Uncovering Maqoshid Sharia: Safeguarding Ethics in Islamic Economics
Click to verify publication status
Authors
-
Lamin Kaira
1School of social sciences,Njala university Sierra Leone, 48E Adolphus Street Kissy Freetown, Sierra Leone
-
Gehad Mohammed Sultan Saif
2Master in Accounting, University of Aden, Faculty of Administrative Sciences, Aden,Yemen.
-
Nurlita Arum
Faculty of Economy and Business, Universitas Muhammadiyah Surakarta, Surakarta, Indonesia
-
Lulu Hardina
Faculty of Economy and Business, Universitas Muhammadiyah Surakarta, Surakarta, Indonesia
-
Arif Nur Rahman
Faculty of Economy and Business, Universitas Muhammadiyah Surakarta, Surakarta, Indonesia
-
Aditya Danang Saputra
Faculty of Economy and Business, Universitas Muhammadiyah Surakarta, Surakarta, Indonesia
DOI:
https://doi.org/10.5281/zenodo.11525329
Keywords:
Maqashid Sharia, Islamic Economics & Finance, Higher Objectives, BibliometricAbstract
This study investigates the relationship between maqoshid sharia and economic practices in Indonesia, aiming to provide insights into how Islamic principles can contribute to sustainable and inclusive economic development. Utilizing a qualitative research methodology grounded in post-positivism, the study examines 89 publications from 2019 to 2023, employing descriptive statistics and an inductive approach to ensure nuanced interpretations. The research highlights the role of maqoshid sharia in adapting Islamic law to contemporary social dynamics, promoting human welfare, and guiding sharia application in economic practices. It categorizes maqoshid sharia into Dharuriyat (necessities), Hajiyat (needs), and Tahsiniyat (enhancements), emphasizing their importance in achieving socio-economic justice. Key contributions in the field include studies on corporate social responsibility, Islamic banking performance, and the foundations of Islamic finance. A bibliometric analysis with VOSViewer maps the development of maqoshid sharia research, identifying major clusters and collaboration patterns among authors. Overall, this study underscores the critical role of maqoshid sharia in shaping ethical economic practices in Indonesia, offering a comprehensive understanding of the interplay between religion, ethics, and economics in a multicultural context, with significant implications for public policy and economic strategies.
Downloads
References
Aam Slamet Rusydiana, and Mohammad Mahbubi Ali. 2022. “The Application of Maqasid Shariah on Banking Industry.” Maqasid Al-Shariah Review 1(1). doi: 10.58968/msr.v1i1.261.
Abasimel, Nasir Ababulgu. 2023. “Islamic Banking and Economics: Concepts and Instruments, Features, Advantages, Differences from Conventional Banks, and Contributions to Economic Growth.” Journal of the Knowledge Economy 14(2):1923–50. doi: 10.1007/s13132-022-00940-z.
Abu Bakar, Marina, and Ahmad Khilmy Abdul Rahim. 2021. “Maqasid Al-Shariah Theory: A Comparative Analysis Between The Thoughts Of Al-Shatibi And ‘Izz Al-Din Ibn ‘Abd Al-Salam.” International Journal of Academic Research in Business and Social Sciences 11(8):180–93. doi: 10.6007/ijarbss/v11-i8/10683.
Alam, Md. Kausar. 2021. “A Systematic Qualitative Case Study: Questions, Data Collection, NVivo Analysis and Saturation.” Qualitative Research in Organizations and Management: An International Journal 16(1):1–31. doi: 10.1108/QROM-09-2019-1825.
Aldashev, Gani, and Jean-Philippe Platteau. 2014. “Chapter 21 - Religion, Culture, and Development.” Pp. 587–631 in Handbook of the Economics of Art and Culture. Vol. 2, edited by V. A. Ginsburgh and D. B. T.-H. of the E. of A. and C. Throsby. Elsevier.
Aliyu, Sirajo, M. Kabir Hassan, Rosylin Mohd Yusof, and Nasri Naiimi. 2017. “Islamic Banking Sustainability: A Review of Literature and Directions for Future Research.” Emerging Markets Finance and Trade 53(2):440–70. doi: 10.1080/1540496X.2016.1262761.
Alziyadat, Naser, and Habib Ahmed. 2019. “Ethical Decision-Making in Islamic Financial Institutions in Light of Maqasid Al-Sharia: A Conceptual Framework.” Thunderbird International Business Review 61(5):707–18. doi: https://doi.org/10.1002/tie.22025.
Antonio, Mohammad Syafi, and Mohammad Mahbubi Ali. 2021. “THE ROLE OF ZAKAT IN OVERCOMING INFLATION AND UNEMPLOYMENT : REVISITING THE TRADE-OFF THEORY.” Revisiting the Trade-off Theory.
Antonio, Muhammad Syafii, Aam Slamet Rusydiana, and Irman Firmansyah. 2021. “Review on Islamic Social Reporting (ISR) Research.” Library Philosophy and Practice 2021.
Billah, Mohd Ma’Sum. 2021. Teaching and Research Methods for Islamic Economics and Finance. Routledge.
Choudhury, Masudul Alam. 2015. “ Res Extensa et Res Cogitans de Maqasid As-Shari’ah .” International Journal of Law and Management 57(6):662–93. doi: 10.1108/IJLMA-07-2014-0046.
Damayanti, Kiki, and Atiqi Chollisni Nasution. 2019. “ISLAMINOMICS Journal of Islamic Economics, Business and Finance ALMAQASID ASSHARIA AS A BASIC DECISION MAKING ON SELECTING ISLAMIC PROPERTY.” 9:2019.
Dusuki, Asyraf Wajdi, and Nurdianawati Irwani Abdullah. 2007. “Maqasid Al-Shari`ah, Maslahah, and Corporate Social Responsibility.” American Journal of Islam and Society 24(1):25–45. doi: 10.35632/ajis.v24i1.415.
Dwianto, A., D. Puspitasari, A. Q. A’yun, A. I. Sulistyawati, and A. Pugara. 2024. “Sustainability Environmental Performance Future Investment for Company Value.” Journal of Ecohumanism 3(2). doi: 10.33182/joe.v3i2.3193.
Dwianto, Agus. 2024. “DOES ENVIRONMENTAL ACCOUNTING CONTRIBUTE TO INTERNAL FACTORS AND FIRM VALUE?” Journal of Multiparadigm Accounting (JAMAL).
Fanshurna, Toton. 2022. “The Importance of Applying Maqashid Al-Sharia in The Islamic Financial System.” Journal of Islamic Economics Perspectives 4(1):1–8. doi: 10.35719/jiep.v4i1.58.
Firdaus, Achmad. 2021. “Determination of Organisational Essential Needs as the Basis for Developing a Maṣlaḥah-Based Performance Measurement.” ISRA International Journal of Islamic Finance 13(2):229–50. doi: 10.1108/IJIF-11-2017-0041.
Furqani, Hafas. 2015. “Individual and Society in an Islamic Ethical Framework” edited by P. Masudul Alam Choudhury. Humanomics 31(1):74–87. doi: 10.1108/H-04-2014-0037.
Gintzburger, Anne-Sophie. 2012. “An Analysis of Global Trends and Regional Pockets in the Application of Islamic Financial Contracts in Malaysia and the Gulf Cooperation Council.” Pp. 307–39 in Islamic Capital Markets.
Hamid, Asrul, and Dedisyah Putra. 2021. “The Existence of New Direction in Islamic Law Reform Based on The Construction of Ibnu Qayyim Al-Jauziyah’s Thought.” Juris: Jurnal Ilmiah Syariah 20(2):247–57. doi: 10.31958/juris.v20i2.3290.
Hasan, Zubair. 2020. “Leading Issues in Islamic Economics and Finance.” Leading Issues in Islamic Economics and Finance. doi: 10.1007/978-981-15-6515-1.
Hassan, M. Kabir, and Sirajo Aliyu. 2018. “A Contemporary Survey of Islamic Banking Literature.” Journal of Financial Stability 34:12–43. doi: https://doi.org/10.1016/j.jfs.2017.11.006.
Huda, Aulia Nurul. 2012. “The Development of Islamic Financing Scheme for SMEs in a Developing Country: The Indonesian Case.” Procedia - Social and Behavioral Sciences 52:179–86. doi: https://doi.org/10.1016/j.sbspro.2012.09.454.
Ibrahim, Abdul Halim, Noor Naemah Abdul Rahman, Shaikh Mohd Saifuddeen, and Madiha Baharuddin. 2019. “Maqasid Al-Shariah Based Islamic Bioethics: A Comprehensive Approach.” Journal of Bioethical Inquiry 16(3):333–45. doi: 10.1007/s11673-019-09902-8.
Islam, M. Rezaul. 2024. “Reflective Practice and Learning in Fieldwork BT - Fieldwork in Social Work: A Practical Guide.” Pp. 237–50 in, edited by M. R. Islam. Cham: Springer Nature Switzerland.
Islam, Tazul. 2011. “MAQĀṢID ĀL-QUR’AN: A SEARCH FOR A SCHOLARLY DEFINITION.” Al-Bayan: Journal of Qur’an and Hadith Studies 9(1):189–207. doi: https://doi.org/10.1163/22321969-90000026.
Julia, Taslima, and Salina Kassim. 2020. “Exploring Green Banking Performance of Islamic Banks vs Conventional Banks in Bangladesh Based on Maqasid Shariah Framework.” Journal of Islamic Marketing 11(3):729–44. doi: 10.1108/JIMA-10-2017-0105.
Kelley, Todd R., and J. Geoff Knowles. 2016. “A Conceptual Framework for Integrated STEM Education.” International Journal of STEM Education 3(1):11. doi: 10.1186/s40594-016-0046-z.
Mahyudin, Wan A’tirah, and Romzie Rosman. 2022. “Performance of Islamic Banks Based on Maqāṣid Al-Sharīʿah: A Systematic Review of Current Research.” Journal of Islamic Accounting and Business Research 13(4):714–35. doi: 10.1108/JIABR-10-2020-0337.
Mergaliyev, Arman, Mehmet Asutay, Alija Avdukic, and Yusuf Karbhari. 2021. “Higher Ethical Objective (Maqasid Al-Shari’ah) Augmented Framework for Islamic Banks: Assessing Ethical Performance and Exploring Its Determinants.” Journal of Business Ethics 170(4):797–834. doi: 10.1007/s10551-019-04331-4.
Mursyid, Mursyid, Hadri Kusuma, Achmad Tohirin, and Jaka Sriyana. 2021. “Performance Analysis of Islamic Banks in Indonesia: The Maqashid Shariah Approach.” Journal of Asian Finance, Economics and Business 8(3):307–18. doi: 10.13106/jafeb.2021.vol8.no3.0307.
Muzammil, Achmad. 2021. “Islamic Studies Journal for Social Transformation.” Islamic Studies Journal for Social Transformation 5(2):123–32.
Okumuş, H. Şaduman. 2024. “Performance Assessment of Participation Banks Based on Maqasid Al-Shari’ah Framework: Evidence from Türkiye.” Borsa Istanbul Review. doi: https://doi.org/10.1016/j.bir.2024.04.011.
Pepinsky, Thomas B. 2013. “Development, Social Change, and Islamic Finance in Contemporary Indonesia.” World Development 41:157–67. doi: https://doi.org/10.1016/j.worlddev.2012.06.007.
Prasojo, Prasojo, Winwin Yadiati, Tettet Fitrijanti, and Memed Sueb. 2022. “Cross-Region Comparison Intellectual Capital and Its Impact on Islamic Banks Performance.” Economies 10(3):1–15. doi: 10.3390/economies10030061.
Rahman, Faried Kurnia. 2017. “Maqashid Al-Shari’ah-Based Performance Measurement for the Halal Industry.” Humanomics.
Razak. 2018. “THE CORPORATE GOVERNANCE OF MULTIPLE SHARIA ’ BOARD DIRECTORSHIP PRACTICE UNDER THE CENTRALISED APPROACH : A CASE STUDY OF QISMUT + 3 SOUTH EAST ASIA DIVISIONAL MEMBERS OF MALAYSIA AND INDONESIA BY ABD HAKIM ABD RAZAK Thesis Submitted in Fulfilment of The.” Thesis 1(Thesis Submitted in Fulfilment of the Requirements for the Degree of Doctor of Philosophy at Trinity College Dublin):1–422.
Rusydiana, Aam S., and Irman Firmansyah. 2018. “Efficiency versus Maqashid Sharia Index: An Application on Indonesian Islamic Bank.” Shirkah: Journal of Economics and Business 2(2). doi: 10.22515/shirkah.v2i2.154.
Saeed, Abdullah. 1999. “Towards Religious Tolerance through Reform in Islamic Education: The Case of the State Institute of Islamic Studies of Indonesia.” Indonesia and the Malay World 27(79):177–91. doi: 10.1080/13639819908729941.
Saoqi, Abdul Aziz Yahya. 2017. “Analyzing the Performance of Islamic Banking in Indonesia and Malaysia: Maqasid Index Approach.” Jurnal Ekonomi Islam 8(1):29–50.
Shalakany, Amr. 2008. “Islamic Legal Histories.” Berkeley Journal of Middle Eastern & Islamic Law 1:1–82. doi: 10.15779/Z38CC7W.
Shinkafi, Akilu Aliyu, and Nor Aini Ali. 2017. “Contemporary Islamic Economic Studies on Maqasid Shari’ah: A Systematic Literature Review.” Humanomics 33(3):315–34. doi: 10.1108/H-03-2017-0041.
Sugiyono, Agus. 2008. “Teknologi Daur Kombinasi Gasifikasi Batubara Terintegrasi 1 Oleh.” 1–9.
Supriani, Indri, Muthi Adilah Bahril, Laila Masruro Pimada, Haura Hazimah Melzatia, and Sri Herianingrum. 2024. “Twenty Years of Islamic Banking Literature by Indonesian Researchers: A Hybrid Reviews.” Jurnal Ekonomi & Keuangan Islam 10(1):131–48. doi: 10.20885/jeki.vol10.iss1.art10.
Tabrani, Mukti. 2018. “Maqâshid Revitalization in Global Era: Istidlâl Study from Text to Context.” AL-IHKAM: Jurnal Hukum & Pranata Sosial 13(2):310. doi: 10.19105/al-ihkam.v13i2.1814.
Taufik, Muhammad, Rifqi Muhammad, and Peni Nugraheni. 2023. “Determinants and Consequences of Maqashid Sharia Performance: Evidence from Islamic Banks in Indonesia and Malaysia.” Journal of Islamic Accounting and Business Research (March). doi: 10.1108/JIABR-07-2021-0205.
Ureta, Ivan. 2020. “Ethics in Islamic Finance BT - Handbook on Ethics in Finance.” Pp. 1–16 in, edited by L. San-Jose, J. L. Retolaza, and L. van Liedekerke. Cham: Springer International Publishing.
Wilkinson, Angela, Roland Kupers, and Diana Mangalagiu. 2013. “How Plausibility-Based Scenario Practices Are Grappling with Complexity to Appreciate and Address 21st Century Challenges.” Technological Forecasting and Social Change 80(4):699–710. doi: https://doi.org/10.1016/j.techfore.2012.10.031.
Downloads
Published
Issue
Section
License
Copyright (c) 2024 Lamin Kaira, Gehad Mohammed Sultan Saif, Nurlita Arum, Lulu Hardina, Arif Nur Rahman, Aditya Danang Saputra (Author)
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Journal International Economic Sharia (JIES) © 2024 by Inovasi Analisis Data is licensed under CC BY-SA 4.0
How to Cite
