cover
Contact Name
Sheema Haseena Armina
Contact Email
sheemahaseenaarmina@unida.gontor.ac.id
Phone
-
Journal Mail Official
iej@unida.gontor.ac.id
Editorial Address
Department of Islamic Economics Jl. Raya Siman, Demangan - Siman - Ponorogo - Jawa Timur, 63471 Telp/HP. +62 812 35797925 Email: iej@unida.gontor.ac.id URL: https://ejournal.unida.gontor.ac.id/index.php/JEI
Location
Kab. ponorogo,
Jawa timur
INDONESIA
Islamic Ecomonics Journal
ISSN : 24601896     EISSN : 25415573     DOI : -
Islamic Economics Journal (IEJ) is a national peer-reviewed and open access journal that publishes research papers encompasses all aspects of contemporary Islamic economics issues. This journal emphasizes specifications in the discourse of Islamic Public Economics, Islamic Monetery Economics, Islamic Business Economics, Islamic International Economics and Islamic Development Economics. This journal openly accepts the contributions of experts from related disciplines. All published articles do not necessarily represent the views of journals, or other institutions that have links to journal publications. This journal is intended to communicate the original researches and current issues on the subject. This journal warmly welcomes any contributions from scholars of the related issues.
Articles 305 Documents
An Empirical Study On The Influence Of Islamic Values On Money Demand (Case Study: University of Darussalam, Gontor and Mantingan Campus) Muhammad Fahmi Jauharuddin Rimas Sude; Khoirul Umam
Islamic Economics Journal Vol. 4 No. 2 (2018)
Publisher : University of Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (683.115 KB) | DOI: 10.21111/iej.v4i2.2967

Abstract

Chapra thought about money demand contains Islamic Values. The research on Chapra’s money demand has been done by some researchers such as Ebrinda and Sri Wahyuni, both researchers are in macro level, and the results of Ebrinda’s research is that social values have not significant effect on Islamic money demand in Indonesia and limit her research on social values, while the results of Sri Wahyuni’s research is that social values have not significant effect on money demand in the short term and significant effect in the long term. From here the researcher try to examine the effect of Islamic values on money demand in micro level at University of Darussalam Gontor, in addition to the pesantren system also has high Islamic values. The purpose of this study is to determine the effect of Islamic values on money demand from micro perspective. This research is quantitative research. In data collection, the researcher uses a questionnaire method. The data is analyzed by multiple linear regression method. The method is used to predict the value of a dependent variable based on the values of two or more variables. The results of research is that Islamic values have not significant effect on money demand. It’s proven by significance level which is still more than 0.05. The significance level of needs is 0.4, social values is 0.7, wasteful spending is 0.3 and savings is 0.3. While the variables that have significant effect are income with significance level 0.00, investment 0.00, and presupposition investment 0.04.
Efektifitas Pembiayaan Qarḍul Ḥasan Bagi Perkembangan Usaha Mikro Pada Baitul Maal Al-Amin, Kedungkandang, Kota Malang Alficha Roby Vabella; Rahmad Hakim; Fien Zulkarijah
Islamic Economics Journal Vol. 4 No. 2 (2018)
Publisher : University of Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (517.958 KB) | DOI: 10.21111/iej.v4i2.2968

Abstract

This study aims to analyze two things: first, the effectiveness of qarḍul ḥasan financing in Baitul Maal Al-Amin at Kedungkandang for Micro, Small and Medium Business Development (known as UMKM). Second, to know the impact of qardhul hasan financing for micro business development at Kedungkandang. This research using case study approach with the method of data collection is an interview, observation and documentation. While data analysis is qualitative data analysis technique using Miles and Huberman’s model. The results of this study indicate that qarḍul ḥasan financing in Baitul Maal Al-Amin at Kedungkandang is quite effective with the fulfillment of measurement of several indicators such as usability, accuracy and objectivity, scope, accountability, cost effectiveness, and timeliness. In addition, qarḍul ḥasan financing in Baitul Maal Al-Amin has a significant impact for micro business development at Kedungkandang with the growth of sales turnover which is seen from the income and the growth of custome, even though the growth of local labor and the expansion of the place are has low significant impact.
Islam’s Market Ideology: A Brief Outline Abdul-Rahim Mohammed Adada
Islamic Economics Journal Vol. 5 No. 1 (2019)
Publisher : University of Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (614.202 KB) | DOI: 10.21111/iej.v5i1.3665

Abstract

Many of the studies on the Islamic market doctrine have failed to integrate the idea within the broad social objective of its Islamic doctrinal origin. Consequently, the outcomes of such studies have only partially explicated the Islamic market theory. This brief study attempts to contextualize the Islamic market ideology within the broad social goal of the Islamic Shari’ah (law), in order to give it a more complete understanding. Using an interpretative approach that attempts to integrate market moral injunctions, pricing and profit, and price control, among others into the broader social doctrine of Islam, we established that the Islamic market ideology, broadly, seeks to promote the overall economic well-being of the members of society through creating fair opportunities for economic gains, enforcing the right to private property, and curbing exploitative tendencies of economic agents towards one another, among other things. Consequently, the Islamic market ideology is founded on the ideals of economic justice, which, generally, emphasize fairness as a moral duty enforceable by the state. It is further established that the individual has the right to engage in exchange activities and earn fair rewards, and this must not, ordinarily, be interfered with. However, when, in the course of exercising this right, the individual’s pursuit of self-interest puts the overall public welfare into jeopardy, the state is obliged to give public welfare precedence over individual self-interests. Thus, there is room for the state to intervene even in pricing; though, under normal circumstances, prices in the market should depend on the prevailing market conditions.
The Concept of Welfare From Siyasah Syar’iyyah Perspective and Its Implementation on Zakat Management in Indonesia Satria Hibatal Azizy
Islamic Economics Journal Vol. 5 No. 1 (2019)
Publisher : University of Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (524.508 KB) | DOI: 10.21111/iej.v5i1.3666

Abstract

The discourse on welfare is one discussion in economics that has been a concern for all countries in the world. By raising the issue of welfare, a government can legitimize its power. It is considered like ‘giving bread’ to the community, so that they are silent and obey to the government. In addition to that pragmatic purposes, the welfare issues also represent a moral dimension that the government pay attention to his people. In this regard, the United Nations with his UNDP formulating public welfare measure, which is called Human Development Index. Among the indicators of welfare according to this index are per capita income, long life span and level of education achieved. But behind it all, the understanding of welfare that is often understood in western economy have flaws. The welfare that is often used as a benchmark is the welfare with elements of materialism and hedonism without even the slightest attention to the religious element. It is shown from the majority-or even all-indicators of welfare that did not include religious aspects, and only made the mundane aspects as its main benchmark. This weakness shown by the phenomenon of the comforts of life in the world. Norway, a country that according to the HDI index is the most prosperous country, has a quite high suicide rate, at 28 people per 100,000 inhabitants. When compared with Egypt which ranks only 112th in the HDI, the rate of suicide is only 0.1 for each 100,000 inhabitants. This study aims to examine the concept of the budget in the perspective of siyāsah syari’iyyah and its implementation in the management of zakat in Indonesia. This paper concludes that maṣ laḥ ah is a concept in siyāsah syar’iyyah which is most appropriate in describing welfare. In the context of siyāsah syar’iyyah, zakat management in Indonesia has been regulated by the government through the Act. No. 23 of 2011, government rules. No. 14 of 2014 and derivative regulations of both. To improve the level of welfare or maṣ laḥ ah, the government also uses the CIBEST method which is integrated in the National Zakat Index, which also measures spiritual aspects in human life.
Analisis Uang Wariq Dalam Sosiologi Ilmu Pengetahuan Muhammad Alfan Rumasukun
Islamic Economics Journal Vol. 5 No. 1 (2019)
Publisher : University of Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (448.736 KB) | DOI: 10.21111/iej.v5i1.3667

Abstract

The current facts have shown that the sharia economic growth trend in Indonesia continues to increase, both on a macro and micro scale. That can happen through massive programs of education and sharia economic exhibitions in the midst of the academic community and the general public, as well as increasingly raising awareness of Muslims about the application of sharia in the economic field. The progress of Islamic finance seems to be inseparable from the use of exchange instruments, namely money made from gold and silver or commonly referred to as Dinar and Dirham money. It is in this context that some sharia economists have revived the use of dinars and dirhams as an alternative solution to the problem of modern banknotes. On the same occasion, in some literature, classical fiqh was allegedly a history of wariq money that had existed in Islam even long before the presence of Islam was seen by the Prophet. Wariq money was explicitly approved in the story of the faithful youth of the cave dwellers which were published in the Qur’an Surat al-Kahf verse 19. This study aims to: (1) get a complete picture of the concept of wariq money, and (2) to reveal the relevance of wariq money to sharia economics.The type of research used in this study is literature research with historical studies and reading texts from various classical and contemporary fiqh. In this context, the reference sources offered are a number of fiqh books from among the four fiqh schools which have been selected from the library collection of the Universitas Darussalam Gontor Primary School. To get complete data is done by the screening process and analysis of wariq terms from some of the fiqh books. Screening and analysis is done by collecting various primary references related to the discussion of the wariq, so as to enable a complete description of the term money wariq. This data is then processed and analyzed with the sociological theory of science to be approved by the validity of the overall money concept. The conclusions obtained from this study, wariq money is money made from silver in the form of sheets of paper that have been around since the time of kahfi ashabul. Second, wariq money is very relevant to be used as an alternative solution for the consideration of finance and state finances.
Analysis of The Effect of Amount of Money Supply (JUB), Exchange Rate, Profit Sharing And Interest Rate on The Inflation 2011-2017: Islamic and Conventional M1 Comparative Study Imam Haryadi; Wahid Ilhami
Islamic Economics Journal Vol. 5 No. 1 (2019)
Publisher : University of Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (735.96 KB) | DOI: 10.21111/iej.v5i1.3668

Abstract

Inflation is one of the effects of a prolonged economic crisis that hit any country. Inflation is a situation where there is an increase in general prices which continues over the long term. The objective of this research is to analyze the effect of the Amount of Money Supply and Exchange Rate, Interest Rate, Return Sharia against Inflation Rate in Indonesia. The type of this research is a quantitative study, research to explain the influence of independent variables to dependent variables. Dependent Variable used is Inflation Rate (percentages), Independent Variables are Money Supply, Exchange Rate (Indonesian Rupiah to US Dollar), Interest Rate, Return Sharia. The models will be calculated with VECM (Vector Error Correction Model) as it easy to calculate and interpret. In this case a correlation between dependent variables and independent variables. To determine the inflation rate effect from 2011-2017.The result of this research determines that in long term Independent variables has significant influence to Dependent variable (Inflation). Even in Islam and Conventional side. One of variable such as M1 in Islam has result 5.34041, its indicating that the result has significant value again inflation in the long term. While in Conventional side M1 value is 4.70475, that’s mean the result has significant too against inflation, cause the value both of them bigger than T Table. Another variable such as the exchange rate for the long term has negative influence to the inflation around -18.28331 which means exchange rate has significant influence to the inflation. Both of the last variables are interest and return sharia’ has significant too again inflation, the value around 0.443061 for interest rate, and 2.389915 for return sharia. It means both of these variables has significant values again inflation, cause of T Statistic bigger than T Table.
Strategi Bersaing Hotel Syari’ah, Pendekatan Manajemen Bisnis Syari’ah: Studi Pada Syari’ah Hotel Solo Azidni Rofiqo; Rahmani Timorita Yulianti
Islamic Economics Journal Vol. 5 No. 1 (2019)
Publisher : University of Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (570.462 KB) | DOI: 10.21111/iej.v5i1.3669

Abstract

Islamic sharia is the only guide for people’s life of the sake of maqasid sharia fulfillment. Indonesia is now seeking a way to boost the sector of sharia tourism. One of the measurements taken to do so is through the enhancement of sharia hotel sector. However, unstable financial and political constraints are known to hamper the sustainability of sharia hotel. Sharia Hotel Solo is claimed to be the biggest sharia hotel in Indonesia. However, we need to analyze its position in Solo since the city is known to have a heightened hotel sector competition without being entailed by an increased level of consumer. Thus, this research is primarily aimed at describing the competitive strategy applied by Sharia Hotel Solo in accordance with sharia business management. In addition, it also unravels the strengths, weaknesses, opportunities, and threats of the hotel through sharia business management. The research was conducted through the quantitative method. It was analyzed through Internal-External Factor Evaluation, SWOT. The results of IFE show that hotel’s internal condition was very good as value of IFE in 3.55. The external condition of the hotel also very good as a result of EFE analysis in value of 3.29. However, I-EFE analysis reveals that Sharia Hotel Solo was situated in Cell I, indicating that its competitive strategy was located in developing and building. The SWOT analysis reveals that it can utilize the opportunity with its strength and overcome the threat by enhancing its strength. Penginapan Ciawi. (2020). Retrieved 21 May 2020, from http://www.penginapanciawi.my.id/
Analisis Indikator Kinerja Zakat Community Development Dalam Rangka Pemberdayaan Mustahik Produktif Azizah Mursyidah
Islamic Economics Journal Vol. 5 No. 1 (2019)
Publisher : University of Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (494.119 KB) | DOI: 10.21111/iej.v5i1.3670

Abstract

This paper is a theoretical article that One of the zakah utilization problems is the short term need of mustahik. Zakah Community Development is one the productive program in BAZNAS aims to empower the poor in aspect education, health, economic and religion aspect. The problem of community program is how to measure the result of the performance of the program as well as outcome and also the impact of the implementation of the program. This study aims to measure the performance indicators of zakah community development to empower mustahiq’s in Indonesia, using ANP (Analytic Network Process). ANP is a qualitative and quantitative research methodology to empasize data collection on the view experts and practitioners, ANP is an easier methodology applied to qualitative study that diverse as decision making, forecasting, evaluation, mapping strategies, resource allocation, and others. Based on the result of zakah performance indicator of community development there are five indicators: (1) Institutional Indicator, (2) Strengthening community capacity Indicator, (3) Development community businesses Indicator, (4) Development of work Indicator, (5) assessment religion Indicator.The most important of ZCD’s Performance Indicators is the partnership development with 9.1% and 48.4 percent of the coefficients Kendalls of expert and practitioner. Meanwhile, improving ZCD’s performance indicator to empower mustahik in Indonesia is a must, this result can be able to be used as the consideration to increase the partnership value. The strategies to ZCD Performance Indicator are:(1) Cooperation multi-stakeholders zakah community development and programs, (2) innovation of ZCD’s program, (3) efficiency ZCD phases of the program.
Signifikansi Penerapan Literasi Ekonomi Islam di Perguruan Tinggi: Kajian Teoritis Ahmad Lukman Nugraha; Arie Rachmat Sunjoto; Adib Susilo
Islamic Economics Journal Vol. 5 No. 1 (2019)
Publisher : University of Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (451.756 KB) | DOI: 10.21111/iej.v5i1.3680

Abstract

Literacy at higher education institutions in Indonesia is at a low level where BPS 2018 data states that of the total Indonesian population aged 15 years and over who participated in higher education at 18.59% of the pure enrollment rate at the level of education in Indonesia. That means that Indonesians who continue their education to a higher level are lower than those who go straight to work after graduating from high school. The low level of literacy in general, is in line with the low economic literacy and Islamic economics, especially at Islamic higher education institutions. This is proven by the low knowledge of students about financial literacy that has an impact on individual financial management. Based on the background of the problem, the significance of Islamic economic literacy at universities in Indonesia needs to be studied and researched both theoretically and practically. Therefore, the purpose of this study is to describe the significance of literacy in higher education institutions in Indonesia. The method used in this research is descriptive qualitative with a literature approach used to study theories related to literacy so that it can emerge as to the significance of Islamic economic literacy in universities. The results of this study found that economic literacy is absolute necessity so students can compete globally and even become world-class inventors. But economic literacy alone is not enough, there needs to be values that keep economic activity on track in accordance with religious norms. Therefore, the literacy of Islamic economics in all aspects is an urgency that needs to be considered by individuals and educational institutions to be able to encourage people to help each other in economic independence with students as literacy agents.
Zakat dan Jizyah Sebagai Pengendali Sistem Moneter: Sebuah Kajian Konseptual Wahyu Nugroho; Syamsuri Syamsuri; Syamsuddin Arif; Dzul Fadli
Islamic Economics Journal Vol. 5 No. 2 (2019)
Publisher : University of Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (491.016 KB) | DOI: 10.21111/iej.v5i2.3809

Abstract

In the history of Islamic civilization, a state guarantees the resource availability through the role it's government, so it can maintain the welfare of its people. The government is free to determine the state’s income policy, which must be fair and not violate sharia. Among the state income policies in Islam are zakat and jizya. Zakat is imposed on Muslims, while jizya is on non-Muslims. History records that both can influence the monetary economy in Muslim countries. Principally, these two are not the same. So, the purpose of this research is to find the concept of zakat and jizya as monetary controllers. This research uses the qualitative method of historical approach, by using past data to understand the events that took place at the moment.The concept of zakat is worship for Muslims to get closer to God and purify the wealth. Meanwhile, jizya is required from non-Muslims as a form of obedience to the government which guarantees their lives in an Islamic state. Moreover, both can affect state's monetary. Because when a Muslim pays zakat, it will increase wealth distribution (aggregate demand), as a result, the recipient becomes prosperous, with the assumption that they will invest. This investment will shift the demand for money (aggregate supply) so that the number of goods and services also increases. Meanwhile, jizya is distributed to government operations including security, so that security can also increase public confidence in carrying out real economic activities, production, distribution, and consumption. Therefore, if zakat and jizya are managed properly, they will keep inflation down. Moreover, it can even eliminate the economic crisis and improve people’s welfare.