cover
Contact Name
Jefik Zulfikar Hafizd
Contact Email
hafizd.zulfikar@gmail.com
Phone
+6282124169891
Journal Mail Official
hafizd.zulfikar@gmail.com
Editorial Address
Jalan Perjuangan By Pass Kota Cirebon
Location
Kota cirebon,
Jawa barat
INDONESIA
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah
ISSN : 23550805     EISSN : 25494112     DOI : https://doi.org/10.24235
Core Subject :
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah publishes original and recent studies that focus on normative, empirical, and comparative analyses of Sharia economic law and its application across various modern economic sectors in different countries, particularly in Indonesia. The scope of the journal includes: Sharia law in economic activities, trade, the halal industry, and business governance. Regulation of Islamic finance, banking, the Islamic capital market, Islamic fintech, and other financial instruments. Contracts (aqd) from the perspectives of fiqh al-mu‘āmalāt and positive law, including issues of dispute resolution, Sharia compliance, and international regulatory standards. Business ethics and Sharia governance in corporations, financial institutions, and regulatory authorities. Islamic economic thought, legal theory, and interpretive methodologies (ijtihād) within contemporary economic contexts. Judiciary and dispute resolution in Sharia economic matters, including comparative studies between national (Indonesia) and international jurisdictions. Implementation of Sharia economic law in society. The journal encourages multidisciplinary approaches—covering law, economics, finance, and policy studies—provided that the primary analysis remains grounded in the framework of Sharia economic law.
Arjuna Subject : -
Articles 238 Documents
The Digital Revolution of Islamic Entrepreneurship: A Study on Upholding the Principles of E-Commerce Legitimacy in Marketplaces Pauzi Muhammad; Yoesi Primadiya Fitri; A Alak; Pidayan Sasnifa
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 9 No. 2 (2024)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v9i2.18179

Abstract

The rapid digital transformation in entrepreneurship has significantly influenced Islamic economic practices, particularly e-commerce. However, there is a lack of research focusing on methods to enforce e-commerce legitimacy in Islamic entrepreneurship. This study employs a qualitative library research approach with descriptive-analytical, conceptual, and philosophical methodologies. Secondary data is drawn from classical and contemporary fiqh muamalah texts, academic research, and digital resources. The data is analyzed systematically and normatively to explore key principles and methods for enforcing e-commerce legitimacy. The findings reveal six core principles essential for ensuring legitimacy in e-commerce: (1) mutual benefits for all parties, (2) mutual consent in transactions, (3) transparency in product and service information, (4) justice in avoiding any form of oppression, (5) excellent customer service, and (6) ethical behavior in business activities. These principles ensure compliance with Sharia and foster trust and fairness in digital marketplaces. The study concludes that enforcing e-commerce legitimacy principles is critical for addressing challenges in digital transactions and aligning them with Islamic entrepreneurial ethics. This contributes to prosperity (falah) for both sellers and buyers in worldly and spiritual contexts. Future research should focus on developing practical frameworks for applying these principles across various e-commerce platforms to enhance sustainability and compliance in the Islamic digital economy.Keywords: Digital Transformation, Islamic Entrepreneurship, E-Commerce Legitimacy, Sharia Compliance, Marketplace Ethics
Socio-Spiritual Dimensions and Principles of Islamic Economic Law in Guidance of Pilgrims of the Wadi Fatimah Hajj Guidance Group Cirebon Afif Muamar; Muhammad Feby Ridho Pangestu
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 10 No. 1 (2025)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v10i1.18243

Abstract

This study aims to analyze the spiritual motives of pilgrims as a driver of innovation in hajj guidance, the transformation of the meaning of hajj through the internalization of Sharia socio-economic values, and the integration of a holistic community-based hajj guidance model in the Wadi Fatimah Cirebon Hajj Guidance Group. This study uses an interpretive qualitative approach to understand the social and spiritual experiences of pilgrims in the Wadi Fatimah Cirebon Hajj Guidance Group. Data were collected through observation, interviews, and documentation, then analyzed using the Miles and Huberman model to capture the meaning, patterns, and relationships between social, spiritual, and legal aspects in hajj practice. The study finds that: (1) the spiritual motives of pilgrims in Wadi Fatimah are driven by personal awareness rather than social pressure or status seeking, with the group playing a key role in integrating maqāṣid al-syarī‘ah and Islamic economics, supported by ethical governance and community empowerment; (2) The meaning of hajj has evolved from being a ritual to a social practice, with the group fostering both spiritual piety and socio-economic awareness through Sharia values and collaboration with state law; (3) The effectiveness of hajj guidance lies in its ability to build a holistic institutional model responsive to social dynamics. Wadi Fatimah successfully integrates spirituality, education, economic literacy, and social networks to bridge maqāṣid al-syarī‘ah with state regulations.Keywords: Socio-Spiritual Dimension; Hajj Worship; Hajj Guidance Group; Muamalah; Maqāṣid al-Syarī‘ah
Analysis of the Dynamics of Sharia Economic Law Regulation in Indonesia Helmi Fitriansyah; Koko Komaruddin
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 9 No. 2 (2024)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v9i2.18257

Abstract

The regulation of Sharia economic law in Indonesia reflects the government’s commitment to aligning financial and economic systems with Islamic principles. These regulations aim to foster transparency, financial stability, consumer protection, and innovation in Sharia-compliant financial products and services. This study employs a literature review approach, analyzing Indonesian legislation, regulatory updates from the Financial Services Authority (OJK), and relevant academic literature to understand the dynamics and development of Sharia economic law. The findings highlight the dynamic evolution of Sharia economic law, driven by regulatory reforms and the growth of Islamic financial institutions. Key areas of focus include advancing Sharia financial technology (fintech), enhancing Sharia financial literacy, and strengthening international cooperation. Regulatory updates by OJK emphasize transparency, accountability, and consumer protection, while fostering innovation to meet complex market demands. Despite significant progress, challenges remain in implementing oversight mechanisms and integrating technological innovations. The development of specialized regulations covering areas like waqf, zakat, and Islamic banking underscores the dynamic interaction between societal demand and regulatory responses. Sharia economic law regulations in Indonesia play a pivotal role in national economic development.Keywords: Sharia Economic Law, Regulation, Dynamics, Financial Technology.
The Impact of Intellectual Assets, Islamic Sustainability Reporting, and Green Performance on Sharia-Based Corporate Value Yuni Mayanti; Iwan Setiawan; Setia Mulyawan
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 10 No. 1 (2025)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v10i1.18290

Abstract

This study examines the impact of intellectual assets, Islamic sustainability reporting, and green performance on the corporate value of firms listed on the Jakarta Islamic Index (JII), with a particular focus on their alignment with Sharia principles. As key contributors to national economic growth, these firms face increasing competition that necessitates value creation grounded in ethical and sustainable practices. Employing a quantitative approach, this research utilizes purposive sampling to select 10 companies from a population of 30 Sharia-compliant firms. Data were analyzed using panel data regression with E-Views 12 software. The results reveal that individually, intellectual assets, Islamic sustainability reporting, and green performance do not significantly influence corporate value; however, collectively, these factors exert a significant and positive effect. This underscores the importance of integrating intangible resources with Sharia-based sustainability and environmental responsibility to enhance corporate valuation. The study highlights how adherence to maqāṣid al-sharī‘ah—particularly the preservation of wealth, life, and environment—can inform corporate strategies in Islamic capital markets. The findings provide empirical insights and a robust regression model useful for investors, regulators, and managers aiming to align financial performance with Sharia economic objectives.Keywords: Intellectual Assets; Islamic Sustainability Reporting; Green Performance; Corporate Value; Sharia Economics
Application of Mu'nah Rahn Tasjily in Land Collateral: Integration of DSN-MUI Fatwa and Sharia Economic Principles Wasman Wasman; Sekar Elena; Ahmad Khoirudin; Abdul Fatakh; Fajar Setiawan
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 9 No. 2 (2024)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v9i2.18549

Abstract

This study investigates the application of mu’nah rahn tasjily in land collateral financing at Pegadaian Syariah KC. Cipto Mangunkusumo Cirebon, integrating the DSN-MUI Fatwa No. 68/DSN-MUI/III/2008 and the Compilation of Sharia Economic Law (KHES). Employing a qualitative approach with a normative-empirical methodology, the research combines literature reviews and field investigations. Primary data were collected through interviews with employees and managers, while secondary data included books, journals, and relevant documents. Data collection methods involved observation, structured interviews, and documentation, focusing on the implementation of mu’nah in land certificate financing for the year 2023. The findings reveal two types of rahn tasjily contracts, with one involving the determination of mu’nah based on the loan amount. In these contracts, the collateral submitted serves only as proof of ownership, while the pledger retains control over the physical collateral. However, an analysis of the DSN-MUI Fatwa indicates a deviation in practice at Pegadaian Syariah KC. Cipto Mangunkusumo, as mu’nah is calculated proportionally to the loan amount rather than independently. Furthermore, the KHES emphasizes time-based calculations for ijarah, suggesting the necessity of structured time limitations to prevent disputes and ensure compliance with Sharia principles. This study underscores the need for a more consistent application of Sharia guidelines in determining mu’nah to enhance transparency and fairness in Islamic financial practices.Keywords: Mu’nah Rahn Tasjily, Land Collateral, DSN-MUI Fatwa, Sharia Economic Law, Islamic Pawnshop Practices.
Comparative and Integrative Approach of Conventional and Islamic Economic Theories in Islamic Economic Law Development Jefik Zulfikar Hafizd; Yadi Janwari; Dedah Jubaedah
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 10 No. 1 (2025)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v10i1.18550

Abstract

Conventional economic theory, which began with Adam Smith's seminal work on the free market and the 'invisible hand,' evolved through the contributions of Keynesianism and monetarism, focusing on government intervention and money supply control, respectively. In contrast, Islamic economic thought is deeply rooted in the Qur'an and Sunnah, with early Islamic scholars like Ibn Khaldun emphasizing justice, balance, and social welfare as core economic principles. After a period of dormancy, Islamic economics was revived in the 20th century, presenting an alternative that integrates moral and ethical values within the economic system. This research examines the integration of conventional and Islamic economic principles, particularly their role in the development of Islamic law (Sharia) and its economic applications. By adopting a comparative and integrative approach, the study analyzes both systems' concepts, principles, and practices, relying on data from books, journals, articles, and other scholarly references. The findings highlight both the similarities and differences between conventional and Islamic economics and identify complementary elements that facilitate the creation of a more just and sustainable hybrid economic model. Integrating core Islamic economic values, such as the prohibition of usury (riba) and wealth redistribution (zakat), with conventional economic frameworks can promote a more equitable and sustainable economic system. This research concludes that the synthesis of conventional and Islamic economics, underpinned by Sharia principles, can lead to the development of a more efficient, ethical, and socially just economic model..Keywords: Conventional Economics; Islamic Economics; Comparison; Economic Integration; Economic Sustainability
Revitalizing Financial Freedom to Achieve a Sustainable Economy Based on Maqashid al-Shariah in Hifz al-Mal Ubaidillah Mansur; Dede Nurohman; Ahmad Muhtadi Anshor
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 9 No. 2 (2024)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v9i2.18582

Abstract

Global economic instability and poor financial planning have created significant challenges in achieving financial freedom, particularly in Indonesia, where low financial literacy, limited access to financial services, and inadequate savings exacerbate the issue. Integrating maqāṣid al-sharī‘ah, especially ḥifẓ al-māl, offers an ethical and sustainable framework for addressing these challenges and achieving inclusive financial freedom. This qualitative study employs a case study approach, utilizing data from academic journals, reports from international organizations, interviews with Islamic economics experts, and supporting statistics. The findings reveal that Sharia principles in investment and wealth management enhance financial inclusion, stability, and public trust. The principle of ḥifẓ al-māl safeguards assets and promotes responsible financial practices aligned with ethical and social objectives. By incorporating maqāṣid al-sharī‘ah in financial planning, individuals and societies benefit from improved well-being and sustainable economic development. This study highlights the synergy between financial freedom and sustainability, emphasizing education, justice, and resource efficiency as core strategies. Policymakers and individuals are encouraged to adopt sharia-compliant financial practices for long-term prosperity. While offering valuable insights, the study acknowledges its limitations and calls for further research on the role of digital financial technology in enhancing financial inclusion under maqāṣid principles.Keywords: Financial Freedom, Maqāṣid al-Sharī‘ah, Ḥifẓ al-Māl, Sustainable Economy, Financial Inclusion
Mawah Practices in Aceh: Syariah Legitimacy Based on Fatwas and Islamic Jurisprudence Maksalmina Maksalmina
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 9 No. 2 (2024)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v9i2.18816

Abstract

This study aims to identify mawah practices in Acehnese society and analyze their legitimacy based on the Ulama Consultative Council’s fatwas and Islamic jurisprudence. This research employs a field research design with a normative approach, focusing on four districts in Pidie Regency. Data were collected through observations and interviews with landowners and cultivators and analyzed using the Miles and Huberman model. The analysis is grounded in relevant Islamic jurisprudential principles, such as qiyas (muzara’ah to mudharabah) and the rule of al-ashlu fi al-muamalat al-ibahah hatta yadulla ad-dalilu ala khilafihi. The findings show that mawah umong (rice fields) is a collaborative contract between landowners (malik) and cultivators, where profit-sharing agreements are based on the harvest yield, the land’s condition, and its location. Mawah umong is categorized into five types: mawah pajoh asoe, mawah bulueng dua, mawah bulueng lhee, mawah bulueng peut, and mawah bulueng limeng. The study confirms that most mawah practices fulfill the requirements of Shariah contracts and align with Islamic jurisprudence. Academically, this research contributes by validating mawah practices as legitimate cooperative mechanisms rooted in traditional Acehnese customs while providing a framework for their evaluation based on Islamic principles.Keywords: Mawah Practices, Ulama Consultative Council’s Fatwa, Pidie Regency
Relevance of Inflation Control According to M. A. Mannan With Law No. 3 Of 2004 Mabruri Andatu; Tajul Arifin
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 9 No. 2 (2024)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v9i2.18832

Abstract

This research is motivated by the frequent inflation challenges faced by Indonesia, attributed to the limited integration of sharia principles in maintaining economic stability. The study aims to analyze the compatibility of M. A. Mannan's inflation control mechanisms with the provisions of Law No. 3 of 2004 on Bank Indonesia, particularly Article 10 Paragraph 1. Mannan's concept offers a mechanistic approach to understanding the factors affecting inflation and effective control methods. This study examines the alignment between Mannan's principles and existing legal frameworks, including the role of Bank Indonesia in ensuring price stability. The findings reveal that, despite theoretical and practical differences, Mannan's proposed mechanism complements the strategies outlined in the law, providing valuable insights for effective monetary policymaking. This research adopts a normative juridical approach and descriptive analysis method, with data collected and analyzed using qualitative techniques. The results indicate notable differences and similarities between Indonesia's inflation control and Mannan's monetary policy concept. The findings underscore the importance of integrating Mannan's approach into Indonesian monetary policies to enhance inflation control and national economic stability.Keywords: Inflation Policy, Islamic Economy, M.A.Mannan, Bank Indonesia, Price Stability
The Impact of Attractions, Amenity, and Accessibility on the Destination Image of Keraton Kanoman from the Perspective of Maqashid al-Syariah Dewi Fatmasari; Yati Haryati
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 9 No. 2 (2024)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v9i2.18841

Abstract

This study examines the impact of attractions, amenities, and accessibility, both partially and simultaneously, on the destination image of Keraton Kanoman Cirebon from the perspective of Maqashid Al-Syariah. A mixed-method approach was employed, utilizing questionnaires and multiple linear regression analysis. The population included tourists, market traders, tourism actors, local government representatives, and related agencies. The findings reveal that attractions and accessibility significantly impact the destination image, while amenities do not significantly affect it. Simultaneously, the three variables collectively contribute to shaping the destination image of Keraton Kanoman. Moreover, the management strategies implemented to enhance the destination image include organizing cultural and religious events such as the Nusantara Palace Festival, Panjang Jimat rituals, and celebrations of religious holidays. These efforts align with Maqashid Al-Syariah principles by promoting religious protection (hifz dien), intellectual enrichment (hifz aql), and economic empowerment (hifz al-maal). The study highlights the need for improved accessibility and the development of supporting amenities to further bolster the image of Keraton Kanoman as a heritage tourism destination.Keywords: Attractions, Accessibility, Destination Image, Maqashid Al-Syariah, Heritage Tourism.