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Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah
Published by Universitas Islam Negeri Siber Syekh Nurjati Cirebon
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.
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Articles 238 Documents
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Effectiveness of Zakat Distribution as a Sharia-Based Social Finance Instrument: Study BSI Scholarship Inspiration Program Rima Umami Hasibuan; Muhammad Syahbudi; Wahyu Syarvina
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 10 No. 2 (2025)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v10i2.21307

Abstract

Poverty remains a significant barrier to economic development and access to higher education, particularly among underprivileged families. As a sharia-based social finance instrument, zakat has the potential to alleviate these barriers by supporting educational access through targeted programs. This study examines the effectiveness of zakat distribution managed by BSI Maslahat through its educational initiative, the BSI Scholarship Inspirasi program, aimed at underprivileged university students in North Sumatra. The research analyzes the program’s effectiveness using four key indicators: target accuracy, program socialization, goal achievement, and monitoring. Employing a qualitative approach combined with standard effectiveness measurement and Confirmatory Factor Analysis (CFA) via JASP software, the study uses purposive sampling to select student awardees as respondents. The results show that the overall implementation of the program is categorized as highly effective, with the highest achievement in the monitoring indicator (94%), followed by target accuracy (92%), goal achievement (91%), and program socialization (89%). These findings indicate that zakat distribution through the BSI Scholarship Inspirasi functions effectively as a sharia-compliant social finance tool and has a positive impact on its beneficiaries in higher education institutions across North Sumatra.Keywords: Scholarship; BSI Maslahat; BSI Scholarship Inspiration; Zakat Fund; Effectiveness
Individual and Technological Factors Influencing Islamic Investment Decisions: A Maqāṣid al-Sharī‘ah Perspective Suci Ramadhana S. Br Sembiring; Andri Soemitra; Juliana Nasution
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 10 No. 2 (2025)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v10i2.21308

Abstract

The Islamic capital market is increasingly gaining attention as an investment alternative that aligns with Islamic principles. However, student participation in this market remains relatively low. This study aims to examine the influence of pocket money, technological innovation, and risk perception on investment decisions in the Islamic capital market. Employing a quantitative approach with a survey method, data were collected from 100 students at UIN North Sumatra through an online questionnaire distributed via Google Forms. The data were analyzed using Partial Least Squares (PLS) with the assistance of SmartPLS software. The results reveal that technological innovation has a positive and significant effect on investment decisions, indicating that advanced digital investment platforms, online education, and accessible information play a crucial role in encouraging student participation. In contrast, pocket money and risk perception do not exhibit significant influence, although both show moderate contributions. These findings suggest that enhancing technological access and digital literacy may be more effective in fostering Islamic investment behavior among students than focusing solely on financial capacity or risk attitudes. This study reflects how Islamic investment behavior among students supports the realization of Maqāṣid al-Sharī‘ah, particularly in preserving wealth (ḥifẓ al-māl) and intellect (ḥifẓ al-‘aql).Keywords:  Islamic Investment; Individual Factors; Technological Innovation; Risk Perception; Maqāṣid al-Sharī‘ah
The Influence of Service Quality, Price, and Brand on Customer Satisfaction in Hijab Fashion: An Islamic Law Perspective Syifa Maharani; Adi Mansah
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 10 No. 2 (2025)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v10i2.21967

Abstract

This study examines how service quality, price, and brand shape customer satisfaction in the hijab fashion market and interprets the findings through an Islamic law lens (maqāṣid al-sharīʿah). Using a mixed-methods design, we surveyed hijab consumers who had purchased at least twice in the last six months (n = 120; purposive sampling) and complemented the statistics with brief interviews/document reviews. Instruments passed validity–reliability checks and classical assumptions (normality, multicollinearity, heteroskedasticity). Multiple linear regression shows that service quality, price, and brand each have a positive, significant effect; jointly they are significant (F = 13.957, p < 0.001) with R² = 0.265 (Adjusted R² = 0.246), indicating moderate explanatory power. Interpreted normatively, service quality aligns with iḥsān–samḥah (courteous, facilitative service), fair and transparent pricing reflects ‘adl, and trustworthy branding embodies ṣidq–amānah; satisfaction is framed as tarāḍin, supported by khiyār (clear return/exchange). These values cohere with the maqāṣid emphasis on protecting wealth (ḥifẓ al-māl) and avoiding harm while realizing benefit (dar’ al-mafāsid wa jalb al-maṣāliḥ). Managerially, firms should strengthen after-sales service, price transparency, and honest brand communication, and operationalize Sharīʿah-compliant policies (e.g., clear product information and accessible returns) to foster sustainable satisfaction and loyalty.Keywords: service quality; price; brand; customer satisfaction; Islamic law; maqāṣid al-sharīʿah
Data Forgery in Indonesian E-Commerce: Harmonizing Sharia Principles and Positive Law for Consumer Protection Ika Atikah; Hadiat Hadiat; Dian Febriyani
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 10 No. 2 (2025)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v10i2.22089

Abstract

This article aims to analyze how the harmonization between Sharia principles and positive law can strengthen consumer protection against data forgery in Indonesian e-commerce transactions. The background of this study lies in the growing risks of identity manipulation, fictitious transactions, and consumer rights violations in the era of digital trade. Normatively, Sharia emphasizes honesty (sidq) and trustworthiness (amanah) as the foundation of contractual relations, while Indonesia’s positive law provides a formal framework through the ITE Law, the Consumer Protection Law, and the Personal Data Protection Law. The research applies a normative juridical method by examining legislation, fatwas, and relevant literature. The findings show that although positive law offers legal instruments, its enforcement remains weak; meanwhile, Sharia economic law underscores ethical compliance as the basis of protection. The academic contribution of this study is to offer a conceptual framework that integrates Sharia ethics with positive legal regulations to reinforce legal certainty, build consumer trust, and promote the sustainability of Indonesia’s digital economic growth.Keywords: Data Forgery; E-commerce; Consumer Protection; Sharia Economic Law; Positive Law
Human Trafficking as an Economic Crime in Aceh: An Islamic Economic Law Perspective on Qanun Jinayat and Gampong Justice Ayendri Serley Marcelia; Maskur Rosyid
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 10 No. 2 (2025)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v10i2.22125

Abstract

Human trafficking constitutes a severe form of economic exploitation and fundamentally contradicts the principles of maqāṣid al-sharī'ah, particularly the preservation of wealth (ḥifẓ al-māl) and life (ḥifẓ al-nafs). This crime harms victims physically and psychologically while undermining their economic rights and disrupting social and economic justice. From the perspective of Islamic economic law, human trafficking is a grave violation of the obligation to uphold economic justice and equitable wealth distribution—core elements of maqāṣid al-sharī'ah. This study aims to analyze and compare the effectiveness of these two legal approaches and to formulate a cooperative and justice-oriented model of resolution. Employing a descriptive qualitative method, data were collected through in-depth interviews, field observations, and document analysis in several regions of Aceh. The findings reveal that the Qanun Jinayat does not explicitly regulate human trafficking offenses, resulting in suboptimal law enforcement. Meanwhile, the Musyawarah Gampong mechanism often fails to ensure adequate protection for victims, creating space for perpetrator impunity. Based on these findings, the study recommends revising the Qanun Jinayat to include specific provisions on human trafficking, enhancing legal training for village authorities, and strengthening legal literacy among the public to bridge the gap between legal norms and social practices. This study positions human trafficking as a violation of the principles of Islamic economic law, which demand distributive justice and the prohibition of exploitation in economic activities. Keywords: human trafficking, Qanun Jinayat, Musyawarah gampong, customary law, justice
Revitalizing Agricultural Waqf for Sustainable Food Security: A Comparative Study of Indonesia and Turkey Abdul Muizz; Salina Kassim; Nazrul Hazizi Noordin
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 10 No. 2 (2025)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v10i2.22151

Abstract

Agricultural waqf represents a strategic instrument of Islamic social finance with the potential to support sustainable food security through asset-based and risk-sharing mechanisms. This study aims to analyze and compare agricultural waqf models in Indonesia and Türkiye, focusing on institutional governance, integration with Islamic finance, and their implications for food security outcomes. Using a qualitative comparative case-study approach, the research draws on document analysis, regulatory review, and semi-structured interviews with waqf stakeholders in both countries. The findings reveal that the effectiveness and scalability of agricultural waqf are determined less by land availability than by institutional quality, particularly nazhir professionalism, regulatory coherence, and state–market coordination. Indonesia’s agricultural waqf remains fragmented, characterized by weak documentation, limited financial integration, and reliance on voluntary management, while Türkiye demonstrates a more standardized and centralized governance legacy rooted in Ottoman waqf institutions. The study further finds that productive agricultural waqf requires a full-cycle financing architecture, in which zakat provides initial de-risking support, waqf functions as an asset-based risk absorber, and Islamic commercial finance supplies profit-sharing working capital through Shariah-compliant contracts such as muzāra‘ah and ijārah. Evaluated through the lens of maqāṣid al-sharī‘ah, particularly ḥifẓ al-nafs and ḥifẓ al-māl, agricultural waqf can contribute to sustainable food security when embedded within integrated value chains and outcome-oriented governance frameworks aligned with SDG 2.Keywords: agricultural waqf; sustainable food security; Islamic social finance; maqāṣid al-sharī‘ah; Indonesia–Türkiye comparison
Revitalizing the Indonesian Ulema Council’s Fatwa on the Protection of Intellectual Property Rights Urip Giyono; Ahmad Khoirudin; Saleh Abdul Qader Ali Bahumid
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 10 No. 2 (2025)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v10i2.22186

Abstract

Intellectual Property Rights (IPR) protection in Indonesia is largely operationalized through conventional statutory instruments. Since 2005, however, the Indonesian Ulema Council (MUI) has issued Fatwa No. 1/MUNAS VII/MUI/5/2005, which frames IPR infringement as an act of ẓulm and deems it ḥarām. This article examines the fatwa’s continuing relevance within Indonesia’s contemporary IPR regulatory landscape and identifies pathways to enhance its practical effectiveness as a normative complement to state-driven protection and enforcement. The study employs doctrinal (normative-juridical) research grounded in pragmatic truth theory and deductive reasoning. Legal materials are collected through library research and analyzed qualitatively using a conceptual approach to connect Sharia-ethical reasoning with positive-law structures. The findings show that legislative reforms across key IPR regimes have created misalignments between the fatwa’s statutory references and the current legal framework, thereby weakening its legal-formal coherence. The analysis further indicates that the fatwa would be more effective if its prohibitions and categories are reformulated using nomenclature corresponding to the KUHP and/or KUHPerdata and explicitly linked to existing administrative, civil, and criminal enforcement mechanisms within Indonesia’s national legal system.Keywords: intellectual property rights; MUI fatwa; revitalization; legal nomenclature; law enforcement
Profit-Sharing Practices in Catfish Farming: An Islamic Economic Law Analysis in South Sumatra Indonesia Silvia Ayu Awalia; Relit Nur Edi; Juhratul Khulwah
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 10 No. 2 (2025)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v10i2.22240

Abstract

This study analyzes profit-sharing practices in catfish farming in Srikaton Village, Buay Madang Timur District, East Ogan Komering Ulu Regency, South Sumatra, from the perspective of Islamic economic law. The main objective of this research is to examine the conformity of existing profit-sharing mechanisms with the principles of mudharabah as regulated in Islamic jurisprudence and sharia economic regulations. This research employs a qualitative field research approach using participatory observation, in-depth interviews, and document analysis. Data were collected from key informants consisting of capital owners, pond managers, and religious figures, and were analyzed using the Miles and Huberman interactive model. The findings indicate that profit-sharing practices in catfish farming are generally based on verbal agreements without written contracts, resulting in unclear contractual terms, limited cost transparency, and unilateral changes in profit-sharing ratios at the end of the production cycle. These practices do not fully comply with the fundamental principles of mudharabah, particularly contractual clarity, transparency (al-shafāfiyyah), and justice (al-‘adl). Changes in profit-sharing ratios without prior mutual consent potentially lead to injustice and undermine trust between the contracting parties. This study contributes to Islamic economic law by providing empirical evidence from the fisheries sector and highlighting the importance of formalized mudharabah contracts in rural economic activities. It recommends the implementation of written agreements, full cost transparency, and periodic review mechanisms to ensure fairness, legal certainty, and the sustainability of profit-sharing partnerships in accordance with sharia principles.Keywords: profit-sharing; catfish farming; Islamic economic law; mudharabah; transparency
Satisfaction-Mediated Effects of Halal Label, Product Quality, and Islamic Service on Customer Loyalty: Maqasid-Shariah Perspective Nur Muammalatul Fauzah; Ahmad Makhtum
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 10 No. 2 (2025)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v10i2.22250

Abstract

The rapid expansion of Indonesia’s halal food industry highlights the need to understand how halal compliance, product performance, and Islamic ethical values shape consumer behavior, particularly among Generation Z. This study examines the direct and indirect effects of Halal Labeling, Product Quality, and Islamic Service on Customer Satisfaction and Customer Loyalty at Richeese Factory Indonesia, employing a mixed methods sequential explanatory design. The quantitative phase involved 100 Generation Z respondents in East Java selected through purposive sampling, with data analyzed using validity and reliability testing, classical assumption tests, multiple linear regression, and the Sobel test. The results indicate that Product Quality and Islamic Service significantly influence Customer Satisfaction, whereas Halal Labeling does not. Customer Satisfaction significantly enhances Customer Loyalty and mediates the effects of Product Quality and Islamic Service but does not mediate the influence of Halal Labeling. The qualitative interpretation, guided by maqāṣid al-sharī‘ah, reveals that while halal certification fulfills ḥifẓ al-dīn and is legally mandated by the Halal Product Assurance Law (UU No. 33/2014), loyalty is primarily shaped through ṭayyib product quality (ḥifẓ al-nafs) and ethical service practices (ḥifẓ al-māl). The study underscores the need for integrative halal management that aligns regulatory compliance with experiential value to foster sustainable consumer loyalty.Keywords: Customer Loyalty; Customer Satisfaction; Halal Label; Islamic Services; Product Quality
The Influence of Halal Literacy, Religiosity, Influencer Marketing, and Price on Halal Cosmetic Decisions Dwi Putri Ayu Nur Aini; Luluk Hanifah
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 10 No. 2 (2025)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v10i2.22256

Abstract

The rapid growth of Indonesia’s halal cosmetic sector is driven by increasing halal awareness, religiosity, digital marketing, and fair pricing. However, empirical studies integrating behavioral factors with the Maqashid Shariah framework remain limited, particularly among Generation Z consumers. This study employs a mixed-method sequential explanatory design, beginning with a quantitative survey of 100 Gen Z consumers in East Java, followed by qualitative analysis to interpret the results through Islamic economic law and Maqashid Shariah principles. Quantitative data were analyzed using validity and reliability tests, classical assumption tests, multiple linear regression, and hypothesis testing with SPSS 26. The qualitative stage contextualizes findings within hifdz al-dīn, hifdz al-nafs, hifdz al-‘aql, hifdz al-nasl, and hifdz al-māl. The regression results show that Religiosity and Price have a positive and significant effect on purchasing decisions, while Halal Literacy and Influencer Marketing have positive but insignificant effects. Simultaneously, all variables significantly influence purchasing decisions, with an Adjusted R² of 0.792. Price is the most dominant predictor, followed by Religiosity. The findings indicate that Gen Z’s halal cosmetic choices are shaped by economic considerations and religious commitment consistent with Maqashid Shariah. Ethical pricing, credible influencers, and strengthened halal literacy enhance rational, safe, and sharia-compliant consumption. This study contributes to Islamic Economic Law by demonstrating how behavioral and normative factors jointly shape halal purchasing behavior and suggests strengthening halal literacy, BPJPH oversight, and DSN-MUI certification governance for a sustainable halal industry.Keywords: Halal Literacy; Religiosity; Influencer Marketing; Price; Purchasing Decision

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