Culture of Islamic Economic Principles and Democracy and Welfare Based on Pancasila Ideology

Bambang Guritno (1), Ratna Sari Dewi (2), Farida Arianti (3), Andrew Shandy Utama (4), Norvadewi Norvadewi (5), Oki Anggara (6), Andiyan Andiyan (7)
(1) Master in Management, Postgraduate, Sekolah Tinggi Ilmu Ekonomi Pariwisata Indonesia, Indonesia,
(2) Accounting Department, Universitas Muslim Nusantara Al-Washliyah, Indonesia. , Indonesia,
(3) Sharia Economic Law Department, Sharia Faculty, IAIN Batusangkar, Limo Kaum, Indonesia., Indonesia,
(4) Department of Law, Faculty of Law, Universitas Lancang Kuning, Indonesia. , Indonesia,
(5) Faculty of Islamic Economics and Business, Universitas Islam Negeri (UIN) Sultan Aji Muhammad Idris Samarinda, Indonesia. , Indonesia,
(6) Department of English Language, Institut Agama Islam Negeri IAIN Pontianak, West Kalimantan, Indonesia. , Indonesia,
(7) Departement of Architecture, Universitas Faletehan, Bandung, Indonesia, Indonesia


This study aimed to obtain data from previous studies on the relevance culture of Islamic economic principles and democracy and welfare based on the Pancasila ideology. Our data search was conducted electronically on many international and national publications between 2010 and 2021. Furthermore, our data has been analyzed involving several techniques such as data analysis, interpretation, in-depth analysis of critical evaluation, and drawing conclusions that can answer the question of this study. We are looking for references between Islamic economic principles and Pancasila economics. Based on Wah and his discussion, he was surprised to find evidence of the studies developing Islamic economics and its principles, welfare, and economic democracy based on Pancasila. This is because most Muslims mutually agree upon the two sources as residents of Indonesia. Arabic language and this study are essential inputs for developing the following Islamic economics study.

Full text article

Generated from XML file


Abdi, S. H. (2012). A Comparative Analysis of Political Risks in Nigeria and Brazil. University of Johannesburg (South Africa).

Ahmad, M., & Khan, S.. (2016). A model of spirituality for ageing Muslims. Journal of Religion and Health, 55(3), 830–843.

Alatas, S. H. (2013). The Myth of the Lazy Native: A Study of the Image of the Malays, Filipinos and Javanese from the 16th to the 20th Century and Its Function in the Ideology of Colonial Capitalism. Routledge.

Ali, S., & Farrukh, F. (2013). Islamic banking: Is the confidence level of being an Islamic banking employee better than conventional banking employee? An exploratory study regarding Islamic banking. Journal of Business Studies Quarterly, 4(3), 27.

Anand, A., Walsh, I., & Moffett, S. (2019). Does humility facilitate knowledge sharing? Investigating the role of humble knowledge inquiry and response. Journal of Knowledge Management, 23(6), 1218-1244.

Andiyan, A., & Cardiah, T. (2021). Application of Contemporary Architecture in the Transfer Hub High Land Borobudur Building. Civil Engineering and Architecture, 9(7), 2353–2361.

Andiyan A., Putra, R. M., Rembulan, G. D., & Tannady, H. (2021). Construction Project Evaluation Using CPM-Crashing, CPM-PERT, and CCPM for Minimize Project Delays. Journal of Physics: Conference Series, 1933(1), 12096. IOP Publishing.

Andiyan, A., Rusmana, D., Hari, Y., Sitorus, M., Trinova, Z., & Surur, M. (2021). Disruption of IoT in Adapting Online Learning during the Covid-19 Pandemic. International Journal of Early Childhood Special Education, 13(2), 1331–1341.

Anwar, K. (2021). Pancasila Village, Multicultural Education and Moderation of Diversity in Indonesia. Nazhruna: Jurnal Pendidikan Islam, 4(2), 221–234.

Baillet, S. (2017). Magnetoencephalography for brain electrophysiology and imaging. Nature Neuroscience, 20(3), 327–339.

Baloglou, C. P. (2012). The tradition of economic thought in the Mediterranean world from the ancient classical times through the Hellenistic times until the Byzantine times and Arab-Islamic world. In Handbook of the history of economic thought, 11, 7–91.

Beckert, B., Dittrich, C., & Adiwibowo, S. (2014). Contested land: an analysis of multi-layered conflicts in Jambi Province, Sumatra, Indonesia. ASEAS-Austrian Journal of South-East Asian Studies, 7(1), 75–92.

Braun, G. G. (2017). The connection between God’s praise and God’s presence a biblical study. North-West University (South Africa), Potchefstroom Campus.

Cardiah, T., Andiyan, A., & Rahma, A. (2021). Implementation of Health Protocols at Mosques during the Covid-19 Pandemic in the city of Bukittinggi. Review Of International Geographical Education, 11(5), 3765–3771.

Choudhury, M. A. (2018). Tawhidi Islamic economics in reference to the methodology arising from the Qurʾān and the Sunnah. ISRA International Journal of Islamic Finance. 10(2), 263-276.

Dahl, R. A., & Lindblom, C. E. (2017). Politics, economics, and welfare. Routledge.

Damayanti, S. M., & Anwar, D. (2018). Is Rights Issue Will Raising the Stock Price of PT Nippon Indosari Corpindo Tbk?. Jurnal Keuangan Dan Perbankan, 22(3), 267394.

Darmawan, M. Y. (2020). Iwan Fals, Music, and the Voice of Resistance. I-Pop: International Journal of Indonesian Popular Culture and Communication, 1(1), 41–62.

Diepeveen, A. D. (2018). Speaking about Indonesian economic development. University of Copenhagen.

Djakfar, M. (2019). Revitalization and Actualization of Religious Values to Realize Civilized Wasathiyah Economy. 2018 International Conference on Islamic Economics and Business (ICONIES 2018), 149–153. Atlantis Press.

Doling, J., Vandenberg, P., & Tolentino, J. (2013). Housing and housing finance-A review of the links to economic development and poverty reduction. Asian Development Bank Economics Working Paper Series, (362).

Ebrahimi, M. (2017). Islamic identity, ethical principles, and human values. European Journal of Multidisciplinary Studies, 2(6), 325–336.

Eby, J., Iverson, E., Smyers, J., & Kekic, E. (2011). The faith community’s role in refugee resettlement in the United States. Journal of Refugee Studies, 24(3), 586–605.

Emerson, R. (2013). From empire to nation. In From Empire to Nation. Harvard University Press.

Fios, F., & Sudirman, A. (2020). The Praxis of Sustainability Development in the Ideology of Pancasila: Ecological Insights from Indonesia. Praxis, 14(3), 173-184.

Ghofur, A., Susilo, S., Soedarto, J. P. H., Tembalang, S. H., & Tembalang, K. S. (2017). Maslaha as the philosophical, political, and legal basis on the Islamic banking legislation in Indonesia. Global Journal Al Thaqafah, 7(1), 7–17.

Goldstein, J. (2019). Ideas, interests, and American trade policy. In Ideas, Interests, and American Trade Policy. Cornell University Press.

Grassa, R. (2013). Shariah supervisory system in Islamic financial institutions: New issues and challenges: A comparative analysis between Southeast Asia models and GCC models. Humanomics, 29(4), 333-348.

Hackworth, J. (2014). The limits to market-based strategies for addressing land abandonment in shrinking American cities. Progress in Planning, 90, 1–37.

Hall, J. A. (2013). The importance of being civil. Princeton University Press.

Hamzah, S., Yussof, M. H. B., & Enriquez, A. A.. (2020). Togetherness in the Diversity of the Pancasila Ideology Frame. Journal of Social Work and Science Education, 1(1), 8–12.

Hartati, S. (2021). The Concept of Populist Economy based on Transcendental Law. LEGAL BRIEF, 10(2), 131–139.

Hayat, A. (2018). Promoting behavior-based safety with Islamic principles: Menggalakkan keselamatan berasaskan tingkah laku dengan prinsip Islam. Al-Irsyad: Journal of Islamic and Contemporary Issues, 3(1), 50–66.

Hendrickx, F. (2012). Foundations and functions of contemporary labour law. European Labour Law Journal, 3(2), 108–129.

Hidayat, H. (2020). JUSTICE DIALEKTICS IN WEST, ISLAM AND INDONESIA PERSPECTIVES. Meraja Journal, 3(1), 103–119.

Husnatarina, F., Arafah, M.., Andiyan, A., Azmi, Z., Suzana, Y., & Hartati, A. (2022). The Influence of Investor Intrinsic Motivation on Islamic Stock Investment Decision Making BT - Proceedings of the International Conference on Social, Economics, Business, and Education (ICSEBE 2021). 39–41.

Hynek, N., & Marton, P. (2016). Statebuilding in Afghanistan. Routledge.

Ibrahim, N. A. (2018). Accounting for the Soul: Improvisational Islam in Democratic Indonesia. Anthropological Quarterly, 91(3), 1001–1028.

Idri, I., & Baru, R. (2017). The principles of Islamic economics and their implementation in Indonesia. International Journal of Academic Research in Business and Social Sciences, 7(4), 331–344.


Jamal, M. A. (2015). The “tiering” of citizenship and residency and the “hierarchization” of migrant communities: The United Arab Emirates in historical context. International Migration Review, 49(3), 601–632.

Kamla, R., & Alsoufi, R. (2015). Critical Muslim Intellectuals’ discourse and the issue of ‘Interest’(ribā): Implications for Islamic accounting and banking. Accounting Forum, 39(2), 140–154.

Kuran, T. (2010). Islam and mammon. In Islam and Mammon. Princeton University Press.

Kusuma, P. S. (2018). Evaluating Development Planning Deliberation (the Musrenbang) as a Participatory Budgeting Practice in Indonesia. Ritsumeikan Asia Pacific University.

Latif, Y. (2018). The Religiosity, nationality, and sociality of Pancasila: Toward Pancasila through soekarno’s way. Studia Islamika, 25(2), 207–245.

McDaniel, J. (2013). A modern Hindu monotheism: Indonesian Hindus as ‘people of the book.’ The Journal of Hindu Studies, 6(3), 333–362.

McNeill, W. H. (2019). Polyethnicity and national unity in world history. In Polyethnicity and National Unity in World History. University of Toronto Press.

Mohammed, N. F., Ahmad, A. E., & Fahmi, F. M. (2016). Accounting standards and Islamic financial institutions: The Malaysian experience. Journal of Islamic Banking and Finance, 4(1), 33–38.

Mu’ti, A., & Burhani, A. N. (2019). The limits of religious freedom in Indonesia: with reference to the first pillar Ketuhanan Yang Maha Esa of Pancasila. Indonesian Journal of Islam and Muslim Societies, 9(1), 111–134.

Mulgan, T. (2014). Ethics for a broken world: Imagining philosophy after catastrophe. Routledge.

Munn, Z., Peters, M. D. J., Stern, C., Tufanaru, C., McArthur, A., & Aromataris, E. (2018). Systematic review or scoping review? Guidance for authors when choosing between a systematic or scoping review approach. BMC Medical Research Methodology, 18(1), 1–7.

Nguyen, T. K., & Razali, M. N. (2020). The dynamics of listed property companies in Indonesia. Journal of Property Investment & Finance, 38(2), 91-106.

Nitisastro, W. (2011). The Indonesian development experience. In The Indonesian Development Experience. ISEAS Publishing.

Nurdin, M. R. (2018). Religion and social capital: Civil society organisations in disaster recovery in Indonesia. UNSW Sydney.

Okoli, C., & Schabram, K. (2010). A guide to conducting a systematic literature review of information systems research. SRRN, 879-910.

Piscatori, J., & Eickelman, D. F. (2018). Muslim politics. Princeton University Press.

Priemer, B., Eilerts, K., Filler, A., Pinkwart, N., Rösken-Winter, B., Tiemann, R., & Zu Belzen, A. U. (2020). A framework to foster problem-solving in STEM and computing education. Research in Science & Technological Education, 38(1), 105–130.

Rahaman, M. A., Ali, M. J., Wafik, H. M., Mamoon, Z. R., & Islam, M. M. (2020). What Factors Do Motivate Employees at the Workplace? Evidence from Service Organizations. The Journal of Asian Finance, Economics, and Business, 7(12), 515–521.

Ramadhan, S. (2020). Islamic Law, Politics And Legislation: Development Of Islamic Law Reform In Political Legislation Of Indonesia. ADHKI: Journal of Islamic Family Law, 2(1), 63–76.

Ramadhani, N. R. (2017). The thought of Monzer Kahf about the principle of socio-economic justice in zakah. Universitas Islam Negeri Maulana Malik Ibrahim.

Ribot, J. (2014). Cause and response: vulnerability and climate in the Anthropocene. The Journal of Peasant Studies, 41(5), 667–705.

Ridwan, M., Umar, H., & Harun, H. (2021). Study on Human Rights Principles in The Medina Charter and its Implementation In Indonesia. Indonesian Journal of Social Science Research, 2(2), 52–64.

Roberts, M. R., & Whited, T. M. (2013). Endogeneity in empirical corporate finance1. Handbook of the Economics of Finance, 2, 493–572. Elsevier.

Rönnebeck, S., Bernholt, S., & Ropohl, M. (2016). Searching for a common ground–A literature review of empirical research on scientific inquiry activities. Studies in Science Education, 52(2), 161–197.

Rosyidah, M., Khoirunnisa, N., Rofiatin, U., Asnah, A., Andiyan, A., & Sari, D. (2022). Measurement of key performance indicator Green Supply Chain Management (GSCM) in palm industry with green SCOR model. Materials Today: Proceedings, 63(1), 326-332.

Rüpke, J. (2011). A companion to Roman religion. John Wiley & Sons.

Rutherford, D. (2021). Raiding the Land of the Foreigners. In Raiding the Land of the Foreigners. Princeton University Press.

Singleton, A. (2012). Beyond heaven? Young people and the afterlife. Journal of Contemporary Religion, 27(3), 453–468.

Sinha, M. (2016). The Slave’s Cause. In The Slave’s Cause. Yale University Press.

Snyder, H. (2019). Literature review as a research methodology: An overview and guidelines. Journal of Business Research, 104, 333–339.

Solissa, A. B. (2020). The Reactualization of the Pancasila Values in the Light of Perennial Philosophy. ESENSIA: Jurnal Ilmu-Ilmu Ushuluddin, 21(1), 49–70.

Stawicki, S. P., Jeanmonod, R., Miller, A. C., Paladino, L., Gaieski, D. F., Yaffee, A. Q., De Wulf, A., Grover, J., Papadimos, T. J., & Bloem, C. (2020). The 2019–2020 novel coronavirus (severe acute respiratory syndrome coronavirus 2) pandemic: A joint american college of academic international medicine-world academic council of emergency medicine multidisciplinary COVID-19 working group consensus paper. Journal of Global Infectious Diseases, 12(2), 47.

Sudrajat, T. (2018). Harmonization of regulation based on pancasila values through the constitutional court of Indonesia. Const. Rev., 4, 301.

Sulandjari, K., Putra, A., Sulaminingsih, S., Adi Cakranegara, P., Yusroni, N., & Andiyan, A. (2022). Agricultural extension in the context of the Covid-19 pandemic: Issues and challenges in the field. Caspian Journal of Environmental Sciences, 20(1), 137–143.

Tjipto, S., & Bernardo, A. B. I. (2019). Constraints in the meanings of lay theories of culture in a culturally homogeneous society: A mixed-methods study on multiculturalism and polyculturalism in Wonosobo, Indonesia. Cogent Psychology, 6(1), 1569835.

Wade, R. (2018). Governing the market. In Governing the Market. Princeton University Press.

Willis, P. E. (2014). Profane culture. In Profane Culture. Princeton University Press.


Bambang Guritno
Ratna Sari Dewi (Primary Contact)
Farida Arianti
Andrew Shandy Utama
Norvadewi Norvadewi
Oki Anggara
Andiyan Andiyan
Author Biographies

Bambang Guritno, Master in Management, Postgraduate, Sekolah Tinggi Ilmu Ekonomi Pariwisata Indonesia

Bambang Guritno is a lecturer at Department of Management, Indonesian College of Tourism Economics (STIEPARI) Semarang. His last educational background is doctoral program from Airlangga University. His research expertise is in the field of management.

Ratna Sari Dewi, Accounting Department, Universitas Muslim Nusantara Al-Washliyah, Indonesia.

Ratna is a lecturer at Accounting Department Al-Washliyah Nusantara Muslim University. Her last educational background is postgraduate program from University of North Sumatra. Her research expertise is in field of Accounting.

Farida Arianti, Sharia Economic Law Department, Sharia Faculty, IAIN Batusangkar, Limo Kaum, Indonesia.

Farida is a lecturer at Department of Sharia Economic Law Muamalah, IAIN Batusangkar. Her last educational background is doctoral program from Imam Bonjol State Islamic University Padang. Her research expertise is in the field of Sharia Economic Law.

Andrew Shandy Utama, Department of Law, Faculty of Law, Universitas Lancang Kuning, Indonesia.

Andrew is a lecturer at Department of Law Lancang Kuning University. His last educational background is postgraduate program from Riau Islamic University. His research expertise is in the field of Business Law.

Norvadewi Norvadewi, Faculty of Islamic Economics and Business, Universitas Islam Negeri (UIN) Sultan Aji Muhammad Idris Samarinda, Indonesia.

Norvadewi is a lecturer at Department of Sharia Business Management, UIN Sultan Aji Muhammad Idris Samarinda. Her last educational background is postgraduate program from Islamic University of Indonesia. Her research expertise is in the field of Islamic Economics.

Oki Anggara, Department of English Language, Institut Agama Islam Negeri IAIN Pontianak, West Kalimantan, Indonesia.

Oki is a lecturer at Institut Agama Islam Negeri Pontianak. His last educational background is postgraduate program from University of Indonesia. His research expertise is in the field of Civic Education, Nationalism, Civic Media and Youth Civic Engagement.

Andiyan Andiyan , Departement of Architecture, Universitas Faletehan, Bandung, Indonesia

His Educational history is a Master of Civil Engineering and Bachelor of Architectural Engineering degrees at Bandung. He is now a professor at a university in Bandung, as well as a practitioner and an architect. He concentrates heavily on architectural design, utilities, construction management, and interiors in his lectures. Numerous studies on architectural design, green architecture, building technology, construction management, and project management techniques.

Guritno, B., Dewi, R. S., Arianti, F., Utama, A. S., Norvadewi, N., Anggara, O., & Andiyan , A. (2023). Culture of Islamic Economic Principles and Democracy and Welfare Based on Pancasila Ideology. Journal of Intercultural Communication, 23(1), 55–65.

Article Details

Smart Citations via scite_
  • Abstract 1882
  • Download PDF 422
  • XML 0

Most read articles by the same author(s)