Micro, Small, and Medium Enterprises (MSMEs) are an important part of the Indonesian economy, but many MSMEs still have difficulty using technology and transforming into sharia-based businesses. This study aims to analyze how technological innovation, especially e-commerce, can help MSMEs adapt to sharia business principles. Using a qualitative approach and literature study, this study examines the literature on sharia e-commerce, digital innovation, and the development of MSMEs in the digital era. The results show that e-commerce has great potential to expand the market, increase efficiency, and support sharia transactions such as interest-free financing. In addition, cooperation between digital platforms and sharia financial institutions can strengthen the halal economy. However, challenges such as low digital literacy, lack of infrastructure, and competition from large companies still exist. Therefore, it is important for all parties to cooperate to encourage the digitalization of MSMEs in an inclusive manner and in accordance with Islamic values. Keywords : MSMEs, e-commerce, technology innovation, sharia business, digital transformation.

This study examines the potential of productive waqf as an alternative financing mechanism for Micro, Small, and Medium Enterprises (MSMEs) in Indonesia within the framework of Islamic business law. Amid limited access to conventional financing due to administrative and interest-based barriers, productive waqf emerges as a sharia-compliant and socially inclusive solution. Using a qualitative-descriptive method through library research, the study analyzes literature from academic sources and waqf institutions. The findings show that productive waqf not only offers capital assistance but also empowers MSMEs through training, infrastructure, and fair financing schemes. This financing model aligns with Islamic principles such as justice, prohibition of riba and gharar, and public benefit (maslahah). Successful implementations by institutions like Dompet Dhuafa and Bank Wakaf Mikro demonstrate its effectiveness in increasing business capacity, income, and job creation. The study concludes that productive waqf can significantly contribute to sustainable and equitable economic development when supported by strong regulation, professional nazhir management, and broader public awareness.Keywords: Islamic business law, MSMEs, productive waqf, alternative financing, sharia economy

Money laundering is a financial crime that undermines economic stability and ethical standards, particularly when viewed through the lens of Islamic economics. This study aims to analyze money laundering from both ethical and regulatory perspectives, focusing on how Islamic values can complement positive law in combating financial crimes. Using a qualitative normative approach, the research relies on interpretative analysis of legal documents, Islamic economic principles, and scholarly articles. The findings reveal that the conventional legal system, while imposing strict penalties through laws such as Indonesia’s Law No. 8 of 2010, often lacks moral foundations, making enforcement less effective. Islamic economics offers a holistic alternative, emphasizing core values such as honesty (shiddiq), justice (‘adl), and accountability (amanah) in financial transactions. These principles not only prohibit illicit enrichment but also promote a transparent and fair economic system. Furthermore, the Islamic concepts of ta’zir and hisbah provide ethical sanctions that can support existing regulations. This integration of legal and spiritual frameworks presents a viable strategy for fostering a morally sound and legally robust financial system, aligned with the Islamic objective of maslahah (public welfare). Keywords : Money Laundering, Ethics,Islam, Regulasi

This paper aims to examine the application of maqashid sharia in the field of muamalah jurisprudence, emphasizing the importance of the objectives of sharia in providing normative guidance that can be used to assess and formulate muamalah laws in order to achieve the welfare of the community. This research employs a qualitative analysis method with a literature review approach involving various relevant literary references. The findings reveal that the application of maqashid sharia not only serves to protect property (hifz al-mal) but also to promote social values such as justice, welfare, and the protection of individual rights. Furthermore, this research identifies that the implementation of maqashid sharia in a modern context can enhance public trust in the sharia financial system, as well as provide solutions to issues encountered in current muamalah practices. Keywords : Economic, Fiqh muamalah, Maqashid sharia, Sharia financial system, Social values

This study analyzes the concept of profit margin determination in murabahah contracts from the perspective of fiqh muamalah. Murabahah, as a widely used financing instrument in Islamic financial institutions, often encounters controversy due to the practice of setting margins based on conventional interest benchmarks such as the BI Rate. This raises concerns about its compliance with sharia principles. Using a qualitative approach through literature review, the study examines classical and contemporary fiqh views, regulatory fatwas, and empirical findings on margin determination practices. The results show that while murabahah is legally valid under Islamic law, the current implementation in many institutions deviates from its original intent, particularly regarding transparency, fairness, and independence from riba-based benchmarks. The study recommends a cost-plus pricing model that incorporates real operational costs, transaction risk, and maqashid al-shari’ah considerations. It also emphasizes the need to enhance the role of Sharia Supervisory Boards and issue regulatory guidelines to ensure margin setting aligns with Islamic ethical standards. This research contributes to the discourse on aligning modern Islamic financial practices with the foundational values of justice, transparency, and public interest in Islamic economics.Keywords: fiqh muamalah, Islamic finance, margin, murabahah, sharia compliance

This article discusses the ethics of collecting data on Muslim consumers in the digital era with reference to the principles of maqashid sharia, specifically hifz al-mal and maslahah 'ammah. The development of digital technology has changed the way consumers and businesses interact, but data collection practices often lack transparency and risk abuse. In this context, personal data protection is crucial to safeguard individual rights and prevent harm. This research aims to provide an ethical perspective rooted in Islamic values on data management, as well as recommend measures to improve consumer data protection.Keywords : Ethics, Data Collection, Muslim Consumer, Hifz al-Mal, Maslahah 'Ammah

The digital trade sector has grown rapidly as a result of advancements in IT, including the e-commerce drop-shipping approach. Drop-shipping is a business practice in which a company sells products without keeping stock; instead, they order the product from a third party after receiving a customer order. This study analyzes Islamic law for dropshipping e- commerce in Indonesia, although this method is becoming increasingly popular due to its ease and success. There are many questions about its legitimacy according to Islamic law, especially concerning the principles of honesty, ownership of goods, and the prohibition of gharar. A normative approach was used to conduct this study. It included qualitative analysis of literature related to fiqh muamalah, fatwas of scholars, and regulations.Keywords : Dropshipping, E-commerce, Fiqh Muamalah, Gharar, Islamic Law

This research seeks to explore the significance and impact of fiqh muamalah as the foundation of Islamic business ethics in addressing the challenges of the modern economy. In the dynamic world of business, principles such as honesty, justice, and social responsibility are essential for building an ethical and sustainable economic system. The research method used is a literature review with a descriptive approach, analyzing both classical and contemporary sources related to fiqh muamalah. This study highlights how Islamic values can be applied in the context of digital economics, e-commerce, fintech, and corporate social responsibility. The findings indicate that fiqh muamalah remains relevant and can serve as an ethical foundation for modern business practices. Sharia principles offer moral guidance for entrepreneurs in balancing material and spiritual aspects. Keywords : fiqh muamalah, islamic business ethics, modern economics

This research examines the relationship between stock returns and the financial performance of State-Owned Enterprises (BUMN) listed on the Indonesia Stock Exchange (IDX) before, during, and after the Covid-19 epidemic (2018–2019, 2020–2021, and 2022–2023). Financial performance indicators are the return on invested capital (ROIC), earnings per share (EPS), working capital turnover, total asset turnover, cash ratio, debt-to-equity Ratio, debt-to-asset Ratio, Current Ratio, and cash ratio. The study's primary sources are BUMN's annual financial reports and stock price data. A multiple linear regression model examined the connection between stock returns and financial performance. According to the findings, the variables influencing stock returns varied throughout time. Before the pandemic, cash ratio and earnings per share (EPS) significantly enhanced stock returns, reflecting investor attention to liquidity and profitability during economic stability. During the pandemic, total asset turnover emerged as the key variable impacting stock returns, emphasizing the necessity for efficient asset management amidst economic uncertainty. After the pandemic, earnings per share (EPS) and return on invested capital (ROIC) became the most influential factors, indicating investors' focus on profitability and the ability to generate investment returns. The study concludes that the COVID-19 epidemic has significantly impacted the correlation between stock returns and financial performance. These results provide corporate management and investors with important information for creating flexible financial plans that adjust to shifting market conditions.

Penelitian ini bertujuan untuk menganalisis pengaruh angka kemiskinan terhadap indikator pendidikan di Kota Semarang selama kurun waktu 2020–2024. Kemiskinan dan pendidikan merupakan dua masalah sosial yang saling terkait erat dan menjadi tantangan besar di wilayah perkotaan, terutama pascapandemi COVID-19. Penelitian ini menggunakan metode deskriptif kuantitatif dengan menggunakan data sekunder dari Badan Pusat Statistik (BPS) dan Dinas Pendidikan Kota Semarang. Variabel yang dianalisis meliputi angka kemiskinan sebagai variabel bebas, dan angka partisipasi sekolah, rata-rata lama sekolah, dan angka putus sekolah sebagai variabel keterikatan. Analisis data dilakukan dengan menggunakan regresi linier sederhana untuk menguji pengaruh kemiskinan terhadap pencapaian pendidikan. Hasil penelitian menunjukkan bahwa angka kemiskinan berpengaruh signifikan terhadap indikator pendidikan di Kota Semarang. Penurunan angka kemiskinan cenderung terjadi dengan peningkatan angka partisipasi sekolah dan rata-rata lama sekolah, serta penurunan angka putus sekolah. Temuan ini menekankan pentingnya intervensi kebijakan terpadu yang membahas penanggulangan kemiskinan dan peningkatan akses dan kualitas pendidikan untuk memutus siklus kemiskinan antargenerasi di Kota Semarang.
 
Kata Kunci:  kemiskinan, pendidikan, regresi linier sederhana, angka partisipasi sekolah, rata-rata tahun sekolah, sekolah di Kota Semarang, Kota Semarang