women able to maintain, manage, use property, and develop the property for the benefit of themselves, their families and society in order to realize their optimal role.
Does Islamic Financial Development Reduce Carbon Emissions? Evidence from OIC Countries Nadya Setiawati Setiawati; Daryn Salsabila Salsabila
Islamic Economics Journal Vol. 8 No. 02 (2022): Islamic Economics Journal
Publisher : Faculty of Economics and Management

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Abstract

Islamic finance has great potential in encouraging the development of social and economic infrastructure. The rapid improvement of the Islamic finance sector and the increasingly good economic growth have a positive impact on infrastructure development in the Countries of the Organization Islamic Cooperation (OIC). The study analyzed the impact of the development of the Islamic financial sector on CO2 emissions in 12 OIC countries including the United Arab Emirates, Indonesia, Jordan, Kazakhstan, Kuwait, Lebanon, Malaysia, Nigeria, Pakistan, Saudi Arabia, Sudan and Turkey from 2013 to 2018. The dependent variables used are CO2 emissions, while independent variables include GDP per capita, Sukuk issuance, total sharia-compliant, total energy consumption, and industry value-added. The study used the Panel Corrected Standard Error (PCSE) method and robustness using the Newey-West standard error model. Results from the study showed that GDP per capita and industry value added significantly increased CO2 emissions. Conversely, Islamic financial development variables namely Sukuk issuance and total sharia-compliant have a negative and significant impact on CO2 emissions. This research suggests for policymakers to further encourage sustainable development of Islamic finance to encourage energy efficiency and renewable energy production and consumption to reduce CO2 emissions and maintain environmental quality.
Analysis of Community Intentions on Islamic Bank Products Using The Theory of Planned Behavior Approach Nonie Afrianti Afrianti
Islamic Economics Journal Vol. 8 No. 01 (2022): Islamic Economics Journal
Publisher : Faculty of Economics and Management

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This study aims to determine the effect of attitudes on behavior, perceived behavioral control, and subjective norms or to know perceptions and understandings and then develop into the intentions of Bengkulu city panoramic market traders in behaving using Islamic bank products. The sampling technique used is the theory of Hair obtained a sample of 230 respondents with the sampling technique used is accidental sampling. The analysis technique used Structural Equation Modeling (SEM) with the SmartPLS 3 tool. The results of this study indicate that the variables of attitude towards behavior, perceived behavioral control and subjective norms have a significant effect on intentions and intentions have a significant effect on the behavior of a trader at the Bengkulu city panorama market in behaving in using Islamic bank products.
Analisis Dompet Digital “Link Aja Syariah” dari Perspektif Maslahah Mursalah Anisa Fadilah Zustika Zustika; Achmad Fageh Fageh
Islamic Economics Journal Vol. 8 No. 01 (2022): Islamic Economics Journal
Publisher : Faculty of Economics and Management

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Abstract

Industry of 4.0 era it is no stranger to talk about digital wallets whose existence can make it easier for humans to make payment systems.There are many kinds of digital wallets in Indonesia, first one that is sharia-based is the "Link Aja Syariah" application where this application gets the MUI DSN certificate. The purpose of this study is to analyze the Link Aja Syariah digital wallet application from the perspective of Maslahah Mursalah. The method used in this study uses a qualitative method with a library research approach with primary data sources originating from the official website link aja sharia and secondary data referring to journals, books, ebooks, the Qur'an and hadith and other Islamic literature. Based on the results of the research above, it states that benefits provided by the Link Aja Syariah application were ease of transaction. This benefit can be felt by all, both users and agencies concerned, so that it is in line with the rules of maslaha mursalah.
Islamic Banks between the Jurisprudence of Leading Theorists and Application Ashraf Mohamed Dawaba Dawaba; Abdalrahman Migdad Migdad
Islamic Economics Journal Vol. 8 No. 01 (2022): Islamic Economics Journal
Publisher : Faculty of Economics and Management

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Abstract

The last half of the twentieth century witnessed the birth of Islamic banks. Since their inception, these banks have announced - through their theoreticians - their intention to achieve economic and social development based on their commitment to the principles and provisions of Islamic Sharia. The theoreticians' interests were towards long-term investment and partnership-based contracts as a foundation for mobilizing and using financial resources to achieve development. The paper studies the performance of Islamic banks by collecting data from six Islamic banks in six of the major Muslim countries that engage in Islamic finance. Some of the main conclusions are as follows: The Islamic banks' practice reveals that the thoughts of leading theorists have become absent, as these banks have shifted from the long-term investment method to the short-term commercial method in search of liquidity and profitability. As a result, Murabaha became an alternative to credit on the output side. In turn, current deposits dominated the input side, thus transforming Islamic banks into a form similar to commercial banks. The matter was made worse by the resorting of some Islamic banks to the application of organized 'tawarruq,' which reflects the tendency of some current theorists and implementers to follow the path of traditional banks and enter the tunnel of the jurisprudence of reprehensible tricks. Also, the social role hoped for by Islamic banks has become closer to stagnation than to hoped-for mobility.
Efektivasi Pengumpulan Zakat di Kabupaten Sumbawa Barat Amir Ma’ruf Ma’ruf
Islamic Economics Journal Vol. 8 No. 01 (2022): Islamic Economics Journal
Publisher : Faculty of Economics and Management

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Abstract

The potential for zakat in Indonesia is very huge, in 2019 it reached Rp 233,8 trillion but the collection by the zakat management organization (ZMO) is very small, only around 3.2%. This phenomenon occurs both at the national and regional scales. KSB is one of the areas in Indonesia with a majority Muslim population, where out of 159.980 prosperous people, 98,44% are Muslims. This situation illustrates the potential for zakat in KSB. However, the phenomenon found in the field is the opposite. From the result of research on this phenomenon, four factors were found, namely awareness of muzakki, trust in ZMO, work scope of WMO, and small incentives for muzakki. To increase the effectiveness of zakat collection, an intervention is needed. This research is a qualitative research using the Susamto’s Four Fields as an analytical tool. The result found that the most likely form of intervention to be carried out was in the form of providing additional incentives for muzakkis who had paid their zakat. This insentive is not from areduction in the total zakat collection, but from other thing that can continue to trigger the spirit of muzakki. This effectiveness program must be institutionalized with support from the government.
Analysis of the Effect of Gross Domestic Product and Total Population on State Tax Revenue (2016-2020) Lisda Aisyah Aisyah; Meichio Lesmana Lesmana; Muhammad Sauqi Sauqi; Agus Alimuddin Alimuddin
Islamic Economics Journal Vol. 8 No. 01 (2022): Islamic Economics Journal
Publisher : Faculty of Economics and Management

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Abstract

Taxes are the main sector that provides income to the state, from which these funds will be used to finance the running of various sectors in Indonesia. Therefore, to advance the country a policy is needed by optimizing tax revenue, and each taxpayer must fulfill its obligation to pay taxes. The purpose of this research is to determine the factors that influence the amount of national tax revenue in Indonesia. From the theory obtained and from several previous studies, there are several factors that influence tax revenue, including the Gross Domestic Product (GDP) and population. The data used in this study are secondary data for the period 2016 to 2020 taken from the official website, namely the Central Statistics Agency (BPS) and the Ministry of Finance of the Republic of Indonesia, which are then analyzed using multiple regression analysis. The results of this research indicate that the gross domestic product (GDP) and population variables simultaneously and partially has an effect on state tax revenue at the 5% and 1% significance levels while when viewed through Islamic principles, Gross Domestic Product (GDP) reaches 80 percent so that GDP of Indonesia is recorded at around USD 1 trillion or equivalent to Rp. 14.04 trillion.