The institution of Zakah is instrument instituted by Islam to combat poverty and enhance welfare in the society. Zakah serves as a unique mechanism of compulsory transfers of income and wealth from the haves to the have-nots in the community. This paper seeks guidance from the verses of the Quran and develops a theoretical and workable model of Zakat-based Islamic microfinance institutions (MFIs), which can be used as an alternative approach to reduce poverty. The paper argues that charity-based Islamic MFIs will be financially and socially sustainable as based on the concepts of brotherhood, local philanthropy (decentralization), and volunteer services (joint liability). Zakat-based Islamic MFIs will provide and explore the money for consumption as well as productivity 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, and also to enhance the ability of the poor to be more productive and not just be dependent of rich people

PK policies in Bogor Regency, to analyze the role of BAZNAS and its potential and to analyze the synergy between local government policies and BAZNAS in the PPK Program. This qualitative research uses the analysis method "AIM" (Analysis Interactive Model), namely: collection, reduction, presentation of data, and drawing conclusions (verification) which are generally used to analyze the synergy process, while quantitative analysis is used to calculate the potential value of zakat. The results of this study are that the poverty rate is still difficult to suppress even though central and regional programs have been implemented where one of the main reasons is the problem of lack of funding, the budget required is around IDR 1.4 trillion, which was realized IDR 890 billion (2017). BAZNAS Bogor Regency has played an active role in the KDP program, but it is still far from optimal. The results of the potential analysis reached Rp. 1,169,354,000,000, new proceeds of around Rp. 6 billion; Realizing the various support capacities, potential of BAZNAS, analysis of problems and analysis of the interests of the parties, an agreement was built (in the FGD) to synergize at the level of policies, institutions and programs, which will later be outlined by the Regional Government (Bappeda) in the RAD (Rencana Aksi Daerah)document.

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 describes halal tourism in Muslim minority areas. Halal tourism is an industry currently developing in developed countries, not only in Muslim-majority countries but also in Muslim-minority countries. According to the Global Muslim Travel Index in 2019, Indonesia rose to the top position as a tourist destination. The coronation of Indonesia as the world’s best halal tourism destination is a new wind of optimism for stakeholders in the halal tourism sector. The Ministry of Tourism continues to expand the scope of priority halal tourist destinations. LPPOM MUI, as an institution that focuses on handling halal certification no less agile in conducting halal certification in tourist destinations. However, the development of halal tourism in several areas has been rejected by residents. This study examines the effect of halal tourism and facilities for Muslim tourists visiting Muslim minority areas. The research method used is qualitative by using observation, interviews, documentation, and in the final stage by concluding. This study found that halal tourism in North Toraja was initially rejected due to a lack of socialization in the community. It causes public misunderstanding regarding halal tourism policies. Halal tourism services still need to be improved, from the availability of halal food, worship facilities, water and bathrooms, and religious harmony. Therefore, the development of halal tourism needs to be a concern for the government.

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, they only lend to those who have the capital asset/assets that can be pledged as collateral for the loan. However, 56.5 millions unit of Small and 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.

The Assesment of Inclusiveness Principle of Malaysian New Economic Model: Maqashid Syar’iyyah Perspective. Objective of this article is to assess how far the principles of inclusiveness in the Economic New Model in Malaysia can fulfil the needs of maqasid syar’iyyah. The assessment is conducted through the key concepts and strategic measures of the principles of inclusiveness. This study is a qualitative which descriptive and analytical approach is used for assessing the principles of inclusiveness in the Economic New Model based on maqasid syar’iyyah perspective. The method of this study is using the literature review with references from secondary data. This study is expected to provide recommendations about the important role of maqasid syar’iyyah for maintaining the welfare of society and developing of a country, in this context for developing the Malaysian economy, in line with the vision 2020, Malaysia on par with developed countries.

Unsustainable consumption promotes discouraging patterns of consumption with negative impacts on society. It also contributes to inequalities and poverty. Unsustainable patterns of production and consumption undermine development goals in terms of inefficiency and overconsumption. This research explores the level of sustainable consumption of Malaysian households from the perspective of income and consumption expenditure. The analysis is based on cross-sectional data obtained from questionnaires distributed to 635 Malaysian households in eight districts in Terengganu (urban and rural areas) using stratified random sampling. The findings show that the level of sustainable consumption expenditure of Muslim households in Terengganu is still low. Achieving sustainable consumption patterns is more technically and politically complex than changing production patterns because

Indonesia is a country with the largest number of Muslims in the world, this makes the potential of zakat in Indonesia reach 233.8 T. Caliph Umar bin Abdul Aziz is one of the successful caliphs in managing zakat. This study aims to determine the management strategy and distribution of zakat during the caliphate and in Indonesia, which then analyzed the possibility of its application in Indonesia. This analysis uses qualitative methods with literature review and content analysis tools. The results of this study indicate that the fundamental factor of the success of the caliph in the management of zakat is in the legal system governed by the government. So that in the collection, management and distribution becomes centralized. In addition, public trust in the government also determines the success of the caliph in managing zakat.

Tawhidic Based Economic System: A Preliminary Conception. This study investigates contemporary mainstream economic system, does Islamic Economics taking advantage of the shortfall of the system outlined above based on Tawhidical approach? By using descriptive qualitative method this paper proposed the appropriate of Islamic economics theorize that the Islamic system provide the ideal form of a socio-economic order. This paper found that Tawhidic based economics approaches can be focused towards seeing wholes of economics, rather than parts; seeing economics activities as a 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 also shows the position of Tawhid in the system and theory of economy in creating prosperity and benefit for all mankind comparing to mainstream economic system and their theory

This study examined the effect of institutional support in managerial capacity building on marketing orientation and Small and Medium Enterprises (SME) growth. The study employed positivist research paradigm which necessitated the use of survey method. The study sample consisted of 147 participants across the Ghanaian SMEs sector. The study conterminously employed Structural Equation Modelling (SEM) and Smart-Partial Least Square (PLS) to analyze the survey questionnaire data and test the research hypotheses. The study found that institutional support in managerial capacity building had positive and significant impact on SMEs comparative advantage and performance. The study further revealed that marketing orientation has significant on SMEs growth. On contrary, the study found that institutional support in managerial capacity building has insignificant effect on marketing orientation. These results imply that continue investment and support in managerial capacity building and marketing intelligence are required to enhance SMEs growth. We suggest replication of this study in other Sub-Sahara countries since this was limited to only Ghanaian SMEs. 

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.

We present a new model to identify and prioritize factors affecting small and medium enterprises (SMEs) investment intentions by integrating existing models. Structured questionnaire is used to sample respondents from the Ghanaian SMEs between 2017 and 2018. Data analyses have been conducted using variancebased Smart Partial Least Square (SmartPLS) technique. The major findings of the study are that macro environment factors, resource competitive strategies and oil and gas policy-specific factors are the significant determinants of SMEs investment intentions. Again, the study revealed that the resource competitive strategies significantly mediate the relationship between macro environment factors, industry force, oil and gas policy support and investment intentions. These results are robust and consistent with resource-based view, theory of constraint and theory of strategic positioning. Moreover, these results contribute new knowledge towards developing investment strategy for the downstream oil and gas industry. Besides, these findings have managerial implications needed by policy makers to renew commitment and provide the needed framework to investors to enhance indigenous participation in the industry.

This study examines the dynamic relationship between CO2 emissions, Islamic financial development and economic growth in Indonesia, using the Environmental Kuznets Curve (EKC) approach over the period 2000-2018. Employing ARDL and ECM testing to examine the existence of long- and short-run relationships between the variables, we found that no EKC’s support existence in Indonesia. The study also found no dynamic short-run relationship between growth, Islamic finance development and CO2 emissions. The long-run findings suggest that CO2 emissions from transport; other sectors, excluding residential buildings and commercial and public services; and the residential buildings and commercial and public services sectors are significantly associated with Islamic finance development in Indonesia. Hence, the findings of the study show that the country may need to adjust its CO2 emissions and promote eco-friendly and energy-saving activities to protect nature through Islamic finance development Strength and cost-efficiency.based financial sector development, especially in improved loans for business, would be valuable to limit CO2 emissions

There is the need to reexamine the nexus between industry forces and investment behavior due to mixed and ambiguous results in most previous studies. The purpose of this study is to investigate how the antecedents of industry forces affect investment behavior of Small and medium enterprises (SMEs) in Ghana’s downstream oil and gas sector. The SMEs manager’s perceived benefits of oil and gas trade have also been examined. A cross sectional survey methodology has been used to collect data from 475 Ghanaian SMEs via structured questionnaire. Data have been analyzed using partial least square method. Using exploratory factor analysis and multiple regression analysis our results reveal that threat of entry, competitive rivalry, power of suppliers and power of buyers are related to SMEs investment behavior. We find insufficient empirical evidence to support the relationship between threat of substitutes and investment behavior. Our substantive evidence further show that SMEs managers/owners have high expectation from the oil and gas trade notably: High earnings, employment opportunities, improvement in infrastructure and service extension to Ghanaians. Our robust results are partially consistent with Porters’ five forces model. These results have important implication on oil and gas investment and industrial restructuring to facilitate SMEs participation in the sector.

One of the leading and contemporarily become prominent issue in the finance institutions is the capital structure. Islamic microfinance institutions as one of instrument to solve the poverty problem have risen to the forefront as invaluable institutions in the development process. Since capital constraints have precluded the expansion of microfinance programs and microfinance institutions have had various degrees of performance and sustainability, the question of how best to finance these organizations is a key issue. This paper attempt to explore how changes and variety source of fund in capital structure could improve Islamic microfinance institutions efficiency and financial performance.