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Abstract
Introduction
Digitalization is an inevitable aspect of modern businesses. Without digitalization, businesses face challenges in the current era of Industry 4.0. However, studies regarding digitalization in Islamic or Sharia businesses are still limited.
Objectives
This study intends to discuss digitalization in Islamic business, specifically in the Indonesian context.
Method
The method used in this study is a narrative review that analyzes literature related to Islamic business. A narrative review is used to provide a basic overview of the significance of digitalization in Islamic businesses.
Results
The results show that digitalization can provide many benefits for businesses, including Islamic businesses. Islamic banks are one part of Islamic business, which is the first to digitize. Stakeholder support in Indonesia for the digitalization of Islamic businesses is adequate.
Implications
Islamic businesses should begin digitalizing to maintain sustainability. Islamic business can emulate how Islamic banks have performed digitalization well.
Originality/Novelty
This study is unique in its analysis of the development of digitalization in Islamic businesses. This study is expected to spark further research in the field of Islamic business in Industry 4.0.
Keywords
Article Details
Copyright (c) 2023 Mulyana Fitri , Frida Yanti Sirait, Sugianto Sugianto
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References
Andiko, T. (2018). Signifikansi implementasi konsep ekonomi Islam dalam transaksi bisnis di era modern [The significance of implementing Islamic economic concepts in business transactions in the modern era]. Jurnal Ilmiah Mizani: Wacana Hukum, Ekonomi, Dan Keagamaan, 4(1), 9–22. https://doi.org/10.29300/mzn.v4i1.1004
Ansori, A. (2016). Digitalisasi ekonomi syariah [Digitalization of the sharia economy]. Islamiconomic: Jurnal Ekonomi Islam, 7(1), 1–18. https://doi.org/10.32678/ijei.v7i1.33
Ariska, R., & Aziz, A. (2016). Penimbunan barang perspektif hukum ekonomi Islam [Hoarding of goods from an Islamic economic law perspective]. Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah, 3(2), 94–107. https://doi.org/10.24235/jm.v3i2.456
Azizah, W., & Farid, M. (2021). Manajemen risiko dalam perbankan syariah [Risk management in Islamic banking]. Muhasabatuna : Jurnal Akuntansi Syariah, 3(2), 67–80. https://doi.org/10.54471/muhasabatuna.v3i2.1184
Bank Indonesia. (2014, August 14). Electronification [HTML]. Bank Indonesia. https://www.bi.go.id/en/fungsi-utama/sistem-pembayaran/ritel/elektronifikasi/default.aspx
Bank Indonesia. (2021, July 1). Bank Indonesia Regulation Number 23/6/PBI/2021 on Payment Service Providers. https://www.bi.go.id/en/publikasi/peraturan/Documents/PBI_230621_EN.pdf
Bella, F. I., & Himmawan, M. F. (2021). Digitalization and efficiency: Technology-based service of Indonesia sharia commercial banks. Iqtishadia, 14(2), 280–300. https://doi.org/10.21043/iqtishadia.v14i2.8983
BI Institute. (2022, October 7). Digital financial inclusion driving economic growth by Muhammad Adisurya Pratama [HTML]. BI Institute. https://www.bi.go.id/en/bi-institute/BI-Epsilon/Pages/Inklusi-Keuangan-Digital-Dorong-Pertumbuhan-Ekonomi.aspx
Djakfar, M. (2009). Perusahaan dalam perspektif Islam [Companies from an Islamic perspective]. Iqtishoduna, 4(3), Article 3. https://doi.org/10.18860/iq.v4i3.301
Firdho, M., Suhendra, A. A., & Wulandari, S. (2023). Perancangan strategi digital marketing pada produk Amelia Brownies menggunakan metode SOSTAC [Designing a digital marketing strategy for Amelia Brownies products using the SOSTAC method]. eProceedings of Engineering, 10(3), 2868–2879. https://openlibrarypublications.telkomuniversity.ac.id/index.php/engineering/article/view/20529
Firmansyah, D., & Susetyo, D. P. (2022). Financial behavior in the digital economy era: Financial literacy and digital literacy. Jurnal Ekonomi Dan Bisnis Digital, 1(4), 367–390. https://doi.org/10.55927/ministal.v1i4.2368
Gosal, G. G., & Nainggolan, R. (2023). The influence of digital financial literacy on Indonesian SMEs’ financial behavior and financial well-being. International Journal of Professional Business Review, 8(12), e04164–e04164. https://doi.org/10.26668/businessreview/2023.v8i12.4164
Halim, A. (2022). Perkembangan ekonomi syariah di indonesia [The development of sharia economics in Indonesia]. Investama : Jurnal Ekonomi dan Bisnis, 8(2), 101–120. https://doi.org/10.56997/investamajurnalekonomidanbisnis.v8i2.962
Hardiati, N., Widiana, S., & Hidayat, S. (2021). Model-model penyelesaian sengketa ekonomi syariah di Indonesia [Sharia economic dispute resolution models in Indonesia]. Transekonomika: Akuntansi, Bisnis Dan Keuangan, 1(5), 485–497. https://doi.org/10.55047/transekonomika.v1i5.80
Hiyanti, H., Nugroho, L., Sukmadilaga, C., & Fitrijanti, T. (2020). Peluang dan tantangan fintech (financial technology) syariah di Indonesia [Opportunities and challenges of sharia fintech (financial technology) in Indonesia]. Jurnal Ilmiah Ekonomi Islam, 5(3), 326–333. https://doi.org/10.29040/jiei.v5i3.578
Huda, C. (2020). Model pengelolaan bisnis syari’ah: Studi kasus Lembaga Pengembangan Usaha Yayasan Badan Wakaf Sultan Agung Semarang [Sharia business management model: Case study of the Semarang Sultan Agung Waqf Foundation Business Development Institute]. Walisongo: Jurnal Penelitian Sosial Keagamaan, 24(1), 165–190. https://doi.org/10.21580/ws.24.1.1140
Iman, N. (2018). Assessing the dynamics of fintech in Indonesia. Investment Management and Financial Innovations, 15(4), 296–303. https://www.ceeol.com/search/article-detail?id=741967
Jihad, F. M., Nugroho, L., & Sugiarti, D. (2022). Kajian pengembangan bisnis syariah di era digitalisasi [Study of sharia business development in the era of digitalization]. Jurnal Cakrawala Ilmiah, 2(3), 1157–1168. https://doi.org/10.53625/jcijurnalcakrawalailmiah.v2i3.4148
Legowo, M. B., Subanidja, S., & Sorongan, F. A. (2021). Fintech and bank: Past, present, and future. Jurnal Teknik Komputer AMIK BSI, 7(1), 94–99. https://doi.org/10.31294/jtk.v7i1.9726
Nasution, J., Hardana, A., & Damisa, A. (2022). Implementasi akad murabahah untuk pembiayaaan modal usaha di Bank Syariah Indonesia Sipirok [Implementation of a murabahah agreement for business capital financing at Bank Syariah Indonesia Sipirok]. Jurnal Pengabdian Masyarakat: Pemberdayaan, Inovasi Dan Perubahan, 2(4), 140–149. https://doi.org/10.59818/jpm.v2i4.237
Nurhadi, N. (2019). The importance of maqashid sharia as a theory in Islamic economic business operations. International Journal of Islamic Business and Economics (IJIBEC), 3(2), 130–145. https://e-journal.uingusdur.ac.id/Ijibec/article/view/1989
Otoritas Jasa Keuangan. (2023). Laporan perkembangan keuangan syariah Indonesia 2022 [Indonesian sharia financial development report 2022]. https://ojk.go.id/id/berita-dan-kegiatan/info-terkini/Pages/OJK-Luncurkan-Buku-Laporan-Perkembangan-Keuangan-Syariah-Indonesia-(LPKSI)-2022.aspx
Pae, C.-U. (2015). Why systematic review rather than narrative review? Psychiatry Investigation, 12(3), 417–419. https://doi.org/10.4306/pi.2015.12.3.417
Pradita, N., Santos, I. H., & Kartika, A. (2019). Determinan pembiayaan murabahah pada bank umum syariah di Indonesia [Determinants of murabahah financing in Islamic commercial banks in Indonesia]. MADIC, 245–251. https://www.unisbank.ac.id/ojs/index.php/madic/article/view/7606
Rahman, F. (2022). Praktik affiliate marketing pada platform e-commerce dalam tinjauan hukum ekonomi syariah [Affiliate marketing practices on e-commerce platforms in a review of sharia economic law]. Istidlal: Jurnal Ekonomi Dan Hukum Islam, 6(1), 24–37. https://doi.org/10.35316/istidlal.v6i1.407
Rahman, F. K., Tareq, M. A., Yunanda, R. A., & Mahdzir, A. (2017). Maqashid Al-Shari’ah-based performance measurement for the halal industry. Humanomics, 33(3), 357–370. https://doi.org/10.1108/H-03-2017-0054
Rista, U. H. (2022). Digitalization transformation adding the “peek balance” feature to MBanking Bank Syariah Indonesia. Prosiding Seminar Nasional Ilmu Manajemen, Ekonomi, Keuangan Dan Bisnis, 1(1), Article 1. https://doi.org/10.55927/snimekb.v1i1.2128
Satria, A. D., Anita, A., Krismadayanti, K., & Noviarita, H. (2021). Development of sharia finance digitalization towards inclusive finance within a Sharia Maqashid framework (Case study on PT Bank Syariah Indonesia’s BSI Mobile Banking Product). Journal of Islamic Business and Economic Review, 4(2), 84–96. https://stebilampung.ac.id/journal/index.php/jiber/article/view/209
Septiani, A., & Thamrin, H. (2021). Urgensi ekonomi syariah dalam menghadapi ekonomi global [The urgency of sharia economics in facing the global economy]. Jurnal Inovasi Penelitian, 2(7), 2203–2212. https://doi.org/10.47492/jip.v2i7.1063
Setyaningrat, D., Mushlihin, I. A., & Zunaidi, A. (2023). Strategi digitalisasi untuk mendorong inklusi keuangan nasabah bank syariah: Pendekatan Technology Acceptance Model (TAM) [Digitalization strategy to encourage financial inclusion of sharia bank customers: Technology Acceptance Model (TAM) approach]. Proceedings of Islamic Economics, Business, and Philanthropy, 2(1), 53–76. https://jurnalfebi.iainkediri.ac.id/index.php/proceedings/article/view/1015
Shabri, H. (2022). Transformasi digital industri perbankan syariah Indonesia [Digital transformation of the Indonesian sharia banking industry]. El-Kahfi | Journal of Islamic Economics, 3(2), 228–234. https://doi.org/10.58958/elkahfi.v3i02.88
Syahrul, H. (2014). Analisis kritis terhadap bunga bank [Critical analysis of bank interest]. DIKTUM: Jurnal Syariah Dan Hukum, 12(2), 186–193. https://doi.org/10.35905/diktum.v12i2.214
Syifa, & Srisusilawati, P. (2022). Analisis faktor lingkungan masyarakat pada pemahaman Digital Bank S [Analysis of community environmental factors in understanding Digital Bank S]. Jurnal Riset Perbankan Syariah, 1(2), 131–138. https://doi.org/10.29313/jrps.v1i2.1587
Tambunan, J. (2022). Peran kearifan lokal dalam pengembangan bisnis syariah di Kota Padang Sidimpuan [The role of local wisdom in developing sharia business in Padang Sidimpuan City]. Iqtishodiyah : Jurnal Ekonomi Dan Bisnis Islam, 8(2), 119–136. https://doi.org/10.55210/iqtishodiyah.v8i2.827
Taufiqin, T. (2015). Hukum Islam tentang minuman keras: Pencegahan dan penanggulangan perilaku minuman keras di Desa Sidomulyo Kecamatan Dempet Kabupaten Demak [Islamic law regarding alcoholic beverages: Prevention and control of alcoholic behavior in Sidomulyo Village, Dempet District, Demak Regency]. Yudisia: Jurnal Pemikiran Hukum Dan Hukum Islam, 6(2), 481–499. https://doi.org/10.21043/yudisia.v6i2.1473
Utama, A. S. (2021). Digitalisasi produk bank konvensional dan bank syariah di Indonesia [Digitalization of conventional bank and sharia bank products in Indonesia]. Jurnal Justisia : Jurnal Ilmu Hukum, Perundang-undangan dan Pranata Sosial, 6(2), 113–126. https://doi.org/10.22373/justisia.v6i2.11532
Wiles, R., Crow, G., & Pain, H. (2011). Innovation in qualitative research methods: A narrative review. Qualitative Research, 11(5), 587–604. https://doi.org/10.1177/1468794111413227
References
Andiko, T. (2018). Signifikansi implementasi konsep ekonomi Islam dalam transaksi bisnis di era modern [The significance of implementing Islamic economic concepts in business transactions in the modern era]. Jurnal Ilmiah Mizani: Wacana Hukum, Ekonomi, Dan Keagamaan, 4(1), 9–22. https://doi.org/10.29300/mzn.v4i1.1004
Ansori, A. (2016). Digitalisasi ekonomi syariah [Digitalization of the sharia economy]. Islamiconomic: Jurnal Ekonomi Islam, 7(1), 1–18. https://doi.org/10.32678/ijei.v7i1.33
Ariska, R., & Aziz, A. (2016). Penimbunan barang perspektif hukum ekonomi Islam [Hoarding of goods from an Islamic economic law perspective]. Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah, 3(2), 94–107. https://doi.org/10.24235/jm.v3i2.456
Azizah, W., & Farid, M. (2021). Manajemen risiko dalam perbankan syariah [Risk management in Islamic banking]. Muhasabatuna : Jurnal Akuntansi Syariah, 3(2), 67–80. https://doi.org/10.54471/muhasabatuna.v3i2.1184
Bank Indonesia. (2014, August 14). Electronification [HTML]. Bank Indonesia. https://www.bi.go.id/en/fungsi-utama/sistem-pembayaran/ritel/elektronifikasi/default.aspx
Bank Indonesia. (2021, July 1). Bank Indonesia Regulation Number 23/6/PBI/2021 on Payment Service Providers. https://www.bi.go.id/en/publikasi/peraturan/Documents/PBI_230621_EN.pdf
Bella, F. I., & Himmawan, M. F. (2021). Digitalization and efficiency: Technology-based service of Indonesia sharia commercial banks. Iqtishadia, 14(2), 280–300. https://doi.org/10.21043/iqtishadia.v14i2.8983
BI Institute. (2022, October 7). Digital financial inclusion driving economic growth by Muhammad Adisurya Pratama [HTML]. BI Institute. https://www.bi.go.id/en/bi-institute/BI-Epsilon/Pages/Inklusi-Keuangan-Digital-Dorong-Pertumbuhan-Ekonomi.aspx
Djakfar, M. (2009). Perusahaan dalam perspektif Islam [Companies from an Islamic perspective]. Iqtishoduna, 4(3), Article 3. https://doi.org/10.18860/iq.v4i3.301
Firdho, M., Suhendra, A. A., & Wulandari, S. (2023). Perancangan strategi digital marketing pada produk Amelia Brownies menggunakan metode SOSTAC [Designing a digital marketing strategy for Amelia Brownies products using the SOSTAC method]. eProceedings of Engineering, 10(3), 2868–2879. https://openlibrarypublications.telkomuniversity.ac.id/index.php/engineering/article/view/20529
Firmansyah, D., & Susetyo, D. P. (2022). Financial behavior in the digital economy era: Financial literacy and digital literacy. Jurnal Ekonomi Dan Bisnis Digital, 1(4), 367–390. https://doi.org/10.55927/ministal.v1i4.2368
Gosal, G. G., & Nainggolan, R. (2023). The influence of digital financial literacy on Indonesian SMEs’ financial behavior and financial well-being. International Journal of Professional Business Review, 8(12), e04164–e04164. https://doi.org/10.26668/businessreview/2023.v8i12.4164
Halim, A. (2022). Perkembangan ekonomi syariah di indonesia [The development of sharia economics in Indonesia]. Investama : Jurnal Ekonomi dan Bisnis, 8(2), 101–120. https://doi.org/10.56997/investamajurnalekonomidanbisnis.v8i2.962
Hardiati, N., Widiana, S., & Hidayat, S. (2021). Model-model penyelesaian sengketa ekonomi syariah di Indonesia [Sharia economic dispute resolution models in Indonesia]. Transekonomika: Akuntansi, Bisnis Dan Keuangan, 1(5), 485–497. https://doi.org/10.55047/transekonomika.v1i5.80
Hiyanti, H., Nugroho, L., Sukmadilaga, C., & Fitrijanti, T. (2020). Peluang dan tantangan fintech (financial technology) syariah di Indonesia [Opportunities and challenges of sharia fintech (financial technology) in Indonesia]. Jurnal Ilmiah Ekonomi Islam, 5(3), 326–333. https://doi.org/10.29040/jiei.v5i3.578
Huda, C. (2020). Model pengelolaan bisnis syari’ah: Studi kasus Lembaga Pengembangan Usaha Yayasan Badan Wakaf Sultan Agung Semarang [Sharia business management model: Case study of the Semarang Sultan Agung Waqf Foundation Business Development Institute]. Walisongo: Jurnal Penelitian Sosial Keagamaan, 24(1), 165–190. https://doi.org/10.21580/ws.24.1.1140
Iman, N. (2018). Assessing the dynamics of fintech in Indonesia. Investment Management and Financial Innovations, 15(4), 296–303. https://www.ceeol.com/search/article-detail?id=741967
Jihad, F. M., Nugroho, L., & Sugiarti, D. (2022). Kajian pengembangan bisnis syariah di era digitalisasi [Study of sharia business development in the era of digitalization]. Jurnal Cakrawala Ilmiah, 2(3), 1157–1168. https://doi.org/10.53625/jcijurnalcakrawalailmiah.v2i3.4148
Legowo, M. B., Subanidja, S., & Sorongan, F. A. (2021). Fintech and bank: Past, present, and future. Jurnal Teknik Komputer AMIK BSI, 7(1), 94–99. https://doi.org/10.31294/jtk.v7i1.9726
Nasution, J., Hardana, A., & Damisa, A. (2022). Implementasi akad murabahah untuk pembiayaaan modal usaha di Bank Syariah Indonesia Sipirok [Implementation of a murabahah agreement for business capital financing at Bank Syariah Indonesia Sipirok]. Jurnal Pengabdian Masyarakat: Pemberdayaan, Inovasi Dan Perubahan, 2(4), 140–149. https://doi.org/10.59818/jpm.v2i4.237
Nurhadi, N. (2019). The importance of maqashid sharia as a theory in Islamic economic business operations. International Journal of Islamic Business and Economics (IJIBEC), 3(2), 130–145. https://e-journal.uingusdur.ac.id/Ijibec/article/view/1989
Otoritas Jasa Keuangan. (2023). Laporan perkembangan keuangan syariah Indonesia 2022 [Indonesian sharia financial development report 2022]. https://ojk.go.id/id/berita-dan-kegiatan/info-terkini/Pages/OJK-Luncurkan-Buku-Laporan-Perkembangan-Keuangan-Syariah-Indonesia-(LPKSI)-2022.aspx
Pae, C.-U. (2015). Why systematic review rather than narrative review? Psychiatry Investigation, 12(3), 417–419. https://doi.org/10.4306/pi.2015.12.3.417
Pradita, N., Santos, I. H., & Kartika, A. (2019). Determinan pembiayaan murabahah pada bank umum syariah di Indonesia [Determinants of murabahah financing in Islamic commercial banks in Indonesia]. MADIC, 245–251. https://www.unisbank.ac.id/ojs/index.php/madic/article/view/7606
Rahman, F. (2022). Praktik affiliate marketing pada platform e-commerce dalam tinjauan hukum ekonomi syariah [Affiliate marketing practices on e-commerce platforms in a review of sharia economic law]. Istidlal: Jurnal Ekonomi Dan Hukum Islam, 6(1), 24–37. https://doi.org/10.35316/istidlal.v6i1.407
Rahman, F. K., Tareq, M. A., Yunanda, R. A., & Mahdzir, A. (2017). Maqashid Al-Shari’ah-based performance measurement for the halal industry. Humanomics, 33(3), 357–370. https://doi.org/10.1108/H-03-2017-0054
Rista, U. H. (2022). Digitalization transformation adding the “peek balance” feature to MBanking Bank Syariah Indonesia. Prosiding Seminar Nasional Ilmu Manajemen, Ekonomi, Keuangan Dan Bisnis, 1(1), Article 1. https://doi.org/10.55927/snimekb.v1i1.2128
Satria, A. D., Anita, A., Krismadayanti, K., & Noviarita, H. (2021). Development of sharia finance digitalization towards inclusive finance within a Sharia Maqashid framework (Case study on PT Bank Syariah Indonesia’s BSI Mobile Banking Product). Journal of Islamic Business and Economic Review, 4(2), 84–96. https://stebilampung.ac.id/journal/index.php/jiber/article/view/209
Septiani, A., & Thamrin, H. (2021). Urgensi ekonomi syariah dalam menghadapi ekonomi global [The urgency of sharia economics in facing the global economy]. Jurnal Inovasi Penelitian, 2(7), 2203–2212. https://doi.org/10.47492/jip.v2i7.1063
Setyaningrat, D., Mushlihin, I. A., & Zunaidi, A. (2023). Strategi digitalisasi untuk mendorong inklusi keuangan nasabah bank syariah: Pendekatan Technology Acceptance Model (TAM) [Digitalization strategy to encourage financial inclusion of sharia bank customers: Technology Acceptance Model (TAM) approach]. Proceedings of Islamic Economics, Business, and Philanthropy, 2(1), 53–76. https://jurnalfebi.iainkediri.ac.id/index.php/proceedings/article/view/1015
Shabri, H. (2022). Transformasi digital industri perbankan syariah Indonesia [Digital transformation of the Indonesian sharia banking industry]. El-Kahfi | Journal of Islamic Economics, 3(2), 228–234. https://doi.org/10.58958/elkahfi.v3i02.88
Syahrul, H. (2014). Analisis kritis terhadap bunga bank [Critical analysis of bank interest]. DIKTUM: Jurnal Syariah Dan Hukum, 12(2), 186–193. https://doi.org/10.35905/diktum.v12i2.214
Syifa, & Srisusilawati, P. (2022). Analisis faktor lingkungan masyarakat pada pemahaman Digital Bank S [Analysis of community environmental factors in understanding Digital Bank S]. Jurnal Riset Perbankan Syariah, 1(2), 131–138. https://doi.org/10.29313/jrps.v1i2.1587
Tambunan, J. (2022). Peran kearifan lokal dalam pengembangan bisnis syariah di Kota Padang Sidimpuan [The role of local wisdom in developing sharia business in Padang Sidimpuan City]. Iqtishodiyah : Jurnal Ekonomi Dan Bisnis Islam, 8(2), 119–136. https://doi.org/10.55210/iqtishodiyah.v8i2.827
Taufiqin, T. (2015). Hukum Islam tentang minuman keras: Pencegahan dan penanggulangan perilaku minuman keras di Desa Sidomulyo Kecamatan Dempet Kabupaten Demak [Islamic law regarding alcoholic beverages: Prevention and control of alcoholic behavior in Sidomulyo Village, Dempet District, Demak Regency]. Yudisia: Jurnal Pemikiran Hukum Dan Hukum Islam, 6(2), 481–499. https://doi.org/10.21043/yudisia.v6i2.1473
Utama, A. S. (2021). Digitalisasi produk bank konvensional dan bank syariah di Indonesia [Digitalization of conventional bank and sharia bank products in Indonesia]. Jurnal Justisia : Jurnal Ilmu Hukum, Perundang-undangan dan Pranata Sosial, 6(2), 113–126. https://doi.org/10.22373/justisia.v6i2.11532
Wiles, R., Crow, G., & Pain, H. (2011). Innovation in qualitative research methods: A narrative review. Qualitative Research, 11(5), 587–604. https://doi.org/10.1177/1468794111413227