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.

The aims of this study are to understand the causes and impacts of consumerism on personal finance and find the solution to this problem by using Islamic wealth management. By using thematic analysis this study reviewing consumerism from the perspective of personal finance in Islamic wealth management approach. This study found that the causes of consumerism involve both external and internal factors. The impacts of consumerism on personal finance are the debt trap, no productive and charity allocation. An exact number of maximum consumption cannot be set for every individual or family, but they are all agreed that allocating income should be based on the right priority scale. The second finding is we propose Islamic Wealth Management (IWM) approaches in reducing the problem of Consumerism.

This study aims to analyze the effect of work environment, compensation and religiosity on turnover intention of Islamic Banking employees in Indonesia. The questionnaire was filled out by 209 employees of Islamic banks in Indonesia and the data obtained was processed using Structural Equation Modeling (SEM) method with SmartPLS software version 3.2. Work environment and compensation negatively affect turnover intention. Religiosity is the only variable that posit ively influences turnover intention. This paper is one of the pioneer research in the field of Human Resource Development (HRD) focusing on the matter of turnover intention which combining three independent variables (work environment, compensation and religiosity) with at least 50% Islamic Banks in Indonesia took place as samples. This research is expected to benefitting management in Islamic banking so they could establish proper strategic policy in the field of employment, especially those related to turnover intention to control employee turnover rate in order to improve the performance of Islamic banking in Indonesia in the future.

The study aims to determine the effect of Collectivism, Eco-Literacy, Green Advertising, Spirituality and Environmental Concern on the intention to buy environmentally friendly products All Fresh on Indonesian Muslim consumers. The research consisted of three stages namely the study of literature. Then a field study was conducted by distributing questionnaires to 270 respondents. The analysis method used is Structural Equation Modeling (SEM) using AMOS. The results showed that the variables Collectivism, Eco-Literacy, Green Advertising and Spirituality showed a significant and positive effect on Environmental Concern. Furthermore, these variables show a significant and positive relationship to the attitude toward green products (ATGP) of Indonesian Muslim consumers.

This study aims to analyze the determinants of millennial employees’ decisions in the Provinces of DKI Jakarta and West Java on the payment of zakat on income and services. The study analyzed the behavioral variables of millennial employees which included zakat literacy, the influence of social media and religiosity and the characteristic factors of millennial employees which included: muzakki education level, type of institution where zakat was paid, frequency of zakat payments, and experience in zakat as factors for millennial employees in doing decision to pay zakat on income and services. The millennial working population is represented by residents aged 20 - 39 years. The distribution of questionnaires is done through Google forms. Respondents who filled out the questionnaire were 400 persons whom 64 people of them live in DKI Jakarta Province and 64 people of them live in West Java Province. Data analysis using SEM PLS. The decision to pay zakat on income and services among millennial employees in DKI Jakarta Province and West Java Province is influenced by social media and religiosity factors. Information about zakat on social media is believed to be valid by the millennial generation so that it becomes a determining factor in paying zakat on income and services. Another factor that determines the millennial generation in paying zakat on income and services is the literacy aspect, namely understanding the amount of zakat and the terms in zakat, mustahik, muzakki, amil, nishab. Furthermore, millennials who regularly follow studies on Islam tend to pay more attention to paying zakat on income and services. Thus, the aspect of religiosity becomes one of the determining factors. Then the decision to pay zakat on income and services among millennial employees is also influenced by factors of education level, type of zakat payment preference institution, frequency of zakat payment, and experience in zakat. Where the higher the education, the higher the ability to pay zakat and trust in zakat management institutions/institutions are also believed to be factors for millenials as muzakki to pay zakat. Then the frequency of zakat payments that have been made and experience in paying zakat are believed to have an influence in the decision to pay zakat on income and services.

Research on funeral funds on a homeowner association has never been performed before. Meanwhile, previous studies on the funeral fund in insurance companies, 'rukun kematian,' and mosques are used as a reference. The research aims to analyze whether the funeral funds managed by informal institutions correspond with the micro takaful principle. Method is a descriptive analysis is used by comparing the survey in two groups, namely residential and village areas, of 31 communities spread across Java Island. The research variables developed include calculation, collection method, and amount of funeral fund contribution, alongside the calculation and amount of benefits. Although the funeral funds' variables have not fulfilled the micro takaful principle, there are interesting findings. These include that the calculation of contribution for the two groups, namely the residential and village areas, is performed by mutual agreement through community deliberations. In the village, the collection method is by direct payment from members of the public to the officers, which is different from the residential areas, where it is picked up by the officers. Furthermore, the amount of funding contributions to the community in the villages is around Rp. 3.001 and Rp. 5,000, while the total is over Rp. 10,000 in residential areas. The informal funeral funding scheme (IFFS) has become a mutually beneficial culture of Indonesian society, which fosters strong humanity and brotherhood. This scheme can be formulated in micro-takaful cooperatives to ensure that the benefits trickle down for every member of the community, including Muslims and non-Muslims.

The study aims to develop Maslahah Performa (MaP) as methodology of wealth management system. MaP is maqasid al-shari’ah based organizational performance management system (Firdaus & Mukhlis, 2014). The objective of shariah (maqasid alshari’ah) is to protect and preserve: religion, life, progency, intellect and wealth, could be developed as foundation of organizational performance management system. Aspects of maslahah daruriyah those are religion, life, progency, intellect and wealth, to be developed into various of organizational performance orientation. 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. 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

The purpose of this study is to analyze the effect of attitude has a significant influence on agent intentions, the influence of subjective norms on agent intentions, the effect of self-control on agent intentions in marketing halal mart products. This study uses the Theory Planned Behavior method and structured equation modeling (SEM) to see the effect of agents on the intentions and performance of agents to market halalmart products through measurement in terms of attitudes, subjective norms and self-control. The results of the research data show that attitudes, subjective norms and self-control have a significant and positive influence on the intentions of the agents to improve performance in marketing halalmart products

The purpose of this study is to provide information about the Sharia equity fund performance with Sharpe, Treynor and Jensen-Alpha methods in Indonesia. This study is a descriptive study using a quantitative approach. The study population was Sharia equity fund in 2015 to 2018. Samples of this study were 21 mutual funds by purposive sampling method. The analysis tool in this study is the method of measuring performance based on risk adjusted return that includes Sharpe, Treynor, and Jensen-Alpha with Microsoft Excel application. During the observation period (2015-2018) there was Sharia equity fund outperform compared with markets (IHSG and ISSI). Best Sharia equity fund is HPAM Syariah Ekuitas, OSO Syariah Equity Fund, and Lautandhana Saham Syariah.

There are several programs under the Ministry of Research, Technology and Higher Education and Ministry of Religious Affairs of the Republic of Indonesia in many areas which decreased its performance level until it ended at the closing of the operational permit and even the revocation of the college permits concerned. Organizational performance is a series of performance starting from level of the organization, working units to individuals. The research on performance organization uses university based on maslahah with case study at Institut Agama Islam Tazkia. Purpose this study aims to develop a performance model based on maslahah using the framework of BAN-PT Accreditation, Maslahah Performance (MaP), and Quality Management System (QMS) ISO 9001. Methods of collection of sample are purposive sampling. Primary data collection techniques by collecting documentation directly and by distributing questionnaires to the ranks of the lecturers and the management of STEI Tazkia. Data analysis techniques by calculating the results of the questionnaire with Likert scale. The results showed that the development model of performance began with the preparation of the vision and mission, strategic objectives. It is suggested to all universities that offer the program of Islamic economics, finance, banking, and accounting; it should have a good vision, mission and objective

Islamic Insurance has to increase its profit, especially premium as the main income to maximize the profit. It’s also the purpose of the Sharia Unit Bumiputera Muda 1967 General Insurance. Therefore, it needs strategies and efforts and minimizes the obstacles. One of them is the premium receivables that have matured but not collected or called the outstanding premium. This study aims to analyze problems of the premium receivables that have matured but not collected or called the outstanding premium. Therefore, it needs strategies and efforts and minimizes the obstacles. This study uses a qualitative-quantitative method using Analytic Network Process (ANP). The analysis is focused on internal-external problems and short-term-long term solutions from Sharia Unit Bumiputera Muda 1967 General Insurance that are expected to overcome these problems. The results showed that the most priority problem is internal problems, as follows: premium payment and billing system, internal control, and less effective business processing. Meanwhile, the most priority solution is short-term, as follows: communication and confirmation, performance and operational effectiveness, and structural appreciation and punishment. The results are expected to be implemented by insurers and support the regulator to establish specific policies related to this issue