Focus and Scope
The Journal of Islamic Economic Laws is intended to be a media for disseminating results of researches and an exchange of Indonesian scientific work among academics, practitioners, regulators, and the public. The Journal of Islamic Economic Laws covers a variety of research approaches, namely quantitative, qualitative and mixed methods. The Journal of Islamic Economic Laws focuses on various themes, topics, and legal aspects in Islamic Laws and Islamic Economics, including the following topics:
Islamic Law Topics :
-Muamalah law
-Sharia banking regulation
-Islamic Marriage law
-Islamic Insurance and reinsurance Law
-Regulation of zakat
-Islamic Law guarantee
-The law of Sharia financial institutions
-Islamic Business law contract
-Islamic Legal endowments
-Islamic Laws of electronic transactions
Islamic Finance Topics :
-Islamic Banking and Finance
-Islamic Small and Medium Enterprises
-Islamic Microfinance
-Islamic Macrofinance
-Islamic Financial Institutions
-Islamic Insurance
-Islamic Philanthropy Organizations
The principles of Islamic economics, also known as Islamic economic law or Islamic finance, have gained significant attention in recent years. Islamic economics is based on the principles and guidelines outlined in the Islamic Shariah, which governs various aspects of economic and financial transactions for Muslims. While research in this field is still evolving, several key areas have emerged as the scope of research and future trends.
Islamic Banking and Finance: Islamic banking and finance have been the primary focus of research in Islamic economics. Researchers explore the principles of interest-free banking, profit-sharing arrangements, and other financial instruments compliant with Islamic Shariah. Future research may delve deeper into risk management, financial stability, and the integration of Islamic finance with conventional systems.
Islamic Capital Markets: The development of Islamic capital markets has gained momentum. Research in this area focuses on the establishment of Shariah-compliant equity markets, sukuk (Islamic bonds), Islamic indices, and asset-backed securities. Future trends might involve exploring the integration of blockchain technology and Islamic finance, as well as the standardization of Islamic financial products.
Social and Economic Justice: Islamic economics emphasizes economic justice, fairness, and equitable distribution of wealth. Researchers investigate strategies to achieve social welfare, poverty alleviation, and income redistribution within an Islamic economic framework. Future research may focus on exploring alternative economic models that prioritize social and economic justice, such as the concept of a welfare-oriented Islamic state.
Islamic Microfinance and Entrepreneurship: Microfinance has gained attention in Islamic economics as a means to alleviate poverty and promote entrepreneurship. Research explores the development of Islamic microfinance institutions, the role of zakat (Islamic alms-giving) in poverty reduction, and the impact of Islamic microfinance on entrepreneurship and economic development.
Islamic Economic Thought: Researchers in Islamic economics also explore the historical development of Islamic economic thought and its relevance in the contemporary world. This includes studying the works of prominent Islamic scholars and economists throughout history and analyzing their contributions to economic theory and policy.
Sustainability and Ethical Investments: Islamic economics places significant emphasis on ethical and socially responsible investments. Future research may focus on exploring the integration of Islamic finance with sustainability principles, green financing, and impact investing, aligning Islamic economics with the growing global interest in sustainable development.
Comparative Studies: Comparative studies between Islamic economics and conventional economics provide valuable insights into the similarities, differences, and potential areas of convergence. Such research sheds light on the strengths and limitations of both systems and can contribute to the development of more inclusive and balanced economic frameworks.
As the field of Islamic economics continues to evolve, researchers are likely to explore innovative applications of Islamic economic principles, address contemporary economic challenges, and further refine the theoretical foundations of Islamic economic thought. The integration of technology, sustainability, and global collaboration are expected to shape the future trends in research on the principles of Islamic economics.
Islamic microeconomic applied law is the application of Islamic principles and values in microeconomic decision-making. It deals with the study of individual economic behavior, small business enterprises, and economic activities in general, in light of Islamic legal principles and values. Islamic microeconomic applied law focuses on creating an economic system that is based on justice, fairness, and equity.
The scope of Islamic microeconomic applied law covers various aspects of microeconomic decision-making. Some of the areas of study within this field include:
Islamic Financial Transactions: This includes the study of the Islamic principles that govern financial transactions, such as riba (usury), gharar (uncertainty), and maysir (gambling). It also involves the study of various Islamic financial instruments, such as mudarabah (profit-sharing), musharakah (partnership), and ijara (leasing).
Islamic Banking and Finance: This area of study focuses on the principles and practices of Islamic banking and finance, which are based on the principles of shariah. It includes the study of various Islamic financial products and services, such as Islamic bonds (sukuk), Islamic mutual funds, and Islamic insurance (takaful).
Entrepreneurship and Small Business: Islamic microeconomic applied law also covers the study of entrepreneurship and small business enterprises from an Islamic perspective. It includes the study of various Islamic business models, such as mudarabah and musharakah, and the principles of ethical and socially responsible business practices.
Poverty Alleviation and Social Justice: Islamic microeconomic applied law also focuses on poverty alleviation and social justice. It includes the study of various Islamic social finance instruments, such as zakat (obligatory charity) and sadaqah (voluntary charity), and their role in promoting social justice and economic development.
Overall, the scope of Islamic microeconomic applied law is wide and covers various areas of microeconomic decision-making. It aims to create an economic system that is based on justice, fairness, and equity, and promotes economic development and social welfare.
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