Journal of Islamic Economic Insights
Journal of Islamic Economic Insights (JIEI) is a peer-reviewed academic journal dedicated to publishing high-quality scholarly research in the fields of Islamic economics, Islamic finance, halal business, socio-economic development, and related areas of economics, business, management, and public policy. The journal aims to provide an academic platform for researchers, practitioners, policymakers, and scholars to advance knowledge and critical discussion on Islamic economic thought, financial systems, ethical business practices, and sustainable socio-economic development. JIEI welcomes theoretical, empirical, conceptual, and applied studies that examine economic and business issues through Islamic perspectives, as well as interdisciplinary research that connects Islamic economics with contemporary global challenges. The journal encourages manuscripts that contribute to the development of Islamic economic theory, strengthen Islamic financial practices, support halal industry growth, and promote justice, sustainability, inclusiveness, and ethical governance in economic life. The scope of Journal of Islamic Economic Insights (JIEI) includes, but is not limited to, the following areas: Islamic economics and Islamic economic thought Islamic finance, banking, takaful, and capital markets Shariah-compliant financial innovation and fintech Zakat, waqf, sadaqah, and Islamic social finance Halal business, halal supply chain, and halal industry development Islamic entrepreneurship, SMEs, and family business Islamic accounting, auditing, and corporate governance Business ethics, Shariah governance, and institutional studies Microeconomics and macroeconomics from Islamic and conventional perspectives Development economics, poverty alleviation, and emerging markets International economics, trade, and finance Monetary, fiscal, and public policy Corporate finance and financial markets Strategic management and business policy Marketing, consumer behavior, and digital marketing Human resource management and organizational behavior Operations, supply chain, and business analytics Innovation management and technology adoption Sustainability, ESG, and responsible business Tourism economics, halal tourism, and service management Public sector management and socio-economic policy Interdisciplinary studies linking Islamic economics, business, finance, society, and public policy The journal accepts original research articles, conceptual papers, literature reviews, systematic reviews, bibliometric studies, case studies, and policy-oriented papers. Submissions may use quantitative, qualitative, mixed-method, comparative, or interdisciplinary approaches, provided that they demonstrate originality, methodological rigor, theoretical contribution, and relevance to the journal’s focus. Journal of Islamic Economic Insights (JIEI) particularly encourages manuscripts that address contemporary economic and business challenges from Islamic, ethical, and socially responsible perspectives. The journal seeks to support scholarly contributions that promote inclusive development, financial justice, sustainable business practices, halal ecosystem advancement, and the integration of Islamic values into economic and organizational decision-making.
Articles
20 Documents
<![CDATA[Islamic microfinance: A review of the emerging agricultural market in the ASEAN market ]]>
<![CDATA[Dimvy Rusefani Asetya]]>
<![CDATA[ Journal of Islamic Economic Insights Vol. 1 No. 1 (2025): January 2025 ]]>
Publisher : <![CDATA[PRIVIETLAB ]]>
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DOI: 10.55942/jiei.v1i1.288
<![CDATA[Islamic microfinance presents a burgeoning opportunity to address financial exclusion among millions of impoverished Muslims by providing financial services. This paper explores the intersection of Islamic microfinance with the agricultural market in the ASEAN region, where smallholder farmers constitute a significant demographic. While the potential of Islamic microfinance to empower farmers and promote sustainable practices is acknowledged, there remains a gap in understanding its tailored implementation and impact within the ASEAN agricultural context. By synthesizing existing literature, this review underscores the need for further research to elucidate the specific mechanisms, challenges, and impacts of Islamic microfinance in supporting agricultural development and poverty alleviation in ASEAN countries.]]>
<![CDATA[Integrating sharia financial mechanisms with indonesia's halal economy: Opportunities, challenges, and strategies for sustainable growth ]]>
<![CDATA[Cecep Bryan Firdaus]]>
<![CDATA[ Journal of Islamic Economic Insights Vol. 1 No. 1 (2025): January 2025 ]]>
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DOI: 10.55942/jiei.v1i1.289
<![CDATA[This study emphasizes the interconnected relationship between the Halal Economy and Islamic Financial Mechanisms, proposing that Indonesia should strategically incorporate Sharia financial mechanisms to advance its halal economy. By following Islamic finance principles, Indonesia can allure foreign investment, encourage ethical business conduct, and fulfil the increasing demand for halal products and services worldwide. Despite advancements in Indonesia's halal industry development, challenges such as the requirement for specialized expertise and strong regulatory frameworks continue to exist. However, through deliberate integration and targeted investments in education and infrastructure, Indonesia can establish itself as a key player in the global halal market. This will drive economic growth, while improving sustainable development efforts and enhancing global competitiveness.]]>
<![CDATA[Blockchain and Islamic Finance: Innovating Within Tradition ]]>
<![CDATA[Mochamad Dandi]]>
<![CDATA[ Journal of Islamic Economic Insights Vol. 1 No. 1 (2025): January 2025 ]]>
Publisher : <![CDATA[PRIVIETLAB ]]>
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DOI: 10.55942/jiei.v1i1.290
<![CDATA[The financial sector is at a crossroads, merging emerging technologies with the traditional principles of Islamic finance governed by Shariah law. This study examines the integration of blockchain technology to bolster transparency, security, and efficiency in Islamic financial systems while upholding Shariah compliance. Through a comprehensive literature review of reputable sources such as Emerald and IEEE Xplore, our findings highlight blockchain's potential to streamline Shariah-compliant processes, enhance financial inclusion, and drive innovation, addressing key challenges faced by the industry.]]>
<![CDATA[Sharia economy as a model for Palestinian development: An international political economy perspective ]]>
<![CDATA[Fawaz Muhammad Khaer]]>
<![CDATA[ Journal of Islamic Economic Insights Vol. 1 No. 2 (2025): July 2025 ]]>
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DOI: 10.55942/jiei.v1i2.291
<![CDATA[This study investigates the pursuit of economic self-determination in Palestine by advocating economic principles that adhere to Shariah principles. This analysis critically examines the importance of economic sovereignty and the potential consequences of global political dynamics for Palestine's economic development. This research highlights the critical role played by a wide range of international stakeholders, including financial institutions, governmental entities, and non-governmental organizations (NGOs), in supporting Palestine’s economic progress. Moreover, this emphasizes the critical nature of addressing the fundamental shortcomings of the Palestinian economy and cultivating sustainable economic growth. Furthermore, this study examines the capacity of economic methodologies that adhere to Sharia principles to aid in attaining Palestinian economic self-determination. It explicitly emphasizes principles, including ecological sustainability, societal accountability, and fairness.]]>
<![CDATA[Digital transformation and sustainable development: Empowering emerging Islamic economies through the creative economy ]]>
<![CDATA[Fajar Juanda Matroji]]>
<![CDATA[ Journal of Islamic Economic Insights Vol. 1 No. 2 (2025): July 2025 ]]>
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DOI: 10.55942/jiei.v1i2.292
<![CDATA[This literature review investigates the intersection of digital transformation, sustainable development, and the creative economy in emerging Islamic economies. It explores how digital transformation can foster economic empowerment and sustainable development within Islamic finance. Integration of digital technologies in finance, commerce, and public services promises inclusive growth and efficiency. The review also examines the creative economy's role in fostering innovation, resilience, and societal development. Furthermore, it discusses incorporating Sustainable Development Goals into the Islamic economy, aligning principles of social justice, ethical conduct, and sustainability. Embracing SDGs, Islamic economies aim to eradicate poverty, promote gender equality, and ensure sustainable industrialization. The review highlights the creative economy's role in socio-economic development, job creation, and cultural preservation in Islamic economies. It offers insights and recommendations for policymakers, industry leaders, and stakeholders to advance digital transformation, sustainable development, and economic prosperity in emerging Islamic economies.]]>
<![CDATA[Shariah-compliant cryptocurrency: Navigating opportunities and challenges at the intersection of Islamic finance and digital innovation ]]>
<![CDATA[Olivia Putri Dahlan]]>
<![CDATA[ Journal of Islamic Economic Insights Vol. 1 No. 1 (2025): January 2025 ]]>
Publisher : <![CDATA[PRIVIETLAB ]]>
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DOI: 10.55942/jiei.v1i1.293
<![CDATA[The emergence of cryptocurrencies, driven by technological advancements and the rise of electronic business (e-business), presents both opportunities and challenges for Islamic finance. Cryptocurrencies, such as Bitcoin, have introduced novel digital assets that facilitate fast, borderless, and secure transactions without traditional financial intermediaries. However, their compatibility with Islamic finance principles governed by Shariah law remains a subject of debate. While some scholars argue against cryptocurrencies because of speculation and lack of intrinsic value, others explore the potential for Sharia-compliant solutions backed by tangible assets. Despite challenges, such as regulatory uncertainty and value fluctuations, blockchain technology offers transparency and security, aligning with Islamic finance's emphasis on ethical and equitable dealings. Recommendations include continued research, the development of Shariah-compliant cryptocurrencies, education initiatives, regulatory clarity, and embracing innovation to enhance financial inclusion. By implementing these recommendations, Islamic finance can navigate the complexities of cryptocurrency integration, while upholding Shariah principles and fostering inclusive economic growth. ]]>
<![CDATA[Addressing Sharia issues in cryptocurrency: Analyzing the case of Bitcoin and Blockchain Technology ]]>
<![CDATA[Sahara Putri Dahlan]]>
<![CDATA[ Journal of Islamic Economic Insights Vol. 1 No. 1 (2025): January 2025 ]]>
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DOI: 10.55942/jiei.v1i1.294
<![CDATA[The emergence of cryptocurrency and blockchain technology has spurred significant advancements in the financial sector, raising questions regarding their compatibility with Sharia law. This study examines the convergence of cryptocurrencies, blockchain technology, and Sharia law, with an emphasis on assessing the compatibility of digital currencies with the principles of Islamic banking. The primary objective is to assess the feasibility of aligning cryptocurrencies, specifically Bitcoin, with Sharia law, and the ethical and operational criteria of Islamic finance. This study analyses the current body of literature and case studies on blockchain technology and its implementation in the Islamic financial system. This study highlights the primary difficulties associated with riba (interest), gharar (uncertainty), and maysir (gambling) in cryptocurrency, which may contradict Sharia rules. The study suggests possible remedies, such as employing different validation methods to reduce concerns related to riba and maysir and linking digital currency to tangible assets to tackle volatility. The main conclusions indicate that standard cryptocurrencies encounter difficulties in conforming to the Sharia norms. However, it is possible to create Sharia-compliant digital currencies (SCDCs) by emphasizing ethical and functional factors. Sovereign Central Digital Currencies (SCDCs) have the potential to serve as reliable and morally sound substitutes for traditional government-issued currencies in countries with Muslim populations and beyond. The article continues by highlighting the necessity for additional investigation into the development of SCDCs, examination of asset-backed currencies, and incorporation of blockchain technology in Islamic banking. These advancements have the capacity to transform Islamic finance and make significant contributions to a global economy that is more ethical, transparent, and sustainable]]>
<![CDATA[Does sustainability pay off for Sharia companies? Unveilling the nexus between sustainability performance and firm value ]]>
<![CDATA[Rifqi Aqil Asyof]]>
<![CDATA[ Journal of Islamic Economic Insights Vol. 1 No. 2 (2025): July 2025 ]]>
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DOI: 10.55942/jiei.v1i2.295
<![CDATA[This study aims to analyze the influence of sustainability on the firm value of Sharia-compliant companies in Indonesia. Panel data regression with a fixed effect model is employed to address this objective. The research findings suggest that sustainability aspects do not significantly affect firm value for several reasons, including a lack of understanding, obstacles during the translation process, uncertainty in the regulatory framework for sustainability projects in Indonesia, and the absence of evident financial rewards for sustainability efforts. Based on these findings, policymakers should proactively encourage the implementation of sustainable practices among Sharia-compliant enterprises in Indonesia. Specifically, education and training programs should be designed to increase the knowledge and comprehension of sustainability principles among corporate executives and staff.]]>
<![CDATA[A conceptual framework for measuring e-banking service quality and customer satisfaction: Integrating SERVQUAL and TAM in the context of Nepal ]]>
<![CDATA[Laba Kumar Shrestha]]>;
<![CDATA[Ram Paudel]]>;
<![CDATA[Rajesh Paudel]]>
<![CDATA[ Journal of Islamic Economic Insights Vol. 1 No. 2 (2025): July 2025 ]]>
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DOI: 10.55942/jiei.v1i2.526
<![CDATA[This conceptual paper develops a comprehensive framework for analyzing service quality and customer satisfaction in Nepal’s e-banking industry by modifying the SERVQUAL model with the Technology Acceptance Model (TAM). Despite the spread of e-banking adoption, especially in urban areas, the quality of digital services is still uneven, which can be explained by the lack of infrastructure, digital literacy, and existing security issues. The suggested framework integrates five fundamental SERVQUAL dimensions–reliability, responsiveness, assurance, tangibles, and empathy–with TAM constructs, such as trust, perceived usefulness, and perceived ease of use. Trust was set as a mediating variable, and access to digital infrastructure was appointed as a contextual moderator. The purpose of this study is to provide a formal foundation for further empirical verification using structural equation modeling. The proposed framework provides a theoretical approach to improving digital banking strategy and creating user trust, and thus can enhance inclusive financial participation in developing economies such as Nepal.]]>
<![CDATA[The Islamic banking system as a stabilizing force in contemporary countries ]]>
<![CDATA[Rodrigo Bochner]]>
<![CDATA[ Journal of Islamic Economic Insights Vol. 1 No. 2 (2025): July 2025 ]]>
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DOI: 10.55942/jiei.v1i2.634
<![CDATA[The Islamic banking system offers a distinctive financial alternative rooted in Islamic law (Sharia) and emphasizes ethical finance, equity, and social justice. This study argues that Islamic banking can serve as a stabilizing force in a country’s economy, particularly during financial crises. By examining the unique principles and mechanisms of Islamic banking, including risk sharing and asset-backed financing, this study aims to highlight how these features contribute to economic resilience. Through a comprehensive literature review, case studies, and empirical analysis, this study identifies the potential of Islamic banks to mitigate economic instability and promote sustainable growth. The findings indicate that Islamic banking not only provides financial services but also fosters social cohesion and economic inclusivity in the banking sector. This study concludes with recommendations for policymakers and financial institutions to create KPI indexes that show the training of new scholars for the public and investors who will create new products for Islamic banking systems to enhance economic stability.]]>
