This research aimed to review and highlight some issues related to Islamic economic and finance practices in Indonesia. This research used qualitative-descriptive approach with content analysis, library research and critical studies method. This research found some critical points on islamic economic and finance practices in Indonesia, such as (i) islamic  banking in Indonesia shows inconsistencies and unwillingly implementation; (ii) the Islamic economics practices not going too far from around financial sector (iii) the practice of islamic finance in indonesia is mostly focused on the Islamic Commercial Finance (ICF) sector and less concerned with Islamic Social Finance (ISF); (iv) shariah financial institutions is more precisely than what is called â€shariah bank†(v) epistemological problems in the islamic economics curriculum need to be answered and resolved to avoid a contraproductive output from its fundamental purposes.  It is necessary to conduct re-orientation of sharia banking in order to strengthen the vision of sharia banking. All involving parties should be able to corporate, among them are academics, practitioners, governments, and, moreover, the role of scholars and organizations. It is reorientation and synergy of these parties which shall solve the problem of half-hearted implementation of banking and answer all criticism directed to the sharia banking all this time

Nowadays the issue of sustainable development are being discussed seriously around the world. This is because to ensure that the need for the future generation is not neglected during the process development of economics. Therefore, this paper attempts to re-look the role of Islamic’s element in the sustainable development. This paper using qualitative research as a method of this study. The researchers suggest that the element of Islam must be consider as one of the element to measure the sustainable development.

This study sought to ascertain critical determinants of Islamic Banking (IB) adoption among different religious groups. The study draws on from the Theory of Planned Behaviour, Diffusion of Innovation, Theory of Reasoned Action and Technology Acceptance Model on IB adoption. The study employed a quantitative research paradigm to study 600 individual financial service users in Ghana. Structured questionnaire from previous studies was adopted, modified and used to conveniently elicit data from the participants. Smart Partial Least Square Structural Equation Modelling (PLS-SEM) was deployed to analyse the empirical data. The results show that perceived knowledge, perceived benefit, perceived innovativeness, perceived religious promotion, customer’s attitude and readiness to comply with sharia were significant determinants of IB adoption for the Muslims, Christians and Africa Traditional Religion (ATR) sub-groups. However, perceived threat of violence was a significant negative determinant of IB adoption for the Christians and ATR sub-groups but insignificant for the Muslims sub-group. More so, perceived religious promotion was a negative factor for ATR sub-groups intention to adopt IB. The result pinpoints the need for formalization and demystification of IB to attract different religious groups. However, these results should be taken as preliminary since counterfactual analysis (CFA) across entire Ghana is required to validate IB implementation and adoption. Although these results support most previous studies further empirical research is proposed to replete this study across other Non-Islamic States in the Sub-Sahara Regions.

The AEC is an economic integration between ASEAN countries with the creation of a free market generally in the context of capital, goods and services and labor. The AEC opens the gate for all countries to invest and have better mutual cooperation. Indonesia experienced a big leap from 50 to 37 in the World Economic Forum (WEF) competitiveness ranking. As the largest population in the ASEAN, Indonesia must work harder to compete with the advanced educated labor force from Singapore, Malaysia and Thailand. Some challenges to develop the human capital. The problems that exist in the context of human resources and labor in Indonesia today such as lack of expertise, low education, inadequate facilities, low competitiveness, unemployment, imbalance salaries, low productivity and many others, but these problems do not make Indonesia retreat and avoiding the free market competition. MEA 2015 should not lead Indonesian labor plunged in their own home, but MEA expected to drive Indonesian workers able to exchange experiences and advance skill from other countries

We report new evidence on Small and Medium Enterprises’ (SMEs’) internal resources, i.e investment capital, business stability, customer size, type of ownership, legal status, industrial structure and location on investment decisions in the Ghanaian oil and gas sector between 2016 and 2017. Overall, we find that SMEs of larger business size, with large investment capital, large fixed assets, more business stability, structured business ownership, large customer size, registered status, operations in urban locations and reinvested annual profits -- are more likely to invest in Ghanaian oil and gas sector. Per contra, the results reveal that industrial structure has no influence on SMEs’ investment decisions. Additionally, our findings are most robust to SMEs that choose to invest in the oil and gas value chain which is consistent with the resource-based theory. This empirical study has been conducted through a survey. Data has been collected using a stratified sampling technique and structured questionnaires with 245 SMEs across diverse industries. The survey data has been analyzed using binominal logit regression and Chisquare test. The results are expected to be of substantial importance for investment decisions in the domestic business environment. We strongly recommend the replication of this study in other emerging oil and gas economies

The aim of this paper is to revisit on the possibility to reintroduce the waqf as policy instruments for economic development. This study is motivated by our findings that waqf are considered as economic matters in three aspects: ownership, tools for intergenerational transfer, investment and sources of revenue and expenditure. Subsequently, we suggest to record these activity in the State of National Account. However, the current practices of transmitting the waqf via NPO and Islamic microfinance lead us to narrow the scope of recommendation to only fiscal policy. The related policy that could contribute to a very large and significant development and welfare of the community is being left out. Therefore, in this paper, we suggest a social security policy, which is intended to achieve the prosperity of society.

This study investigated dimensions of SME’s constraints and decisions to Invest in the Ghanaian Oil and Gas Sector. Using a binominal regression model we analyzed primary data from 497 local SMEs. The study found that SMEs with inadequate capital, had high level of competition, had high corruption perception, lacked policy awareness, lacked adequate external credit facilities, had inadequate information, lacked managerial capabilities, lacked technological capabilities were less likely to invest in the Ghanaian oil and gas sector. Per contra, inadequate human resources capabilities, inadequate entrepreneur characteristics exerted no significant influence on SMEs decisions to invest in the Ghanaian oil and gas sector. This study has implications on oil and gas policies, investment decisions and future research. Particularly Ghanaian government is required to expedite and enforced the Local Participation in Petroleum Activities Policy under the Petroleum Regulations. This study could be replicated within other emerging economies using different models.

This research is motivated to study the phenomenon of the financial health of state-owned enterprises (SOEs) who are healthy but still dependent on government subsidies. Based on these phenomena, the aim of this study is to determine the factors that affect the company’s financial health. In order to achieve this aim, the present research will employ the purposive sampling method of seven SOEs with observations during the last 11 years. The data analysis employed involves the use of linear regression model and its management through software SPSS-Amos 23. As a result, the study found that subsidy is significant and negatively affects financial health, which means that the financial health of the SOEs is getting down when funding is still maintaining subsidy every year. Instead, financial health would be enhanced if the government limits the subsidies gradually and gives broad authority to decide on the pricing structure and control of resources to support the cost of efficiency. The study also found that firm size strengthens the link between subsidies to financial health with a positive coefficient and is exhibited significantly, which means that the larger the firm size, the stronger the effect of subsidies on the financial health SOEs. This means that the SOEs that have a good asset capability tend to have a better financial health, especially because efficient opportunities are supported by the control of resources and a more economical business scale.

The purpose of this study is to find out what factors influence and which factors play the most powerful role in influencing efforts to improve the competitiveness of Small and Medium Enterprises in Eastern Indonesia via a comparative qualitative research method. The results of this study found that there are several factors influencing efforts to improve the competitiveness of Eastern Indonesia Small and Medium Enterprises. In conclusion, the dominant factor is that policy and infrastructure want to illustrate the extent to which the implementation of policies and infrastructure in locations around MSMEs operate can support or hinder businesses to operate

This study attemps to examine effects of Net Profit Margin, Debt to Equity Ratio, Return on Equity, and Earning per Share on the stock prices of the Consumer Goods Industry sector in the period 2015- 2019. The data used in this research are secondary data obtained from the company's financial statements in the consumer goods industry sector, amounting to 37 entities. Hypotheses testing are done using the F test to see its effect simultaneously and the t test which is intended to see the effect partially. By using multiple regression analysis, this study found that partially the net profit margin, return on equity, and earnings per share variables had a positive and significant effect on the company's stock price in the consumer goods sector. While the debt to equity ratio has no effect on the company's stock price on the Bursa Efek Indonesia (BEI). Simultaneously the net profit margin variable, debt to equity ratio, return on equity, and earnings per share have a significant effects on the stock prices of the consumer goods industry sector companies on the Bursa Efek Indonesia (BEI)

The recent studies about the role of Islamic philanthropy in addressing socio-economic problems have been growing and confirming its significant role in overcoming the problem. This is in line with the existence of regulations that support the effectiveness of its role in poverty reduction in Indonesia, such as Law No. 23 of 2011 on Zakat Management and Law No. 41 of 2004 on Waqf. This study has two objectives. First, to analyze the impact of Islamic philanthropy on poverty reduction as the socio-economic problems in Indonesia in the short and long run. Second, to analyze the effectiveness of integrated Islamic commercial and social-economic or finance to address the poverty compared to unintegrated one. This study used Auto-Regressive Distributed Lag (ARDL) approach to analyze annual data for the period of 2002-2019 while investigating the long and short-run relationships among variables. It found that Islamic philanthropy reduces poverty both in the short and long run, particularly in the integration of Islamic social and commercial finance in a single model. The government should therefore include Islamic philanthropy or other Islamic social finances as a fundamental strategy for building financial stability and sustainable development. (Menjamurnya studi-studi terbaru terkait peran filantropi Islam dalam mengatasi masalah sosial-ekonomi telah mengkonfirmasi peran pentingnya dalam mengatasi masalah ini.  Hal ini sejalan dengan adanya regulasi yang mendukung efektivitas perannya dalam pengentasan kemiskinan di Indonesia, seperti Undang-Undang Nomor 23 Tahun 2011 tentang Pengelolaan Zakat dan Undang-Undang Nomor 41 Tahun 2004 tentang Wakaf. Penelitian ini memiliki dua tujuan. Pertama, untuk menganalisis dampak filantropi Islam terhadap penurunan tingkat kemiskinan sebagai sebuah permasalahan sosial-ekonomi di Indonesia, baik dalam jangka pendek maupun jangka panjang. Kedua, untuk menganalisis efektifitas integrasi atau antara filantropi dan komersial dalam kerangka ekonomi Islam dalam mengatasi permasalahan kemiskinan. Penelitian ini menggunakan pendekatan Auto-Regressive Distributed Lag (ARDL) untuk menginvestigasi hubungan jangka pendek dan jangka panjang antara filantropi Islam dan tingkat kemiskinan selama periode tahun 2002-2019. Penelitian ini menemukan bahwa filantropi Islam dapat menurunkan tingkat kemiskinan baik dalam jangka pendek maupun jangka panjang. Penelitian ini juga menemukan bahwa ketika filantropi dan komersial dalam kerangka ekonomi Islam diintegrasikan, tingkat kemiskinan dapat diturunkan baik dalam jangka pendek maupun jangka panjang. Pemerintah seyogiyanya menempatkan filantropi Islam sebagai kebijakan dan strategi fundamental dalam rangka mewujudkan stabilitas keuangan dan pembangunan berkelanjutan.

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.

There is the need to integrate SMEs into the high-value Oil and Gas Sector to enhance socio-economic development of Ghana particularly Job creation and Gross Domestic Product (GDP) growth. This study examined the impact of external business environment on SMEs willingness to invest in the Ghanaian oil and Gas Sector. Using binomial logistic regression analysis we analyzed primary data from 245 SMEs from Ghana during the periods between 2015-2016. The study found that SMEs that had ready access to finance, reliable electrical supply, required technical qualification, no competition from foreign companies, well informed on Oil and Gas investment opportunity were more likely to invest in Ghanaian oil and gas sector. We also find that corruption perception, political stability and training support in the capacity building had no significant influence on SMEs willingness to invest. We suggest that future studies should cover internal firm factors, perceived barriers as well as macro-level factors. Also, the study was limited to Ghanaian SMEs, future researchers may replicate this study in other oil-producing countries in Africa including; Nigeria, Uganda, Angola and South Africa.

Handbook on Islam and Economic Life is a unique study, one of the first of its kind to consider Islam within a broader economic sphere. Covering a wide breadth of topics and research, it explores how Islam impinges upon and seeks to shape major aspects of economic life including economic organisation, business and management, finance and investment, charity, mutuality and self-help, and government. It concludes by analysing the link between religion and development, the present economic situation in Arab countries and the causes of underdevelopment in Muslim countries.

The Qur’an is the primary source in all Islamic matters, including in work ethics. This article attempts to discuss work ethics as scripted in the Qur’an. In overall, the values and ethics in the Qur’an could be classified into three major components, namely religious, quality and personal values. These three components have a significant impact on work culture in the organization. It is hoped that this article can enhance the understanding of Muslim employers/employees towards work ethics.This understanding will encourage them to implement work ethics in their daily activities.