Invest Journal of Sharia & Economic Law

Diagnosing Qur’ānic Precepts on Wealth Creation in Digital Age

2024-04-24T17:09:46+07:00

This study examines how Islamic economic principles can provide guidance for ethical wealth creation, protection, and distribution in the rapidly evolving digital economy, particularly in the face of cybercrime and financial scams. The research investigates the adaptability of Islamic teachings to digital economic activities, emphasizing the importance of lawful enterprise and social responsibility. The study employs qualitative analysis of Qur'anic precepts, Hadiths, and contemporary Islamic scholarship. The findings reveal that Islamic wealth management principles are not only compatible with but also vital for navigating the complexities of the digital age. These principles advocate for ethical earning, robust protection of wealth through cybersecurity measures, and the socially responsible distribution of wealth. The study emphasizes the necessity for precise legal frameworks that align with Islamic ethical standards in digital commerce, alongside a strong emphasis on education regarding digital economic activities within an Islamic framework. Engaging in the digital economy under Islamic guidelines is feasible and advantageous, highlighting the critical role of international cooperation among Muslim countries to combat cybercrime and ensure a secure, equitable digital economic environment. This approach fosters economic resilience and social welfare in accordance with Islamic values.

Corruption In Morocco-A Sectorial Analysis

2024-04-24T17:09:39+07:00

Corruption, a pervasive socio-economic problem, has a significant impact on Morocco, reflecting a global challenge that undermines trust in public institutions and hinders development. This phenomenon, often defined as the abuse of public power for private gain, results in widespread citizen distrust of their government and public institutions. Recognizing the critical need to address this issue, Morocco has implemented various strategies and reforms at the institutional and civil society levels to combat corruption. Our study aims to provide a sectoral analysis of corruption in Morocco, assessing the prevalence of corrupt practices and the effectiveness of anti-corruption measures put in place. Using a descriptive methodology, our research relies on secondary data from various databases, including Transparency International's Corruption Perceptions Index (CPI) from 2004 to 2023. This index provides a longitudinal perspective on how perceptions of corruption have evolved in Morocco over the years and serves as a key indicator of the effectiveness of anti-corruption efforts. Our findings indicate that despite these efforts, corruption remains entrenched in several sectors, suggesting that the strategies adopted have not yet succeeded in significantly changing the corruption landscape. This analysis underscores the complexity of fighting corruption in Morocco and highlights the need for continued efforts and innovative strategies to effectively address this endemic problem.

Financial Inclusion in Muslim-Majority Countries: Overcoming Economic and Social Challenges Through Islamic Lending

2024-04-24T17:19:48+07:00

This study explores the impact of Islamic loans on promoting financial inclusion and addressing socio-economic issues in Muslim-majority countries. It compares Islamic loans with other financial instruments to demonstrate their contribution to creating an inclusive financial system.The research analyzes the challenges associated with using Islamic loans to enhance financial inclusiveness and mitigate economic and social challenges. The research explores the unique characteristics of Islamic loans and their impact on financial accessibility, savings, credit availability, and comprehensive banking services through a comparative descriptive methodology, including a literature review and data analysis. The study's findings reveal that Islamic finance presents opportunities for financial inclusion. However, there are several obstacles that need to be addressed, including regulatory and legal frameworks, scalability issues, global integration, public awareness, and technical accessibility. To promote the adoption of Islamic finance and advance financial inclusion, collaboration among regulatory bodies, financial institutions, legislators, and the public is crucial. Further research and the development of effective strategies are necessary to promote financial inclusion in the Islamic economy.

Obstacles to sustainable development in the Islamic world

2024-05-30T20:47:18+07:00

This study examines obstacles to sustainable development in the Islamic world through the lens of Islamic teachings and principles. Utilizing a qualitative research approach, this study selected relevant Islamic teachings on sustainability, cases of sustainable development in Islamic countries, and places facing specific challenges. Primary data were gathered from religious texts, while secondary data were collected from a comprehensive literature review, including the Quran, Hadith, and scholarly articles. The research process involves extensive literature review and data analysis through data reduction to identify key themes, with comparative analysis highlighting the differences and similarities between Islamic and non-Islamic countries' approaches. The key obstacles identified included corruption, social injustice, and wealth inequality. This study advocates for a comprehensive approach guided by scholars, policymakers, and local communities, involving the reinterpretation and implementation of Islamic values in development strategies. Education and awareness campaigns are proposed to empower individuals with the knowledge required to make ethical choices. By integrating scientific advancements with traditional wisdom, this study underscores the need to ensure that progress aligns with Islamic teachings of compassion, justice, and responsible stewardship.

Zakat for Disabilities

2024-05-22T10:07:15+07:00

This study aims to disclose the impact of Islamic law and Indonesian state law on organizing zakat distribution for persons with disabilities. Utilizing a descriptive comparative methodology, this study analyzes how both Islamic law and Indonesian state law influence efforts to provide zakat funds to people with disabilities in Indonesia. We examined scholarly literature, reports, articles on Fiqh Zakat, zakat distribution, the rights of people with disabilities, and regulations to obtain pertinent background knowledge. A comparative analysis assessed the impact of the similarities and differences between these laws on the right to receive zakat. The findings evaluate the contribution of zakat distribution to addressing the needs of people with disabilities from the perspectives of both Islamic law and state law. This study emphasizes the importance of protecting individuals with disabilities in various countries, including those with secular legal frameworks, as a crucial aspect of social policies. It advocates equal access to education, healthcare, and employment opportunities, fostering inclusivity and eliminating discrimination.