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Published by Universitas Islam Negeri Ar-Raniry Banda Aceh
ISSN : 25490648     EISSN : 20896239     DOI : 10.22373/share
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Share Jurnal Ekonomi dan Keuangan Islam a peer reviewed, double-blind journal published by the Faculty of Islamic Economics and Business at Universitas Islam Negeri Ar-Raniry in Banda Aceh, Indonesia. SHARE publishes research and concept papers pertaining to the field of Islamic economics and finance in open-access format, allowing users to freely access and download the articles under the CC BY SA license. SHARE has been a CrossRef Member since 2017, which means that each paper published by the journal will have a unique DOI number.
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Articles 56 Documents
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Commodity Price Dynamics and Islamic Stock Market Volatility in Indonesia Hakiki Ramadhan; Muhammad Hasanuddin; Anisa Ilmia; Lidzikri Ahmad Syahru Rabbani
Share: Jurnal Ekonomi dan Keuangan Islam Vol. 15 No. 1 (2026)
Publisher : Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.0079

Abstract

Amid increasing integration between global commodity markets and emerging Islamic capital markets, understanding volatility transmission has become critical for risk management and policy design. This study investigates how volatility from Brent crude oil, gold, and crude palm oil (CPO) influences the Indonesian Sharia Stock Index (ISSI) from October 2022 to October 2024. The analysis uses daily data (N = 484) and employs GARCH and EGARCH frameworks to capture time-varying volatility, spillovers, and asymmetric responses to shocks. ARCH-LM tests confirm conditional heteroskedasticity in ISSI and USD/IDR returns, while EGARCH(1,1) models are also estimated for all variables to consistently account for asymmetry. Conditional volatility series are derived and examined to identify inter-market transmission effects. The results reveal that USD/IDR plays a dominant role, affecting gold negatively and CPO positively, reflecting the dual nature of commodities as safe-haven and export assets. Geopolitical risk significantly influences only Brent oil, suggesting a degree of insulation in Sharia equities. Strong leverage effects are observed in ISSI and CPO, where negative shocks amplify volatility more than positive ones, and CPO shows heavy-tail risk. Although commodity variables and geopolitical risk do not significantly explain ISSI returns, its volatility remains asymmetric, indicating stronger domestic drivers. These findings highlight the importance of exchange rate dynamics, asymmetric risk modeling, and commodity sensitivity in Islamic portfolio management, while offering implications for hedging strategies and macroprudential policy in open emerging economies. ABSTRAK - Dinamika Harga Komoditas dan Volatilitas Pasar Saham Syariah di Indonesia. Seiring meningkatnya keterkaitan antara pasar komoditas global dan pasar modal syariah di negara berkembang, pemahaman tentang transmisi volatilitas menjadi semakin penting bagi pengelolaan risiko dan perumusan kebijakan. Studi ini menganalisis pengaruh volatilitas minyak Brent, emas, dan crude palm oil (CPO) terhadap Indeks Saham Syariah Indonesia (ISSI) selama periode Oktober 2022 hingga Oktober 2024. Dengan menggunakan data harian (N = 484), penelitian ini mengadopsi pendekatan GARCH dan EGARCH untuk menangkap dinamika volatilitas, efek spillover, serta respons asimetris terhadap guncangan pasar. Uji ARCH-LM menunjukkan adanya heteroskedastisitas bersyarat pada ISSI dan nilai tukar USD/IDR, sementara model EGARCH(1,1) digunakan secara konsisten untuk seluruh variabel guna mengakomodasi asimetri. Volatilitas kondisional yang dihasilkan kemudian dianalisis untuk mengidentifikasi transmisi antar pasar. Hasil menunjukkan bahwa USD/IDR menjadi faktor dominan dengan dampak negatif pada emas dan positif pada CPO, mencerminkan perbedaan peran komoditas sebagai aset lindung nilai dan komoditas ekspor. Risiko geopolitik hanya berpengaruh signifikan pada minyak Brent, mengindikasikan adanya ketahanan relatif pada pasar saham syariah. Efek leverage yang kuat ditemukan pada ISSI dan CPO, di mana berita buruk meningkatkan volatilitas secara lebih tajam, serta CPO menunjukkan risiko ekor yang tinggi. Meskipun variabel global tidak menjelaskan return ISSI secara signifikan, volatilitasnya tetap asimetris, menandakan peran faktor domestik. Temuan ini memberikan implikasi bagi manajemen portofolio syariah, strategi lindung nilai, dan kebijakan makroprudensial.
What Drives Online Halal Food Purchasing Decisions? Evidence from Indonesian Muslim Consumers Cupian Cupian; Agisty Aulia Trisnanda; Sarah Annisa Noven
Share: Jurnal Ekonomi dan Keuangan Islam Vol. 15 No. 1 (2026)
Publisher : Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.0082

Abstract

The rapid expansion of e-commerce and digital consumption in Indonesia has transformed consumer purchasing behavior, including in the halal food sector. As one of the world’s largest Muslim-majority countries, Indonesia presents a unique context in which halal considerations intersect with digital information, online interaction, and brand reputation in shaping consumer decisions. This study examines the effects of halal awareness, information quality, and online reviews on purchasing decisions, with brand trust serving as a mediating variable, for Indomie instant noodle products purchased through the Shopee e-commerce platform among Muslim consumers in the Jabodetabek region. The study employed a quantitative research design using primary data collected through questionnaires distributed to 230 respondents. Responses were measured using a Likert scale and analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM) with SmartPLS 4 software. The findings indicate that halal awareness does not significantly influence purchasing decisions or brand trust. In contrast, information quality and online reviews significantly and positively affect both purchasing decisions and brand trust. Brand trust also demonstrates a significant positive influence on purchasing decisions. Furthermore, brand trust mediates the relationships between information quality, online reviews, and purchasing decisions, but does not mediate the relationship between halal awareness and purchasing decisions. The study contributes to the growing literature on halal consumer behavior and digital commerce by demonstrating that, within the context of well-established halal-certified brands, online informational factors and consumer-generated content play a more dominant role in influencing purchasing decisions than halal awareness alone. ABSTRAK - Apa yang Mendorong Keputusan Pembelian Online Makanan Halal? Bukti dari Konsumen Muslim Indonesia. Perkembangan e-commerce dan konsumsi digital di Indonesia telah mengubah pola perilaku konsumen, termasuk dalam pembelian produk makanan halal. Sebagai negara dengan populasi Muslim terbesar di dunia, Indonesia menghadirkan konteks yang menarik ketika pertimbangan halal berinteraksi dengan kualitas informasi digital, ulasan konsumen, dan kepercayaan merek dalam memengaruhi keputusan pembelian. Penelitian ini bertujuan menganalisis pengaruh halal awareness, quality of information, dan online review terhadap keputusan pembelian dengan brand trust sebagai variabel mediasi pada produk mi instan Indomie melalui platform e-commerce Shopee di kalangan konsumen Muslim Jabodetabek. Penelitian menggunakan pendekatan kuantitatif dengan data primer yang diperoleh melalui penyebaran kuesioner kepada 230 responden. Pengukuran dilakukan menggunakan skala Likert dan dianalisis menggunakan metode Partial Least Squares–Structural Equation Modeling (PLS-SEM) dengan bantuan perangkat lunak SmartPLS 4. Hasil penelitian menunjukkan bahwa halal awareness tidak berpengaruh signifikan terhadap keputusan pembelian maupun brand trust. Sebaliknya, quality of information dan online review berpengaruh positif dan signifikan terhadap keputusan pembelian serta brand trust. Brand trust juga terbukti berpengaruh positif signifikan terhadap keputusan pembelian. Selain itu, brand trust mampu memediasi pengaruh quality of information dan online review terhadap keputusan pembelian, tetapi tidak memediasi pengaruh halal awareness terhadap keputusan pembelian. Penelitian ini memberikan kontribusi pada literatur perilaku konsumen halal dan perdagangan digital dengan menunjukkan bahwa pada merek halal yang telah mapan, faktor informasi digital dan ulasan konsumen memiliki pengaruh yang lebih dominan dibandingkan kesadaran halal dalam membentuk keputusan pembelian konsumen.
Do Islamicity Performance and Green Banking Improve Islamic Bank Stability in Indonesia? Ahmad Fauzul Hakim Hasibuan; Syawal Harianto; Syahru Liza Putri Akmal
Share: Jurnal Ekonomi dan Keuangan Islam Vol. 15 No. 1 (2026)
Publisher : Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.0083

Abstract

Islamic banking has increasingly emphasized the integration of Sharia compliance and sustainability practices as part of its long-term resilience strategy. However, empirical evidence regarding the relationship between Islamicity-based performance, Green Banking, and bank stability remains inconclusive, particularly in emerging Islamic financial systems such as Indonesia. This study investigates the influence of Islamicity Performance Index (IPI) components and Green Banking practices on the stability of Islamic banks in Indonesia during the 2021–2024 period. Using balanced panel data from Islamic commercial banks, the study examines five IPI dimensions, namely Profit-Sharing Ratio (PSR), Zakat Performance Ratio (ZPR), Equitable Distribution Ratio (EDR), Directors–Employees Welfare Ratio (DEWR), and Islamic Income versus Non-Islamic Income Ratio (IsIR). Moderated Regression Analysis (MRA) with pooled panel estimation and HC3 robust standard errors was employed to evaluate both direct and moderating effects. The findings reveal that only IsIR demonstrates a consistent positive and significant effect on bank stability, indicating that income purity remains the primary source of resilience in Islamic banking institutions. Meanwhile, PSR, ZPR, EDR, and DEWR do not show significant direct effects, suggesting that distributive justice, welfare orientation, and risk-sharing mechanisms have not yet translated into measurable short-term stability outcomes. In addition, Green Banking does not moderate any relationship between IPI indicators and bank stability, implying that sustainability initiatives still operate separately from core Sharia performance systems. These findings contribute to stakeholder theory, maqāṣid al-sharīʿah, and sustainability theory by highlighting the limited institutional integration of ethical, social, and environmental governance within Islamic banking. The study emphasizes the importance of strengthening integrated Sharia–ESG governance, enhancing risk-sharing financing structures, and embedding sustainability considerations into banking operations and strategic decision-making. ABSTRAK - Apakah Kinerja Islamicity dan Green Banking Meningkatkan Stabilitas Bank Syariah di Indonesia? Perbankan syariah semakin dituntut untuk mengintegrasikan kepatuhan syariah dan praktik keberlanjutan sebagai bagian dari upaya memperkuat ketahanan jangka panjang. Meskipun demikian, bukti empiris mengenai hubungan antara kinerja berbasis Islamicity, Green Banking, dan stabilitas bank masih menunjukkan hasil yang beragam, khususnya pada sistem keuangan syariah di negara berkembang seperti Indonesia. Penelitian ini menganalisis pengaruh komponen Islamicity Performance Index (IPI) dan praktik Green Banking terhadap stabilitas bank umum syariah di Indonesia selama periode 2021–2024. Studi ini menggunakan data panel seimbang dengan lima dimensi IPI, yaitu Profit Sharing Ratio (PSR), Zakat Performance Ratio (ZPR), Equitable Distribution Ratio (EDR), Directors–Employees Welfare Ratio (DEWR), serta Islamic Income versus Non-Islamic Income Ratio (IsIR). Analisis dilakukan dengan Moderated Regression Analysis (MRA) menggunakan estimasi pooled panel dan HC3 robust standard errors untuk menguji pengaruh langsung dan efek moderasi. Hasil penelitian menunjukkan bahwa hanya IsIR yang berpengaruh positif signifikan terhadap stabilitas bank, yang mengindikasikan bahwa kemurnian pendapatan halal masih menjadi faktor utama ketahanan perbankan syariah. Sebaliknya, PSR, ZPR, EDR, dan DEWR tidak menunjukkan pengaruh signifikan. Selain itu, Green Banking tidak terbukti memoderasi hubungan antara indikator IPI dan stabilitas bank, yang menunjukkan bahwa praktik keberlanjutan belum terintegrasi secara optimal dalam kinerja syariah inti. Temuan ini memperkaya literatur terkait teori pemangku kepentingan, maqāṣid al-sharīʿah, dan keberlanjutan, sekaligus menegaskan pentingnya penguatan integrasi Sharia–ESG, pengembangan pembiayaan berbasis bagi hasil, serta internalisasi prinsip keberlanjutan dalam strategi perbankan syariah.
Assessing Digital Transformation in Zakat Management Organizations in Indonesia Tiara Salsabila Azzahra; Yunizar Yunizar; Muhammad Fathrul Quddus
Share: Jurnal Ekonomi dan Keuangan Islam Vol. 15 No. 1 (2026)
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Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.0084

Abstract

The rapid growth of digital technology has reshaped zakat management, particularly in improving the efficiency, transparency, and accountability of collection, distribution, and reporting activities. In urban areas with strong digital penetration, Zakat Management Organizations (Organisasi Pengelola Zakat-OPZ) are increasingly encouraged to integrate digital systems into their operational activities. However, the continuing gap between zakat potential and actual collection suggests that the digital readiness of OPZ has not been fully optimized. This study evaluates the level of digital readiness among OPZ in Bandung City using the Zakat Management Organization Digital Readiness Index (IKDZ) developed by BAZNAS and Bank Indonesia. A descriptive quantitative approach was employed using primary data collected through structured questionnaires distributed to nine OPZ. The assessment covers four dimensions: digital infrastructure, utilization of digital technology, digital ecosystem and culture, and human resource competencies. The findings indicate that the digital readiness of OPZ in Bandung City is generally high. Eight OPZ are categorized as Digital Native, while one OPZ remains in the IT-Developing category. The reporting dimension achieved the highest readiness level, whereas the distribution and utilization dimensions still show several technical limitations. The study also identifies human resource competence and digital system integration as the main challenges affecting sustainable digital transformation in zakat management. ABSTRAK - Menilai Transformasi Digital pada Organisasi Pengelola Zakat di Indonesia. Perkembangan teknologi digital telah mendorong perubahan dalam pengelolaan zakat, terutama dalam meningkatkan efisiensi, transparansi, dan akuntabilitas penghimpunan, pendistribusian, serta pelaporan zakat. Di wilayah perkotaan dengan tingkat penetrasi digital yang tinggi, Organisasi Pengelola Zakat (OPZ) dituntut untuk mengintegrasikan sistem digital ke dalam aktivitas operasionalnya. Namun, kesenjangan antara potensi dan realisasi zakat menunjukkan bahwa kesiapan digital OPZ masih belum optimal. Penelitian ini bertujuan mengevaluasi tingkat kesiapan digital OPZ di Kota Bandung menggunakan Indeks Kesiapan Digital Zakat (IKDZ) yang dikembangkan oleh BAZNAS dan Bank Indonesia. Penelitian menggunakan pendekatan kuantitatif deskriptif dengan data primer yang diperoleh melalui penyebaran kuesioner terstruktur kepada sembilan OPZ. Penilaian dilakukan terhadap empat dimensi, yaitu infrastruktur digital, pemanfaatan teknologi digital, ekosistem dan budaya digital, serta kompetensi sumber daya manusia. Hasil penelitian menunjukkan bahwa tingkat kesiapan digital OPZ di Kota Bandung tergolong tinggi. Delapan OPZ berada pada kategori Digital Native, sedangkan satu OPZ termasuk kategori IT-Developing. Dimensi pelaporan menunjukkan tingkat kesiapan tertinggi, sementara dimensi pendistribusian dan pendayagunaan masih menghadapi beberapa keterbatasan teknis. Penelitian ini juga menunjukkan bahwa kompetensi sumber daya manusia dan integrasi sistem digital menjadi tantangan utama dalam mendukung transformasi digital pengelolaan zakat yang berkelanjutan.
Does Financial Innovation Mediate Risk in Islamic Banking? Evidence from Algeria Bessouyah Mouna; Mimouni Yassine
Share: Jurnal Ekonomi dan Keuangan Islam Vol. 15 No. 1 (2026)
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Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.0100

Abstract

As Islamic banks face increasingly complex financial environments, particularly in regulatory settings like Algeria, Islamic financial engineering emerges as a critical tool for managing the risks tied to Sharia-compliant financing instruments. This study develops a comprehensive model examining the dimensions of Islamic financial engineering (IFE) and their impact on the risks of Islamic financing Formulas, with financial innovation acting as a mediating variable. A descriptive and quantitative research approach was adopted. Data were collected via 150 questionnaires distributed to Islamic banking professionals in Algeria (Al-Baraka Bank, Al-Salam Bank, and Islamic windows) and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) via SmartPLS software. The results reveal that IFE does not have a significant direct impact on mitigating the risks of Islamic financing Formulas. Instead, its influence is fully and significantly mediated by financial innovation. These findings emphasize that IFE frameworks must be supported by robust financial innovation capabilities to effectively mitigate risks in Islamic banking. Consequently, Islamic banks are encouraged to enhance product innovation and develop professional competencies to improve risk management efficiency and overall banking performance. ABSTRAK - Apakah Inovasi Keuangan Memediasi Risiko dalam Perbankan Syariah? Bukti dari Aljazair. Dalam menghadapi kompleksitas sistem keuangan modern, terutama di negara dengan tantangan regulasi seperti Aljazair, rekayasa keuangan Islam menjadi instrumen penting dalam mengelola risiko pada pembiayaan berbasis syariah. Penelitian ini bertujuan untuk mengembangkan model yang mengkaji dimensi rekayasa keuangan Islam (IFE) dan pengaruhnya terhadap risiko format pembiayaan Islam, dengan inovasi keuangan sebagai variabel mediasi. Pendekatan deskriptif dan kuantitatif digunakan dalam studi ini. Data dikumpulkan melalui 150 kuesioner yang disebarkan kepada praktisi perbankan Islam di Aljazair (Bank Al-Baraka, Bank Al-Salam, dan unit perbankan syariah) dan dianalisis menggunakan pemodelan persamaan struktural berbasis Partial Least Squares (PLS-SEM) melalui perangkat lunak SmartPLS. Hasil penelitian menunjukkan bahwa rekayasa keuangan Islam tidak memiliki pengaruh langsung yang signifikan terhadap mitigasi risiko pembiayaan Islam. Sebaliknya, pengaruh tersebut dimediasi secara penuh (full mediation) dan signifikan oleh inovasi keuangan. Temuan ini menegaskan bahwa kerangka rekayasa keuangan Islam harus didukung oleh kapasitas inovasi keuangan yang kuat agar dapat menjadi instrumen mitigasi risiko yang efektif. Oleh karena itu, bank syariah didorong untuk meningkatkan inovasi produk dan mengembangkan kompetensi profesional guna mengoptimalkan efisiensi manajemen risiko dan kinerja perbankan secara keseluruhan.
How to Implement Islamic Banking's CSR in the Society? Muhammad Yasir Yusuf
Share: Jurnal Ekonomi dan Keuangan Islam Vol. 1 No. 1 (2012)
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Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v1i1.714

Abstract

The concept of CSR began in the West in the 1970s, and discussions on the concept of CSR often focused on the view that is founded on the norms, cultures, and beliefs of the West. The Western perspective of CSR has become common practice for a corporation to run CSR programs. One of the goals of Islamic banking operations is to increase economic growth towards a better and just society. Therefore, Islamic CSR in IBIs should be underpinned by Islamic philosophy that differs from the Western perspective. This study aims to examine the implementation of Islamic CSR in IBIs in society based on the underpinning of Islamic philosophy. This study relies on secondary data to explore the basic sources of Islam using content analysis. The study found that the implementation of Islamic corporate social responsibility on IBIs in society should be guided by two Islamic principles: first, the application of maslahah (the public good), which provides a better framework that managers can use when faced with potential conflicts arising from diverse expectations and interests of any corporation’s stakeholders. Secondly, corporate social responsibility programs should pay more attention to the importance of social capital in society. The corporate social responsibility practices in Islamic banking should not only be based on responsibility al-kifayah (obligatory upon the community) and get a positive corporate image but can also be deemed a method to alleviate poverty and achieve the true economic goals of Islam. ABSTRACT - Konsep CSR dimulai di Barat pada era 1970-an sehingga bahasan CSR seringkali dipengaruhi oleh norma-norma, budaya dan keyakinan masyarakat Barat. Pandangan ini kemudian mempengaruhi praktik banyak perusahaan dalam program CSR-nya. Dalam Islam, perusahaan seperti Institusi Perbankan Syariah (IPI) diarahkan untuk meningkatkan pertumbuhan ekonomi umat dengan adil and merata sehingga pelaksanaan CSR dalam filosofi Islam berbeda dengan konsep Barat. Artikel ini bertujuan untuk menguji implementasi CSR Islam dalam IPI yang dilaksanakan berdasarkan filosofi Islam. Kajian ini menggunakan data sekunder untuk mengeksplorasi sumber-sumber dasar Islam that kemudian dianalisis dengan content analysis. Hasil kajian menunjukkan bahwa implementasi CSR Islam dalam IPI dipandu oleh dua prinsip Islam, pertama, maslahah, which gives a framework to the managers to act better in uncertain conditions. Kedua, program CSR dalam IPI harus menitikberatkan pada social capital masyarakat. Jadi, praktik CSR dalam IPI tidak hanya berdasarkan al-kifayah (kewajiban atas masyarakat) dan memperoleh citra positif tetapi juga sebagai metode dalam mengentaskan kemiskinan dan mencapai tujuan-tujuan ekonomi dalam Islam.
Synergizing Digital Innovation, Sustainability, and Maqashid al-Shariah in the Global Islamic Economy Azharsyah Ibrahim
Share: Jurnal Ekonomi dan Keuangan Islam Vol. 15 No. 1 (2026)
Publisher : Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.0206

Abstract

This issue presents an extensive and timely collection of scholarly works that examine the continuing transformation of Islamic economics and finance in response to digital disruption, sustainability imperatives, institutional reform, and changing socio-economic behavior. The articles published in this volume engage with several critical domains, including the digitalization of Islamic social finance, the strengthening of zakat and waqf governance, the expansion of halal industries and halal tourism, the advancement of Islamic banking stability and corporate governance, and the evolving dynamics of Islamic capital markets and financial behavior. In addition, this edition places significant emphasis on the socio-economic application of Maqashid al-Shariah, particularly in the context of digital economic transformation, institutional efficiency, household resilience, and contemporary Islamic financial instruments. Collectively, these contributions offer rigorous theoretical reflections, robust empirical findings, and practical policy recommendations for building an Islamic economy that is ethical, inclusive, adaptive, sustainable, and spiritually grounded in the digital era.
Prospek Pengembangan Perbankan Syariah Nasional Pasca Undang-Undang Perbankan Syariah (Analisis dengan Pendekatan Model Statistika Chow Test) Bismi Khalidin
Share: Jurnal Ekonomi dan Keuangan Islam Vol. 1 No. 1 (2012)
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Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v1i1.715

Abstract

This article aims to determine the influence of Undang-Undang Perbankan Syariah (UUPS) on the growth of Islamic banking industry in Indonesia. The data was analyzed using econometric software, SHAZAM version 10.1. This study employs Ordinary Least Square (OLS), and Chow Test was utilized as statistical instrument. The findings show that UUPS did not have significant influence on the growth of Islamic banking in Indonesia. This was indicated by fact that third party fund (DPK), number of depositors and amount of financing were not growing significantly. In addition, the application of Profit-Loss Sharing (PLS), as the core principle in Islamic banking operation, also did not show any significant change. This was supported by the fact that murabahah product was still dominant within the financing portfolio of Islamic banking in Indonesia. ABSTRAK - Penelitian ini bertujuan untuk mengetahui sejauhmana pengaruh Undang-Undang Perbankan Syariah (UUPS) terhadap pertumbuhan industri perbankan syariah nasional. Metode analisis yang dipakai adalah Ordinary Least Square (OLS), dengan instrumen statistik Chow Test. Pengolahan data menggunakan program ekonometrika SHAZAM Versi 10.1. Hasil penelitian menunjukkan bahwa UUPS tidak mempunyai pengaruh yang signifikan terhadap pertumbuhan industri perbankan syariah secara umum. Dana Pihak Ketiga, Jumlah Nasabah dan Pembiayaan tidak mengalami perubahan sama sekali. Disamping itu, penerapan sistem bagi hasil Profit-Loss Sharing (PLS) yang merupakan prinsip utama operasional perbankan syariah, juga tidak mengalami perubahan yang signifikan. Ini ditunjukkan dengan pembiayaan produk murabahah masih mendominasi portofolio pembiayaan industri perbankan syariah nasional.
Gala dan Rahn: Analisis Korelasi dari Perspektif Ekonomi Islam Azharsyah Ibrahim
Share: Jurnal Ekonomi dan Keuangan Islam Vol. 1 No. 1 (2012)
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Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v1i1.716

Abstract

Gala is a term used by the society of Aceh—a formal Islamic state in Indonesia—referring to an economic transaction similar to the concept of pawn in Western. The concept has long been practiced in the society and left many unsolved problems. Lately, academic scholars have questioning the implementation of the concept. Although, it has root in Islam, some scholars suspect that the concept has been misguiding in its practices. This paper intends to analyze the implementation of the Gala concept in the Acehnese society through their economic transactions. It also aims to make a comparison to an Islamic economic’s concept known as Rahn. The primary data is mainly gathered through observation in the length of 5 years in the selected areas in Aceh. To support the data, an in-depth interview technique with relevant people was also used. In addition, the secondary data from journal’s articles, books, and other related literatures were also utilized. Data was analyzed using content and comparative analysis. The findings show that the basic purpose of Gala in the Acehnese society is relevant to the Rahn scheme. In the implementation level, however, the concept is closely related to the interest lending scheme which is considered as riba (usury) in Islam. Consequently, the balanced-economy as one of the core concepts in Islamic economic is not achieved. It is reflected from the continuance benefits gaining for one party while another party gaining nothing except the core objects which has to be repaid. In Islam, the principal meaning of Rahn is helping each other among Islamic society (ummah). Thus, it is prohibited of gaining any material benefit which leads to the riba practices. Finally, this article suggests the related parties to return to the core concept of the Gala which is actually same as Rahn or else they should abandon it to avoid harming the ummah. ABSTRAK - Gala adalah salah satu dari sekian banyak bentuk praktik ekonomi yang berkembang dalam masyarakat Aceh sejak lama. Konsep tersebut pada dasarnya tercipta dari nilai-nilai yang dianut oleh masyarakat Aceh dalam kehidupan sehari-hari sejak lama. Artikel ini bertujuan untuk menganalisis implementasi konsep Gala yang dipraktikkan masyarakat Aceh dalam transaksi-transaksi ekonomi dari sudut pandang ekonomi Islam yang menggunakan skema Rahn. Data utama artikel ini diperoleh dari hasil observasi penulis selama beberapa tahun di daerah-daerah yang melakukan praktik Gala dalam beberapa transaksi ekonominya sehari-hari. Selain itu, untuk mendukung hasil observasi, in-depth interview dengan para pihak yang terlibat juga dilakukan. Untuk memperkuat temuan lapangan, penulis juga melakukan kajian literatur terhadap hal-hal yang berkaitan dengan praktik Gala. Analisis data dilakukan dengan pendekatan kualitatif menggunakan content dan comparative analysis. Hasil penelitian menunjukkan bahwa praktik Gala dalam masyarakat Aceh pada dasarnya relevan dengan skema Rahn (gadai), akan tetapi pada tahap implementasi masih sarat dengan unsur riba dimana balanced-economy tidak terjadi. Hal ini terlihat dari adanya pengambilan manfaat oleh pihak tertentu yang mengakibatkan tertindasnya satu pihak oleh pihak lainnya. Dalam ekonomi Islam, konsep dasar gadai adalah tolong menolong sehingga tidak dihalalkan mengambil manfaat sebagai efek dari tolong menolong tadi. Pengambilan manfaat ini dapat menjerumuskan transaksi tersebut ke dalam riba. Artikel ini merekomendasikan pihak-pihak berwenang untuk melakukan banyak sosialisasi dengan melibatkan semua para tokoh masyarakat untuk meluruskan kembali praktik Gala sesuai dengan konsep ekonomi dalam ajaran Islam
Mengkritisi Teori Pembangunan Ekonomi Konvensional M. Shabri Abd. Majid
Share: Jurnal Ekonomi dan Keuangan Islam Vol. 1 No. 1 (2012)
Publisher : Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v1i1.717

Abstract

The failure of western economists to identify the factors that cause of the differences in economic growth within a country over time and differences in economic growth between countries are because of their weaknesses and ignorance. Besides, the ignorance of the role of science in the early emergence of the theory of economic development, until now they still deny the presence of the grace of Allah SWT as the most important factor causing the ongoing economic development of the people. Because of the high value of science in Islam, then the mastery of science comprehensively and completely will allow Muslims to build its economy. However, economic development of the people will never apply without the blessing of Allah through His grace stream. This paper is to review and uncover the weakness of western economic growth theory since the theory was first initiated. Although, initially the western economists had ignored the role of science as one important indicator of economic development, then in the end of 2nd millennium they have a mastery of knowledge is absolutely necessary to develop the economy of the country. It is clearly shows that, finally the western economists were forced to admit the truth of the words of Allah that has been poured in the Muslim holy book, Al Qur'an, about the importance of the role of sciences in life in this world. ABSTRAK - Kegagalan para ahli ekonomi barat untuk mengidentifikasi faktor-faktor penyebab terjadinya perbedaan pertumbuhan ekonomi dalam sebuah negara dari masa ke masa dan perbedaan pertumbuhan ekonomi antar negara adalah mutlak disebabkan oleh kedhaifan dan kejahilan mereka sendiri. Selain sempat mengabaikan peran ilmu pengetahuan pada awal-awal kemunculan teori pembangunan ekonomi, hingga detik ini mereka masih menafikan kehadiran rahmat Allah SWT sebagai faktor terpenting penyebab berlangsungnya pembangunan ekonomi umat. Karena tingginya nilai ilmu pengetahuan dalam Islam, maka penguasaan ilmu pengetahuan secara komprehensif dan benar jelas akan memudahkan umat Islam untuk membangun ekonominya. Namun, pembangunan ekonomi umat tidak akan pernah berlaku tanpa mendapat restu Allah SWT melalui cucuran rahmatNya. Tulisan ini meninjau dan menguak kedhaifan teori pertumbuhan ekonomi barat sejak teori itu pertama kali digagaskan. Walaupun pada awalnya para ahli ekonomi barat sempat mengabaikan peran ilmu pengetahuan sebagai salah satu indikator penting dalam pembangunan ekonomi, namun di akhir milineum ke-2 mereka telah menyadari bahwa penguasaan ilmu pengetahuan adalah mutlak diperlukan untuk membangun ekonomi negara. Ini, secara jelas, menunjukkan bahwa, akhirnya, para ahli ekonomi barat terpaksa mengakui kebenaran kata-kata Allah SWT yang telah dituangkan dalam kitab suci umat Islam, al-Qur’an tentang pentingnya peran ilmu pengetahuan dalam menjalani kehidupan di dunia fana ini.

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