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The development of the sharia financial system is marked by the establishment of various sharia institutions and the issuance of various sharia-based financial instruments. One of the most prominent institutions is sharia banks, which not only serve as financial intermediaries that collect and distribute funds to the community but also provide various services, including pawning. Bank Syariah Indonesia is one of the leading banks offering a gold pawn product, which has been considered successful due to its continuous growth every year. Sharia gold pawn financing is a product that channels funds in the form of loans, based on the qard principle, where gold serves as collateral for the customer’s money. The process involves several stages that must be followed by both the bank and the customer. Bank Syariah Indonesia has managed to set relatively low rental fees for its gold pawn products compared to other financial institutions, making it an attractive option for customers in need of short-term financing. In this community service activity, the aim is to provide a detailed explanation of the mechanism behind the gold pawning product at Bank Syariah Indonesia. By doing so, the public is expected to become more familiar with the services, operations, and benefits offered by sharia banks, particularly in the context of gold pawn financing. This initiative aims to increase the understanding and awareness of the public about the advantages of using sharia-based financial products, as well as highlight the role of such services in supporting the financial needs of individuals while adhering to Islamic principles. Through this outreach, it is hoped that more people will consider utilizing these financial services, thus contributing to the broader development of sharia finance

Sharia financing is a key instrument that Islamic banks must promote in channeling third-party funds. This aligns with the basic principles of Islamic banking, which emphasize fairness, partnership, and business sustainability. Therefore, it is crucial to examine how various Islamic financing schemes impact Islamic bank profitability. This study focuses on Bank Mega Syariah, using secondary data sourced from quarterly financial reports for the period 2017 to 2024. The financing variables analyzed include musyarakah, mudharabah, murabahah, and ijarah, while profitability is measured using relevant financial performance indicators. The analysis method used is a quantitative approach using regression techniques to examine the effect of each type of financing on bank profitability. The results show that musyarakah, mudharabah, and murabahah-based financing have a positive and significant impact on profitability, meaning that the higher the distribution of these three types of financing, the greater their contribution to increasing bank profits. These findings indicate that the business partnership model, profit-sharing system, and profit margin stipulated in the murabahah contract significantly contribute to maintaining profit growth. Conversely, ijarah financing did not significantly impact profitability. This may be due to the characteristics of ijarah, which tends to be oriented towards fixed assets or leases, resulting in a relatively limited contribution to increasing short-term profits. Overall, this study provides important implications for Islamic bank management to further optimize the proportion of musyarakah, mudharabah, and murabahah financing as a strategy to boost financial performance and maintain business continuity amidst the competitive Islamic banking industry.

This study examines the philosophy of Islamic economics and the legal principles underlying the implementation of the mudharabah muqayyadah contract in Islamic financial institutions. The mudharabah muqayyadah contract is a form of partnership contract involving the shahibul maal (capital owner) and mudharib (business manager), with provisions limited to a certain scope, so that the implementation of this contract must be based on sharia principles that regulate all forms of financial transactions. This study focuses on how ethical values in Islam are integrated with the legal principles of sharia contracts, particularly in maintaining fair relations between the two parties. Through a normative qualitative approach, data were collected from classical and contemporary literature as well as regulations applicable in the Islamic financial sector. The results show that the mudharabah muqayyadah contract is a manifestation of maqashid al-shariah in economic practice, which aims to safeguard assets, uphold justice, and create balance in economic transactions. The legal principles applied in this contract include freedom of contract, good faith, and fairness, which serve to ensure transparency, accountability, and justice between the parties involved. However, the biggest challenges in implementing the mudharabah muqayyadah contract are the aspects of supervision and compliance with sharia principles, as well as technical practices that are often influenced by conventional systems. Therefore, this study recommends the need to strengthen education on sharia philosophy for practitioners in the Islamic financial sector, as well as the need for regulatory harmonization to ensure the fair implementation of the contract, in accordance with the transcendental values taught in Islam. Furthermore, harmonization of regulations governing the mudharabah muqayyadah contract is also crucial to create uniformity in practice across Islamic financial institutions. Clear and firm regulations will reduce the potential for misinterpretation that can lead to bias against the interests of one party.

This study aims to examine and analyze the influence of fundamental factors represented by the current ratio, return on equity, and debt-to-equity ratio, as well as trading volume and market value added variables on the stock prices of industrial sector companies listed on the Indonesian Sharia Stock Index (ISSI) during the 2020–2024 period. This study uses a quantitative approach with secondary data obtained from published financial reports and stock market data. The study population includes all industrial sector companies listed on the ISSI, while the sampling technique used is purposive sampling with certain criteria, resulting in 12 companies as research samples with an observation period of five years. The data analysis method used is panel data regression with the help of Eviews 13 software. The results show that partially the current ratio, debt-to-equity ratio, and trading volume have a significant effect on stock prices, indicating that the level of liquidity, capital structure, and trading activity play an important role in determining stock value in the market. Conversely, return on equity and market value added do not have a significant effect on stock prices, indicating that equity-based profitability and market value added are not always the main considerations for investors in this sector. Simultaneously, the current ratio, return on equity, debt to equity ratio, trading volume, and market value added have a significant effect on stock prices, which means that a combination of fundamental factors, market activity, and investor assessments can collectively influence stock price movements of industrial sector companies in the ISSI.  

This research was motivated by public hesitation to invest in digital gold through the Dana app, which refers to Fatwa No. 77/DSN-MUI/V/2010 concerning non-cash gold buying and selling. This fatwa serves as a guideline for Muslims investing in gold. Furthermore, the author has not found any licensing from the Sharia Supervisory Board (DPS) for the Dana app. Furthermore, several students at Batang Hari Islamic University (UNI) have the Dana app and use it to invest in gold. They were seen buying gold on a certain day and reselling it the next day. The added value from the sale was a profit for the students, but there was also a loss for students who exchanged their gold purchases when the price of gold fell. Furthermore, this research is designed in the form of field research (Empirical Jurisprudence), which is a type of sociological legal research and can be described as field research, which examines applicable legal provisions and what has occurred in community life. Using observation, interview, and documentation techniques, data analysis and triangulation are then carried out. The conclusion that can be drawn from the previous description is that the Digital Gold Investment Practice on the Dana Application at Batang Hari Islamic University in its mechanism on the Gold Fund feature is carried out non-cash where the certainty of the object, namely gold, is only in the form of savings balances in the form of rupiah and digital gold weight with no physical gold ownership if the gold savings have not reached 1 gram. In gold investment transactions on the Dana application, the results show that smaller profits are obtained by buyers due to certain problems related to the buyers themselves. The Digital Gold Investment Practice on the Dana application in the Islamic Law Perspective at Batang Hari Islamic University, by juxtaposing several related fatwas, in practice in Islamic law, the investment practice in the Gold Fund feature is considered to contain gharar related to gold objects that have no physical clarity.

This study examines the phenomenon of the religious jargon “Go Berkah No Riba” (Go Blessed, No Interest) as a digital marketing communication strategy employed by entrepreneurs on social media, particularly Facebook. Using a descriptive qualitative approach and visual discourse analysis, this research seeks to understand how the jargon is interpreted, constructed, and widely disseminated in the context of product marketing and business opportunities. The findings indicate that “Go Berkah No Riba” functions not only as a marker of religious identity but also as a rhetorical device that combines spiritual values with aspirations for material success. Visual analysis of promotional materials, such as flyers and Facebook posts, reveals the use of hyperbolic language, symbolic imagery—such as the Kaaba and piles of money—and religious narratives designed to build credibility and persuade potential consumers. The integration of religious elements with economic appeal creates a sharia-compliant business image that simultaneously promises profitability. However, the study also uncovers ambiguity in the use of this jargon. On the one hand, it can strengthen the image of a business operating ethically according to Islamic principles. On the other hand, it risks being exploited merely as a marketing gimmick without a strong foundation in ethical business practices. This creates the potential for a gap between the religious message communicated and the actual business conduct. The findings underscore the importance of critical literacy in understanding religious communication strategies within the digital business sphere. Consistency between religious messaging and real-world business practices is crucial for maintaining consumer trust and avoiding the excessive commodification of religious values. Therefore, this study contributes to a deeper understanding of the dynamics of religion-based marketing communication in the era of digital transformation.

This research aims to design and build a web-based syar'i clothing inventory information system at Umama Gallery Yogyakarta. The background of this research is based on the problem of inventory management which has been done manually, which often causes obstacles such as delays in stock information, potential recording errors, wasted paper, and difficulties in preparing inventory reports quickly and accurately. To overcome these problems, a web-based information system was developed by referring to the Software Development Life Cycle (SDLC) Waterfall model, which includes the stages of planning, needs analysis, design, implementation, and testing. Research data was obtained through interviews with store managers and literature studies to support the analysis and design of the system. The implementation results show that the inventory information system built is able to simplify the process of recording and monitoring inventory in real-time, thereby helping to reduce the potential for recording errors and speeding up the reporting process. In addition, this system also reduces dependence on physical documents, making it more environmentally friendly and efficient in the use of resources. Available features include data management of goods, suppliers, users, incoming and outgoing goods transactions, and user account management. The integration of these features supports comprehensive inventory management, improves operational efficiency, and facilitates management in making accurate, data-driven decisions. With this system, Umama Gallery Yogyakarta has gained an effective, reliable, and integrated tool to support smooth operations and more modern and professional inventory management. Similar systems have the potential to be implemented in similar businesses to improve inventory management quality and competitiveness in the digital age.

This conceptual paper explores the strategic transformation of Islamic Da’wah institutions to support the achievement of Sustainable Development Goals (SDG) 4 and 16. Drawing from strategic management theories and Islamic ethical frameworks, particularly maqashid shariah, the study proposes a model for institutional reform that aligns religious values with global development agendas. Through a literature-based analysis, the paper synthesizes key concepts such as visionary leadership, ethical governance, and inclusive education. The findings suggest that integrating Islamic principles into strategic planning enhances institutional accountability and educational quality. This study contributes to the discourse on Islamic institutional development by offering a conceptual framework that bridges faith-based governance with sustainable development.

This conceptual study examines how Islamic Da’wah institutions can be strategically transformed to effectively contribute to the achievement of Sustainable Development Goals (SDGs), particularly Goal 4 on quality education and Goal 16 on peace, justice, and strong institutions. Grounded in strategic management principles and the ethical foundations of Islamic thought, especially maqashid shariah (the objectives of Islamic law), the paper presents a model that integrates religious values into institutional planning and reform. By conducting a thorough review of existing literature, the study identifies and synthesizes essential components for transformation, including visionary leadership that prioritizes long-term impact, ethical governance rooted in transparency and accountability, and inclusive education that is both accessible and values-based. The analysis reveals that aligning Islamic ethical frameworks with global development goals can enhance the operational effectiveness and social relevance of Da’wah institutions. Moreover, the incorporation of maqashid shariah in organizational strategy promotes a holistic approach to development that balances spiritual and material objectives. The study argues that by embracing strategic planning processes that reflect both Islamic values and modern development practices, Da’wah institutions can play a crucial role in advancing educational equity and institutional integrity. This not only strengthens the legitimacy and sustainability of these organizations but also positions them as key partners in the broader development agenda. Ultimately, the paper contributes to ongoing discussions about the role of faith-based organizations in global development by offering a conceptual framework that bridges Islamic governance principles with the pursuit of sustainable development outcomes, encouraging a more integrated and ethically grounded approach to institutional reform.

This study analyzes the application of the principles of gharar (uncertainty) and ‘adl (justice) in the subsidized LPG supply chain at Pangkalan Fawaid, Gondanglegi District, using the Maqashid Syariah approach. The primary focus of this research is to identify issues related to the distribution of subsidized LPG that involve Islamic economic principles, particularly concerning uncertainty and injustice that may disadvantage the public, especially low-income households. The main issues identified include the uncertainty of distribution schedules, price fluctuations, limited supply, and a lack of transparency in information, leading to unequal access for low-income households. The research employs a qualitative-empirical method with data collection techniques such as in-depth interviews, participatory observation, and document analysis. Five key informants were selected through purposive sampling to provide comprehensive insights into the issues surrounding subsidized LPG distribution. The data analysis used the interactive model by Miles & Huberman, with triangulation validation to ensure the accuracy and consistency of the findings. The results indicate the presence of gharar in several aspects, such as price uncertainty, quotas, and distribution schedules. Price uncertainty causes subsidized LPG prices to often exceed the Highest Retail Price (HET), while uneven distribution leads to injustice in access for households in need. Violations of the ‘adl principle are evident from the unequal and uneven distribution, which leads to access disparities among low-income households. Based on these findings, it is crucial to digitalize the LPG distribution system to make it more transparent, enhance supervision of distribution practices, and strengthen consumer literacy so they better understand their rights and obligations in accordance with Islamic economic principles. With these measures, uncertainty and injustice in subsidized LPG distribution can be minimized, leading to a more equitable and transparent distribution system.

Understanding the methods used by the National Sharia Council of the Indonesian Ulema Council (DSN-MUI) is important to be understood by the public in order to gain stronger confidence in the implementation of its fatwa. Of the various methods of determining law or ijtihad, one of the ones used by DSN-MUI is Istishab. The purpose of this study is to analyze the application of the Istishab ijtihad method in determining fatwas in DSN-MUI, especially fatwa on rahn tasjily and rahn emas. The research method used uses a Qualitative method with a normative juridical approach that uses secondary and analytical descriptive data as the data analysis technique used. The results of this study state that one of the legal sources used by DSN-MUI in formulating its fatwa is istishab. In general, in the application of istishab in its fatwa, DSN-MUI in most of its fatwas uses the rules derived from isitishab in the form of the law of origin of muamalat is permissible. However, there are two fatwas that clearly show the use of istishab in the issuance of fatwa, namely in Fatwa D about Rahn Emas and Rahn Tasjily. In both fatwas, the elements that become the harmony and conditions in the use of istishab as a legal evidence have been fulfilled, both of which are related to rahn in general that have taken place in the past, which then these postulates are used to determine the applicability of the rahn law in the present time which is used in the form of golden rahn and rahn tasjily. In addition, it also uses derivative rules from istihab itself in the form of the basic law of muamalat, which is permissible until there is evidence that supports it.  

This study employed qualitative methods with primary and secondary data sources. Primary data were obtained through interviews, while secondary data were obtained from important documentation of the Mutiara Welirang Village-Owned Enterprise (BUMDes). Data analysis was conducted using descriptive qualitative methods to obtain a comprehensive picture of the BUMDes' contribution to community welfare. The results of the study indicate that the Mutiara Welirang BUMDes plays an active role in improving the welfare of the Ketapanrame Village community through various services. These services include clean water management, environmental cleanliness management, interest-free loans, stall and kiosk rentals, and tourist attraction management. These various services are considered to have a positive impact on the social and economic conditions of the village community. An Islamic Economics review of the BUMDes' contribution indicates its alignment with Islamic economic principles. The activities carried out are mutually beneficial and align with Islamic values and welfare indicators in the maqashid sharia. This reflects the application of the values of justice, balance, and sustainability in village economic practices. The implications of these findings suggest that the Mutiara Welirang BUMDes can continue to maintain its positive performance and continuously improve the quality of its services. This effort is crucial to ensure the benefits are felt more widely by the community and to further strengthen the role of BUMDes as a driver of village economic development based on Islamic values.

The determination of contentious heirs at the Banda Aceh Syar'iyah Court is a legal procedure carried out when not all heirs are involved in submitting an application for determination of heirs. However, in practice, this application is still rarely submitted and is poorly understood procedurally. This study aims to analyze the Application Procedure for the Determination of Contentious Heirs applied at the Banda Aceh Syar'iyah Court and the obstacles and obstacles faced in the implementation of the Application Procedure for the Determination of Contentious Heirs at the Banda Aceh Syar'iyah Court. This research uses a type of empirical juridical research, which is research that examines law not only as a written norm but also as real behavior in judicial practice. Data were obtained from field research, interviews, and literature. Data analysis uses qualitative methods. The results of the study show that the contentious procedure includes the stages of summoning the respondent, mediation, reading of the application, answers, replicas, duplicates, proof, conclusions, and decisions by the panel of judges, as well as opening up opportunities for legal remedies such as appeals, cassation, and review. The submission of an application for the determination of heirs in a contentious manner is often constrained because the defendant refuses to participate or his whereabouts are unknown, thus hindering the court process and the fulfillment of inheritance rights.

Indonesia’s Islamic capital market has experienced remarkable growth in recent years, evidenced by the increasing number of investors and the rising market capitalization of Sharia-compliant stocks. This article aims to analyze the performance and management strategies of Sharia stock portfolios by reviewing academic literature published in Indonesia between 2019 and 2024. Utilizing a literature review methodology, the study compares the return and risk characteristics of Sharia stocks with those of conventional stocks. It also evaluates the applicability and effectiveness of classical portfolio theories—namely, the Markowitz Model and the Single Index Model—in managing Sharia-compliant investments. The findings reveal that Sharia stock portfolios often perform competitively and tend to exhibit greater resilience and stability during financial crises. This resilience is attributed in part to the rigorous stock screening mechanisms that comply with Islamic principles, excluding sectors and companies that do not meet Sharia criteria. Additionally, various macroeconomic factors such as inflation, interest rates, exchange rates, and global economic fluctuations are found to impact the performance of Islamic stock portfolios. The article highlights that while Sharia investments align with ethical and religious values, they also offer practical advantages in risk management and diversification. Furthermore, digital technology and fintech innovation are seen as essential tools to enhance transparency, accessibility, and investor engagement in the Islamic capital market. The study concludes that the development of Sharia-compliant stock investments in Indonesia holds promising potential, especially if accompanied by improved financial literacy, inclusive investor education, and stronger technological infrastructure. This paper offers valuable insights for policymakers, market regulators, and investors interested in promoting sustainable and faith-based financial practices within Indonesia’s rapidly evolving capital market ecosystem.

This research focuses on exploring the mathematical reasoning abilities of Madrasah Aliyah students in solving problems that integrate mathematical concepts with the Islamic science of faraidh (inheritance law), specifically within the topic of fractions. The study employs a qualitative approach with a case study design and was conducted among 11th-grade students enrolled in the Religious Program at MA Raudlatul Ulum Putri. Data collection techniques included written tests, semi-structured interviews, and classroom observations, focusing on three selected students who represented high, moderate, and low levels of mathematical ability. The analysis centers on several key indicators of mathematical reasoning: identifying problems, formulating hypotheses, presenting logical arguments, and drawing conclusions. The results show that most students fall into the moderate reasoning category, while a smaller number are categorized as high or low. Students in the high category demonstrate a strong capacity to approach problems systematically and accurately, combining mathematical logic with a proper understanding of Sharia-based inheritance rules. In contrast, students in the low category struggle with interpreting problem contexts and executing fraction calculations correctly, which indicates gaps in both conceptual understanding and application skills. These findings underscore the importance of contextual and integrative learning, particularly the combination of mathematics with Islamic values, to enhance deeper comprehension. By embedding religious relevance into mathematical instruction—especially through real-life contexts such as inheritance laws—educators can support the development of more meaningful reasoning abilities. The study suggests that integrating mathematics and Islamic teachings can significantly benefit student learning outcomes and foster stronger conceptual foundations.

This study aims to examine one of the disciplines of Islamic law, namely the pricing mechanism from the perspective of Imam Al-Ghazali, in order to create a healthy market environment free from monopolistic practices and manipulation, and aligned with Sharia principles. This research employs a descriptive qualitative approach using a literature study method by reviewing various relevant books, classical texts, articles, and academic journals related to Islamic economics and Imam Al-Ghazali’s thought. The findings indicate that the concept of fair pricing is not solely dependent on the interaction between supply and demand, but must also consider moral and social dimensions, such as justice, honesty, and public welfare. Imam Al-Ghazali strongly emphasized that economic transactions should uphold ethical standards and social responsibility to prevent exploitation and inequality. He argued that pricing must reflect not only market dynamics but also the broader ethical framework rooted in Islamic values. Furthermore, the study explores the concept of economic equilibrium in relation to pricing mechanisms, where prices should ideally balance individual interests with communal welfare. The research also discusses the correlation between economic balance and price-setting policies, including the views of other classical and contemporary Islamic scholars. It is found that state intervention is permissible in certain conditions—particularly when market mechanisms fail to ensure fairness—thus justifying government roles in market supervision and price stabilization. One of the key concepts in Islamic economics is the notion of a just price (al-thaman al-‘adl), as emphasized by Imam Al-Ghazali.. This study concludes that understanding pricing from Al-Ghazali’s perspective offers valuable insights for building ethical and socially responsible economic systems aligned with Islamic teachings.

The phenomenon of online gambling has become a serious problem in various regions, including West Aceh Regency. data on cases handled by the West Aceh District Syar'iyah Court in the period 2021 to 2024 shows a significant increase in cases. Online gambling as part of jarimah maisir has different characteristics from conventional forms of gambling, namely digital, hidden, cross-regional, and difficult to detect by the naked eye by law enforcement officials and the general public. The problems in this study are How is the application of qanun jinayat law against online gambling offenders in the jurisdiction of the West Aceh District Syar'iyah Court, What are the obstacles faced in applying the law to online gambling offenders based on qanun jinayat law, and What are the efforts to prevent online gambling violations in the West Aceh area. This research uses empirical legal methods with a field research approach and case studies. The results showed that the application of Aceh Qanun Number 6 of 2014 concerning Jinayat Law against online gambling offenders was in accordance with the procedures of jinayat law, but its implementation was still not optimal. The Syar'iyah Court has handled a number of cases, but the number is not proportional to the potential violations. The main obstacles include limited regional authority in blocking sites, lack of digital forensic experts, absence of district-level cyber units, and weak coordination between agencies. Prevention is carried out through digital education by DISKOMINSA, thematic dakwah by the Islamic Sharia Office, as well as the Gampong Tolak Judi Online programme involving the community and the formation of the Gampong Pageu Task Force.

This study investigates the potential role of the Jakarta Islamic Index (JII) as a hedging instrument and safe haven asset against the Indonesia Composite Index (IHSG) during the period from January 2020 to April 2025, a time characterized by elevated market volatility. The main objective is to determine whether sharia-compliant stocks in Indonesia offer diversification benefits during periods of financial stress. Utilizing daily closing prices converted into log returns, the study employs the Asymmetric Dynamic Conditional Correlation Generalized Autoregressive Conditional Heteroskedasticity (A-DCC GARCH) model to capture time-varying correlations between JII and IHSG. Prior to applying the model, standard diagnostic tests were performed to ensure data quality, including tests for stationarity, autocorrelation, and ARCH effects.Empirical results reveal a persistently high correlation between IHSG and JII, with an average of 0.826 and values exceeding 0.95 during periods of market turbulence. These findings indicate that JII does not fulfill the characteristics of a hedge or safe haven asset. A robustness analysis using extended data from 2010 to mid-2025 further supports the conclusion, showing the continued presence of strong comovement between the two indices across different market regimes. This suggests a structural relationship rather than one driven solely by crisis events. The high correlation may be attributed to overlapping index constituents and similar investor responses to market shocks. These results challenge the prevailing notion that Islamic indices inherently offer protection during downturns. As such, investors seeking to mitigate portfolio risk may need to look beyond domestic sharia equities and consider broader asset classes or international diversification. Future research is encouraged to explore cross-market and multi-asset safe haven properties, especially in the context of emerging economies.

The purpose of this study is to determine the effect of compensation, employee well-being and work motivation as intervening variables on employee performance, this study will test the direct and indirect effects. In this study using quantitative research methods. The number of samples used in this study totalled 112 respondents. By using saturated sampling technique where the entire population is sampled. By using Smart PLS version 3, the analysis results show that 1) compensation has a significant effect on employee well being 2) compensation has a significant effect on work motivation 3) compensation has a significant effect on employee performance 4) employee well being has a significant effect on employee performance 5) work motivation has a significant effect on employee performance 6) compensation mediates the effect of employee well being on employee performance 7) compensation mediates the effect of work motivation on employee performance.

This research explores how the Direct Cash Transfer (BLT) program is implemented in Manubar Village, Sandaran Sub-district, as a government effort to assist low-income families. The research looked at different types of assistance, including BLT Dana Desa, Program Keluarga Harapan (PKH), and Non-Cash Food Assistance (BPNT), designed to help meet people's basic needs. The research aims to identify the types of assistance provided, evaluate how well they are implemented, and understand their impact on community welfare in areas such as the economy, education, clothing, food, and health. Using a descriptive qualitative approach, this research collected information through interviews with eight beneficiaries, observation, and documentation. The results showed that BLT significantly helped improve living standards, especially by fulfilling basic needs. From an Islamic economic perspective, the program embodies the values of social justice, honesty, and beneficence that are in line with the principles of wealth distribution in sharia. BLT is seen as a clear example of the government's role in improving community welfare in a targeted and meaningful way.