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Nadia Ishak

The Islamic Digital Economy (IDE) has emerged as a transformative force, unlocking new opportunities for sustainable development within the global Muslim community (Ummah). This paper explores the multifaceted dimensions of IDE and its potential impact on Ummah sustainability. The IDE encompasses a wide array of digital technologies, including but not limited to fintech, e-commerce, blockchain, and artificial intelligence, all aligned with Islamic principles. By leveraging these technologies, the Ummah can foster economic growth, financial inclusion, and social development while adhering to ethical and Sharia-compliant practices. This paper delves into the key components of IDE, examining its role in promoting entrepreneurship, enhancing financial literacy, and fostering innovation within the Ummah. Moreover, it explores the potential of IDE to address societal challenges such as poverty, unemployment, and income inequality through inclusive and sustainable economic models. In addition, the paper highlights the importance of regulatory frameworks that support the growth of IDE, ensuring that it aligns with Islamic values and principles. It also underscores the need for educational initiatives to enhance digital literacy within the Ummah, empowering individuals to fully participate in the digital economy. Through a comprehensive analysis of the opportunities and challenges associated with IDE, this paper aims to provide insights for policymakers, businesses, and communities seeking to harness the full potential of the Islamic Digital Economy for the sustainable development of the Ummah. By embracing IDE, the Ummah can not only navigate the digital age successfully but also contribute to a more inclusive, ethical, and sustainable global economic landscape.

Farah Qalbia; M. Reza Saputra

JURNAL MANAJEMEN DAN BISNIS EKONOMI 2023 Institut Teknologi dan Bisnis (ITB) Semarang

Digital transformation in Indonesia presents significant opportunities and challenges for the Islamic economy, particularly in digital-based entrepreneurship. This study aims to analyze the potential and barriers to implementing Islamic digital entrepreneurship and the role of technology in enhancing financial inclusion and business efficiency. The research employs a qualitative method with a literature review approach, examining relevant studies on the development of Islamic fintech, halal e-commerce, and blockchain technology. The findings show that Islamic digital entrepreneurship has the potential to expand global market access, improve transaction transparency, and strengthen adherence to Sharia principles. However, significant obstacles such as low financial digital literacy and the complexity of Sharia regulations still need to be overcome. Additionally, cross-sector collaboration and an increase in digital literacy within society are required in order to support the development of an inclusive and sustainable Islamic economy. The conclusion of this study emphasizes the importance of digital technology integration in Islamic entrepreneurship as a strategic step to strengthen the stability of the Islamic economy amid global changes.