Al-Iqtishad: Jurnal Ekonomi Syariah

MACRO HERD BEHAVIOUR AND THE SIZE EFFECT: A COMPARATIVE ANALYSIS BETWEEN SHARIA (ISSI) AND NON-SHARIA STOCKS IN INDONESIA

2026-01-03T14:55:43+00:00

INTEGRATED BUSINESS MODEL FOR PESANTREN ECONOMIC INDEPENDENCE: CASE STUDY OF IDRISIYYAH ISLAMIC BOARDING SCHOOL TASIKMALAYA

2026-01-03T14:30:33+00:00

PENGUATAN PERAN LEMBAGA EKONOMI SYARIAH MELALUI KEBIJAKAN BERKELANJUTAN

2026-01-03T14:57:04+00:00

Islamic economic institutions are expected to serve as key drivers of equitable and inclusive development grounded in the values of maq??id al-shar??ah. However, current realities indicate limited integration of sustainability principles and a dominant short-term profit orientation, which constrains the social contribution of Islamic institutions to public welfare. This study focuses on public policies aimed at strengthening the capacity and role of Islamic economic institutions in promoting a sustainable financial system; the implementation of sustainable governance (good governance) to enhance stability and public trust in Islamic financial institutions; the institutional integration of green finance and social finance; and cross-sector collaboration strategies among government, academia, and industry to reinforce an inclusive and globally adaptive Islamic economic ecosystem. The research employs a descriptive qualitative method using a literature review and policy analysis approach. The findings indicate that: (1) strengthening Islamic economic institutions requires comprehensive public policy synergies encompassing regulatory, fiscal, and social dimensions; (2) sustainable governance enhances the legitimacy and competitiveness of Islamic financial institutions; (3) the integration of green finance and social finance plays a strategic role in achieving a socially just and environmentally sustainable economic system; and (4) cross-sector collaboration is a critical factor in formulating adaptive policies aligned with maq??id al-shar??ah amid global change.

PENGARUH PEMBIAYAAN MUDHARABAH, MUROBAHAH, DAN MUSYARAKAH TERHADAP PERTUMBUHAN ASET BANK SYARIAH DI INDONESIA

2026-01-03T15:05:37+00:00

This research endeavors to scrutinize how mudharabah, murabahah, and musyarakah funding influence the increase in assets held by Islamic banks operating in Indonesia, employing the Autoregressive Distributed Lag (ARDL) methodology. Temporal data was dissected utilizing assessments of stationarity, cointegration tests via Bounds Test, alongside short-term and long-term projections. The outcomes reveal a cointegrated connection linking Islamic financial arrangements with the expansion of Islamic banking assets. When considering the immediate future, mudharabah funding notably impacts asset expansion, contrasting with murabahah and musyarakah, which do not exhibit notable effects. Looking at the extended horizon, murabahah funding is shown to have a favorable and substantial effect on the upswing of assets within Islamic banks, whereas both mudharabah and musyarakah indicate a positive yet non-substantial influence. These discoveries substantiate the ongoing prevalence of murabahah as the principal mechanism fueling the advancement of Islamic banks' asset portfolios throughout Indonesia.

PENYELESAIAN SENGKETA EKONOMI SYARIAH DI INDONESIA JALUR LITIGASI DAN NON-LITIGASI

2026-01-03T14:35:09+00:00

The rapid development of Islamic economic activities in Indonesia has given rise to a wider range of potential disputes, both due to differences in the interpretation of contracts and inconsistencies in the application of Islamic principles. This study stems from concerns about the uncertainty of dispute resolution forums, especially after changes in national regulations and the dynamics of DSN-MUI fatwas. Using a qualitative research method based on a literature review, this study examines laws, PERMA, DSN-MUI fatwas, and related academic literature. The results show that dispute resolution through litigation has been significantly strengthened after the enactment of Law No. 3/2006, Law No. 21/2008, and PERMA No. 14/2016, making the Religious Court the official institution authorized to handle sharia economic cases. On the other hand, non-litigation mechanisms, including deliberation, negotiation, mediation, conciliation, and arbitration through BASYARNAS, remain an important option due to their faster, more flexible nature and minimal potential for further conflict. An analysis of the DSN-MUI fatwa shows a development in the direction of dispute resolution, from initially emphasizing deliberation and arbitration to later opening up the possibility of litigation in the Religious Court. This finding highlights the importance of synchronization between state regulations, dispute resolution mechanisms, and fatwa provisions so that the resolution process can proceed in accordance with the principles of sharia justice.

IMPLEMENTASI ZAKAT PRODUKTIF DALAM PEMBERDAYAAN EKONOMI BERBASIS PENTAHELIX PADA BAZNAS KABUPATEN PEKALONGAN

2026-01-03T14:30:33+00:00

PENGARUH PEMBIAYAAN ULTRA MIKRO SYARIAH TERHADAP KESEJAHTERAAN NASABAH PADA PNM MEKAAR SYARIAH DI DESA TANJUNG LAUT

2026-01-03T14:30:33+00:00

This study was conducted to determine financing in improving customer welfare at PNM Mekaar Syariah in Tajung Laut Village. The purpose of this study is to understand the effectiveness of financing in helping customers improve their welfare at PNM Mekaar in Tanjung Laut Village. This study employs a quantitative approach, which is a field research type, as it gathers information through direct observation in the field and data management. The types of data used in this study are primary data and secondary data, while the data sources in this study were obtained from the results of observations, questionnaires and documentation directly to customers. Data analysis techniques were carried out using instrument tests, classical assumption tests and simple linear regression analysis tests.The results of this study indicate that customer income increased after taking financing from PNM Mekaar Syariah in Tanjung Laut Village, because PNM provides various services that help customers develop their businesses. The expenses of customers who take financing at PNM have also been met, including food and non-food expenses. Financing from PNM Mekaar Syariah in Tanjung Laut Village has not been fully able to improve the level of family education, because one of the customers has not met the educational needs of one of his children. The health level of the customer's family has been improved through this financing, as evidenced by a healthy lifestyle, routine check-ups, and the purchase of health products. PNM has also improved the welfare of financing customers in terms of housing conditions and facilities owned in the household, this is supported by the results of distributing questionnaires directly to customers.

KAJIAN QABDH DALAM TRANSAKSI EMAS DIGITAL (PERSPEKTIF HUKUM ISLAM DAN HUKUM POSITIF)

2026-01-03T15:04:28+00:00

This research discusses digital gold transactions in Indonesia which are growing rapidly along with the digitalization of the financial sector, with a focus on the validity of qabdh in the perspective of Islamic law. The main objective of this research is to understand the implications of Islamic law on the validity of qabdh in digital gold transactions as well as the application of the concept of ?urriyat al-ta?arruf in digital gold products. This research uses a qualitative method with a library research and conceptual approach, namely by reviewing the literature and formulating relevant legal concepts. The data used consists of primary legal materials, such as the Qur'an, Hadith, Fatwa DSN-MUI, POJK, Regulation of the Minister of Trade and scholars' opinions; as well as secondary legal materials in the form of books, journals, articles, and other scientific sources that support the study. The analysis technique used is content analysis by deeply examining the substance of related literature. The results show that the validity of qabdh in digital gold is acceptable in Islamic law as long as it fulfills sharia principles, including legal ownership and the right to use or transfer the asset, as regulated in the concept of hurriyat al-tasarruf.

PENGARUH TINGKAT INFLASI TERHADAP KINERJA SAHAM SYARIAH JAKARTA ISLAMIC INDEX (JII) DI BURSA EFEK INDONESIA

2026-01-03T14:30:33+00:00

JUAL BELI PADI DENGAN SISTEM HARGA URIP DALAM PERSPEKTIF EKONOMI ISLAM DI DESA TANJUNG TIGA

2026-01-03T15:12:25+00:00