Muhammad Sholihin, Nurus Shalihin and Apria Putra
The article examines Sheikh Ahmad Khatib Al-Minangkabauwi's initial concept of paper money, which in the early 20th century wrote Risala Raf'u Al-Iltibas.
Abstract
Purpose
The article examines Sheikh Ahmad Khatib Al-Minangkabauwi's initial concept of paper money, which in the early 20th century wrote Risala Raf'u Al-Iltibas.
Design/methodology/approach
This paper uses a qualitative approach based on the critical extraction analysis that can reveal a set of concepts related to the thoughts of Sheikh Ahmad Khatib Al-Minangkabauwi on paper money.
Findings
Through an attentive reading of Sheikh Ahmad Khatib Al-Minangkabawi, the authors can formulate several significant results: First, Ahmad Khatib Al-Minangkabawi applies two methods in studying critically on paper money, namely, the comparative law method and qiyas. Second, Ahmad Khatib believes that paper money has similarities with dinars and dirhams, namely its nominal value function. It is just that the existence of these values is different. Briefly, there are set law consequences for those who used paper money in economic activities, i.e. payment of zakāt on paper money applies when used as business capital.
Research limitations/implications
Sheikh Ahmad Khatib Al-Minangkabawi's work related to paper money is written heavily from the perspective of fiqh. Briefly, it is challenging to describe legal reasoning from work. As a result, articles are also thicker with fiqh analysis.
Practical implications
Sheikh Ahmad Khatib Al-Minangkabawi's view regarding paper money becomes the foundation for the theory of the value of money in Islam. However, it is rarely disclosed. In this regard, this paper can serve as the foundation of the value for money offered by scholars from Indonesia in the early 20th century.
Social implications
Money is not a commodity. Still, it must be positioned as capital to be productive. It finally becomes why trade is compelling and becomes the most practical reason for paying out zakāt.
Originality/value
It is not easy finding out articles that attempt to reveal the concept of classical ulemas or clerics from Indonesia relating to paper money. This article manages to identify that, and at the same time, becomes a novelty.
Details
Keywords
Muhammad Sholihin, Nurus Shalihin, Mega Ilhamiwati and Hendrianto Hendrianto
This study aims to gain new insight into how a set of maqasid-based consumption intelligence variables mediates exogenous variables (i.e. religiosity, Islamic university role and…
Abstract
Purpose
This study aims to gain new insight into how a set of maqasid-based consumption intelligence variables mediates exogenous variables (i.e. religiosity, Islamic university role and normative belief) and halal purchase intention as an endogenous variable.
Design/methodology/approach
The research model is empirically tested with a data set of 370 responses retrieved from the students of the millennial generation from the cross Islamic state university in Indonesia. Data were analysed with Partial Least Square Structural Equation Modelling (PLS-SEM). The sample size of this study is computed with preliminary power analysis.
Findings
The SEM finding revealed that two maqasid-based consumption intelligence variables had mediated the exogenous and endogenous variables, i.e. halal purchase intention. These variables mediating the exogenous and endogenous variables have explained 63.5 R2 variances in halal purchase intention. Concerning individual impact size of cognition and motivation as a component of maqasid-based consumption intelligence has shown medium-level effect size (f2) in mediating the halal purchase intention. Interestingly, the exogenous variable does not directly affect halal purchase intention but must be mediated with maqasid-based consumption intelligence variables. However, before including variables of maqasid-based consumption intelligence, the R2 was relatively small. It is just 30.4% in R2 that explains the variance of halal purchase intention.
Research limitations/implications
This study explores maqasid-based consumption intelligence as a relatively new model to explain the variable halal purchase intention. Therefore, it takes many types of exogenous variables to test how relevant maqasid-based consumption intelligence variables can define endogenous variables. Notwithstanding, this study does not do that because it only limits three exogenous variables (i.e. religiosity, Islamic university role and normative belief). Therefore, in further research, these limitations seem to be perfected by other scholars concerned about halal purchase intention.
Practical implications
The findings of this study allow Islamic universities to mainstream halal issues as a subject of learning, especially concerning consumption ethics. In addition, the empirical results of this study encourage the industry to pay attention to the essential components in determining the halal quality of the products offered because the millennial generation is now very aware of the importance of halal products.
Originality/value
This study contributes to the existing literature on halal purchase intention by testing maqasid-based consumption intelligence variables as mediators. Moreover, this is a pioneer study to consider and construct maqasid-based consumption intelligence as a model that explains halal purchase intention.