Milkiyah: Jurnal Hukum Ekonomi Syariah https://jurnal.stainmajene.ac.id/index.php/milkiyah <p><strong>Milkiyah</strong> is a journal published in February and August with six articles per issue presenting research articles and conceptual papers. Subject areas suitable for publication are Islamic Law for Economics and Business, Islamic Economics and Business, Islamic philanthropy, waqf, microfinancing, zakat, and Islamic jurisprudence, contracts, arbitration, and product innovation.<!--/data/user/0/com.samsung.android.app.notes/files/clipdata/clipdata_bodytext_230720_075843_849.sdocx--></p> <p>Our journal is published by Sekolah Tinggi Agama Islam Negeri Majene under the Study Program of Sharia Economic Law in <a href="https://jurnal.stainmajene.ac.id/index.php/milkiyah/COLLABORATION">collaboration </a>with the Association of Study Programmes and Lecturers of Indonesian Sharia Economic Law referred to as <a href="https://drive.google.com/file/d/1N4C-t0zZFmpIcesuntWZo1fZ5MWjBKTX/view?usp=sharing">POSDHESI</a> and the Professional Organization of Islamic Business and Economics known as <a href="https://drive.google.com/file/d/1dvjz5IfT_M121AXTwASITV56XbnI_1jw/view">FORDEBI.</a></p> <p>In this year, 2025, Milkiyah is focusing on enhancing its quality and implementing strategies to improve its ranking and visibility. As part of this initiative, the journal is preparing for submission to SCOPUS database. We invite you to contribute by submitting your <strong>high-quality manuscripts</strong> and joining us on this journey of academic growth.</p> <p><strong>CALL FOR PAPER Vol. 5 No. 1 (2026)</strong></p> <p>If you have unpublished papers in hand and have the idea of making our journal a vehicle for your research interests, please feel free to submit your manuscripts to this journal through our journal management system at <a href="https://jurnal.stainmajene.ac.id/index.php/milkiyah/about/submissions">Submissions</a> or email to milkiyah.jurnalhes@stainmajene.ac.id if you need any assistance.<!--/data/user/0/com.samsung.android.app.notes/files/clipdata/clipdata_bodytext_230121_144600_424.sdocx--></p> Sekolah Tinggi Agama islam Negeri Majene en-US Milkiyah: Jurnal Hukum Ekonomi Syariah 2962-7613 The Contribution of Islamic Financial Instruments to Maritime Development: Evaluation and Policy Recommendation for Maluku Regions https://jurnal.stainmajene.ac.id/index.php/milkiyah/article/view/1454 <p>Maritime development in the Indonesian archipelago faces structural challenges, particularly in obtaining inclusive, sustainable, and locally suitable funding in Maluku. To address these issues, Islamic financing system is considered as a potential alternative to conventional system, using instruments based on <em>Maqasid al-sharia</em> principles. This study aims to evaluate five Islamic financial instruments focusing on productive <em>Waqf</em>, <em>Mudarabah</em>, <em>Ijarah</em>, <em>Musyarakah</em>, and <em>Sukuk,</em> in supporting the development of maritime regions in Maluku. We used MCDA with AHP and TOPSIS methods to evaluate these instruments. The evaluation criteria were economic feasibility, Sharia compliance, risk management, social support, and environmental impact. The results rank instruments, with productive <em>Waqf</em> being the most effective, followed by <em>Mudarabah</em>, <em>Ijarah</em>, and then <em>Musyarakah</em> and <em>Sukuk</em> being less suitable. The study reveals that productive <em>Waqf</em> is at the top due to its non-commercial nature, community participation, and reaching marginalised groups. <em>Mudarabah</em> is considered good for micro and small businesses with profit-sharing. <em>Ijarah</em> is for financing assets without ownership transfer. <em>Musyarakah</em> and <em>Sukuk</em> are less flexible for coastal communities. The findings of this study highlight that Islamic financing systems have an essential role in guiding decision-making in the maritime development.</p> Mar'atun Shalihah Deny Yarusain Amin Afdhal Yaman Dadang Husen Sobana Abdul Rilan Syarif Copyright (c) 2025 Milkiyah: Jurnal Hukum Ekonomi Syariah https://creativecommons.org/licenses/by-nc/4.0 2024-02-28 2024-02-28 4 1 1 14 10.46870/milkiyah.v4i1.1454 Bridging Regulatory Diversity: Halal Certification Frameworks in Indonesia, Malaysia, and Singapore and the Road to ASEAN Harmonisation https://jurnal.stainmajene.ac.id/index.php/milkiyah/article/view/1463 <p>With the growing significance of halal product assurance in ASEAN, the demand for regulatory harmonisation is alarming with the phenomenon of globalization. This study attempts to analyse and compare the regulatory frameworks of halal product assurance from countries in ASEAN to find similarities and differences and aspects that require development. In this study, a comparative method was used to compare the legal and policies of the halal product assurance in Indonesia, Malaysia and Singapore. This study demonstrates that mandatory certification under Indonesian JPH law does ensure comprehensive regulation but impedes several industry sizes as well as intricacies during implementation. In Malaysia, JAKIM has established a known voluntary scheme all over the globe. Its governance system is excellent and has enabled Malaysia to lead the halal market globally. On the other hand, Singapore's model is highly regulated and overseen by MUIS. It serves the global economy while ensuring strict halal standards. The differences in regulations should be harmonised as they could otherwise translate into trade barriers besides affecting consumer confidence. A more integrated, competitive, and visible halal industry in the ASEAN global market can be achieved by harmonising such differences through policy alignments, coordination among agencies, and technological utilisation</p> Didih Muhamad Sudi Copyright (c) 2025 Milkiyah: Jurnal Hukum Ekonomi Syariah https://creativecommons.org/licenses/by-nc/4.0 2024-02-28 2024-02-28 4 1 15 27 10.46870/milkiyah.v4i1.1463 Corporate Governance and Sustainability in Islamic Banking: The Mediating Role of Green Banking Practices https://jurnal.stainmajene.ac.id/index.php/milkiyah/article/view/1468 <p>The banking sector plays a strategic role in advancing sustainable business practices through green banking initiatives, which reduce environmental risks and enhance banks’ reputations amid growing global concerns about climate change. This study examines corporate governance and sustainability performance in Islamic banks, with green banking as a mediator. The data were collected from 158 middle and upper management employees in Islamic banking institutions in South Sumatra, Indonesia. This study used mediation path analysis to assess the effect of corporate governance on sustainability performance directly and through green banking practices indirectly. The results confirm a positive relationship between corporate governance framework and sustainability performance in Islamic banks, suggesting that strengthening governance structures directly improves sustainability outcomes. Moreover, green banking practices partially mediate the nexus between corporate governance and sustainability performance, indicating that corporate governance indirectly improves sustainability performance by promoting green banking initiatives. These findings show the necessity of aligning corporate governance frameworks with green banking initiatives to achieve long-term sustainability goals in Islamic banking.</p> Mister Candera Muhammad Ridhwan Efrina Masdaini Aditya Teguh Mahendra Rico Apriandika Copyright (c) 2025 Milkiyah: Jurnal Hukum Ekonomi Syariah https://creativecommons.org/licenses/by-nc/4.0 2024-02-28 2024-02-28 4 1 28 42 10.46870/milkiyah.v4i1.1468 Yelim Philanthropy: Exploring Social Cohesion and Alignment with Sharia Economic Law in Kei Society https://jurnal.stainmajene.ac.id/index.php/milkiyah/article/view/1470 <p>The practice of Yelim as a form of interfaith philanthropy has yet to be scrutinised in the intersecting fields of legal sociology and Islamic economic law. The purpose of this study is to reveal the practice of Yelim in encouraging legal consciousness and social cohesion in the Kei Community and to show the harmony of its practice under the principles of Sharia economic law. This study is qualitative research under the phenomenological approach to deeply interpret the practice of Yelim with a focus on the philanthropy, and fund management. Data were obtained through interviews, observation and documentation. The results disclose that Yelim is undertaken accountably by traditional figures and community members. The funds have been used for social purposes, including weddings, funerals, religious buildings, and education support. The philanthropy of both Muslims and Christians in the collection and utilisation exemplifies social solidarity and the principle of distributive justice. According to Islamic economic law, the philanthropy management has been in line with <em>maqāṣid al-sharī'a</em> in the principles of Hifzh al-Nafs and <em>Hifzh al-Māl</em> linking to <em>maslahah</em>, trust, humanity and justice. The tradition undertaken has shown the legal awareness rooted in social norms and ancestral values, not merely formal legal texts. Yelim serves as a model for integrating customary law and Sharia economic principles in multicultural communities.</p> Syah Awaluddin Eka Dahlan Uar Soeleman Djaiz Baranyanan Nurhayati Mohamad Fairuz Bin Ali Copyright (c) 2025 Milkiyah: Jurnal Hukum Ekonomi Syariah https://creativecommons.org/licenses/by-nc/4.0 2024-02-28 2024-02-28 4 1 43 54 10.46870/milkiyah.v4i1.1470