Monopolistic Pricing and Market Ethics in Rural Indonesia: An Islamic Economic Analysis of The Spice Trade Iwan Wisandani, Joni, Agus Ahmad Nasrulloh, Acep Zoni Saeful Mubarok, Heni Sukmawati, Muhamad Nurhidayat International Journal of Accounting and Economics Studies, 2025 This study investigates the monopolistic pricing practices in the spice trade of Desa Bangkapi, a rural agrarian community in West Java, Indonesia. Despite the economic potential of spices such as cardamom and clove, smallholder farmers remain marginalized in price negotiations, bound by informal credit schemes and buyer-controlled market structures. Grounded in the framework of Islamic economics, which emphasizes justice (‘add) and prohibits exploitation (shikar), this research explores how these unethical practices persist and affect farmers’ livelihoods. Using a qualitative descriptive method, data were collected through semi-structured interviews, direct observation, and analysis of local trade documents involving 30 stakeholders: farmers, collectors, and village officials. The findings reveal a pervasive system of price suppression, enforced dependency, and income instability, exacerbated by asymmetric information and power dynamics. Such arrangements not only hinder market fairness but also contradict Islamic ethical norms on transparency, voluntary exchange, and mutual benefit. The study contributes to the literature by integrating Islamic moral economy with empirical analysis of rural market behavior. It proposes actionable strategies, including local price regulation (tastier), cooperative-based collective bargaining, and sharia-compliant financing models to restore justice and empower producers. This research offers practical and ethical insights for policymakers, scholars, and practitioners concerned with equitable trade in Muslim-majority rural economies.
Digitalisation of Islamic Finance in the Era of Industrial Revolution 5.0: The Contribution of Crowdfunding and e-Wakaf to Islamic Fintech Heru Wahyudi, Iwan Wisandani, Cheri Saputra, Winda Rika Lestari, Sandra Mei Leny International Journal of Economics and Financial Issues, 2025 This study analyses the contribution of digitalisation in Islamic finance through the application of Islamic crowdfunding and e-wakaf instruments in supporting the development of Islamic fintech in Indonesia, especially in the era of the Industrial Revolution 5.0. Digitalisation in the Islamic finance sector plays a strategic role in expanding access to financial inclusion and facilitating more effective community involvement in sharia-based economic activities. Using the robust least squares (RLS) method, this study utilises secondary data for the period 2018-2023 to evaluate the impact of Islamic crowdfunding and e-wakaf on the growth of Islamic fintech. The results show that Islamic crowdfunding significantly expands access to alternative funding, especially for small and medium enterprises (SMEs), while e-wakaf improves transparency and efficiency of waqf asset management through digital technology. These two instruments simultaneously contribute positively to the strengthening of the Islamic fintech ecosystem in Indonesia, creating a strong foundation for broader and sustainable financial inclusion. The findings provide important perspectives for the development of innovative policies and strategies in advancing the Islamic financial sector in the digital era.
Investment decisions in the interbank money market based on islamic principles Opcion, 2019
RECENT SCHOLAR PUBLICATIONS
Strategies for Strengthening Islamic Cooperatives through Improving Sharia-Based Management Performance: Case Study at KSPPS Surya Utama Nusantara I Wisandani, Y Rafiqi, H Sukmawati, HF Rohman Journal of Cultural Analysis and Social Change, 3640-3647 , 2025 2025
Revolutionizing Islamic Banking Metrics: Integrating Financial and Sharia-Based Indicators in Performance Evaluation I Wisandani, H Sukmawati, AZS Mubarok, D Friantoro, RT Febrianti Journal of Posthumanism 5 (4), 1145–1156-1145–1156 , 2025 2025 Citations: 1
Digitalisation of Islamic finance in the era of industrial revolution 5.0: The contribution of crowdfunding and e-Wakaf to Islamic Fintech H Wahyudi, I Wisandani, C Saputra, WR Lestari, SM Leny International Journal of Economics and Financial Issues 15 (2), 46 , 2025 2025 Citations: 23
Analysis of MSMEs in Tasikmalaya City Based on Business Characteristics and Scale H Sukmawati, FZ Nasution, I Wisandani, L Mutmainah JURNAL EKONOMI SYARIAH 9 (2), 154-167 , 2024 2024
Keberhasilan Upaya Pemberdayaan Ekonomi Perempuan Anggota KOPMU Daarut Tauhiid melalui Penerapan Social Entrepreneurship FZ Nasution, H Sukmawati, I Wisandani J-Dinamika: Jurnal Pengabdian Masyarakat 9 (2), 256-266 , 2024 2024 Citations: 1
The Role of Indonesia Magnifience of Zakat and Waqaf in Reducing Proverty H Wahyudi, WR Lestari, T Nirmala, SM Leny, I Wisandani Journal of Management World 4, 812-819 , 2024 2024 Citations: 1
Efficiency Strategy for Indonesian Islamic Commercial Banks During the Covid-19 Pandemic I Wisandani, H Sukmawati International Journal of Multidisciplinary: Applied Business and Education … , 2023 2023
Acceptance and Use of Muzakki To Pay Non-Cash Zakat in West Java: Theory Extension of Technology of Acceptance Model H Sukmawati, I Wisandani, MR Kurniaputri Jurnal Ekonomi Syariah Teori dan Terapan 9 (4), 439-452 , 2022 2022 Citations: 9
Penerimaan dan Penggunaan Muzakki dalam Membayar Zakat Non-Tunai di Jawa Barat: Ekstensi Teori Technology of Acceptance Mod. H Sukmawati, I Wisandani, MR Kurniaputri Jurnal Ekonomi Syariah Teori Dan Terapan 9 (4) , 2022 2022 Citations: 27
Dasar-Dasar Akuntansi Syariah E Latifah, R Rianto, RN Kusumadewi, A Fauzi, M Masyhuri, SL Indarto, ... Jawa Tengah: Eureke Media Aksara , 2022 2022 Citations: 28
PENGARUH PDB DAN KURS RUPIAH-USD TERHADAP INVESTASI PORTOFOLIO ASING DI INDONESIA I Wisandani, AA Nasrulloh EKSPANSI: Jurnal Ekonomi, Keuangan, Perbankan, dan Akuntansi 13 (2), 170-178 , 2021 2021
Analisis Penerapan Psak 109 Dalam Menyusun Laporan Keuangan Di Baznas Kabupaten Tasikmalaya A Rokib, I Wisandani, E Murhasanah Taraadin: Jurnal Ekonomi Dan Bisnis Islam 1 (2), 99-109 , 2021 2021 Citations: 40
Analisis Implementasi Psak 101 Pada Laporan Keuangan Di Kspps Bmt Al-Bina Tasikmalaya N Nazhifah, I Wisandani, L Marlina Jurnal Ekonomi Syariah 5 (1), 42-58 , 2020 2020 Citations: 32
Analisis Penerapan Fatwa Zakat Majelis Ulama Indonesia Pada Lembaga Amil Zakat Nasional Dompet Peduli Umat Daarut Tauhid Priangan Timur I Wisandani Jurnal Justisia Ekonomika: Magister Hukum Ekonomi Syariah 4 (2) , 2020 2020 Citations: 3
Analisis Penerapan Fatwa Majelis Ulama Indonesia Pada Lembaga Amil Zakat Nasional Dompet Peduli Ummat Daarut Tauhid Priangan Timur I Wisandani Justisia Ekonomika 4 (Magister Hukum Ekonomi Syariah), - , 2020 2020
Investment decisions in the interbank money market based on islamic principles I Wisandani, S Iswati, M Anshori, R Ismail Opción: Revista de Ciencias Humanas y Sociales, 1308-1322 , 2019 2019 Citations: 2
PENGARUH FAKTOR EKONOMIS, PSIKOLOGIS, LINGKUNGAN KERJA, MOTIVASI, DAN RELIGIUSITAS ISLAMI TERHADAP KEPUTUSAN INVESTASI MANAJER TRESURI PERBANKAN ISLAM PADA PASAR UANG ANTAR … I WISANDANI Universitas Airlangga , 2019 2019
The monetary policy in Indonesia: in the perspective of Islamic economics I Wisandani, S Iswati, R Ismal International Journal of Nusantara Islam 5 (1), 59-74 , 2017 2017 Citations: 13
Sistem Informasi UPZ (Unit Pengumpulan Zakat) Terintegrasi Berbasis WEB (Studi Kasus: BAZNAS Kota Tasikmalaya) AI Gufroni, I Wisandani, H Sukmawati Jurnal Sistem Komputer 4 (2) , 2014 2014 Citations: 2
Sistem Informasi Unit Pengumpul Zakat Terintegrasi (Studi Kasus: BAZNAS Kota Tasikmalaya) AI Gufroni, I Wisandani, H Sukmawati Jurnal Nasional Teknik Elektro dan Teknologi Informasi (JNTETI) 3 (4), 236-241 , 2014 2014 Citations: 20
MOST CITED SCHOLAR PUBLICATIONS
Analisis Penerapan Psak 109 Dalam Menyusun Laporan Keuangan Di Baznas Kabupaten Tasikmalaya A Rokib, I Wisandani, E Murhasanah Taraadin: Jurnal Ekonomi Dan Bisnis Islam 1 (2), 99-109 , 2021 2021.0 Citations: 40
Analisis Implementasi Psak 101 Pada Laporan Keuangan Di Kspps Bmt Al-Bina Tasikmalaya N Nazhifah, I Wisandani, L Marlina Jurnal Ekonomi Syariah 5 (1), 42-58 , 2020 2020.0 Citations: 32
Dasar-Dasar Akuntansi Syariah E Latifah, R Rianto, RN Kusumadewi, A Fauzi, M Masyhuri, SL Indarto, ... Jawa Tengah: Eureke Media Aksara , 2022 2022.0 Citations: 28
Penerimaan dan Penggunaan Muzakki dalam Membayar Zakat Non-Tunai di Jawa Barat: Ekstensi Teori Technology of Acceptance Mod. H Sukmawati, I Wisandani, MR Kurniaputri Jurnal Ekonomi Syariah Teori Dan Terapan 9 (4) , 2022 2022.0 Citations: 27
Digitalisation of Islamic finance in the era of industrial revolution 5.0: The contribution of crowdfunding and e-Wakaf to Islamic Fintech H Wahyudi, I Wisandani, C Saputra, WR Lestari, SM Leny International Journal of Economics and Financial Issues 15 (2), 46 , 2025 2025.0 Citations: 23
Sistem Informasi Unit Pengumpul Zakat Terintegrasi (Studi Kasus: BAZNAS Kota Tasikmalaya) AI Gufroni, I Wisandani, H Sukmawati Jurnal Nasional Teknik Elektro dan Teknologi Informasi (JNTETI) 3 (4), 236-241 , 2014 2014.0 Citations: 20
The monetary policy in Indonesia: in the perspective of Islamic economics I Wisandani, S Iswati, R Ismal International Journal of Nusantara Islam 5 (1), 59-74 , 2017 2017.0 Citations: 13
AA, & Bakri.(2022) RA Arum, Y Wahyuni, R Ristiyana, U Nadhiroh, I Wisandani, ... Analisis Laporan Keuangan: Penilaian Kinerja Perusahaan Dengan Pendekatan … , 0 Citations: 10
Acceptance and Use of Muzakki To Pay Non-Cash Zakat in West Java: Theory Extension of Technology of Acceptance Model H Sukmawati, I Wisandani, MR Kurniaputri Jurnal Ekonomi Syariah Teori dan Terapan 9 (4), 439-452 , 2022 2022.0 Citations: 9
& Hartatik, S. AA, & Bakri.(2022) RA Arum, Y Wahyuni, R Ristiyana, U Nadhiroh, I Wisandani, ... Analisis Laporan Keuangan: Penilaian Kinerja Perusahaan Dengan Pendekatan … , 0 Citations: 6
Analisis Penerapan Fatwa Zakat Majelis Ulama Indonesia Pada Lembaga Amil Zakat Nasional Dompet Peduli Umat Daarut Tauhid Priangan Timur I Wisandani Jurnal Justisia Ekonomika: Magister Hukum Ekonomi Syariah 4 (2) , 2020 2020.0 Citations: 3
Investment decisions in the interbank money market based on islamic principles I Wisandani, S Iswati, M Anshori, R Ismail Opción: Revista de Ciencias Humanas y Sociales, 1308-1322 , 2019 2019.0 Citations: 2
Sistem Informasi UPZ (Unit Pengumpulan Zakat) Terintegrasi Berbasis WEB (Studi Kasus: BAZNAS Kota Tasikmalaya) AI Gufroni, I Wisandani, H Sukmawati Jurnal Sistem Komputer 4 (2) , 2014 2014.0 Citations: 2
Revolutionizing Islamic Banking Metrics: Integrating Financial and Sharia-Based Indicators in Performance Evaluation I Wisandani, H Sukmawati, AZS Mubarok, D Friantoro, RT Febrianti Journal of Posthumanism 5 (4), 1145–1156-1145–1156 , 2025 2025.0 Citations: 1
Keberhasilan Upaya Pemberdayaan Ekonomi Perempuan Anggota KOPMU Daarut Tauhiid melalui Penerapan Social Entrepreneurship FZ Nasution, H Sukmawati, I Wisandani J-Dinamika: Jurnal Pengabdian Masyarakat 9 (2), 256-266 , 2024 2024.0 Citations: 1
The Role of Indonesia Magnifience of Zakat and Waqaf in Reducing Proverty H Wahyudi, WR Lestari, T Nirmala, SM Leny, I Wisandani Journal of Management World 4, 812-819 , 2024 2024.0 Citations: 1
Strategies for Strengthening Islamic Cooperatives through Improving Sharia-Based Management Performance: Case Study at KSPPS Surya Utama Nusantara I Wisandani, Y Rafiqi, H Sukmawati, HF Rohman Journal of Cultural Analysis and Social Change, 3640-3647 , 2025 2025.0
Analysis of MSMEs in Tasikmalaya City Based on Business Characteristics and Scale H Sukmawati, FZ Nasution, I Wisandani, L Mutmainah JURNAL EKONOMI SYARIAH 9 (2), 154-167 , 2024 2024.0
Efficiency Strategy for Indonesian Islamic Commercial Banks During the Covid-19 Pandemic I Wisandani, H Sukmawati International Journal of Multidisciplinary: Applied Business and Education … , 2023 2023.0
PENGARUH PDB DAN KURS RUPIAH-USD TERHADAP INVESTASI PORTOFOLIO ASING DI INDONESIA I Wisandani, AA Nasrulloh EKSPANSI: Jurnal Ekonomi, Keuangan, Perbankan, dan Akuntansi 13 (2), 170-178 , 2021 2021.0
