This research aims to analyze (i) how the productive waqf management strategy carried out by the Yayasan Wakaf Produktif Pengelola Aset Islami Indonesia and (ii) Priority of the benefits, opportunities, costs and risks (BOCR) of the Yayasan's development strategy in managing its productive waqf projects. The respondents in this research consisted of experts, academics and waqf practitioners. The type of this research is qualitative and the data analysis method used in this research is the two-story of Analytic Network Process (ANP) with super-decision software. In this research, the aspects of benefits, opportunities, costs and risks (BOCR) are divided into 2 aspects, first internal aspects; aspects which have point of view from the perspective inside the institution and the second external aspects, aspects seen from the point of view outside the Yayasan. Before the existing strategy of the Yayasan is analysed using the ANP- BOCR method, the researcher maps out the strategy into the business model canvas (BMC). The results of the research, the strategies that have been carried out by Yayasan are (1) Intensive good use of Nazir who is competent and knows knowledge about waqf, and (2) the feasibility study before choosing a business for waqf funds and (3). Productive Collection of waqf funds using a personal approach to potential waqifs. This study shows that the three strategies above which are carried out by the Yayasan - are things that most respondents preferred, showed a rater agreement (W) at the the level of agreement between respondents at the medium level, namely = 0.39 - which is in accordance with the study result of long-term strategy. The Yayasan has proven to generate maximized and sustainable profits which have been distributed to mawquf alayh in accordance with the initial objectives of its project.

This study aims to describe the implications of socio-economic change caused by tourism development and to explore the relationship between society and tourism from a sociological perspective. By using a qualitative approach with a case study research design, this study analyses data that was obtained through observation, documentation, and interviews. The participants involved were the local community living in Keciput village, the Keciput village staff members, the Tanjung Kelayang Beach tourism manager, and the Belitung Regency tourism office staff members. The study found that the tourism development of Keciput village had caused changes in the social and economic life of the local communities. In terms of social life, the emergence of tourism development had caused interactions to decrease. Previously, when the interactions among the people were still very intense, the economy of the community was also on the rise. However, ever since the tourism development took place, it has changed the people’s type of livelihood: where previously they had worked as fishermen, they are now working as transport services fishermen. The economic value of tourist activities is also classified into a higher category because the yield from the marine sources is very dependent on the season.

Purposes: In the social sciences, economics is one of the most influential and prestigious disciplines. Mainstream economics typically view economic agent as amoral, entirely self-interested, unrealistic and has damaging effects. In the last few decades, while remaining a powerful discipline, economics has narrowed in scope. Consequently, to reinvigorate economics, especially in times of crisis or major institutional change, mainstream economics has almost lost a key reserve of alternative thinking. This study intends to investigate the contemporary mainstream economic system, does Islamic Economics taking advantage of the shortfall of the system outlined above based on Tawhidical approach?

Design/Methodology/Approach: This paper using the descriptive qualitative method

Findings: Modern economics is normative bias; does not explain actual economies but describes a "utopia" in which Pareto optimality applies. The excessive unrealistic assumption is the impact of the inconsistency of modern economic theory. The important aspects of human behavior ignored by this assumption as the theory of economic man. In addition, the general equilibrium theory of neoclassical is not compatible with an economy that develops over time. It relies too much on complex mathematical models without sufficient attention to whether this really illustrates the real economy and ignores the complexity of nature and human creativity. At the contrary, Islam cause to be present the Tawhidic based economics approaches can be focused towards seeing wholes of economics, rather than parts; seeing economics activities as worship, rather than competition; cultivating the solidarity (charity), rather than individualism and creating the justice, rather than injustice. Thus this paper designed to provide the concept of Islamic economic system with Tawhid as the basis, to fit the philosophy of economic science and reality of human life. The paper shows the position of Tawhid in the system and theory of economy.  It becomes a must to do to create prosperity and benefit for all mankind, with the aim to realign and comparing to the mainstream economic system and their theory.

Originality/Value: This paper proposes the position of Tawhidic based economics approach in setting the economic system. The position of this foundation offers basic guidelines for the justice and fairly system, which is benefited to all human beings regardless of religions, races, and castes, and furthermore to the sustainable economic development and welfare for the ummah.

This research was conducted to analyze the influence and correlation of interest rates as one form of the implementation of usury practices on inflation and poverty in Indonesia. This study uses secondary data from the publication of the Central Statistics Agency (BPS) and Bank Indonesia for the period 2005-2018. This study uses Simple Linear Regression Analysis Techniques and Pearson Correlation Techniques. The results showed that interest rates as one form of the implementation of usury practices had an effect and had a positive and significant correlation to inflation in Indonesia. The practice of ribawi actually will bring a negative impact on the economy of the people in Indonesia in the form of an increase in the level of inflation in society. Measures of monetary policy intervention in maintaining price stability and inflation in society have not shown a positive impact. Also, the results of the study showed that interest rate policy also had a positive influence and correlation on the increase in the poverty depth index. That is, when interest rates are set to rise, the poverty depth index in the community also tends to go up or get worse. The findings of this study reinforce the legitimacy of the word of Allah Subhanahu Wa Ta'ala in the Qur'an and the Hadith related to the prohibition of usury practices that can lead to injustice, wrongdoing, and economic destruction of the people.

: The study aims to rediscover the original source (Al Qur’an) of Islamic economic theory in context of the influence of mainstream theories on contemporary Islamic economics studies. This study reveals the original axiomatic foundations of the Islamic system with defined characteristics and features as the source of Qur’anomic or economic theory. Moreover, a methodology is proposed to reconstruct the Islamic economic theory in four phases including; the classification of Al Quran verses pertinent to economic affairs, exegesis-based understanding of theories, chronology, and micro-macro socio-economic context. The novelty of this study is the combination of the science of exegesis and economics. The findings of this study are expected to differentiate pure Islamic economics studies from those influenced by secular economic thinking.

This study aims to examine the influence of accounting standards (SAFS Shariah No.109) for zakat on the financial performance of zakat institutions. This study has employed Difference in Difference (DiD) test and Panel data regression in order to achieve the objective of study. This study found that there is a difference in zakat institution performance between the pre and post adoption of SAFS in the DiD test. However, panel regression results show that there is no significant change in the adoption of SAFS Shariah No.109 to the zakat institution financial performance. A plausible reason for insignificant relation is that SAFS Shariah No.109 has not yet faithfully adhered by zakat institutions in their reporting, particularly with respect to the zakat for productive purpose. On the other hand, this study also found that zakat fund collection and zakat institution equity have significant impact on the performance of zakat institutions in Indonesia

A low level of ability in managing internal and external factors of the business will result in the less optimal of marketing strategies implementation and achieved an outstanding marketing performance. Therefore, a partial study of marketing strategy and marketing performance is needed which aims to determine the marketing strategy and performance. As many as 120 SMEs were chosen as respondents for saltwater fish processing in East Java, Indonesia. The multistage sampling technique used in this study where the Likert scale employed as a measuring tool in the questionnaire was distributed, finally, the data was processed by SEM, the Lisrel program. This study found that the internal and external factors partially influence on marketing strategies; the internal and external business factors partially influence marketing performance; and marketing strategies have no effect on marketing performance. The dominant path that arises is the internalstrategy-performance pathway, which means that the company's ability to manage internal factors is more dominant in influencing marketing strategy and performance.

As early as 1980, the Malaysian federal government‟s spending on education especially in primary and secondary education, was the highest in East Asia and higher than the OECD average of 3.4% of GDP. This demonstrates that the Malaysian Government has big expenses from educational sector and respectively is amenability for Malaysian economic budget. In other side Waqf in Malaysia is one of large financial source that has not been fully explored. By using qualitative analysis this paper focusing on the role of Waqf in Malaysia, especially in Higher Education Institution (HEI) and attempt to study how Waqf fund empowering the education. This study found that taking the que from the institutions of Waqf, the exploration and development of waqf fundcan be exalarate through the formation of formal organizations at state and federal level and rearrange the Malaysian educational budget and policy to support the better quality of HEI. Thus, the paper makes some suggestions as to the potential products of waqf for education

Religion and work are seldom discussed. The two have caused scholars to question the religion’s role with work. This paper reviews research on the integrate between religion and work by examining issues of concept, definition, measurement, and reviewing research that examines the relationship of work and religion with respect to: different times, types of people, organize human interactions and sources of knowledge. We then discuss the methodological requirement for reintegrating work studies into social institutional theory and indicate what the conceptual payoffs of such integration might be. These payoffs include breaking new conceptual ground, resolving theoretical puzzles and envisioning the nature of new social institutions.

Education is un-separated part of the human society as old as life itself. Human societies time bytime have had vested interests in education. The societies always agree to acknowledge theimportance of education, even a large number of them fail to provide sufficient resources thatcan be used as support to educational institutions and activities. Waqf as an institution andIslamic finance instrument has a direct and un-direct effect to upgrade the capabilities of theneedy and enhance their quality of life by providing access to education facilities. Hence, theWaqf institution surely can accommodate the issue of financing for government’s educationexpenditure in its effective and comprehensive approach. Thus, the main objective of this paperis to propose the model of Waqf financing for reducing government’s education expenditure byusing cost benefit analysis. The methodology of this research is a qualitative research towardsliterature related to Waqf. The general finding of this paper shows that there is should a strongwillingness from government to devote and make Waqf institution as one of financing capitalfor education expenditure.

Rapid growth of Islamic Bank for the last decades shows a massive positive impact not only for the muslim itself but also for the non-muslim because the unique dan different offered system. Unfortunately, the Islamic banking industry nowadays only touches on a few minor aspects of the contribution to increase prosperity of the "small" peoples. However, 56.5 millions unit of Micro and Smal-Medium Enterprises (2012) has contributed 60% of Indonesian GDP and about 97% of labor force are become a strong reason for Indonesia to have better and stronger economy. Thus, waqf bank issue raises as a capital source to figure out this problem. This paper tries to explore further possibility development of waqf bank as one of alternatif solution to achieve social welfare and poverty alleviation.

Medical tourism is a trend in the tourism market. However, not many companies providing medical tourism services follow by shariah compliant. As an Islamic country, Malaysia has potential to offer shariah medical tourism as another attraction to medical tourists. In line with this development, the paper will adopts two case studies into assessing of practice of Shariah compliant among government and private medical tourism operators in Malaysia which is a government hospital have been identified as “Hospital Mesra Ibadah”. The selected from government hospital is HUSM Kubang Kerian, Kelantan and from private hospital; Al-Islam Specialist Hospital, Kampung Baru, Kuala Lumpur. An overview of shariah medical tourism practice such as the treatments, facilities, services and the management of the hospital will also present.

The purpose of this study is to propose an appropriate governance model to deal with corruption. This study reveals the indicators, from where and how corruption will be resisted. By using data governance and corruption control as well as the corruption perception index from WGI and TII in 2008-2018, this study proposed a quantitative approach to strengthen the results of the inference tests of the effect of good governance on the potential for corruption, confirming and expanding on work carried out with critical informants by Transparency International Indonesia (TII). The study found that, from the perspective of agency theory, the influence of governance on corruption has been proved, both in the context of the world and Indonesia. Good governance will make the trustee (agent) not arbitrarily follow their wishes through corruption to enrich themselves or other parties, but instead follow the mandate given by the principal (community). This study also shows, in the world context, that by adherence to ethical rules being followed by effective government, in stable political conditions, and public voices being heard, corruption can be eradicated. In the context of Indonesia, to suppress criminal acts of corruption, stable political conditions and guarantees for public votes must be done first, then effective government and compliance with regulations can follow.

Pandemic of COVID-19 has shocked and spread all over the world, including Indonesia. This research was conducted with the aim to lay out the role of Islamic economic and finance policies, as well as to propose a number of solutions which could be offered to solve various problems in time of the COVID-19 pandemic in Indonesia. By using descriptive qualitative approach, this research attempts to analyse various concepts that found in the research process trough content analysis techniques and library research. The results show that within the framework of Islamic economic and finance, some strategies that we can employ to dispose the social impact of COVID-19 such as: (1) distribution of direct cash assistance from zakat and infaq, collected by zakat and other social institutions; (2) strengthening infaq programs for various needs; (3) strengthening waqf programs, including cash waqf for social waqf projects, productive waqf, combination of social-productive waqf, or cash waqf linked sukuk; (4) superior venture capital assistance for the business sectors or Micro and Small Enterprises (MSEs); (5) the qardh al-hasan scheme; (6) strengthening MSMEs businesses; (7) improvement of Islamic economic and finance literacy; and (8) the development of Islamic financial technology. If the above programs using Islamic economic and finance instruments could really be encouraged, the economic surplus would be re-established and the acceleration of economic recovery could be realized, while at the same time reducing poverty and supporting the achievement of equitable distribution of income and wealth.

The Quran prohibits interest and encourages trade and charity as alternates. This article seeks guidance from the verses of the Quran and develops a theoretical model of charity-based Islamic microfinance institutions (MFIs), which can be used as an alternative approach to reduce poverty. The article argues that charity-based Islamic MFIs will be financially and socially sustainable as these are to be based on the concepts of brotherhood, local philanthropy, and volunteer services. Charity-based Islamic MFIs will provide money for consumption as well as production purposes and, thus, can broadly target the economic and social needs of the poorest of the poor. They can help minimize indebtedness and reduce unequal distribution of wealth in society.