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"Just like the Gutenberg revolution in the fifteenth century, which led to the emergence of non-conventional religious authority in the Christian world, the current information technology revolution, particularly through mediums such as Facebook, Instagram, YouTube, and Twitter, has triggered the re-construction and decentralization of religious authority in Islam. New santri (pious individuals) and preachers emerged from the non-conventional religious educational system. They not only challenged the traditional authorities, but also redefine and re-conceptualize old religious terminologies, such as hijra and wasatiyya. This book explores the dynamics of religious authority in Indonesia with special attention to the challenges from the "new santri". It is a rich and important book on religion. I recommend students of religion in Indonesia and other countries to read it.Ahmad Syafi'i Maarif, Professor Emeritus of History at Yogyakarta State UniversityAn important and timely volume that addresses the changing nature of Islamic leadership in the world's most popular Muslim country. This book debunks many (mis)perceptions that Indonesia Islam is monolithic. It also redefines dominant characterization of Islam by Orientalist scholars, such as santri and abangan Muslims.Haedar NashirChairman of MuhammadiyahThis edited volume evaluates the new development of Islamic scholarship and authority in Indonesia. Things have changed significantly in recent times that make many observers and researchers wondering: has Indonesia moved from traditional authorities, mainstream Islamic organizations, and the established scholarship to the new actors, movements and platforms? Has the change occurs owing to the democratization and political reforms that took place in the last twenty years or are there other factors we need to take into account? The contributors in this book provide possible answers from many different areas and perspectives. It's a must-read!Nadirsyah HosenMonash University, Australia"

"What are the mechanisms of change and adaptation in Islam, regarded as a living organism, and how do they work? How did these mechanisms preserve the integrity of Muslim civilization through the innumerable hazards, divisions and devastations of time? From the perspective of history and intellectual history, this book focuses on a significant, though still largely under studied, aspect of this immense issue, namely, the role of mystical and messianic ferment in the construction and re-construction of religious authority in Islam. Sixteen scholars address this topic with a variety of approaches, providing a fresh outlook on the trends underlying the evolution of Muslim societies and, in particular, the emergence and consolidation of the Ottoman, Safavid and Mughal Empires. "

"Penelitian ini bertujuan mengusulkan konsep dinar sebagai salah satu alat pembayaran dalam transaksi perdagangan international. Dinar dan Dirham dalam dunia Islam sudah digunakan sejak zaman sebelum Nabi Muhammad menjadi Khalifah, dan tetap digunakan di masa kepemimpinan Nabi Muhammad hingga Khalifah Ottoman pada tahun 1924. Berdasarkan studi literatur, Dinar mempunyai tingkat kestabilan yang lebih tinggi dibandingkan mata uang fiat yang saat ini digunakan. Mata uang yang digunakan dalam perdagangan internasional adalah mata uang dari negar maju yang dinilai memiliki nilai kestabilan yang lebih tinggi seperti US Dollar, Europe, Poundsterling. Namun, beberapa kajian juga menilai kekurangan dari mata uang (currency tersebut, karena nilainya yang fluktuatif dan menimbulkan kerugian bagi para pelaku pedagang international (eksportir dan importir).Analisa pada penelitian ini dilakukan untuk membandingkan kestabilan antara Dinar dengan US Dolar, serta melihat data transaksi perdagangan Internasional Indonesia dengan negara anggota Organisasi Kerjasama Islam (OKI). Berdasarkan Analisa trend data dari 2001-2019, diduga volatilitas Dinar lebih tinggi daripada US Dolar. Berdasarkan Uji Kausalitas Granger didapatkan bahwa variable Dinar secara statistic signifikan mempengaruhi nilai tukar US Dolar, dan tidak sebaliknya. Sehingga dapat disimpulkan bahwa terdapat hubungan satu arah, yaitu hanya Dinar yang secara statistic signifikan mempengaruhi US Dolar. Berdasarkan pernyataan hasil perhitungan standar deviasi, dapat diputuskan bahwa Dinar Emas (DINAR) merupakan mata uang yang lebih stabil dibandingkan Dolar AS (USD). Hal tersebut dikarenakan Dinar Emas (DINAR) memiliki volatilitas yang lebih rendah dibandingkan Dolar AS (USD). Hasil analisis studi kasus perdagangan international antara Indonesia dengan anggota negara OKI didapatkan hasil bahwa untuk negara-negara tertentu yang memiliki nilai transaksi impor tidak terlalu besar (Indonesia meng-impor, dan lawan transaksi meng-ekspor), dimungkinkan penggunaan dinar diterapkan dengan mempertimbangkan kecukupan emas yang dimiliki Indonesia. Namun, perlu dilihat juga nilai kecukupan emas negara lawan transaksi tersebut, mengingat mereka juga memiliki nilai transaksi ekspor dengan Indonesia ( Indonesia meng-ekspor, dan negara lawan transaksi meng-impor dari Indonesia). Namun, untuk negara yang memiliki nilai transaksi impor besar, misal dengan Malaysia, tidak memungkinkan penerapan dinar sebagai alat tukar dilakukan, karena Indonesia tidak memiliki kecukupan emas. Apalagi jika mengikutsertakan impor migas dari negara timur tengah yang notabene juga anggota Negara OKI, maka penerapan Dinar sebagai alat pembayaran sangat tidak mungkin dilakukan.

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exchange in international trading. Based on Islamic history, Dinar and Dirham had been used as medium of exchange before Rasulullaah Muhammad SAW became a prophet, and Rasulullah still used that medium and they still be used until The Ottoman Caliphate in 1924.

Based on the literature, Dinar has the highest stability level rather than fiat money that is used for now. In international trading, developed countries’s currencies are used as a medium of exchange, because their curencies were valued have more stabil, for example US Dollar, Euro and Poundsterling. However, there are many papers that found the shortage of the currencies, because they are fluctuating and cause losses in international trading transactions.

Analysis in this paper are aimed to compare the stability between Dinar and US Dollar, and also analyze international trading transaction between Indonesia and the members of Organization of Islamic Cooperation (OIC).

The result of trend analysis from data series within 2001-2019, Dinar’s volatility is higher than US Dollar. Granger Causalities test shows there is one way causality between Dinar and US Dollar, Dinar does cause ganger USD or statistically, Dinar influence significantly US Dollar, and not vice versa. The result of standard deviation calculation, was found that Dinar more stabil than USD. Based on case study analysis, for some country that Indonesia has transaction’s import amount not too big, it’s possible to apply dinar as a medium of exchange. This is considering the number of gold that Indonesia has. But, this paper doesn’t include oil and gas transaction. Indonesia imports oil and gas from middle east country which is the member of OIC with a big amount. And the gold that Indonesia has not sufficient to pay that big amount. By that, generally, Dinar couldn’t apply in International trading between Indonesia and the the few members of OIC. "

"Penelitian ini ditulis dengan tema konsep siyasah pada pergerakan Islam di Indonesia. Penelitian ini merupakan penelitian kualitatif komparatif dengan sumber pencarian data berupa studi pustaka, mengambil dari sumber acuan seperti referensi buku dan penelitian sebelumnya. Setelah penelitian, penulis menemukan kesimpulan bahwa keempat organisasi ini sepakat bahwa Islam adalah agama yang syumu>l, lengkap, menyeluruh dan komprehensif. Maka Islam membahas seluruh segi kehidupan manusia termasuk politik. Meski memiliki pandangan sama tentang syumu>liyatul Islam, Islam yang komprehensif keempat organisasi ini memiliki pandangan yang berbeda terutama dalam implementasi konsep siyasah di kehidupan sehari-hari.

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This research is written with the concept of siyasah theme on the movement of Islam in Indonesia. This study is a qualitative research comparative with the source of data search in the form of literature study, taking from reference sources such as reference books and previous research. After the research, the authors found the conclusion that these four organizations agree Islam is syumu>l, complete and comprehensive, then Islam discusses all aspects of human life including politics. Despite having the same view of syumu>liyatul Islam¸ complete and comprehensive, these four organizations have different views, especially in the implementation of the concept siyasah in daily life. "

"Penelitian ini membahas tentang empat lirik lagu yang dinyanyikan oleh penyanyi asal Lebanon, yaitu Maher Zain. Lagu-lagu yang dinyanyikan Maher Zain memiliki nilai religi Islam yang begitu kental. Dari beberapa lagu yang dinyanyikan, peneliti mengambil empat sampel lagu berdasarkan lagu yang bernuansa religi. Keempat lagu yang dijadikan sebagai sampel penelitian yaitu Ra?iitu Billaahi Rabbaa, Rama?aan, Yaa Nabi Salaam lsquo;Alaika, dan Jannah. Penelitian ini bertujuan untuk menjelaskan analisis struktur, isi, dan nilai religi pada lagu Ra?iitu Billaahi Rabbaa, Rama?aan, Yaa Nabi Salaam lsquo;Alaika, dan Jannah. Penelitian ini menggunakan metode kualitatif dengan studi pustaka. Penulis mengunduh keempat lagu tersebut di Internet, kemudian penulis menyesuaikan teks lirik lagu dengan akun resmi Awakening Records yaitu manajemen yang menaungi Maher Zain. Hasil penelitian menunjukkan bahwa empat lagu yang dibahas oleh penulis memiliki nilai religi akidah, syariah, dan akhlak. Empat lagu yang diteliti lebih mengedepankan rasa cinta terhadap Allah, Rasul, agama Islam, serta menyajikan tema seputar kehidupan di akhirat. Lagu Ra?iitu Billaahi Rabbaa menunjukkan nilai religi berupa akidah Ilahiah dan Nubuwwah, nilai religi syariah, dan akhlak. Pada lagu Rama?aan terdapat nilai religi berupa syariah karena lagu ini erat kaitannya dengan ibadah. Lagu ketiga yaitu Yaa Nabi Salaam lsquo;Alaika mengandung nilai akidah Nubuwwah. Lagu terakhir yaitu Jannah memiliki nilai religi yaitu aspek akidah, karena erat kaitannya dengan beriman kepada hari kiamat.

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This study discusses four song lyrics which are popularized by Lebanese singer, Maher Zain. The songs have very strong Islamic values. From the songs that are being analyzed, the writer take only four songs based on religious songs as samples. The four songs being used as research samples are Radhiitu Billaahi Rabbaa, Ramadhaan, Yaa Prophet Salaam 39 Alaika, and Jannah. This study aims to explain the analysis of structure, content, and religious values on songs that have been mentioned. This research uses qualitative method with literature study. The author downloaded the four songs on the Internet, and the author adjusted the lyrics of the song with the official account of Awakening Records, the management that overshadowed Maher Zain. The results showed that the four songs discussed by the author has religious values of creed, sharia, and akhlaq. The four songs studied put forward the love of Allah, the Prophet, the religion of Islam, and presents the theme about life in the afterlife. The song Radhiitu Billaahi Rabbaa shows religious values of Divine and Nubuwwah aqidah, shariah religious values, and morals. In Ramadhaan song, there is a religious value of sharia because this song is closely related to worship. The third song is Yaa Prophet Salaam 39 Alaika contains the value of the creed of Nubuwwah. The last song, Jannah, has a religious value which is aspect of aqidah because it is closely related with the faith of the Muslims to the doomsday."

"Konsep likuiditas menjelaskan bahwa likuiditas berkaitan dengan seberapa cepat aset keuangan dapat ditransaksikan dalam jumlah besar tanpa menimbulkan biaya transaksi yang tinggi. Penelitian ini bertujuan untuk mengetahui pengaruh karakteristik sukuk seperti volume transaksi, sisa tenor, yield-to-maturity, dan peringkat sukuk korporasi terhadap likuiditas pasarnya. Selain itu, faktor makroekonomi seperti inflasi, JIBOR, consumer confidence index, dan Jakarta Islamic Index juga digunakan untuk melihat pengaruhnya terhadap likuiditas pasar sukuk di Indonesia. Analisis penelitian ini menggunakan sukuk negara serta sukuk korporasi sebagai sampel penelitian. Penelitian ini menunjukkan bahwa likuiditas sukuk negara dipengaruhi oleh karakteristiknya serta beberapa faktor makroekonomi lainnya. Sedangkan faktor makroekonomi tidak terbukti berpengaruh terhadap sampel sukuk korporasi. Akan tetapi, faktor seperti Jakarta Islamic Index menunjukkan bahwa sukuk korporasi merupakan aset keuangan yang cukup subtitutif dengan aset lain seperti saham syariah.

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Liquidity emphasizes the ease with which financial assets can be transacted in large quantities without incurring significant transaction costs. This study aims to determine the influence of sukuk characteristics such as transaction volume, time-to-maturity, yield-to-maturity, and credit rating of corporate sukuk on their market liquidity. Additionally, macroeconomic factors like inflation, JIBOR, consumer confidence index, and the Jakarta Islamic Index are used to examine their impact on sukuk market liquidity in Indonesia. The analysis utilizes both government sukuk and corporate sukuk as research samples. The findings reveal that the liquidity of government sukuk is influenced by its characteristics and other macroeconomic factors. However, macroeconomic factors do not significantly impact the corporate sukuk sample. Nevertheless, factors like the Jakarta Islamic Index suggest that corporate sukuk are relatively substitutable financial assets with other assets like Shariah stocks."

"Penelitian ini secara komprehensif melihat pengaruh likuiditas dengan menggunakan proksi LOT terhadap perubahan yield di pasar keuangan Indonesia setelah mengontrol variabel-variabel umum penentu yield seperti, umur, variabilitas harga, dan faktor-faktor makroekonomi. Secara spesifik penelitian ini menggunakan sukuk sebagai unit analisa. Penelitian ini berkontribusi mengisi kekosongan studi empiris terkait pengaruh likuiditas pada perubahan yield di pasar sukuk Indonesia. Hasil estimasi menunjukan bahwa likuiditas dengan proksi LOT ?dihargai? pada perubahan yield sukuk di Indonesia. Namun, terdapat perbedaan efek ekonomis likuiditas terhadapa perubahan yield diantara sukuk negara dan sukuk korporasi. Temuan lain menunjukan bahwa periode krisis 2008 secara signifikan memengaruhi sukuk korporasi namun tidak pada sukuk negara.

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The study comprehensively examines the impact of liquidity, using proxy LOT, on yield changes in the Indonesian financial market after controlling for the common sukuk-specific (price variability and age of asset) and macroeconomic variables. In particular, we use sukuk as unit of analysis. The study contributes new empirical evidence the impact of liquidity on yield changes sukuk in Indonesia. Our Findings justify that sukuk liquidity (using proxy LOT) is priced on yield changes in Indonesia. However, there is a difference impact of liquidity on yield changes between government sukuk and corporate sukuk. The other finding shows that 2008 financial crisis significantly affect corporate sukuk but the effect statistically seems to disappear in the government sukuk.

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"Tulisan ini dibuat atas dasar kekhawatiran penulis terhadap berkembangnya persepsi tentang Islam radikal di masyarakat Indonesia. Persepsi ini menjadi penting dibahas untuk mencegah pembenaran bahwa radikalisme adalah wajah Islam sesungguhnya. Untuk itu perlu ada upaya pemurnian terhadap persepsi-persepsi yang telah melekat pada Islam. Dalam melakukan upaya pemurnian diperlukan upaya pemahaman kembali terhadap persepsi yang berkembang, hingga faktor lain yang mempengaruhi perkembangan persepsi itu. Hermeneutika menjadi pendekatan yang tepat untuk mencapai tujuan pemurnian dan melakukan upaya pemahaman kembali terhadap persepsi yang berkembang terhadap Islam. Di sini terlihat fungsi negatif dari ideologi, yaitu (1) melegitimasi kekuasaan dan (2) mendistorsi pengetahuan dan kesadaran. Penulis menggunakan pendekatan hermeneutika dari Paul Ricoeur, karena bagi Ricoeur hermeneutika tidak hanya sebagai cara pemahaman kembali, tapi menekankan fungsinya sebagai kritik ideologi. Temuan penulis bahwa adanya persepsi tentang Islam radikal karena terdapat peran dari gerakan sosial Islam radikal dan diframing oleh media massa.

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This paper is based on the author's concern about the growth perceptions of radical Islam in Indonesia. This perception becomes important to be discussed to prevent the justification that radicalism is the true face of Islam. For this reason, there needs to be an effort to purify perceptions that are inherent in Islam. In purifying efforts, it is necessary to re-understand the growth perception, to other factors that influence the growth of that perception. Hermeneutics is the right approach to achieve purification goals and make efforts to re-understand the perceptions that growth towards Islam. Here we see the negative function of ideology, namely (1) legitimizing power and (2) distorting knowledge and awareness. The author uses the hermeneutic approach of Paul Ricoeur, because for Ricoeur hermeneutics is not only a way of re-understanding, but emphasizes its function as an ideological criticism. The authors find that there is a perception of radical Islam because there is a role for radical Islamic social movements and is being framed by the mass media.

"