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This research aims to provide a deeper understanding of the basic differences between bonds and sukuk, as well as the implications for Muslim investors in choosing investment instruments that comply with sharia financial principles. The money method used is descriptive-analytical with a qualitative approach to compare bonds and sukuk from a sharia financial perspective. Data was obtained through literature studies from journal literature and official documents related to these two financial instruments. The results of this research are first, although sukuk and bonds are almost similar, if examined more deeply, the two have contradictory characteristics. The main difference is in the use of sharia principles in sukuk while bonds do not. Second, conventional bonds do not require collateral assets, while sukuk must have collateral assets. Third, sukuk is not a debt and receivable instrument that charges interest (riba) like bond transactions, but just like sukuk bonds are part of an investment instrument. Fourth, in terms of offering price, maturity, bond principal at maturity, and rating between sukuk and bonds there is no difference.

The development of Islamic banks is considered to have a positive impact on improving the economy of the community, which creates the impression that the revival of the Islamic economy is part of the revival of the Muslim economy. This is marked by the enthusiasm of the community in welcoming the presence of Islamic banks. This study uses a normative juridical method that focuses on the analysis of the application of positive legal norms or legal rules that apply in Indonesia, as well as the approach taken through relevant laws and regulations, with a conceptual approach. The implementation of Islamic banking law in the Indonesian banking system is regulated through the Banking Law, which shows the existence of Islamic banking in Indonesia. However, in reality, the application of sharia principles in the banking sector is still mixed with conventional banking, so that Islamic banks are often considered only as a title, because they have not been able to operate independently and fully implement the sharia principles that they should.

The rapid advancements in Artificial Intelligence (AI) have raised significant ethical concerns across various sectors, necessitating the need for robust ethical frameworks to guide their development and implementation. This study explores the intersection of AI ethics and Islamic law, focusing on how Maqāṣid al-Sharīʿah, the higher objectives of Islamic law, can be applied to AI governance. By examining key Islamic principles such as justice, transparency, privacy, and human dignity, the study investigates how these values can provide a moral compass for addressing AI-related ethical challenges, such as algorithmic bias, privacy violations, and the erosion of human autonomy. The Maqāṣid al-Sharīʿah framework offers a proactive and vision-oriented approach, prioritizing societal well-being while ensuring the alignment of AI technologies with Islamic moral standards. Unlike traditional Islamic legal responses, which are often reactive and case-specific, the Maqāṣid approach promotes the anticipatory evaluation of technologies, emphasizing the need for a balance between technological innovation and ethical responsibility. The paper also discusses potential solutions to bridge the gaps between global AI ethics frameworks and Islamic ethical standards, including interdisciplinary collaboration and the development of hybrid regulatory models. Additionally, it highlights the need for continuous updates to Islamic legal frameworks to address emerging technological issues, ensuring that AI systems are ethically sound, Shariah-compliant, and beneficial to society. This study aims to contribute to the growing discourse on the ethical implications of AI from an Islamic perspective, offering insights into how Islamic law can play a crucial role in shaping the future of AI governance.

This study aims to analyze the implementation of strategic management and risk management at Bank Mandiri Syariah (BMS) and its impact on the bank's performance and stability. This research adopts a qualitative approach by utilizing data from previous studies related to the research topic. The findings of this study indicate that BMS has implemented strong risk management practices, including risk identification, measurement, monitoring, and control. Additionally, strategic management plays a role in determining the direction of the bank and ensuring compliance with Sharia principles. The study concludes that the integration of strategic management and risk management is crucial for BMS to maintain its competitiveness and sustain growth in the dynamic Islamic banking industry.

This abstract discusses the role of market mechanisms in an Islamic perspective, as well as the implications and application of Islamic economic principles in the market system. Using the literature review method, this research collects, evaluates, and synthesizes relevant literature to gain an in-depth understanding of the topic. The results of the analysis show that markets in Islam are seen as a natural mechanism for exchanging goods and services, with prices determined by the forces of demand and supply. Islamic economic principles, such as justice, expediency, and the prohibition of usury, are the foundation for a fair and sustainable market system. Apart from that, the importance of market supervision and compliance with market ethics is also emphasized to maintain balance and fairness in economic activities. The analysis also highlights prohibitions in Islamic transactions that can cause market distortions. In addition, this abstract presents a comparison between conventional economic systems (capitalist, socialist, and mixed) with Islamic economic systems, which are based on sharia principles. Thus, this research contributes to understanding the concept of market mechanisms in Islam and formulating economic policy recommendations that are in accordance with Islamic values.    

Islamic consumption is the activity of using or utilizing goods or services that are guided by Islamic values. There has been a lot of research that examines Islamic consumption, but there is still little research that discusses Islamic consumption from the perspective of Markash law. Documentary research is a research method where the researcher is present and plays a role in collecting data, processing data, presenting and analyzing data, and writing conclusions. The findings show that Islamic consumption must adhere to principles such as sharia or divine principles, the principle of quantity accuracy, the principle of prioritization of needs, and moral principles. Meanwhile, in Islamic law, Islamic consumption must be able to achieve the preservation of religion, the preservation of lineage, the preservation of reason, the preservation of soul, and the preservation of property. All the principles contained in Islamic consumption are intended to make Muslim consumption a form of worship, provide benefits and eliminate evil in accordance with sharia law.

The aim of this research is to determine the influence of digital transformation in sharia auditing to build the future of the auditor profession with the latest technology. This research uses a qualitative approach. The results of the discussion show that digital transformation must ensure that the technology adopted continues to comply with sharia principles, both in product development and in carrying out transactions. Public awareness and understanding of technological innovation needs to be increased through digital literacy and education programs so that they can respond well to this transformation. There is a need for a clear and adaptive regulatory framework to support digital transformation and ensure that innovation remains in line with sharia values ​​and Islamic financial regulatory policies. In facing these changes, involving the community in the technology development process and listening to their needs is a must

The concept of accrual accounting is a basis commonly applied in financial institutions in Indonesia. However, Islamic banks have a different perspective on implementing the accrual accounting concept. This research aims to analyze the application of accounting recording methods with the concept of accrual accounting in sharia banking. The research method is descriptive qualitative research with data collection techniques in the form of library research. The findings show that the implementation of the accrual accounting concept in sharia banking cannot be fully implemented because there are elements that conflict with sharia principles. These elements are uncertainty and gharar, as well as the high potential for institutions to fall into earnings management practices. This makes sharia banking apply a limited accrual method and adapt it to sharia principles. In calculating profit sharing, Islamic banking does not apply accrual accounting because it requires real cash inflows and receipts. Islamic financial institutions can use accrual accounting for financial reports which aims to increase transparency and accountability before stakeholders.

Companies such as financial institutions in carrying out operational activities always want to obtain high profits such as profit engineering. Earnings engineering is one of the contemporary issues in finance, especially in Indonesia. In several reports in a large company there are 77% of senior managers involved in unethical behavior by carrying out scandals that are motivated by earnings management. This is problematic for the development of accounting, especially sharia accounting. Study aims to analyze the implementation of Islamic earnings management in Islamic accounting. In this study teh method use is the literatur review by collecting secondary data from various related journal. The results show that there are still earnings engineering practices in companies and financial institutions in Indonesia. For this reason, sharia principles really need to be emphasized in order to improve the quality of sharia accounting that is completely free from fraudulent practices. One of the appropriate efforts is to apply sharia accounting in conducting profit-sharing financing, proper and effective monitoring must be carried out with adequate supervision and reporting, so that companies such as Islamic banks or companies can avoid earning management and profit engineering. Financial institutions that apply sharia accounting principles are required to implement Islamic earnings management as a profit management practice in accordance with Islamic religious rules and ethics.

In financial and economic management activities, the term banking is often known, both conventional banking and Islamic banking. Islamic banking is a financial institution that plays an important role in managing people's funds. Islamic financial institutions generally have a variety of products offered to the public. In banking activities, there are two main functions of the bank, namely as a savings and loan institution. The purpose of this article is to discuss and analyze related to one of the Islamic bank products, namely loan products that apply the Qardh contract to Islamic financial institutions. The results of the study indicate that the implementation of the Qardh contract in Indonesia is adjusted to the pillars, qardh requirements, and shigat qardh. Qardh contract can be interpreted as a loan that must be returned in the same amount with a certain pre-agreed period. In other words, Qardh is a loan without profit. If it is technically reviewed, then this loan will be given to someone or a sharia financial institution to another person who is used for emergency or urgent needs. The implementation of sharia accounting with Qardh contracts in Indonesia is guided by Law Number 21 of 2008 concerning Sharia Banking in Article 35 paragraph (1) which states that in practice sharia banking is required to implement the 5C principles, namely character, capacity, capital, condition of economy, and collateral.

Profit-sharing system in Islamic banks is one of the applications of Sharia since interest contradicts Islamic law. Islamic banks can engage in banking activities like non-Islamic banks as long as they do not contradict Sharia principles. Salam accounting is in the financial statements of PT Bak Syariah Indonesia and to ascertain the conformity of the accounting implementation with PSAK No. 59 and the Fatwa of DSN MUI. aimed at providing an overview of the object based on observable facts and providing an examination of the financial statement application comparison between the research item, PSAK No. 59, and the DSN MUI Fatwa. The findings indicate that PT Bak Syariah Indonesia employs Salam contracts with the following service items in order to execute Sharia accounting for Sharia service products: The application of Sharia accounting for Sharia service goods at PT Bak Syariah Indonesia, as well as Qardh: Haji Guarantee Fund, Export L/C, is in accordance with PSAK No. 59.

The integration of Sharia principles with Environmental, Social, and Governance (ESG) frameworks presents a unique opportunity to enhance ethical accountability and sustainability in Islamic financial institutions. This study employs an analytical-descriptive research design, utilizing secondary data from annual sustainability reports, Sharia compliance documentation, and regulatory publications, to examine the adoption of ESG principles in the Islamic finance sector. Findings indicate that Islamic banks have achieved high levels of governance (90%) and social (85%) implementation, while environmental initiatives lag (62%), reflecting the need for stronger alignment with the khalifah fil ardh (stewardship of the earth) principle. The research also demonstrates a positive correlation between ESG implementation and investor confidence, with institutions exceeding 80% ESG adoption achieving an Investor Confidence Index of 92 points compared to 65 points among lower-performing banks. Despite conceptual synergy between ESG and Sharia principles centered on justice (adl), social welfare (maslahah), and environmental stewardship (khalifah) practical integration faces challenges including limited green financing instruments, regulatory fragmentation, and insufficient standardized ESG reporting tailored to Islamic finance. To address these issues, the study proposes an integrative ESG Sharia model emphasizing ethical foundations as the core of sustainable practices. Recommendations include developing Maqasid al-Shariah–based ESG indicators, expanding engagement in green financing and renewable energy projects, and adopting digital sustainability reporting. This integrative approach supports both global sustainability goals and the ethical imperatives of Islamic finance, contributing to a value-based, socially responsible, and spiritually aware financial ecosystem.

This study analyses the transformation of economic policy based on the results of the 8th Ijtima Ulama of the Indonesian Fatwa Commission which aims to achieve national economic independence. This policy focuses on strengthening the use of domestic products, empowering UMKM, protecting the national workforce and strengthening the Sharia Economy. A qualitative approach was used to explore the views of economic experts regarding the implementation of the policy. The results show that the use of domestic products, empowerment of UMKM, and protection of national labour are strategic steps to reduce economic inequality and improve people's welfare. This study underlines the importance of synergy between the government, businesses and the community in creating a fairer and more inclusive economic system, based on sharia principles, to achieve sustainable economic independence. The findings provide concrete recommendations for the development of more effective and equitable economic policies.

Comparative analysis between sharia and non-sharia financial reports has become an increasingly relevant topic in the context of continuously developing global financial markets. In this study, we evaluate the differences in approaches, principles, and practices underlying these two types of financial reports. The results of the analysis highlight the implications of these differences in financial practices, economic growth, and financial market inclusivity. The discussion also highlighted the potential for collaboration between the two types of finance to produce innovation and best practices in financial and investment management.    

The purpose of writing this analysis is to investigate the financial performance achievements of Bank Syariah Indonesia (BSI) and Bank Muamalat in the Maqashid Syariah Index, with a focus on profitability, liquidity, asset growth, operational efficiency and sustainable service. The research method used is a literature study, which involves collecting and analyzing data from various relevant and reliable literature sources, including public financial reports, academic books, scientific journals, and other official documents. The research results show that both banks have demonstrated a strong commitment to sharia principles in their operations, with adequate performance in key aspects such as profitability, liquidity, asset growth, operational efficiency and sustainable service. Thus, this analysis provides an in-depth understanding of the contribution of BSI and Bank Muamalat to a sharia-based economy and achieving sharia goals in a broader context.    

In the literature study related to evaluating the efficiency and profitability of Islamic insurance through financial statement analysis, previous studies highlighted various methods and approaches used to measure the performance of Islamic insurance companies. Financial statement analysis is the main focus in identifying factors that affect the operational efficiency and profitability of Islamic insurance companies. Some studies have used traditional financial ratios such as solvency, liquidity, and profitability ratios to evaluate the performance of Islamic insurance. However, due to the unique characteristics of Islamic insurance, studies have also proposed the development of specific metrics that take into account sharia principles, such as sharia compliance ratios and fairness ratios. In addition, non-financial approaches such as technical efficiency and allocative efficiency analysis have also been used to evaluate the operational efficiency of Islamic insurance. This research shows that factors such as scale of operations, business diversification, and managerial efficiency can contribute to the efficiency performance and profitability of Islamic insurance companies. Although there have been many studies conducted in this domain, there is still a need for more in-depth follow-up research to better understand the factors that influence the efficiency and profitability of Islamic insurance. With a better understanding of the performance of Islamic insurance companies, regulators and practitioners can develop more effective strategies to improve the stability and growth of this industry.

Pakistan's legal landscape is characterized by a complex interplay of various legal systems, including Islamic law (Sharia) and secular legal frameworks inherited from colonial legacies. This paper seeks to explore the dynamics of legal pluralism in Pakistan, focusing on the coexistence and interaction of Islamic law and secular legal systems within the country's judiciary and legal institutions. Through a comparative analysis, the paper aims to examine the historical evolution, sources, principles, and application of both Islamic law and secular legal systems in Pakistan, shedding light on their respective roles, conflicts, and accommodations within the Pakistani legal framework. Additionally, the paper will critically assess the challenges and opportunities posed by legal pluralism in Pakistan, particularly in terms of ensuring justice, rule of law, and human rights in a diverse and rapidly changing society.

Financing in Islamic banks today is dominated by Murabahah contracts. The purpose of existing research is to explain how the existence of Murabahah financing in Islamic banking serves the community and assess whether the contracts executed comply with the Fatwa of Majelis Ulama Indonesia. This research is a library-research focused on examining and discussing modern and classical literature. Data collection is conducted through documentation methods from various sources including national and international journals, as well as books. The data is then analyzed using content analysis, which includes descriptive analysis and scientific analysis of premium messages. The findings of this research indicate that Murabahah financing is predominantly conducted by Islamic banks for community financing. In the application of Murabahah financing, Islamic banks act as fund providers rather than sellers. The Murabahah contracts in classical fiqh have undergone changes, which have been criticized by various segments of society. It is noted that there are contemporary issues arising in Murabahah financing transactions that do not align with Sharia principles and the Fatwa of Majelis Ulama Indonesia.

The purpose of this research is to determine the description of profit sharing in sharia accounting to achieve the principles of justice. This research uses a qualitative descriptive approach with a post-positivist paradigm. The informants in this research used data collection techniques using interviews, observation and documentation. Research shows that the profits generated by companies are not just the result of the work of a group of people. However, many stakeholders are involved, including fund owners, employees and the environment. With an impartial perspective, profits can benefit all parties involved, not just a handful of executives.

Conceptual understanding of riba and its influence in Islamic economics is an important subject in the context of Islamic finance. This research highlights the conceptual understanding of riba and its implications from the perspective of Islamic economics. Through a literature review approach, this article explores various views and arguments related to riba in Islam and Islamic economics. The analysis in this article underscores the need for a deep understanding of riba in the context of Islamic economics. Through this approach, policies can be formulated to promote principles of justice, equality, and sustainability in the Islamic financial system. Practical implications include profit-sharing systems such as mudharabah and musyarakah being used to replace riba practices, ensuring fairness and equality among parties involved in transactions. Additionally, a deeper understanding of Sharia economics and strict supervision of riba practices in the financial sector are crucial to assist individuals and institutions in managing finances in accordance with Islamic law. In conclusion, the conceptual understanding of riba and its influence from the perspective of Islamic economics is an important aspect in building a financial system that aligns with Islamic principles. By understanding the implications of riba, society can take more sustainable and equitable steps in developing Sharia-based economies.