Ekonomi Islam

A FIQH MUAMALAH PERSPECTIVE ON THE USE OF CLOUD COMPUTING IN MSME FINANCIAL MANAGEMENT IN SRAGEN REGENCY

Ilham Rosyid Miftahul Farid, Krismono Krismono, Syahmirwan Syahmirwan — Sun, 30 Nov 2025 00:00:00 +0700

Research Aims: This study aims to examine the adoption of cloud computing technology in MSME financial management in Sragen Regency from the perspective of fiqh muamalah and assess its compatibility with Islamic sharia principles.

Design/Methodology/Approach: This research adopts a qualitative case study approach. Data were collected through in-depth interviews with MSME practitioners, direct observations, and literature studies on Islamic financial jurisprudence. The analysis examines Islamic contract principles including ijarah (leasing), wakalah (agency), and syirkah (partnership), alongside aspects of data ownership, security, and sharia compliance.

Research Findings: The findings indicate that cloud computing significantly enhances operational efficiency and financial transparency in MSME management. However, implementation must adhere to Islamic principles of fairness, transparency, and avoidance of riba (usury) and gharar (excessive uncertainty). Cloud computing services can be legitimately adopted by MSMEs when structured according to sharia-compliant frameworks.

Theoretical Contribution/Originality: This study contributes to Islamic business literature by integrating contemporary digital technology with classical fiqh muamalah principles. It provides novel insights into reconciling cloud computing with sharia values, offering a theoretical framework for technology adoption in Islamic-oriented business environments.

Practitioners/Policy Implications: The results recommend that MSMEs select cloud service providers offering sharia-compliant contracts. Policymakers should develop regulatory frameworks supporting Islamic-compliant cloud computing models. Technology providers are encouraged to design solutions tailored to Islamic principles, facilitating wider adoption among Muslim entrepreneurs.

Research Limitations/Implications: The qualitative case study approach and geographic focus on Sragen Regency may limit generalizability. Future research should employ mixed-methods designs across diverse regions, explore additional variables such as digital literacy and cost-benefit analysis, and develop standardized sharia-compliant cloud computing models for MSME financial management.

ANALYSIS OF SHARIA FINANCING STRATEGY BASED ON CROWDFUNDING IN SMES

Lili Puspita Sari, Ade Nur Rohim, Prima Dwi Priyatno, Lina Rahmawati — Sun, 30 Nov 2025 00:00:00 +0700

Research aims: The purpose of this study is to analyze strategies for developing sharia-based crowdfunding to support halal MSMEs. It aims to highlight key aspects such as education, regulation, technological innovation, institutional collaboration, and the provision of sharia-compliant investments that contribute to the growth and sustainability of the halal business ecosystem.

Design/Methodology/Approach: This study employs a descriptive qualitative method with interview techniques.

Research findings: The findings indicate that strategies for developing sharia-based crowdfunding for MSMEs include enhancing education, establishing regulations, creating technology-based products, collaborating with other institutions, and providing investments that comply with sharia principles.

Theoretical Contribution/Originality: This study provides a new perspective on the role of sharia-based crowdfunding in supporting the growth of the halal MSME sector. It contributes to the academic discourse by expanding the existing literature on the integration between the halal economy and Islamic fintech, emphasizing how innovative financial mechanisms aligned with sharia principles can enhance access to funding and promote sustainable development within the halal industry.

Practitioners/Policy Implications: Highlights the importance of synergy among education, regulation, and technological innovation in strengthening the sharia-compliant financing ecosystem for MSMEs.

Research Limitations/Implications: The study remains descriptive and limited to interview findings, suggesting the need for further research using quantitative or comparative approaches to test the effectiveness of the proposed strategies.

ANALYSIS OF STAKEHOLDER CONTRIBUTIONS TO THE DEVELOPMENT OF MSMEs COMPETITIVENESS

Alfen Arqani, Hulwati Hulwati; Meirison Meirison; Shofian Ahmad — Sun, 30 Nov 2025 00:00:00 +0700

Research aims: This study analyzes the contributions of key stakeholders government agencies, the Ministry of Religious Affairs, community leaders, and MSME owners in strengthening the competitiveness of halal MSMEs in Kerinci Regency.

Design/Methodology/Approach: The research uses a field-based qualitative descriptive method. Data were collected through observation, interviews, and documentation with purposively selected informants: the Cooperative and Manpower Office, the Ministry of Religious Affairs, community leaders, and MSME owners. Data were analyzed through reduction, presentation, and conclusion drawing, supported by triangulation for credibility.

Research findings: The results show that stakeholder involvement is important but not yet optimal. Government initiatives such as training, DUMISAKE capital assistance, and free halal certification through the SEHATI program support MSME competitiveness. However, challenges persist, including uneven assistance, limited socialization, restricted technology access, and weak coordination among stakeholders. The role of community leaders remains minimal.

Theoretical Contribution/Originality: This study enriches Islamic economic literature by showing how stakeholder synergy influences halal MSME competitiveness in a regional context.

Practitioners/Policy Implications: Enhanced coordination, stronger outreach, improved digital access, and continuous monitoring are needed to increase program impact.

Research Limitations/Implications: Findings are limited to Kerinci Regency and qualitative perspectives; broader comparative studies are suggested.

COMPARISON OF LEGAL PERSPECTIVES OF DIGITAL FINANCING AGREEMENTS BASED ON ISLAMIC CONTRACT LAW AND AGREEMENT LAW IN THE INDONESIAN CIVIL CODE

Nur Melinda Lestari, Muhammad In'amullah — Sun, 30 Nov 2025 00:00:00 +0700

Research Aims: The purpose of this study is to analyze the legal framework required to regulate the implementation of financial technology (fintech), particularly peer-to-peer lending platforms, in order to protect the public from illegal digital financing practices. This study highlights the importance of aligning positive law especially contract law under the Civil Code with Islamic contract law principles, given that many existing digital financing practices minimally apply sharia values.

Design/Methodology/Approach: This research employs a legal normative approach using a conceptual framework and statutory analysis. It examines the coexistence of state law and Islamic law within society to provide a comprehensive understanding of regulatory needs in sharia-based digital financing.

Research Findings: The study finds that there are fundamental differences in the concept of lawful cause between conventional and sharia contracts. In conventional contracts, legal validity is determined by whether the agreement does not violate the law, morality, or public order. In contrast, sharia contracts must additionally ensure conformity with Islamic legal sources (the Qur’an and Sunnah). This difference underscores the need for a regulatory framework that accommodates both legal systems in digital financing platforms.

Theoretical Contribution/Originality: This study contributes to the academic discourse by linking contract law theory with fintech practices, offering a deeper understanding of how dual legal systems state law and Islamic law can coexist in regulating digital financing. It expands the literature on sharia-compliant fintech governance and emphasizes the necessity of legal harmonization in the growing digital financial ecosystem.

Practitioners/Policy Implications: The study highlights the necessity for the state to establish clear and integrated regulatory standards that ensure both legal and sharia compliance in digital financing. Strengthening supervision, certification, and compliance mechanisms is essential to prevent illegal fintech operations and protect consumers.

Research Limitations/Implications: The research is conceptual and normative in nature, relying on legal analysis rather than empirical field data. Further empirical studies are encouraged to evaluate the implementation effectiveness of integrated sharia and conventional legal frameworks in fintech operations.

DETERMINANTS OF CONSUMER PARTICIPATION IN BOYCOTTS OF PRO-ISRAELI PRODUCTS: EVIDENCE FROM INDONESIA

Qiny Shonia Az Zahra, Elis Nurhasanah, Iis Aisyah — Sun, 30 Nov 2025 00:00:00 +0700

Research aims: This study explores the determinants of consumer boycott participation of pro-Israel products in Indonesia, a context in which political conflicts strongly shape consumption behavior.

Design/Methodology/Approach: A quantitative descriptive method was used, data collection was conducted in 2024 using purposive sampling technique involving 230 respondents and used Structural Equation Modeling, specifically Partial Least Squares (SEM-PLS), to examine how religiosity, consumer animosity, and consumer affinity affect boycott actions.

Research findings: The findings revealed that consumer animosity was the strongest predictor of boycott participation (β = 0.619, p < 0.001). In contrast, religiosity (β = –0.024, p = 0.641) and consumer affinity (β = 0.173, p = 0.090) did not have significant effects. The R-square of the boycott participation variable was 0. 558.The results highlight that socio-political emotions, especially animosity, influence boycott behavior more than religious beliefs.

Theoretical Contribution/Originality: This study adds to the consumer behavior field by focusing on actual participation instead of just intentions, showcasing evidence from an emerging economy.

Practitioners/Policy Implications: Socio-political content-based public awareness campaigns through social media and influencers, and providing databases or applications that contain a list of products affiliated with Israel, can be a practical strategy to build more consistent and impactful boycott participation.

Research Limitations/Implications: This study is limited by the concentration of respondents in Java, which may not fully capture the diversity of consumer behavior across Indonesia. Future research should expand the sample to other regions to provide more representative insights.

DEVELOPING A HYBRID SUSTAINABILITY PERFORMANCE FRAMEWORK FOR ISLAMIC BANKS IN INDONESIA

I Made Chandra Mandira, Nuhbatul Basyariah, Eko Hariyadi — Sun, 30 Nov 2025 00:00:00 +0700

Research aims: This study aims to develop a Hybrid Sustainability Performance Index integrating Maqasid al-Shariah principles with Environmental, Social, and Governance (ESG) metrics for Islamic banks in Indonesia.

Design/Methodology/Approach: The research employs Fuzzy Delphi Method (FDM) and Fuzzy Decision-Making Trial and Evaluation Laboratory (FDEMATEL) methodologies to prioritize and clarify the complex relationships between various criteria.

Research findings: The integration of Maqasid al-Shariah and ESG metrics enhances the sustainability performance of Islamic banks, increases accountability and transparency to stakeholders, and supports sustainable financial growth in Indonesia.

Theoretical Contribution/Originality: This study contributes to the literature by providing a structured framework that combines Islamic ethical principles with contemporary sustainability metrics, addressing a notable gap in the performance measurement of Islamic banks.

Practitioners/Policy Implications: The proposed index offers Islamic banks a practical tool to align their operations with both Maqasid al-Shariah and ESG metrics, facilitating informed strategic decisions and improved stakeholder engagement.

Research Limitations/Implications: While the proposed index provides a comprehensive framework, its applicability may be limited by the availability and quality of data from Islamic banks, as well as variations in the interpretation of Maqasid al-Shariah across institutions. Future research could expand the model by incorporating longitudinal data or testing the index in different regulatory and geographical contexts to enhance its robustness and generalizability.

EXAMINING THE EFFECTS OF REGULATION, HALAL AWARENESS, AND BELIEF ON MSME INTENTIONS IN MEDAN CITY TO OBTAIN HALAL CERTIFICATION

Ilham Akbar Lubis Lubis, Sugianto Sugianto, Imsar Imsar — Sun, 30 Nov 2025 00:00:00 +0700

Research aims: This study examines how regulation, halal awareness, and belief influence the intention of Micro, Small, and Medium Enterprises (MSMEs) in Medan City to register for halal certification. Although mandated by Law No. 33 of 2014, many MSMEs continue to delay certification due to limited understanding, perceived financial burdens, and assumptions that their products are inherently halal.

Design/Methodology/Approach: A quantitative approach using multiple linear regression was applied. Data were collected from 91 MSMEs in East Medan District through a structured questionnaire, supported by validity, reliability, and classical assumption testing.

Research findings: The results show that regulation, halal awareness, and belief significantly shape MSME intentions, explaining 90.4% of the variation. Although MSMEs recognize the importance of certification for legality and consumer trust, challenges related to procedures and limited knowledge remain.

Theoretical Contribution/Originality: This study enriches the literature by illustrating how regulatory and cognitive–religious factors influence MSME certification decisions.

Practical/Policy Implications: Stronger government support, wider socialization, and simpler procedures are needed to increase MSME participation.

Research Limitations/Implications: The findings are limited to East Medan District and a quantitative approach; future studies should compare regions or use mixed methods for deeper insights.

EXPLORING MUSLIM CONSUMERS' INTENTIONS TOWARD IMPORTED HALAL FOOD: AN INTEGRATION OF TCV AND TPB

Sun, 30 Nov 2025 00:00:00 +0700

Research aims: To examine the consumption value factors influencing Muslim consumers’ purchase motives for imported halal products in West Java and to analyze the role of attitude, subjective norms, and perceived behavioral control in shaping purchase intention.

Design/Methodology/Approach: A quantitative approach was applied through a survey of 273 purposively selected respondents, with data analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS).

Research findings: The results show that attitude and perceived behavioral control significantly affect purchase intention, whereas subjective norms have no meaningful impact. Quality, price, and emotional values strongly influence attitude and, through it, enhance behavioral intention, while conditional values show no significant role. These findings suggest that intrinsic consumption values and positive attitudes are the main drivers of intention, highlighting the limited effect of social and situational factors.

Theoretical Contribution/Originality: Integrates the Theory of Consumption Values (TCV) and the Theory of Planned Behavior (TPB) to explain how intrinsic motivations outweigh external pressures in shaping halal consumption behavior.

Practitioners/Policy Implications: Practically, policymakers and halal certification bodies should strengthen trust in product quality and authenticity while fostering emotional engagement through branding and communication strategies. Rather than focusing on social influence or temporary promotions, sustainable growth in halal consumption depends on nurturing intrinsic values and favorable consumer attitudes.

Research Limitations/Implications: The study is limited to Muslim consumers in West Java; future research could employ longitudinal or mixed methods, compare regions, or explore variables such as religiosity, trust in certification, and digital influence.

IMPLEMENTATION OF MURABAHAH CONTRACT IN FINANCING HOME OWNERSHIP TAKE OVER (PPR) AT BANK SYARIAH INDONESIA (BSI) KCP SIDOARJO KRIAN IN A REVIEW OF DSN MUI FATWA

Nur Azmil Muftaqor, Arin Setiyowati, Fatkhur Huda, Hafizul Ilmi Nasution — Sun, 30 Nov 2025 00:00:00 +0700

Research aims: This study analyzes the implementation of the Murabahah contract in take-over Financing for home Ownership Financing at Bank Syariah Indonesia (BSI) KCP Sidoarjo Krian, with emphasis on Sharia compliance, transaction transparency, and procedural integrity.

Design/Methodology/Approach: A qualitative‐descriptive design was adopted. Primary data were gathered through in‐depth interviews with key bank officials and supplemented by document analysis. Data were processed via reduction, presentation, and thematic interpretation.

Research findings: Results indicate that the BI‐Checking stage is pivotal for assessing customer creditworthiness and mitigating financing risk. BSI KCP Sidoarjo Krian demonstrates Sharia adherence by disclosing detailed cost breakdowns and profit margins before contract execution, reflecting principles of honesty and fairness.

Theoretical Contribution/Originality: This study proposes a structured set of guidelines to enhance Murabahah-based takeover mechanisms. Notable recommendations include standardized disclosure practices, regular reassessment of repayment capacity, and strengthened notarial collaboration to ensure legal compliance.

Practitioners/Policy Implications: The study underscores the need for a nationally standardized framework across Islamic financial institutions to optimize operational efficiency, foster inclusive financial access, and reinforce public trust in Sharia-compliant financing systems.

Research Limitations/Implications:

Given its institution-specific focus on BSI KCP Sidoarjo Krian, generalization across other Islamic banks may be limited. Further research is recommended to evaluate the model’s applicability in diverse institutional and regional contexts.

ISLAMIC ACCOUNTING AS A SOLUTION TO ANTHROPOCENTRISM IN COASTAL ENVIRONMENTAL AND ECONOMIC MANAGEMENT

Sun, 30 Nov 2025 00:00:00 +0700

Research aims: This study aims to analyze the application of Islamic-based accounting principles as an alternative approach to anthropocentrism in managing the environment and coastal economic systems.

Design/Methodology/Approach: This research employs a qualitative approach through case studies in several Indonesian coastal communities. Data were collected through in-depth interviews, observations, and document analysis, and then interpreted to identify Islamic values relevant to sustainable accounting practices.

Research findings: The findings reveal that the application of Islamic principles such as amanah (responsibility), mizan (balance), and the prohibition of israf (excessiveness) can shift the paradigm of resource management from short-term profit orientation toward ecological and social sustainability. This approach has the potential to reduce coastal environmental degradation and enhance the welfare of local communities.

Theoretical Contribution/Originality: This study proposes a conceptual framework of Islamic-based accounting as an alternative to the conventional accounting model that tends to be anthropocentric, thereby expanding the discourse on sustainability accounting from an Islamic value-based perspective.

Practitioners/Policy Implications: The findings may serve as a foundation for policymakers and practitioners in designing fair and sustainable accounting policies for coastal environmental and economic management based on Islamic ethical principles.

Research Limitations/Implications: This study is limited to the local context of Indonesian coastal areas; further research is needed to examine the applicability of the proposed model in different social and economic settings.

LITERATURE REVIEW ON THE ROLE OF SHARIAH VENTURE CAPITAL IN SUPPORTING THE GROWTH OF SMES IN INDONESIA

Sun, 30 Nov 2025 00:00:00 +0700

Research aims: This study analyzes the role of Sharia venture capital in enhancing the growth, competitiveness, and sustainability of MSMEs in Indonesia, while mapping global trends, thematic clusters, challenges, and opportunities in Sharia-based venture financing.

Design/Methodology/Approach: A Systematic Literature Review (SLR) using the PRISMA protocol is combined with bibliometric analysis through VOSviewer. Publications from 2020–2024 indexed in Scopus were screened with defined criteria, and keyword co-occurrence mapping was conducted to identify thematic structures and research directions.

Research findings: Six thematic clusters emerged: financing mechanisms, macroeconomic dynamics, technological innovation, governance and risk, entrepreneurship, and global market integration. Sharia venture capital strengthens MSME financing access, innovation, and ethical economic development, though challenges persist in literacy, collaboration, and regulatory support.

Theoretical Contribution/Originality: The study fills a literature gap by integrating Islamic ethical principles with modern venture financing and offering a conceptual understanding of Sharia risk-sharing models in MSME empowerment.

Practitioners/Policy Implications: Findings highlight the need for stronger regulation, investor education, institutional collaboration, digital transformation, and MSME capacity building.

Research Limitations/Implications: Limitations stem from reliance on secondary data and database scope. Future research should assess empirical impacts, digital Sharia VC models, and governance mechanisms.

THE INTEGRATION OF HACCP AND HAS 23000 IN THE MEAT INDUSTRY TO ENHANCE AUDIT MANAGEMENT EFFECTIVENESS AND EFFICIENCY

Sun, 30 Nov 2025 00:00:00 +0700

Research aims: This study aims to design and validate an integration model between the Hazard Analysis Critical Control Point (HACCP) system and the Halal Assurance System (HAS) 23000 to enhance the effectiveness of internal audits at slaughterhouses while ensuring food safety and halal compliance.

Design/Methodology/Approach: The research used a qualitative approach with the Expert Judgment method involving three experts (halal industry practitioners, industrial engineering academics, and halal quality management). The stages include: (1) mapping HACCP and HAS 23000 criteria, (2) designing an integration model based on the similarity of document functions and processes, (3) validation through a questionnaire with a scale of 1-9, and (4) feasibility analysis based on the percentage of scores.

Research findings: The validation results indicate that the HACCP–HAS 23000 integration model falls into the Highly Suitable category (average 80.4%). his model aligns HACCP Critical Control Points (CCPs) and HAS 23000 critical activities within a unified audit framework, potentially enhancing efficiency, consistency in oversight, and the integrity of the halal supply chain.

Theoretical Contribution/Originality: This study offers two innovations: (1) the first integration model specifically designed for NKV III slaughterhouses, (2) the application of Expert Judgment to align the scientific perspectives of HACCP and HAS 23000 sharia standards.

Practitioners/Policy Implications: For RPH, this model has the potential to simplify internal audits and reduce document duplication. For BPJPH, it can be adopted as technical guidelines for halal certification for small-scale RPH. Globally, it offers a solution for countries with fragmented halal certification.

Research Limitations/Implications: The study was limited to three expert respondents and focused on one slaughterhouse case. Future research should validate the model across multiple facilities and expand the expert panel. Long-term implementation studies are needed to assess practical effectiveness.