Rihlah Iqtishad: Jurnal Bisnis dan Keuangan Islam

Theoretical Analysis of the Effectiveness of the Sharia Financial System in Facing the Global Economic Crisis

Trisna Eka Sari — 2024-06-06

This research theoretically examines the effectiveness of the Islamic financial system in dealing with the global economic crisis. This study discusses economic theory, principles, characteristics, influence, comparison, experience, innovation and challenges in the Islamic financial system. Through a qualitative approach by conducting theoretical analysis of literature related to the Islamic financial system and the global economic crisis. The results of this research show that the Islamic financial system has great potential to become an attractive option in facing global economic challenges. By strengthening the foundation of sharia principles, developing appropriate innovations, and overcoming existing challenges, the sharia financial system can continue to develop and make a significant contribution to global financial stability and inclusion. This research confirms that the Islamic financial system, with its basic principles such as the prohibition against usury and excessive speculation, as well as the emphasis on real asset-based transactions, offers a more stable and fair alternative compared to the conventional financial system. The profit sharing principle shows the ability to reduce systemic risk by distributing risk more fairly among the parties involved in financial transactions.

Sharia Economic Transformation in the Era of Industrial Revolution 4.0

Muhammad Irfan Syah — 2024-06-09

. Industrial Revolution 4.0, marked by technological advances such as artificial intelligence (AI), Internet of Things (IoT), big data, and blockchain, has brought significant changes in various economic sectors, including the sharia economy. Sharia economics, which is based on Islamic principles such as justice, transparency and social responsibility, faces great challenges and opportunities in this digital era. The integration of technology in the sharia economy is important to ensure its relevance and sustainability. This research analyzes the impact of the Industrial Revolution 4.0 on the sharia economy, identifies the necessary transformations, and provides strategic recommendations to overcome existing challenges. The method used is qualitative with document analysis from various primary and secondary sources. The discussion includes the adoption of technology such as blockchain to increase transparency, the use of AI and big data for risk analysis, as well as the development of sharia digital financial products and services. The research results show that technology can increase operational efficiency and sharia financial inclusion, but challenges such as rigid regulations and a lack of technological literacy must be addressed. This research provides in-depth insight into the synergy between technology and sharia principles, and paves the way for sustainable and inclusive innovation in the sharia economy.

Understanding and Preferences of Islamic Finance Among Gen Z

Hilya Zulva — 2024-10-09

This study explores the understanding and preferences of Islamic finance among Generation Z by referring to Surah Al-Kahf verse 46. Generation Z, as a growing cohort in the digital era and globalization, has an increasingly important role in global economic development. Qualitative research methods are used to gain in-depth insight into the financial perspectives and beliefs of this generation, while verse 46 of Surah Al-Kahf was chosen as the theological basis for interpreting Islamic financial values. Results showed that, despite exposure to global culture, Generation Z showed significant interest in the concepts and principles of Islamic finance, as described in Surah Al-Kahf verse 46. Their understanding of these values influences their preferences for financial products and services. The implications of these findings for the financial industry and policymakers are presented, highlighting the importance of understanding and accommodating young people's preferences in more inclusive sustainable economic development, in line with the teachings of Surah Al-Kahf verse 46. This research aims to contribute to a better understanding of how Islamic financial values, as stated in the Qur'an, can guide the transformation of the global economy towards greater sustainability and inclusiveness.

Entrepreneurship in Islam (Principles and Strategies for the Success of the Prophet Muhammad SAW in Trading)

Zian Salsabila Bidaula — 2024-10-09

In the Islamic view, entrepreneurship does not only have material capabilities, but a Muslim entrepreneur will use his religion as a guide in his activities, including managing his business to avoid the goal of justifying all means. Therefore, it is necessary to know the principles and strategies of the Prophet Muhammad SAW in trading, where there are several principles that we can emulate from the Prophet Muhammad saw, namely Siddiq, Amanah, Fathanah and Tabligh. This article uses the Pustaka study research method (library research) which is a method of collecting data by understanding and studying theories from various literature related to research, where this research can be obtained from several sources such as books, manuscripts, jurna or from reports on previous research results. In this article we discuss the principles and strategies for the success of the Prophet Muhammad SAW in trading, which in this article discusses the biography of the Prophet Muhammad SAW, the principles and strategies for the success of the Prophet Muhammad SAW in trading.

Islamic Economy to Reduce Poverty in Indonesia According to the Al-Qur’an

M Rafi Mudzakky — 2024-10-09

The poverty economy in Indonesia is a serious problem that requires attention and holistic solutions. This research aims to analyze efforts to overcome poverty by referring to economic principles in the Koran and Hadith. Through this approach, we can understand the Islamic view of social justice and economic distribution which can be the basis for more inclusive policies. This research identifies some of the main economic challenges facing Indonesia and analyzes how Islamic principles can be applied to overcome these problems. Efforts to empower communities through education, skills training and small business formation can be strategies that are in accordance with Islamic values. The results of the analysis show that the implementation of Islamic economic principles can make a significant contribution to reducing poverty levels in Indonesia. Therefore, policy recommendations include establishing regulations that support an equitable economic system, strengthening Islamic financial institutions, and increasing public awareness about socio-economic responsibility. This research contributes to our understanding of the potential for faith-based economic solutions to overcome poverty, and can become the basis for the development of more inclusive and sustainable policies in Indonesia.