Journal of Sharia Economics

ANALISIS PENGARUH SISTEM PAYLATER TERHADAP SIKAP KONSUMTIF MASYARAKAT DARI SUDUT PANDANG HUKUM EKONOMI SYARIAH

Syarifah Lisa Andriati — 2024-10-04

In this era, human life is heavily influenced by technology, especially in terms of business. The use of PayLater, which means "buy now, pay later," is one example of the use of advanced technology in the business world. With technological advances in the modern era, especially e-commerce payment systems, SpayLater is becoming increasingly popular. PayLater is a purchase method that allows payments to be made later in a given period of time. In Islamic law, this is called the sale of Istijrar. However, scholars argue that it is a violation of the sale system when the goods to be bought are unknown to the buyer and there are new buyers who want to buy the same goods and set the price after summing up all the prices to pay. In fact, SpayLater can be permitted if the price of the goods has been determined after both parties involved in the transaction prove that the price is consistent with and in accordance with Islamic rules. This research aims to find out how PayLater transactions are used and how Islamic law views such actions. The method used is qualitative descriptive research, in which the author uses library studies, i.e., scientific references from books, national and international journals, al-Qur'an and Hadiths, and fiqih books. Because of its ease of use, SpayLater can make people prefer to buy something, which in turn will encourage them to make online debts. Therefore, knowing the potential risks, customers should be wise in distinguishing between needs and desires.

ANALISIS HARGA ADIL PADA PASAR SEMPURNA

Muti Hasanah — 2024-10-04

Pasar adalah sebuah mekanisme untuk pertukaran barang dan jasa yang sifatnya alami. Harga pasar dibentuk oleh berbagai faktor yang kemudian membentuk permintaan dan penawaran barang dan jasa. Permintaan konsumen dipengaruhi oleh banyak faktor, seperti harga, pendapatan konsumen, selera, harapan dan tingkat mashlahah. Sedangkan penawaran produsen juga dipengaruhi oleh banyak faktor, seperti mashlahah, laba, dan harga. Interaksi antara penawaran dan permintaan yang akan membentuk titik keseimbangan dapat diubah dari sisi permintaan atau penawaran, baik sebagai akibat dari deviasi terstruktur maupun deviasi yang tidak terstruktur. Pasar persaingan sempurna akan dapat menghasilkan harga yang adil bagi penjual dan pembeli. Oleh karena itu, jika mekanisme pasar terganggu, maka keadilan harga tidak akan bisa tercapai. Islam menempatkan pasar pada posisi yang penting dalam ekonomi. Dan juga Islam sangat memperhatikan dengan konsep harga yang adil dan mekanisme pasar yang sempurna. Maka peranan pemerintah sangat penting untuk lebih menjamin aktivitas mekanisme pasar secara sempurna seperti mengambil kebijakan intervensi harga yang tetap berpijak kepada keadilan.

TAX AMNESTY SEBAGAI KEBIJAKAN FISKAL: DITINJAU DARI ASPEK MASLAHAT

Siti Nurul Hanapiah — 2024-10-04

Salah satu kebijakan yang diterapkan yakni kebijakan fiskal atau kebijakan yang mengatur pengeluaran dan pemasukan pemerintah. Pada praktiknya, pajak menjadi salah satu instrument penyumbang pendapatan negara terbesar. Jika pengeluaran pemerintah lebih besar dari penerimaan pajak pada periode waktu tertentu maka pemerintah mengalami defisit anggaran. Tujuan dari penelitian ini adalah untuk mengetahui bagimana tax amnesty sebagai kebijakan fiskal yang ditinjau dari aspek maslahat. Maslahat dalam penelitian ini merujuk pada manfaat yang diperoleh negara dan masyarakatan dari penerapan kebijakan tax amnesty di Indonesia. Penelitian ini menggunakan metode penelitian kualitatif dengan pendekatan deskriptif. Hasil dari penelitian ini pemerintah mengeluarkan kebijakan tax amnesty atau pengampunan pajak merupakan salah satu strategi yang diterapkan dalam rangka penyadaran Masyarakat terkait kewajiban perpajakan. Pemberian tax amnesty merupakan strategi pemerintah menarik dana Masyarakat yang disimpan di perbankan negara lain. Dapat dipahami bahwa penerapan kebijakan ini memberikan manfaat atau maslahat baik bagi negara maupun masyarakat.

MACROECONOMIC ASPECTS IN INFLUENCING STOCK PRICE MOVEMENT ON THE INDONESIAN SHARIA STOCK INDEX 2018-2022

Padli Pawaid Yahya — 2024-10-04

This study aims to analyze the influence of macroeconomic variables and world oil prices in influencing stock price movements on the Indonesian Sharia Stock Index (ISSI) in 2018-2022. In this case, stock price movements can be influenced by several factors, one of which is macroeconomics. The research methodology used in this study is to use a quantitative research approach and secondary data type, with quarterly samples from each year 2018 to 2022 which amounted to. The research model carried out is log linear regression panel data analysis conducted through the chow test and classical assumptions using Eviews 10 tools. Based on the results of this study, it states that partially shows the variables of Inflation, BI Interest Rate Economic Growth (GDP) and Money Supply. While simultaneously all variables did not have a significant effect on the Indonesian Sharia Stock Index (ISSI).

STRENGTHENING ACCOUNTABILITY MECHANISMS IN WAQF INSTITUTIONS: A SYSTEMATIC LITERATURE REVIEW

Fauziyah Latiefa Salsabila — 2024-10-04

Waqf institutions have faced several challenges in carrying out their functions and duties, including accountability issues that may hinder the growth and sustainability of waqf institutions. This journal aims to conduct a methodical review of the being literature on strengthening responsibility or accountability mechanisms in waqf institutions. Designed as a systematic study, it reviews articles published on scopus and google scholar from 2014 to 2024. The findings of this journal can provide insights and suggestions for the strengthening of appropriate accountability mechanisms, and it is hoped that waqf institutions can contribute more effectively in fulfilling their social objectives and strengthening the presence of Islam in society. Based on the systematic literature review, the article identifies three main dimensions relating to waqf institutions, namely: processes, institutional framework, and reporting techniques. The literature analysis also highlights the importance of cooperation between internal and external parties in strengthening accountability mechanisms within waqf institutions.

THE EFFECT OF THIRD-PARTY FUNDS, FINANCING, AND EQUITY ON NET INCOME BANK MUAMALAT INDONESIA

Nurhayati Nurhayati — 2024-10-04

Third party funds, financing, and equity are important factors in some of the factors that influence net income, which take money from the public and then rechannel it into society. This research is aimed at knowing the impact Third-party fund, Financing, and Equity to Net income with research subject Bank Muamalat Indonesian period 2014-2023. This study employs multiple linier regression analysis and quantitative approaches. The study object is presented as published financial reports from Bank Muamalat Indonesia (2014-2023). And analyzed with the Eviews 12 statistical tool. The outcome of the study demonstrate Third-Party Funds a positive and significant effect on Net Income because the t-count value for Third-Party Funds > t-table is 2,9206 > 2,0280 and the significant value for Third-Party Funds < 0,05 is 0,0060 < 0,05. The result of Financing has a positive and insignificant impact on Net Income this is shown by the t-count value for Financing < t-table is 0,6558 < 2,0280 and the significant value for Financing > 0,05 is 0,5161 > 0,05. The results of Equity a negative and insignificant impact on Net Income because the t-count value of Equity < t-table is -0,1850 < 2,0280 and significant value for Equity > 0,05 is 0,8542 > 0,05. Simultaneously Third-party Funds, Financing, and Equity the effect Net Income, this is proven by the value significant F test 0,0007 < 0,05. The value of coefficient of determination (R²) is 0,3198 or 31,98%, which means that the Third-Party Funds, Financing, and Equity variables the effect net Income by 31.98%, while other factors not included in this study account for 68,02% of the explanation.

PERBANDINGAN RETURN PENGGUNAAN MOVING AVERAGE CONVERGENCE DIVERGENCE DAN RELATIVE STRANGE INDEX PADA INDEKS SAHAM SYARIAH INDONESIA

T.Syifa Fadrizha Nanda — 2024-10-04

This study compares the return levels from the use of the technical indicators Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) applied to the simulation of the movement of the Indonesia Sharia Stock Index (ISSI). This research is a population study using panel data in the form of daily closing values over 12 years of the Indonesia Sharia Stock Index movement. The data was processed using a technical analysis approach with two momentum indicators, MACD and RSI, to obtain buy and sell signals based on the principles of each indicator, applied to the ISSI. The use of the MACD and RSI technical indicators on the ISSI shows that MACD yielded a profit of 207% with a success rate (win rate) of 72%, while RSI provided a profit of 125% with a win rate of 55%.

PENGELOLAAN KEUANGAN RUMAH TANGGA DALAM EKONOMI ISLAM

Khuly Shofiana — 2024-10-04

ABSTRACT

This research aims to find out how household finances are managed in Islam. The method used in this writing is qualitative descriptive, namely describing or describing a study material. The author chose a qualitative descriptive research design because the author wanted to describe the analysis of the conditions that would be observed in the field in a clear, transparent and in-depth manner. This research is a type of literary research using secondary data sources in the form of books and previous journals. In an environment that influences sharia principles, financial management becomes a practice that reflects religious values. Creating harmony with Islamic economic philosophy which prioritizes blessings, justice and equality. In the Islamic context, household financial management has deep relevance to Islamic economic principles. Managing household finances with these principles can be applied to achieve economic and moral stability in the household. Apart from that, Muslim families can also achieve a balance between investing for the future, meeting basic needs, and also contributing to social good. A better understanding of the principles of Islamic economics is also the basis for solving problems regarding financial management, such as avoiding excessive debt problems. A household management plan can protect a group of families from consumerist behavior, because a family needs wise management in managing family finances, in order to manage financial cash flow better and more regularly. Islam also reminds its followers to live simply and avoid transactions that encourage waste.

ABSTRAK

Penelitian ini bertujuan untuk mengetahui bagaimana pengelolaan keuangan rumah tangga dalam Islam. Adapun metode yang digunakan dalam penulisan ini adalan deskriptif kualitatif, yaitu menggambarkan atau mendeskripsikan satu bahan kajian. Penulis memilih desain penelitian deskriptif kualitatif karena penulis ingin mendeskripsikan keadaan yang akan diamati di lapangan dengan suatu analisis, transparan, dan mendalam. Penelitian ini termasuk jenis penelitian literer dengan menggunakan sumber data sekunder yang berupa buku maupun jurnal-jurnal terdahulu. Dalam lingkungan yang dipengaruhi prinsip syariah, pengelolaan keuangan menjadi praktik yang mencerminkan nilai-nilai agama. Menciptakan keselarasan dengan filsafat ekonomi Islam yang mengedepankan keberkahan, keadilan, dan pemerataan. Dalam konteks Islam, pengelolaan keuangan rumah tangga memiliki relevansi yang mendalam dengan prinsip ekonomi Islam. Mengelola keuangan rumah tangga dengan prinsip-prinsip tersebut dapat diterapkan untuk mencapai stabilitas ekonomi dan moral dalam rumah tangga. Selain itu, keluarga Muslim juga dapat mencapai keseimbangan antara berinvestasi untuk masa depan, memenuhi kebutuhan dasar, dan juga berkontribusi terhadap kebaikan sosial. Pemahaman yang lebih baik terhadap prinsip-prinsip ekonomi Islam juga menjadi dasar untuk menyelesaikan permasalahan mengenal pengelolaan keuangan, seperti menghindari masalah hutang yang berlebihan. Rencana pengelolaan rumah tangga dapat memproteksi sekelompok keluarga dari perilaku konsumeris, karena sebuah keluarga memerlukan manajemen yang bijak dalam mengelola keuangan keluarga, guna mengatur cashflow keuangan menjadi lebih baik dan teratur, Islam juga mengingatkan umatnya untuk hidup sederhana dan menghindari transaksi yang mendorong pemborosan.

PRODUCTION AND DISTRIBUTION FROM ISLAMIC ECONOMIC PERSPECTIVE

Asriadi Arifin Adi — 2024-10-04

In Islamic economics, production and distribution are the main pillars for achieving happiness, Islam bases production on the purpose of utilization, that production is a springboard for achieving value benefits and a more collective utilization goal that touches all groups. The presence of this paper is to examine the inherent (close relationship) of the concept of production and distribution based on an Islamic view. The results of this study will become a new discourse in Islamic economics literature as a contribution in the theoretical field for the perfection of the results of future studies. The type of research used is library research by referring to the written content of relevant research and then elaborating it with current phenomena. The conclusion states that Islam is a religion of rahmatan lil -' alamin which implies the distribution of goodness and benefit to every creature created by Allah SWT on earth, therefore this is a principle that is absorbed in Islamic economics so that it wards off all forms of production and distribution activities that are not in harmony with it. So that all human economic activities as caliphs must be verified based on Islamic normative values. Between the concepts of production and distribution, according to Islam, both are not a separate entity, but are a fragment. The main motive that must precede production is distribution, that someone who works has no other motive than himself and to ensure the fulfillment of the needs of others for the sake of realizing prosperity, economic justice and a balanced standard of living among all elements of society .

DAMPAK INFLASI, SUKU BUNGA BI, DAN PERTUMBUHAN EKONOMI TERHADAP PEMBIAYAAN MURABAHAH DI BANK SYARIAH INDONESIA PADA TAHUN 2014-2022

REZA ABDILAH SAPUTRA — 2024-10-04

Penelitian ini memiliki tujuan dalam menganalisis dampak Inflasi, Suku Bunga Bank Indonesia, dan
Pertumbuhan ekonomi terhadap Pembiayaan Murabahah pada bank syariah di Indonesia. Penelitian
ini menggunakan data Time Series tahun 2014-2022, yang didapatkan pada situs resmi Bank
Indonesia, Otoritas Jasa Keuangan, serta Badan Pusat Statistik. Agar dapat menganalisis data
tersebut, penulis memanfaatkan metode Regresi Linier Berganda. Kemudian, hasil dari penelitian ini
menyatakan bahwa variabel Inflasi, Suku Bunga Bank Indonesia, dan Pertumbuhan ekonomi tidak
ditemukan pengaruh yang signifikan baik secara simultan atau juga parsial terhadap Pembiayaan
Murabahah. Kemudian penelitian ini juga membuktikan mengenai Inflasi memiliki dampak negatif
terhadap pembiayaan murabahah. Kemudian, Suku bunga BI memiliki dampak negatif serta tidak
signifikan terhadap pembiayaan murabahah dan Pertumbuhan ekonomi memiliki dampak positif
namun tidak signifikan terhadap pembiayaan murabahah.

ANALYSIS OF SALES AND SERVICE PRICING MECHANISMS FROM AN ISLAMIC ECONOMIC PERSPECTIVE

Muhammad Wafa Ahda Muzani — 2024-10-04

A trading activity will not escape the name of the price. Unclear prices can cause many things, for example, entrepreneurs do not like buyers and vice versa, even buyers can do something that can damage the good name of the seller or company and many other consequences. Therefore, the price really needs to be considered. This study aims to analyse the pricing mechanism and services at Latansa Gontor convection from an Islamic economic perspective. In this context, four pricing indicators according to the Islamic perspective are considered: wisdom, transparency, honesty and justice. The research method used is qualitative with an open coding approach. Data were collected through interviews with the manager of Latansa Gontor Convection as well as direct observation at the production site. The results of the analysis show that Latansa Gontor Convection successfully applies the principle of wisdom in pricing and services, this can be seen from how customers get clear information before the transaction. In addition, Latansa Gontor Convection adjusts product prices by taking into account customer needs and goals, as well as recognising the level of production difficulty in service pricing to provide appropriate compensation to employees.

ANALYSIS OF GOVERNMENT EXPENDITURE FROM THE PERSPECTIVE OF ISLAMIC ECONOMICS ON HDI IN WEST JAVA PROVINCE PERIOD 2013-2018

sunani — 2024-10-04

Abstract

The Human Development Index (HDI) serves as a key indicator in measuring a country's economic progress. However, despite Indonesia's relatively high economic growth, its HDI ranking remains low. To enhance economic development, the government must play an active role by directing expenditure policies across various sectors such as the economy, healthcare, and education. From the perspective of Islamic economics, government spending should be based on principles of justice, balance, and sustainability. This research employs a qualitative descriptive method, utilizing government expenditure data sampled from 2013 to 2018. The analysis reveals that government spending significantly impacts Indonesia's economic development positively. Each increment in government expenditure results in a certain percentage increase in economic growth. Furthermore, the research finds that the composition of government spending also influences economic growth. Government expenditure focused on productive sectors like infrastructure, education, and research and development yields a more positive impact on economic growth compared to expenditure on administrative and consumptive sectors. In the context of Islamic economics, government spending must adhere to Sharia principles, avoiding interest (riba) and practices contrary to Islamic values, while ensuring fair distribution of resources. Consequently, the government can foster an inclusive and sustainable economic climate, supporting the enhancement of the Human Development Index.

Keyword : HDI, Goverment Expenditure, Islamic Economy.

Abstrak

Indeks Pembangunan Manusia (IPM) menjadi salah satu indikator kunci dalam mengukur kemajuan ekonomi suatu negara. Namun, meskipun pertumbuhan ekonomi Indonesia relatif tinggi, peringkat IPM masih rendah. Untuk meningkatkan pembangunan ekonomi, pemerintah harus memainkan peran aktif dengan mengarahkan kebijakan pengeluaran pada berbagai sektor, seperti ekonomi, kesehatan, dan pendidikan. Dalam perspektif ekonomi Islam, pengeluaran pemerintah harus berdasarkan prinsip keadilan, keseimbangan, dan keberlanjutan. Penelitian ini menggunakan metode kualitatif deskriptif dengan mengambil sampel data pengeluaran pemerintah dari tahun 2013 hingga 2018. Hasil analisis menunjukkan bahwa pengeluaran pemerintah memiliki dampak positif yang signifikan terhadap pembangunan ekonomi Indonesia. Setiap kenaikan satu unit pengeluaran pemerintah menghasilkan peningkatan pertumbuhan ekonomi sebesar persentase tertentu. Lebih lanjut, penelitian ini menemukan bahwa komposisi pengeluaran pemerintah juga memengaruhi pertumbuhan ekonomi. Pengeluaran pemerintah yang difokuskan pada sektor produktif, seperti infrastruktur, pendidikan, dan riset dan pengembangan, memberikan dampak yang lebih positif terhadap pertumbuhan ekonomi dibandingkan dengan pengeluaran untuk sektor administratif dan konsumtif. Dalam konteks ekonomi Islam, pengeluaran pemerintah harus mematuhi prinsip-prinsip syariah, menghindari riba (bunga) dan praktik yang bertentangan dengan nilai-nilai Islam, serta memastikan distribusi yang adil dari sumber daya. Dengan demikian, pemerintah dapat menciptakan iklim ekonomi yang inklusif dan berkelanjutan, yang mendukung peningkatan Indeks Pembangunan Manusia.

Kata Kunci : IPM, Pengeluaran Pemerintah, Ekonomi Islam

EXPLORATION OF CASH WAQF AS A SHARIA ECONOMIC INSTRUMENT IN REALIZING SOCIAL WELFARE IN INDONESIA

Bima Fandi Asy'arie — 2024-10-04

Wakaf uang, yang juga disebut sebagai (cash waqf), merupakan perkembangan dari prinsip wakaf tradisional. Dalam wakaf uang, aset yang sebelumnya terkait dengan properti fisik seperti tanah dan bangunan, kemudian diubah menjadi aset yang bersifat cair atau berwujud uang tunai yang dapat diinisiasi oleh individu, kelompok, lembaga, atau badan hukum. Regulasi wakaf sudah tercantum dalam Undang-Undang Nomor 41 Tahun 2004 tentang wakaf, ini lahir sebagai hasil dari proses panjang pencarian yang dilakukan oleh para ulama Indonesia dalam merespons dinamika perkembangan terkait dengan perwakafan. Penelitian ini bertujuan untuk mengevaluasi potensi wakaf uang (cash waqf) dalam meningkatkan kesejahteraan sosial. Penelitian ini menggunakanpendekatan kualitatif dengan metode penelusuran kepustakaan (library research). Hasil yang telah ditemukan pada penelitian ini yaitu meninjau potensi wakaf uang (cash wafq) dalam sektor (1) pendidikan, (2) kesehatan, (3) pemeliharaan penghasilan, (4) pelayanan kerja, (5) perumahan, dan (6) pelayanan sosial.

DETERMINAN KINERJA KEUANGAN PERUSAHAAN SEKTOR PROPERTI & REAL ESTATE PADA INDEKS SAHAM SYARIAH INDONESIA

nurjanah nurjanah — 2024-10-04

This research aims to identify and analyze factors that influence the financial performance of companies operating in the property and real estate sectors listed in the Indonesian Sharia Stock Index. Specifically, this research evaluates the influence of internal company factors, such as leverage, profitability, and operational efficiency. Apart from that, this research also analyzes the impact of compliance with sharia principles. This research uses quantitative research, the data source used in this research is secondary data in the form of annual and quarterly financial reports. The analysis technique used is panel data regression, with the Chow test and Hausman test showing that the best model results are the fixed effect model. The results of the research show that return on assets (ROA) with a probability value of 0.0308 partially has a significant effect on share prices, earnings per share (EPS) with a probability value of 0.0081 partially has a significant effect on share prices, but the debt to equity ratio (DER) with a value of probability 0.5249 partially has no significant effect on stock prices. Simultaneously, with a probability F value of 0.000000, return on assets (ROA), earnings per share (EPS), debt to equity ratio (DER) together have a significant effect on share prices in property and real estate companies.