The Application of Sharia Economic Principles in Educational Financial Management: A Review of Applications, Problems, and Solutions
DOI:
https://doi.org/10.38073/nidhomiyyah.v6i2.3586Keywords:
Islamic Economics, Educational Financial Management, Accountability, Transparency, Sharia GovernanceAbstract
Financial management in Islamic educational institutions continues to face challenges related to transparency, accountability, and compliance with Sharia principles. These conditions indicate the need for a more comprehensive approach to implementing values of justice, sustainability, and financial integrity. This study aims to analyze the application of Sharia economic principles in educational financial management and identify practical steps and implementation challenges. The research employs a systematic literature review of studies published between 2020 and 2024 that are relevant to Sharia-based financial management in educational institutions. The findings show that institutions applying Sharia principles tend to demonstrate more structured, transparent, and value-oriented financial systems. The study also reveals that human resource competence, leadership commitment, and external support are key factors influencing the successful implementation of Sharia principles. Additionally, the research identifies a gap between theoretical understanding and practical application, highlighting the need for clearer operational guidelines. The study concludes that an implementable model is essential to bridge Sharia principles with the practical demands of educational financial management. The main contribution lies in providing an applicative framework that can serve as a reference for Islamic educational institutions in strengthening Sharia-based financial governance.
Downloads
References
Agormedah, Edmond Kwesi, Eugene Adu Henaku, Desire Mawuko Komla Ayite, and Enoch Apori Ansah. “Online Learning in Higher Education during COVID-19 Pandemic: A Case of Ghana.” Journal of Educational Technology and Online Learning 3, no. 3 (2020): 183–210. https://doi.org/10.31681/jetol.726441.
Ahmad, Zulfikar Ali, and Rusdianto Rusdianto. “Impact of Transparency and Accountability on Trust and Intention to Donate Cash Waqf in Islamic Microfinance Institutions.” Shirkah: Journal of Economics and Business 5, no. 2 (2020): 197–227. https://doi.org/10.22515/shirkah.v5i2.317.
Akhyar, Yundri. “Public Accountability in Financial Management Practice at Islamic Education Institutions: A Survey Research.” AL-ISHLAH: Jurnal Pendidikan 16, no. 3 (2024): 4127–42.
Alam, Nafis, Lokesh Gupta, and Bala Shanmugam. Islamic Finance. Springer International Publishing, 2017. https://doi.org/10.1007/978-3-319-66559-7.
Ali, Sapri, and Azzafa Nur Jadidah. “Peran Teknologi Dalam Optimalisasi Pengumpulan Dan Distribusi Zakat Dan Wakaf.” El-Faqih: Jurnal Pemikiran Dan Hukum Islam 10, no. 2 (2024): 400–414.
Anas, M., Listiana Sri Mulatsih, and Abdul Kadir Ahmad. “Financial Management Audits for School Quality Improvement in Indonesia: A Comprehensive Literature Review.” Journal of Educational Management and Instruction (JEMIN) 4, no. 1 (2024): 174–84.
Aulia, Rizka Nur, Salsabilah Ilmar Fandini, Rifqiyati Nur Fauzi, and Rizal Maulana. “The Importance of Sharia Business Ethics in Creating a Tolerant and Peaceful Economic Environment.” Al-Kharaj: Journal of Islamic Economic and Business 6, no. 3 (2024).
Bayram, Kamola. “Islamic Finance Education: Theoretical Developments and Practical Challenges تعليم التمويل الإسلامي: التطورات النظرية والتحديات التطبيقية.” Journal of King Abdulaziz University: Islamic Economics 33, no. 2 (2020): 145–55.
Chapra, M. Umer. Islam and the Economic Challenge. International Institute of Islamic Thought (IIIT), 1992. https://books.google.com/books?hl=id&lr=&id=H_s9CgAAQBAJ&oi=fnd&pg=PP1&dq=Chapra,+M.+U.+(1992).+Islam+and+the+Economic+Challenge.+The+Islamic+Foundation.&ots=0tmhTvOlKd&sig=aGxqkdj2i8vPLrQJCgOFoTpJpBA.
Chotimah, Chusnul, Maulina Pia Wulandari, and Zulkarnain Nasution. “Enhancing School Reputation Through Effective Stakeholder Engagement: A Qualitative Analysis at an Integrated Islamic Junior High School in Mojokerto.” SANGKéP: Jurnal Kajian Sosial Keagamaan 7, no. 2 (2024): 290–308. https://doi.org/10.20414/sangkep.v7i2.11166.
Dwangu, Agrippa Madoda, and Vimbi Petrus Mahlangu. “Accountability in the Financial Management Practices of School Principals.” International Journal of Educational Management 35, no. 7 (2021): 1504–24. https://doi.org/10.1108/IJEM-06-2021-0243.
Fadilah, Nurul, Muhammad Yudha Ardiansyah, and Muhammad Firdaus. “Integrasi Prinsip Good Corporate Governance Dalam Meningkatkan Efisiensi Dan Kepercayaan Publik Pada Lembaga Keuangan Syariah Di Indonesia.” Jurnal At-Tamwil: Kajian Ekonomi Syariah 7, no. 1 (2025): 134–49. https://doi.org/10.33367/at-tamwil.v7i1.7124.
Fithrianto, M. Novan, Mufid Andrianata, and Judi Suharsono. “The Effect of Community Participation, Government Policy, and Sharia Financial Education on Sharia Economic Development in West Java.” West Science Social and Humanities Studies 2, no. 07 (2024): 1166–78. https://doi.org/10.58812/wsshs.v2i07.1084.
Izaty, Santi Nailul, Tsania Umairo, Sabita Khadiqoh, Gunawan Aji, and Rizky Andrean. “Financial Management in the Framework of Sharia: Exploring the Basics of Financial Management Based on Islamic Teachings.” JISEF: Journal Of International Sharia Economics And Financial 3, no. 01 (2024): 48–68.
Jaradat, Hana, and Mohammad Salem Oudat. “Enhancing Clarity and Transparency in Islamic Financial Practices: The Role of Regulatory Influence.” Journal of Financial Reporting and Accounting, ahead of print, January 27, 2025. https://doi.org/10.1108/JFRA-07-2024-0479.
Jinan, Muhammad Riyadlul, Muhammad Syapiuddin, and Ulyan Nasri. “Holistic Integration: Syariah Finance Principles in Islamic Education Management.” Jurnal Ilmiah Profesi Pendidikan 9, no. 2 (2024): 1343–50.
Khan, Muhammad Fahim. Essays in Islamic Economics. Islamic Foundation, 1995. https://ixtheo.de/Record/180492969.
Komatsu, Taro. “Respecting Equity, Inclusiveness, and Fairness.” In Education and Social Cohesion in a Post-Conflict and Divided Nation, by Taro Komatsu. Springer Nature Singapore, 2024. https://doi.org/10.1007/978-981-99-6519-9_5.
Liyanage, Champika L., Felix Villalba-Romero, and Andrew Carmichael. “Fairness in Higher Education Research and Innovation Funding in the UK.” Trends in Higher Education 3, no. 4 (2024): 1031–52.
Marcinkowski, Frank, Kimon Kieslich, Christopher Starke, and Marco Lünich. “Implications of AI (Un-)Fairness in Higher Education Admissions: The Effects of Perceived AI (Un-)Fairness on Exit, Voice and Organizational Reputation.” Proceedings of the 2020 Conference on Fairness, Accountability, and Transparency, ACM, January 27, 2020, 122–30. https://doi.org/10.1145/3351095.3372867.
Misino, Eleonora, Roberta Calegari, Michele Lombardi, and Michela Milano. “Ensuring Fairness Stability for Disentangling Social Inequality in Access to Education: The FAiRDAS General Method.” Proceedings of the Thirty-Third International Joint Conference on Artificial Intelligence AI for Good, IJCAI, 2024, 7412–20. https://cris.unibo.it/handle/11585/984254.
Mulkern Terry, Terese. “The Islamic Finance Handbook: A Practitioner’s Guide to the Global Markets: Sasikala Thiagaraja et al., Singapore: Wiley, 2014, 256 Pp., $150.00 (Hardcover), $98.00 (e-Book), $120 (Kindle), ISBN 978-1-118-81441-3.” Journal of Business & Finance Librarianship 21, no. 2 (2016): 184–85. https://doi.org/10.1080/08963568.2016.1169908.
Murdianto, Murdianto. “Implementation of Islamic Education Management to Realize a Superior Education Institution.” At-Tarbawi: Jurnal Pendidikan, Sosial Dan Kebudayaan 11, no. 1 (2024): 134–43.
Mustofa, Ubaedul, Inaya Sari Melati, Arizha Farras Raihan, and Ahmad Bukhori. “Increasing Sharia Financial Literacy Through Sharia Financial Training and Assistance for Teachers.” Indonesian Journal of Devotion and Empowerment 4, no. 2 (2022): 40–44.
Na, C., and Z. XiangQian. “Study on Fair Education, Social Mobility and Long-Term Economic Growth.” Biotechnol. Indian J 10 (2014): 5900–5909.
Najihah, Iffatun, and Suaib H. Muhammad. “Konsep Manajemen Keuangan Dalam Lembaga Pendidikan Islam Perspektif Al Qur’an Dan Hadis.” Idaarah: Jurnal Manajemen Pendidikan 5, no. 2 (2021): 223–39. https://doi.org/10.24252/idaarah.v5i2.21616.
Omer Faruk Tekdogan, Ali Can Yenice, and Huseyin Burgazoglu. “Critical Factors Affecting The Success Of Shari‘Ah Governance: Insights From Islamic Financial Institutions.” Hamdard Islamicus 47, no. 3 (2024). https://doi.org/10.57144/hi.v47i3.905.
Rijal, Fikri. “Manajemen Pengembangan Dan Pengelolaan Keuangan Lembaga Pendidikan Islam Dayah Jami’ah Al-Aziziyah Batee Iliek.” Jurnal Al-Mizan 11, no. 1 (2024): 155–66. https://doi.org/10.54621/jiam.v11i1.918.
Robbani, Azzam. “Effectiveness of The Islamic Development Bank (IDB) in Promoting Development in Muslim Countries.” Afkar Journal: Islamic & Civilisation Studies 1, no. 1 (2024): 12–26.
Sahay, Surabhi, and Christine Goldthwaite. “Participatory Practices During Organizational Change: Rethinking Participation and Resistance.” Management Communication Quarterly 38, no. 2 (2024): 279–306. https://doi.org/10.1177/08933189231187883.
Suaidi, Suaidi. “Bridging Institutional and Regulatory Gaps: Enhancing Sharia Compliance in Islamic Financial Institutions in Indonesia.” El-Uqud: Jurnal Kajian Hukum Ekonomi Syariah 3, no. 1 (2025): 23–39. https://doi.org/10.24090/eluqud.v3i1.13288.
Sulfiani, Sulfiani, Nora Saiva Jannana, and Sedya Sentosa. “Enhancing Islamic Educational Quality through Output-Based Quality Assurance: A Literature Review Perspective.” HEUTAGOGIA: Journal of Islamic Education 3, no. 2 (2023): 155–68.
Suroso, Suroso, Slamet Untung, and Mohamad Muslih. “Manajemen Keuangan Lembaga Pendidikan Islam.” Jurnal Manajemen Pendidikan 9, no. 1 (2024): 1–10. https://doi.org/10.34125/jmp.v9i1.253.
Tasa, M. Ridwan. “Manajemen Keuangan Dan Kualitas Pendidikan Islam: Analisis Pada Lembaga Pendidikan Islam Swasta.” MODELING: Jurnal Program Studi PGMI 9, no. 3 (2022): 814–32. https://doi.org/10.69896/modeling.v9i3.2514.
Taufiq, Muhammad. “Strategic Management of Dormitory Facilities in Islamic Educational Institutions: Enhancing Student Discipline and Academic Achievement.” Nidhomiyyah: Jurnal Manajemen Pendidikan Islam 6, no. 1 (2025): 85–94. https://doi.org/10.38073/nidhomiyyah.v6i1.2281.
Usman, Lalu Hamdi, Syaharuddin Syaharuddin, and Fathul Maujud. “Manajemen Keuangan Berbasis Teknologi Digital Di Lembaga Pendidikan Islam.” Al-Liqo: Jurnal Pendidikan Islam 9, no. 2 (2024): 257–70. https://doi.org/10.46963/alliqo.v9i2.2282.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Ahmad Misbah
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
