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The principle of "Al-Umuru Bi Maqasidiha," meaning "everything depends on its purpose," is one of the main principles of Islamic law that plays a crucial role in Islamic economic practices. This research aims to outline the meaning, legal basis, branches, and application of this principle in modern economic activities. The method used is a literature review, examining the Quran, Hadith, the opinions of scholars, and contemporary studies related to Islamic economics. The results of the study indicate that intention is a key factor in determining the validity or invalidity of an act, both in worship and transactions. This principle is relevant to addressing contemporary transaction developments, such as Islamic banking, fintech, and digital investment instruments, by emphasizing objectives aligned with the maqasid al-shariah (Islamic principles). The evolving branches of this principle emphasize the role of intention in distinguishing between custom and worship, establishing the validity of contracts, and transforming permissible activities into acts of worship. Its application in Islamic economics encompasses transaction contracts, asset management (mal), and Islamic banking practices, all of which are directed toward achieving benefits and preventing harm. In conclusion, the principle of Al-Umuru Bi Maqasidiha (The Principle of Proper Conduct and the Principle of Good Conduct) is highly urgent in building an Islamic economic system that is just, imbued with integrity, and oriented toward blessings.

Digital technology chance in Indonesia presents both occasions and constraint for the development of Islamic economics, particularly in implementing Islamic business strategies through e-commerce. The adoption of digital technology, including Islamic fintech and halal e-commerce, has expanded market access, improved efficiency, and strengthened MSME competitiveness while adhering to sharia principles. This study employs a qualitative method using library research and the maqāshid shariah framework to examine the role of digital innovations such as fintech and blockchain in supporting Islamic entrepreneurship. The findings indicate that Islamic business strategies in the digital era have the potential to broaden international market reach, enhance transaction clarity, and reinforce compliance with sharia principles. Furthermore, digital innovation aligns with maqāshid shariah objectives, focusing on the protection of religion, life, intellect, lineage, and wealth. However, challenges remain, including low digital literacy, complex sharia regulations, and the risk of platform misuse. Therefore, cross-sector collaboration, the enhancement of digital and Islamic economic literacy, and strengthening the role of sharia e-commerce supervisory bodies are essential to build a fair and sustainable business ecosystem. With these strategic measures, digital technology integration can serve as a key instrument in strengthening the ummah’s economy, promoting financial inclusion, and positioning Indonesia as a global hub for Islamic economics.

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.

The digitalization of the sharia economy in Indonesia presents a great opportunity to expand financial inclusion, accelerate the transaction process, and improve the efficiency of the economic system based on Islamic values. This study aims to examine the dynamics of opportunities and challenges for the digitalization of the sharia economy amidst the development of the digital economy. Using a qualitative descriptive approach and thematic analysis techniques, this study reveals that innovations such as sharia fintech, halal e-commerce, and sharia digital banking have significantly driven the progress of the sharia economy. However, challenges such as low digital literacy, infrastructure inequality, and weak sharia-specific regulations are still major obstacles. The results of this study emphasize the importance of increasing sharia digital literacy, synergy between stakeholders, strengthening regulations, and developing competent human resources to ensure that the digitalization of the sharia economy remains in line with the principles of maqashid sharia and can develop inclusively and sustainably in Indonesia.

This paper explores the potential of integrating Sharia-compliant financial technology (fintech) innovations with sukuk issuance to drive sustainable infrastructure development in emerging economies. With the rise of digital transformation and the increasing focus on sustainable development, the Islamic financial system provides a unique opportunity to reconcile financial innovation with ethical principles. The study highlights how Sharia fintech platforms, such as crowdfunding and blockchain, can enhance the efficiency, transparency, and accessibility of sukuk as a financial instrument. At the same time, sukuk addresses the significant financing gap in infrastructure development while adhering to Islamic principles, such as avoiding riba (interest), gharar (uncertainty), and maysir (speculation). Through a comprehensive literature review and empirical analysis, this research identifies the gaps in existing approaches to financing sustainable infrastructure in emerging economies and proposes a novel integration framework. Findings suggest that the convergence of Sharia fintech and sukuk can facilitate financial inclusion, attract a broader investor base, and accelerate infrastructure financing. Furthermore, this integration supports the achievement of the Sustainable Development Goals (SDGs) by ensuring that financial tools align with social justice and environmental stewardship. This study contributes to the growing body of knowledge on Islamic finance by providing actionable insights for policymakers, financial institutions, and fintech developers. It emphasizes the importance of regulatory frameworks and cross-sector collaboration to unlock the full potential of Sharia-complian

Women's empowerment in the sharia economy has great potential in improving family welfare. However, strategic steps are still needed to overcome the various obstacles faced, both in terms of sharia financial education, access to capital, and social support. Women's empowerment in the sharia economy can be realized through various forms, such as micro, small, and medium enterprises (MSMEs) based on halal and thayyib principles, sharia-based financial management, and the use of sharia fintech to expand access to capital. From the results of interviews and observations, it was found that women's empowerment in the sharia-based economy contributed significantly to improving family welfare.

Financial inclusion is an important pillar in equitable economic development, especially in Indonesia with a majority Muslim population. However, the contribution of Islamic financial institutions (LKS) to national financial inclusion is still low due to limited innovation, access, and public literacy about Islamic finance. This study aims to analyze the role of LKS innovation in accelerating financial inclusion in Indonesia. The research method uses a descriptive qualitative approach with literature studies and secondary data analysis from various related reports and publications. The results show that service digitalization, product diversification, and strengthening the halal ecosystem are the main strategies of LKS innovation. Digital innovations such as sharia mobile banking, fintech, as well as microfinance services and the halal sector have proven effective in expanding access to Islamic finance, especially for MSMEs and communities in remote areas. Synergy between the government, regulators, and industry players is needed to create an inclusive and sustainable Islamic financial ecosystem. The implications of this study emphasize the importance of continuous innovation and Islamic financial literacy education to increase the role of LKS in supporting national economic growth based on Islamic values.

The development of digital technology has brought various innovations to the financial system, one of which is sharia crowdfunding. As a form of technology-based fundraising based on sharia principles, this mechanism aims to avoid elements of usury, gharar, and maysir which are prohibited in Islam. This article discusses the legal aspects and operational mechanisms of sharia crowdfunding from the perspective of Islamic law and regulations in Indonesia. By using a qualitative research method based on literature analysis, sharia crowdfunding has a strong legal basis through the fatwa of the National Sharia Council-Indonesian Ulema Council (DSN-MUI) and the regulations of the Financial Services Authority (OJK). In practice, sharia crowdfunding uses various contracts such as mudharabah, musyarakah, and wakalah bil ujrah to ensure fair and transparent transactions. Although it has promising prospects, challenges such as lack of sharia financial literacy, limited specific regulations, and digital security aspects are still major obstacles in its implementation. Therefore, collaboration between regulators, industry players, and the community is needed to encourage a more inclusive and sustainable sharia crowdfunding ecosystem.  

Technology-based financial innovation has led to the emergence of crowdfunding platforms, which are now expanding into the realm of Islamic finance. This study aims to examine how the principles of Islamic economics are integrated into Sharia-compliant crowdfunding practices, particularly in financing Micro, Small, and Medium Enterprises (MSMEs) in Indonesia. The research employs a qualitative descriptive approach through literature review and case studies of several prominent Sharia crowdfunding platforms in Indonesia. The findings show that Sharia crowdfunding not only adheres to Islamic principles such as the prohibition of riba (usury) and gharar (uncertainty), but also applies concepts of justice, transparency, and partnership within contract structures. However, challenges related to Sharia financial literacy, regulation, and public trust remain significant obstacles. This study recommends enhancing Sharia financial literacy and strengthening regulations to support a sustainable Sharia crowdfunding ecosystem.

Indonesia's Sharia capital market has experienced significant growth in the past decade, along with rising public awareness of Islamic economic principles and the adoption of digital technologies. This study aims to analyze the role of digital transformation in supporting the development of the Sharia capital market and to identify structural challenges, particularly in regulatory, financial literacy, and cybersecurity aspects. The methodology used is descriptive qualitative with a literature study approach, drawing on secondary data from reputable journals and official publications from OJK and the Indonesia Stock Exchange. The results indicate that while technological transformation has opened significant opportunities such as increased financial inclusion and youth investor engagement, the Sharia capital market still faces serious challenges related to unadaptive regulations, cyber threats and low investor literacy. This study recommends synergy between regulators, industry players and educational institutions to strengthen a sustainable Sharia capital market ecosystem.    

This study examines the role of technology and innovation in supporting the growth of the Islamic economy in Muslim countries. The development of digital technology has brought significant changes to people's lives, particularly in economic activities. The presence of the internet, smartphones, and various digital platforms has made economic activities easier, faster, and more practical. This research shows that technology and innovation have a significant influence on the development of the Islamic economy. Technology helps people access Islamic economic services more easily and efficiently. Overall, technology and innovation play a crucial role in strengthening the growth of the Islamic economy in the digital era. Therefore, support from the government, financial institutions, the business community, and the public is needed to ensure that the use of technology in the Islamic economy can develop optimally and remain in accordance with Sharia values.

This research analyzes the role of Islamic business ethics in investment decisions in Islamic financial institutions. The background is the rapid growth of the Islamic economy, so that Islamic values such as the prohibition of riba/gharar/maisir, fairness, and transparency become important as a foundation for fair and sustainable investmentsfile. The objective is to explore how sharia principles influence the selection process and investment decisions. The method used is a comprehensive literature study, with literature analysis from books, journals, and academic publications related to Islamic economics. The main findings show that Islamic financial institutions incorporate Islamic ethical values into their investment practices: Islamic banks exercise supervision by the Sharia Supervisory Board and specific codes of conduct; Islamic mutual funds and capital markets apply screening through the Sharia Securities List and DSN-MUI fatwas; Islamic fintech refers to DSN fatwas and emphasizes transparency of fees as well as fairness of return distribution. In conclusion, the integration of Islamic ethical values in the investment process helps build a sustainable and fair Islamic investment system, by emphasizing honesty, fairness and social responsibility in every investment decision.

The rapid growth of financial technology (fintech) has significantly transformed the funding landscape for Small and Medium Enterprises (SMEs), offering innovative financial solutions beyond traditional banking institutions. This study presents a bibliometric analysis of fintech’s role in SME financing, identifying emerging trends and research gaps. Utilizing bibliographic coupling and co-occurrence network analysis, data from Scopus were analyzed to uncover the intellectual structure and evolution of research in this field. The results highlight key themes, including the integration of blockchain, peer-to-peer lending, financial inclusion, and crowdfunding in SME financing. A particular focus on Islamic finance and Islamic crowdfunding indicates a growing interest in alternative financing mechanisms that align with Sharia principles. Additionally, the study reveals an increasing academic focus on fintech adoption in developing economies, particularly in Indonesia and Nigeria, where access to capital remains a critical challenge. The findings underscore fintech’s role in democratizing financial access for SMEs, bridging funding gaps, and fostering economic growth. Future research should investigate regulatory frameworks, risk management strategies, and technological adoption models to optimize the impact of fintech on sustainability in SME financing.

The implementation of Islamic economics in the modern financial system is an effort to create an economic system that is fair, transparent, and sustainable, based on the principles taught in the Qur'an and Sunnah. The main principles of Islamic economics, such as the prohibition of riba (interest), fairness in transactions, zakat, the prohibition of gharar (uncertainty), and the balance in wealth distribution, provide a strong foundation for the formation of a more inclusive and social economic system. However, its implementation in the era of globalization faces various challenges, such as the lack of uniformity in Islamic legal standards across countries, differences in legal interpretations, and the integration of new technologies like fintech, blockchain, and cryptocurrency, which often conflict with Islamic principles. One solution that can be pursued is the development of Sharia-compliant digital financial products that adhere to the principles of fair and transparent transactions. On the other hand, Islamic financial institutions need to improve operational efficiency and strengthen the Sharia Supervisory Board (SSB) to ensure that financial products are in line with Sharia principles. Education and training in Islamic economics are also key to building a better understanding and accelerating the adoption of Islamic economic principles in the global financial system. Through close collaboration between Islamic financial institutions, regulators, and educational institutions, it is hoped that Islamic economics can provide a more ethical and sustainable alternative in the international market.

Through literature studies and case analysis, this research in-depth examines the sharia fintech business model based on zakat and waqf. This research identifies potential, challenges, and provides policy recommendations to support the growth of this business model. The research results show that this business model has great potential in increasing financial inclusion and expanding the reach of beneficiaries. This research aims to examine how sharia fintech can contribute to improving social welfare through more effective management of zakat and waqf

Fintech (Financial Technology) has experienced a very rapid increase in Indonesia over the past few years and has an important role in the economy. This journal aims to explain the opportunities and challenges of Fintech in Indonesia. This research uses a qualitative descriptive approach method by analysing various references related to the development of fintech in Indonesia. In the results of this journal research explain that the development of Fintech in Indonesia from year to year continues to increase, Fintech opportunities continue to increase, especially sharia fintech, supported by the majority of the population who are Muslim Kharisma. While the challenge of Fintech is the absence of clear and comprehensive regulations to regulate fintech activities, especially coordination between related institutions such as Bank Indonesia and the Financial Services Authority (OJK).

Disruption of Islamic financial institutions in technology has become a necessity due to developments in technology and information. This development is expected to make it easier for sharia financial institutions to provide operational services. Collaboration with financial technology (fintech) is a good thing in its development. Fintech, which was originally a rival, has changed its paradigm to become a partner. This is a phenomenon why the revolution in technology and fintech collaboration is very important, so that Islamic financial institutions are aware of these developments. And in tandem with facilitating institutions to socialize and regulate technology and fintech.

The background of this research is that the transformation of the global economy has encouraged innovation in various sectors, including the Islamic economic sector in recent decades. The emergence of digital financial technology (FinTech) has provided new opportunities for the Islamic economy to encourage inclusive and sustainable growth. This research uses a literature study research method by reviewing and analyzing several journals that are closely related to the topic of discussion. This literature study approach involves collecting, evaluating, and analyzing various relevant literature sources to understand the interrelationship between the Islamic economy, digital fintech innovation, and sustainability principles. The result of this study is that the role of technology in supporting halal transactions includes technology can be an effective tool to increase awareness and understanding of Islamic financial principles, technology can be used as a campaign site to spread information about Islamic economics through interesting and easy-to-understand content, technology can create websites that focus on Islamic economics, and financial transactions can become easier and more efficient. Islamic fintech utilizes technological advances to offer transparent, efficient, and secure financial services to the unbanked. In addition, Islamic fintech supports sustainability by following sharia principles that prohibit riba (interest), gharar (uncertainty), and encourage fair and transparent financing.

In the current digital era, not all human needs can be separated from technology. Technological developments in the field of finance known as financial technology (fintech) mean that all companies, especially banking, including Sharia banking, must take advantage of the role of fintech as a tool to increase competitiveness in the digital era. The development and use of Sharia banking technology is still a matter of concern, because it is feared that it will not be in line with Islamic economic views. This research aims to analyze the ability of Sharia banking institutions in Indonesia to maintain their existence in the digital era. Bank Syariah Indonesia has the potential to survive in the current era by utilizing existing technology through human resources and the presence of fintech.

This research explores the digital transformation in Islamic philanthropy, particularly through the optimization of zakat and waqf management using Islamic fintech. The digital economy and fintech present significant opportunities to enhance the efficiency and transparency in collecting and distributing Islamic philanthropic funds. By leveraging modern financial technology, zakat and waqf can be managed more effectively, ensuring precise and accountable distribution. The study also emphasizes the importance of Islamic financial literacy in supporting public participation in the digital economy. The findings show that integrating fintech in zakat and waqf management not only improves transparency and efficiency but also strengthens public trust in the Islamic financial system. Therefore, this research suggests further development of Islamic fintech technologies and enhanced educational programs to support the growth of Islamic philanthropy in the digital era. The research further emphasizes the necessity for comprehensive financial education programs and easily accessible information to enhance Islamic financial literacy among the broader public. Collaborative efforts between the government, financial institutions, and educational bodies are crucial to developing and promoting fintech solutions that comply with Sharia principles. Integrating technology into Islamic philanthropy not only optimizes fund management but also contributes to broader social and economic development goals by supporting more inclusive and sustainable growth. Consequently, Islamic fintech holds immense potential to revolutionize the management of zakat and waqf, fostering a more resilient and trusted financial ecosystem within the Muslim world.