islamic economics
- Islamic Finance
Why Should We Start With Sharia Investing?
The Rise of Sharia Investment in Indonesia Sharia investment has been experiencing a surge in popularity, and Indonesia is no exception. The Sharia capital market, in particular, has witnessed significant growth. Data from the Jakarta Stock Exchange (IDX) reveals a staggering 90.3% increase in the number of Islamic shares, from 237 in 2011 to 451 by October 27, 2020. This…
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The Meaning of Eid al-Fitr in Making Financial Hijrah
The Meaning of Eid Al-Fitr and Its Link to Financial Hijrah Eid al-Fitr is a much-awaited moment for Muslims after the blessed holy month of Ramadan. More than just a celebration, Eid has a deep meaning that is not only limited to spiritual aspects, but also to social aspects, including in terms of finance. For many Muslims, Eid al-Fitr is…
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The Moral, Health, and Social impact of Ramadan Fasting
In the Al-Quran surah Al Baqarah verse 183 states about obligation fasting. يٰٓـاَيُّهَا الَّذِيۡنَ اٰمَنُوۡا كُتِبَ عَلَيۡکُمُ الصِّيَامُ کَمَا كُتِبَ عَلَى الَّذِيۡنَ مِنۡ قَبۡلِکُمۡ لَعَلَّكُمۡ تَتَّقُوۡنَۙ ١٨٣ “O people who believe! It is obligatory upon you to quickly as it was obligatory upon those before you so that you may be righteous,” The objective of fasting is mandatory For…
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The Eight Categories of Asnaf: Who Qualifies for Zakat Distribution?
Zakat, one of the five pillars of Islam, is a mandatory charitable contribution that purifies wealth and benefits those in need. In the Quran, Allah said: “Zakāh expenditures are only for the poor and for the needy and for those employed for it1 and for bringing hearts together [for Islām] and for freeing captives [or slaves] and for those in debt…
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Tips for Maintaining The Spirit of Ramadan While Travelling
1. Guidelines for Worshipping While Travelling: Is it Better to Fast or Break the Fast While Travelling? When travelling, there is a consideration between fasting or breaking the fast. Some scholars are of the opinion that if the journey is not too tiring and does not interfere with worship, then it is better to keep fasting. However, if the journey…
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The Urgency of Maintaining the Spirit of Worship Until the End of Ramadan
Ramadan is a month full of blessings and forgiveness. In this month, Muslims fast, recite the Quran, strengthen friendship, and increase other good deeds. However, sometimes the spirit of worship in the middle or end of Ramadan often decreases. This article will discuss the importance of maintaining the spirit of worship until the end of Ramadan and how to do…
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Nuzulul Quran: Important Lessons from the First Revelation of the Quran in Ramadan
Nuzulul Quran, the event marking the descent of the first revelation upon Prophet Muhammad (PBUH), signifies the beginning of the Islamic message. This momentous occasion is immortalized within the Quran itself, in Surah Al-Baqarah verse 185: (The month of) Ramadan is the [one] in which the Quran was sent down as a guidance for the people and clear proofs of…
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Practical Guide to Zakat Fitrah
Zakat fitrah is one of the obligations for Muslims that must be carried out before the Eid al-Fitr holiday. Zakat-ul-Fitr plays an important role in cleansing the wealth and soul as well as helping those in need of food on Eid. In this guide, we will discuss the details of Zakat Fitrah, including the evidence from the Quran and Hadith…
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Understanding the Different Types and Restrictions of Waqf Property
Classifying Waqf Property While the Prophet Muhammad (PBUH) did not establish a formal classification system for waqf during his lifetime. However, the various schools of fiqh classified it later differently. This article will explore two main categories: beneficiaries (al-mawquf ‘alaihim) and the endowed property itself (al-mauquf). By Beneficiaries (al-Mawquf ‘Alaihim) Under this category, waqf can be divided into three types:…
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Creating a Waqf: Essential Conditions You Need to Know
In Arabic, the terms ‘waqf’ (plural ‘awqaf’) and ‘habs’ (plural ‘ahbas’) are verbal nouns and infinitives. Both words signify ‘to stop, to prevent, to restrain,’ a concept known as ‘al-habs wa al-man.’ However, while the English translation of ‘waqf’ is often understood as a religious endowment, it may not fully capture the depth of devotion and grace associated with the…
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