Otoritas Jasa Keuangan (OJK) found that the poor and low income people were reluctant to join as insurance participants. OJK has conducted many socialization activities about microinsurance for low-income people which aimed to increase their literacy of insurance. SMES (Sederhana – Mudah – Ekonomis – Segera) services aim to increase insurance inclusion. The study aims to propose a model of value-based service on microtakaful. The service refers to SMES (Sederhana – Mudah – Ekonomis – Segera) and Maslahah Performa value. SMES value to explain the value expected by takaful participants. Maslahah performa to explain the fulfillment of needs to sharia demands by takaful operator. The SMES variable is developed into various sub variables according to SEOJK. Maslahah performa is elaborated to get worship orientation variables and internal process orientation which then be developed into various sub variables. The subvariable weight is determined according to the importance level of each sub variable. The research finds that a value-based microtakaful service model can be derived from the SMES approach and maslahah performa. There is a linkage between the value-based microtakaful service according to participant expectation and spirituality and sustainability. The reasearch will contribute to increase literacy of microinsurance

Islamic Waqif has an important role as one of the instruments in the economic empowerment of the people. In history, awqf played an important role in the development of social, economic and cultural life of the people. Both laws and regulations in the form of Law No. 41 of 2004 and Government Regulation No.42 of 2006 regulating the interests of worship, education, social and more important are the interests of the people's economic welfare.

       This study has a general purpose to formulate productive awqf management strategies in Indonesia, with specific objectives as follows: a.Identify constraints in developing productive awqf in Indonesia; b. Formulate productive awqf management strategies in Indonesia as literacy efforts in the field of da'wah in the community.

       Research examines the factors that influence the productive awqf management in Indonesia, through interviews of experts and regulators. Then analyze the policy. With the ANP and SWOT methods, that found the Strengths factors are Regulations / Laws and the largest Muslim population in the world. While Weaknesses are a lack of socialization and traditional mindset about awqf. Elements in the SWOT method, which is an opportunity to develop awqf (Opportunity) is the collection of endowments as the main element of worship and Professionalism in managing waqif funds. And the    Threats in waqif management are materialistic lifestyle (hedonism) and non-Islamic education patterns. It is expected that the results of this study can provide input to the Regulators (Government and Legislature), Academics, Wakif and the Community beneficiaries of the awqf itself.

This research aims to develop the implementation cycle of performance management based on benefit (maslahah performance). Maslahah performance consists of 6 orientation namely worship orientation, internal process orientation, learning orientation, talent orientation, customer orientation and wealth orientation. The study was conducted through in-depth literature study of previous research related to the concept of maslahah, the performance management system of maslahah, the balanced scorecard (BSC) and the quality management system. Research shows that maslahah performance can be applied with the foundation of PDCA cycle that is Plan - Do - Check - Action. The Plan step is developed into 5 steps: strategic planning, identifying the safety foundation, determining the maslahah behavior, determining the size and agreeing the performance contract. Step Do is developed into steps to implement performance. Check step was developed into a monitoring step. Action Steps are developed into follow-up steps

zakat pada BAZNAS saat ini dengan dijabarkan dalam model Business Model Canvas (BMC) adalah mencakup sembilan elemen BMC; muzakki yang membayarkan zakatnya ke BAZNAS mencakup muzakki individu dan muzakki perusahaan. BAZNAS memberikan kepada para muzakki kartu muzakki  yang disebut Nomor Pokok Wajib Zakat (NPWZ). Terdapat konter khusus untuk menerima zakat. Layanan muzakki pada BAZNAS juga memungkinkan bagi muzakki untuk melakukan konsultasi mengenai zakat. Dana zakat yang terhimpun adalah dana amanah yang bukan menjadi miliknya. Sehingga pengelolaannya harus disesuaikan dengan ketentuan yang telah ada dalam syariah. Strategi penghimpunan zakat pada BAZNAS meliputi peningkatan kerja sama dengan berbagai instansi swasta dan pemerintah termasuk dengan mengadakan berbagai seminar dan workshop mengenai zakat. BAZNAS juga dapat menyalurkan beasiswa kepada perguruan tinggi khususnya pada prodi zakat. Disamping itu, konter layanan zakat perlu ditambah di berbagai lokasi strategi. BAZNAS juga dapat menjaring muzakki dari kalangan petani. BAZNAS dituntut untuk mengembangkan ICT dalam pengelolaan zakatnya.

This study aims to investigate the drivers of loyalty in Indonesian Islamic banks, especially group of depositor vs financing customer and single vs dual customer., The objectives of this study were the seven major commercial Indonesian Islamic banks using the purposive sampling technique. In total, 105 questionnaires were processed, consisting of questions regarding depositors, financing, single and dual customer. Structural equation modeling using partial least squares were the analysis methods used to test the hypothesis, while in-depth interviews were conducted with Islamic bank managers to validate the findings., Image has a significant relationship with customer satisfaction, as well as trust. Similarly, customer satisfaction has a significant relationship with trust. Trust has a significant relationship with loyalty. For a financing customer, the image is very influential on customer trust. For a depositor customer, customer satisfaction is very influential on customer trust. For single customer, customer satisfaction has a stronger influence on the image, compared to dual customer., Islamic banks need to maintain good image and service quality to create strong, reliable and long-term relationships with customers, more specifically, in terms of improvement and product innovation. A bank focuses on the micro or macro segment, as well as financing. Financing products should be referred to customers’ needs. Bank reputation can be done by strengthening branding and corporate culture in marketing strategy. Shariah compliance has the highest loading factor to trust customers. Indonesian Islamic banks need to maintain customer trust by sticking to Islamic principles and continuing to ensure that its products and services are in accordance with Islamic principles. In Indonesian Islamic banks, it is very important to keep the legal aspects in all of products and services. Deposit products and services of Islamic banks should be in line with the rules of the financial services authority and Bank of Indonesia culture. Bank efforts to strengthen reputation can be done by strengthening branding and corporate culture in marketing strategy, while increasing the attractiveness of the products by way of research and development (R&D) must endeavor to make products and services attractive in terms of both product characteristics and price. Furthermore, it is necessary to support a good marketing strategy to market their products., Research can be used more widely in determining public policy, by strengthening the marketing strategy and public education. Islamic banks can work together with local religious departments to maximize marketing strategies to educate and convince people to be active economically under Islamic sharia guidance. Islamic banks need to maintain customer trust by sticking to the principles of sharia and continuing to ensure that products and services conform to sharia principles. Islamic bank management can strengthen customer trust by having a good risk management system, so that customers feel secure with Islamic bank transactions. In addition, sharia banks as companies must demonstrate social responsibility by distributing ZIS managed from customers and implementing CSR as a form of awareness of the surrounding community., The study revealed the factors that lead to loyalty on the financing, depositor and the single and dual customers. The study found that improvement and innovation, strategic and sustainability are new indicators used to build images of Islamic banks.

Buku ini menjelaskan bahwa konsep mas}lah}ah d}aru>riyah yang terdiri dari terjaga dan terpeliharanya agama (h}ifz}u ‘ala al-di>n), terjaga dan terpeliharanya jiwa (h}ifz}u ‘ala al-nafs), terjaga dan terpeliharanya keturunan (h}ifz}u ‘ala al-nasl), terjaga dan terpeliharanya akal (h}ifz}u ‘ala al-‘aql) dan terjaga dan terpeliharanya harta (h}ifz}u ‘ala al-ma>l), dapat dijadikan dasar bagi pengembangan sistem manajemen kinerja organisasi. Secara akademis, buku ini mendukung pendapat beberapa peneliti yaitu Sen (1992), Mubyarto (1997), Gardiner (2002), Swasono (2003) dan Chapra (2007) yang menyatakan bahwa etika, moral dan akuntabilitas sosial memegang peranan penting bagi kelanggengan pembangunan ekonomi. Kandungan buku menjelaskan bahwa etika, moral, akuntabilitas sosial adalah fondasi kemaslahatan. Adapun kelanggengan kemanfaatan organisasi di dunia dan akhirat merupakan indikator tercapainya kinerja kemaslahatan organisasi. Pencapaian di atas dapat terwujud dengan menyelaraskan pengelolaan organisasi terhadap tugas manusia sebagai khalifah Allah di bumi (Bung Hatta dalam Swasono, 1992), Khan (1994), Chapra (2007).

Otoritas Jasa Keuangan (OJK) found that the poor and low income people were reluctant to join as insurance participants. OJK has conducted many socialization activities about microinsurance for low-income people which aimed to increase their literacy of insurance. SMES (Sederhana – Mudah – Ekonomis – Segera) services aim to increase insurance inclusion. The study aims to propose a model of value-based service on microtakaful. The service refers to SMES (Sederhana – Mudah – Ekonomis – Segera) and Maslahah Performa value. SMES value to explain the value expected by takaful participants. Maslahah performa to explain the fulfillment of needs to sharia demands by takaful operator. The SMES variable is developed into various sub variables according to SEOJK. Maslahah performa is elaborated to get worship orientation variables and internal process orientation which then be developed into various sub variables. The subvariable weight is determined according to the importance level of each sub variable. The research finds that a value-based microtakaful service model can be derived from the SMES approach and maslahah performa. There is a linkage between the value-based microtakaful service according to participant expectation and spirituality and sustainability. The reasearch will contribute to increase literacy of microinsurance.

This research generally describes the application of performance measurement in Baitul Maal wat Tamwil (BMT) based on orientation to benefit all stakeholders (stakeholders & shareholders), but studies that specifically measure aspects of the methodology for implementing performance measurement are still limited. Therefore, Maslahah Performa is used as an instrument in the application of performance measurement in BMT Umat Mandiri. The study aims to determine the implementation of performance measurement Maslahah Performa issues on BMT Umat Mandiri. Knowing the results of the analysis of the application of process performance measurement and benefit-based performance results in BMT Umat Mandiri. The methodology used in this study is qualitative and quantitative research methods with case study design. The research findings indicate that six benefit orientations exist in BMT Umat Mandiri. These orientations include worship, internal processes, talents, learning, customers, and property. The six orientations found in this research have a foundation of benefit in realizing strategic objectives for the achievement of benefit. BMT Umat Mandiri has a process performance of 0,400 and performance results of 0,656 which means that BMT Umat Mandiri provides less benefit to stakeholders.

Purpose – The study aims to determine the role of trust, image and customer satisfaction in improving customer loyalty to Islamic banks. Research examined new indicators related Islamic banks to conventional banks. Study also analyzed differences in the loyalty of two groups of observation, deposan and financing, loyal customer and dual customer. Design/methodology/ approach – The study consisted of 3 stages: in-depth study of literature, interview and survey. The unit of analysis is seven major Indonesin Islamic Banks: Bank Muamalat, Bank Syariah Mandiri, BNI Syariah, etc. The analysis methods used in testing the hypothesis is Structural Equation Modeling by using Partial Least Square. Findings – Customer trust has positive and significant impact to develope customer loyalty. Both Image and customer satisfaction significantly influence on building customer trust. Image also has a significant effect on increasing customer satisfaction. The new indicator for image, improvement and innovation as well as strategic and sustainability proved to be valid and reliable in measuring the image of Islamic banks. The new indicator for trust, legal compliance proven valid and reliable in measuring customer trust dimension. Research also shows differences loyalty between groups of depositor customer and financing customer.

This study aims to analyze the influence of Total Quality Management (TQM) implementation to competitive advantage and company’s performance, especially to small and medium manufacturing company. Using Partial Least Square (PLS) tested the hypothesis of Structural Equation Modelling (SEM). There is significant influence between TQM implementation to competitive advantage. Likewise with a competitive advantage to the company’s performance there is significant influence. But there is no significant influence directly between TQM to the company’s performance. The study discusses about the implementation of TQM in small and medium manufacturing companies. In the practice, implementation of TQM in small and medium manufacturing companies are not as smooth as the large manufacturing company

The Muslim population of Indonesia in 2010 reached 207 million, while the number of poor people reached 27,76 million. On the other hand, Indonesia is prone to natural disaster. By 2015 there are 16,830 villages hit by floods, 3,827 villages experiencing earthquakes, and 7,861 villages experiencing landslides. It is important for Indonesian people to pool fundraising to help each other (ta'awun). One of the schemes is through the microtakaful program. The next issue is the inability of the poor Indonesian to pay a pooling fund. The research is conducted with the aim to analyze the appropriate model of microtakaful in Indonesia using infaq/sadaqah and zakah fund as an alternative payment of subsidy of microtakaful contribution. The research is conducted with several methods, namely the study of indepth literature on the utilization of infaq/sadaqah and zakah fund. The proposed models of utilization of infaq/sadaqah and zakah fund to subsidy ta’awun fund, validate the model through interviews to experts, practitioners and fund managers, process the data through Analytic Network Process (ANP), and determine the best model in utilizing infaq/sadaqah and zakah fund to subsidy ta’awun fund. Fund management model to become the object of research are microtakaful model and subsidy fund from the government model. The study shows that: Firstly, Ta'awun's fundraising in Indonesia is in line with the shariah objectives of protecting the soul, protecting religion, protecting intellect, protecting wealth, and protecting progeny. Secondly, the microtakaful model implemented in Indonesia is a microtakaful model by institution independently, a microtakaful model with a subsidy from infaq/sadaqahfund, a microtakaful model with a subsidy from zakah funds, ta’awun fund management model with a subsidy from the government and microtakaful model with a subsidy from other institution. Third, an important component in microtakaful is aqad, participant, underwriting process, investment, donor party and facility needs. The proper aqad in ta’awunfundraising is mudharabahmusytarakah.The simple Underwriting process is required. Parties that act as donors are zakah institution and government. Participants as beneficiaries of the contribution are poor and needy.

Purpose – The purpose of the study is twofold: first, it is to develop each aspect of ma
sla
hah
darūriyah (essential needs), i.e. dīn (faith/religion), nafs (soul), ʿaql (intellect), na
sl (descendants) and mal (wealth), into various aspects of organisational essential needs; second, it is to formulate ma
sla
hah-based performance measurement. Design/methodology/approach – The research is an exploratory study that uses a two-stage design: defining the research question and developing the research design. The research question is how each element of ma
sla
hah
darūriyah can become an element of organisational essential needs. The research design developed is to formulate ma
sla
hah-based performance measurement. Findings – The study concludes that ma
sla
hah
darūriyah could be developed as a basis for identifying organisational essential needs. The five elements of ma
sla
hah
darūriyah are developed into the following organisational essential needs: worship orientation, internal process orientation, talent orientation, learning orientation, customer orientation and wealth orientation. Ma
sla
hah-based performance measurement uses five variables: strategic objective, measure, formula, target and strategic initiatives and applies the modified plan – do – check – action cycle: performance planning, performance implementation, performance evaluation and performance action. Practical implications – Organisational essential needs can be developed by Islamic financial institutions (IFIs) into performance measurement. IFIs have six essential needs that can be developed into performance variables. Key performance indicators that can be developed for each need are worship orientation (social responsibility, regulatory compliance and Sharīʿah compliance); internal process orientation (innovation process, digital adaptation and employee satisfaction); talent orientation (career development, talent pool, compensation and benefits); learning orientation (training programme, training evaluation and return on training investment); customer orientation (customer engagement, customer satisfaction, customer survey and promotion programme); wealth orientation (profitability, cost-cutting, share prices, dividends, cost efficiency and financial sustainability). Originality/value – This paper contributes to new knowledge. The study attempts to discuss the organisational essential needs based on the ma
sla
hah
darūriyah concept, while previous studies discussed organisational needs based on Maslow’s hierarchy of needs. In developing performance measurement, organisational performance is measured in a balanced manner. According to the concept of ma
sla
hah, not only financial factors but also worship, internal processes, talents, learning and customers define © Achmad Firdaus. Published in ISRA International Journal of Islamic Finance

This study aims to analyze the criteria for investing in Hajj funds and alternative investments that provide benefits to Muslims so that they have an impact on economic growth. By using the Analytic Network Process (ANP) approach, alternative investments offered are Infrastructure, Property, Financial Sector, and Real Sector. Data were collected using a questionnaire consisting of pairwise comparisons between groups and their assessment indicators. A total of 7 (seven) expert speakers (experts) who became respondents successfully collected and processed using the ANP method. The results showed that investment in infrastructure and the real sector provides benefits to Muslims economically, so as to improve the welfare of Muslims which in turn can encourage economic growth.

Kinerja bisnis berbasis syariah yang diukur dengan sistem pengukuran kinerja konvensional cenderung memperoleh hasil bias. Penelitian ini dilakukan untuk mengukur kinerja bisnis berbasis syariah dengan menggunakan sistem pengukuran kinerja berbasis maqasid al-shariah yaitu maslahah scorecard (MaSC). Pengukuran diterapkan melalui dua kegiatan: pengukuran kinerja proses, yaitu dengan membandingkan kinerja bisnis terhadap standar MaSC, dan pengukuran kinerja hasil, yaitu dengan membandingkan pencapaian target setiap orientasi kemaslahatan terhadap target kemaslahatan yang ditetapkan. Rentang kinerja hasil MaSC adalah dari 0,000 (bisnis tidak memberikan kemaslahatan) sampai 1,000 (bisnis memberikan kemaslahatan). Hasil penelitian menunjukkan bahwa kinerja hasil PT Asuransi Takaful Keluarga (ATK) adalah sebesar 0,691 yang berarti PT ATK cukup memberikan kemaslahatan. Nilai didapat dari orientasi ibadah 0,110, orientasi proses internal 0,166, orientasi tenaga kerja 0,083, orientasi pembelajaran 0,166, orientasi pelanggan 0,083, dan orientasi kekayaan 0,083. Rentang kinerja proses MaSC adalah dari 0,000 (bisnis tidak menerapkan MaSC) sampai 1,000 (bisnis menerapkan MaSC secara penuh). Kinerja proses PT. ATK adalah sebesar 0,666 yang berarti PT ATK telah menerapkan MaSC tetapi belum penuh. Nilai didapat dari proses mengidentifikasi fondasi kemaslahatan 0,111, mendapatkan perilaku kemaslahatan 0,111, menentukan sasaran strategis 0,111, menentukan ukuran maslahah 0,111, menetapkan target 0,000, menentukan inisiatif strategis 0,111, melakukan pengukuran kinerja 0,111, melakukan evaluasi hasil 0,00, dan melakukan perbaikan dan peningkatan 0,000.

Muslims are encouraged to plan their lives economically and financially in order to achieve the objectives of Shariah. The intention to conduct Islamic economical and financial planning must be aligned with the application of Maqasid Shariah, which emphasizes on the protection of essential needs of Muslims that include preservation of wealth. Furthermore, goal of wealth management is to achieve falah. Objective of wealth management is to get maslahah. Maslahah based wealth management can be derived from cycle of acquiring and utilizing wealth (Firdaus, 2014). Acquiring wealth can be carried out by fullfilling worship orientation, internal process orientation, talent orientation, learning orientation, customer orientation and wealth orientation. Utilizing wealth can be carried out by allocating asset to wealth orientation, customer orientation, learning orientation, talent orientation, internal process orientation, worship orientation. This study proposes the framework of Maslahah Performa as wealth management system in order to highlight its contribution to more comprehensive, rational and realistic answers to contemporary public policy issues in Islamic economic system and to thereby increase awareness of Maslahah Performa approach in structuring and developing public policy products. For this purpose, the authors examine the position of the Maslahah Performa concept in public policy. They also present the essential elements of Maslahah Performa and explain how this approach may contribute to better solutions for various public policy issues and challenges.