Islamic Economics
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The Sources of Income of Prophet Muhammad ﷺ
Prophet Muhammad Shallallahu Alaihi Wa Sallam, despite being a leader and having access to various sources of wealth, lived a life characterized by simplicity and humility. Here is a exploration of the main sources of his wealth. Trade: The Economic Foundation of the Prophet Prophet Muhammad Shallallahu Alaihi Wa Sallam began his career as a merchant at a very young…
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Growth vs. Profit: Which is More Important?
In the world of business, one of the most persistent debates is the balance between growth and profit. Companies often face the dilemma of choosing between rapidly expanding their market share and maximizing their profits. However, this binary thinking is a flawed approach. It is not necessary to sacrifice one for the other. Instead, businesses should aim to achieve healthy…
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IT Project Funding Through Crowdfunding
In this digital era, the information technology (IT) industry is rapidly evolving and becoming one of the most innovative sectors. However, the development of IT projects often faces financial hurdles. One innovative solution that is gaining popularity is crowdfunding. Crowdfunding is a fundraising method involving contributions from many individuals through online platforms. This article will discuss the concept of IT…
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Financial Management during the Caliphate of Umar bin Khattab radhiyallahu anhu
Financial management under the rule of Umar bin Khattab radhiyallahu anhu stands as a significant example of public finance administration focused on justice and social welfare. The policies he implemented not only reflect his economic acumen but also his commitment to Islamic principles of fairness and equitable distribution. Establishment of Baitul Mal: The Financial Foundation One of Umar’s key contributions…
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Murabahah with Wakalah? Is it OK?
Murabahah is one of the most popular financing products in Islamic banking, where the bank buys goods on behalf of the customer and resells them to the customer with an agreed profit margin. Meanwhile, wakalah is a representative contract in which a person or institution appoints another party to perform an action on their behalf. The combination of these two…
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Potential of Crowdfunding for the F&B Industry
The food and beverage (F&B) industry stands as one of the most dynamic sectors in the global economy, driven by rapid innovation, shifting consumer preferences, and the constant demand for new and exciting products. This industry encompasses a wide range of businesses, from small artisanal producers to large multinational corporations. However, one of the common challenges across the spectrum is…
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Financial Management at the Time of Muhammad ﷺ
Financial management during the time of Prophet Muhammad ﷺ was a cornerstone in the establishment and stability of the Islamic society. The Prophet Muhammad ﷺ was not only a spiritual leader but also acted as the head of state, overseeing all aspects of life, including economic and financial affairs. His approach to managing the state’s finances was innovative and grounded…
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How to Create a Good Islamic Financial Product
Islamic finance has become an essential part of the global economy, offering an ethical and Sharia-compliant alternative. Islamic financial products are not only aimed at Muslim consumers but also attract those seeking fairness and transparency in finance. This article will discuss the ways to create a good Islamic financial product that adheres to Sharia principles. Basic Principles of Islamic Finance…
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The Halal Industry and Food Security
As the largest Muslim-majority country in the world, Indonesia has a significant responsibility to ensure that the food needs of its population are adequately met in accordance with Islamic principles. The halal industry is not only a part of the cultural and religious fabric but also a potential economic sector that supports national food security. In the face of increasingly…
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Social Justice in Islamic Social Finance
Introduction Social justice is one of the key principles upheld in Indonesia’s state ideology, as reflected in the fifth principle of Pancasila: “Social Justice for All Indonesian People.” This principle is not only relevant in the context of governance and public policy but also manifests in various aspects of societal life, including Islamic social finance practices. Islam, as a comprehensive…
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