Today global economic system practiced is commonly derived from Western thought and civilization. A lot of research has shown that this modern economic system unsuccessful in achieving economic goals, moreover this system produce a negative effect as causes of various economic problems, such as crisis, inequality distribution, poverty, and war in various countries. The matter then leads us to find what exactly source of the problem is. By using qualitative analysis with content analysis technique, this paper attempt to identify two points related to economic theory and problem. Firstly, does the economic problem linked to the economic theories itself or by human behavior? Secondly, does economic system, theory or ideological failure? This study argues that economic theories closely related and unseparated to ideology or religion matter which has develop the human perspective on how to solve the economic problem. This paper designed also to realign the contemporary economic system and their economic theory compared to the Islamic economic system based on Tawhid. This study found that the lack of fundamental ethical norms, political economy, morality and the pursuit of unbridled self-interest, is the main problematic issues and cause of the economic problems as the findings. The implication is that the economic system should adopt Tawhidic system as an answer and solution of human economic phenomenon.

The role of government is always significant in every aspects of lifecycle of the state. In pursuit this role, government should decide an appropriate policy to face an economic phenomenon. In Islam, the government is a vicegerent of Allah which is government policy is fundamental not merely for progressing of the state itself but also socio economic welfare of the community. The government is, hence the policy should not bias and unequal. Focusing these issues, this paper attempts to formulate the concept on how the government use religious values in establish economic policy based on Tawhidic approach. This paper focuses on the economic role as reflection of the divine nature of Islamic economics by emphasizes not only on the human aspects of economic actors, but also on the rules or a system that must be obeyed by economic actors. Thus, this paper attempts to formulate the concept and the framework of Tawhidic based economic regulation using by descriptive qualitative method.

This study aims to investigate the perceptions of Indonesian students in Medina, the Kingdom of Saudi Arabia about bank interest and Islamic banks usage. By using questionnaires data collection method and purposive sampling technique, 40 students have been interviewed online in this study. The data is then analyzed by descriptive percentage. This study found that most Indonesian students in Medina consider bank interest as usury and only 5% of them thought that both were different. The students who consider bank interest as usury argue that the contract between the customer and the bank is a Qordh (loan) contract. In contrast, respondents who consider the bank interest and usury are different, arguing that the interest is not always as usury according to some scholars who do not categorize the contract between bank and customer as Qordh, but as Tamwil (financing). This study also found that most of the students using Islamic banks and at the same time some of them also have conventional accounts for various reasons, such as the limited number of ATMs and branch offices, and no Islamic debit cards yet that are accepted as credit cards in online transactions.

Penelitian ini mendeskripsikan tentang makanan yang tersertifikasi halal bagi para wisatawan yang berkunjung didaerah destinasi wisata yang penduduknya minoritas muslim. Metode Penelitian yang digunakan adalah kualitatif dengan menggunakan instrumen wawancara pada beberapa informan penelitian yakni Pemerintah Daerah, Majelis Ulama Indonesia, LPPOM MUI, dan Pengusaha Warung Makan. Hasil penelitian ini menyimpulkan bahwa warung makan yang tersertifikasi halal masih sangat sedikit. Hal dikarenakan pemahaman masyarakat yang belum terlalu memahami pentingnya sertifikasi halal dan terkendala dengan pembiayaannya. Oleh karenanya peran pemerintah dalam hal ini Dinas kebudayaan dan Pariwisata, Majelis Ulama Indonesia, LPPOM MUI, dan para pengusaha warung makan perlu saling bersinergi dalam penyediaan makanan halal yang merupakan salah satu daya tarik bagi para wisatawan muslim untuk berkunjung di Kabupaten Toraja Utara.

The problem of scarcity resources is one of the most important topics in economics, even one reason for the emergence of economics itself. Al Qur'an as a source of economic science in Islam, of course, also talks about the Resources. The study finds that the concept of economic resources related to scarcity in al Qur'an different from what is understood by economic mainstream, and that is the foundation for the Muslim economists to build the consumer behavior theory in Islam.

In mainstream economics, distribution concerns who gets what. “Who” refers to the personal distribution of income among individuals or the functional distribution of income among suppliers of productive factors. Also mainly concerned with the factors which affect the wealth of nations. Issues of justice, elimination of poverty and deprivation are secondary. On other side, Islam not only concern to who gets what, but also concern to how the human gets what equally and justify. Therefore this study uses descriptive and synthetic approach to present principles and concept of justice distribution derived from the guidance of revelation; Qur’an and Sunnah. The study is derived into two main themes. The firts one deals with theory of juctice and a review on distribution theory in secular Paradigm, the second one is the taxonomy of economic distribution theory in Islam

This study had three objectives: mapping micro, small and medium enterprises (MSME) in the area of Ternate according to the potential and characteristics of the community; identifying strategies to improve business competitiveness; and providing recommendations to relevant stakeholders. By using a qualitative method through structured interviews and focus group discussions involving representatives from the MSME community, this study found that MSME has the potential to be professionally developed, not only as a small-scale home industry activity but also as a leading sector in Ternate. This can be seen from the spread of creative industries in various districts, each of which has distinctive features of superior products in the MSME sector. These peculiarities have the potential to be arranged in the form of creative industry clusters by creating certain product areas in several districts that have the same characteristics. However, there has not been any intensive coaching from the local authority, including the absence of Corporate Social Responsibility (CSR) from large companies as a form of social responsibility to develop MSME activities.

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

Research has shown that people are increasingly concerned with environmental, economic and social issues. They want a better livelihood, standard of living and more sustainable choices. Unfortunately, few of them translate this willingness into behaviour. Consumers have a crucial role to develop business models and products which make efficient use of resources. Central to all production is consumption because it drives much of the environmental stress, waste management and resource exhaustion directly and indirectly through the production of the goods and services demanded. Income inequality and sustainable consumption are two terms that are interconnected and significant in explaining the economic environment. It measures the extent to which individual households interact in the economic cycle of the use of goods and services. Different income can be shown through different consumption expenditure patterns whether they are basic goods, necessities or luxury items. This paper investigates how the total household consumption expenditures have developed and how they have allocated their consumption budgets based on different consumption categories. It also identifies how the low, middle and high-income groups allocate household consumption expenditure comprising nine basic components, namely food, clothing, shelter, transportation, communication, education, health and recreation. The data is collected from a questionnaire survey conducted with 635 different households in Terengganu, Malaysia. The findings indicate that food and transportation are expenditure priorities across all groups. The difference in the existing pattern of consumption will be the benchmark for the economic balance to achieve a prosperous quality of life and reduce the inequality gap between high and lowincome groups. Several recommendations are offered in terms of education policy, financial aid and assistance from government and non-government organisations (NGO) to upgrade the standard and quality of living among the poor and lower-income groups. Researchers and policymakers can also benefit from this study to assess the extent of the quality of life and standard of living.

Abstract — as a science, Islamic economics is actually already having the tools and perfect framework. In establishing its fundamental science from inside itself, Islamic economics seek to fuse spirituality principles which based to its knowledge with economics science. In formulating its science building, Islamic economic need a new methodology, to incorporate secular economics mixed to Islamic economics view. This paper promotes selected issues occurred in methodologically building process and tries to elaborate it briefly.

During the last ten years, several developing Muslim countries experienced an interesting phenomenon. Where they are able to build his country's economy through the economic empowerment of small communities. The role of microfinance institutions cannot be denied. Through microfinance programs, the country can further improve the welfare of the poor and reducing poverty. Accordingly, Muslim countries have to combat it by using religious institution and culture. In this case, the role of Qardh al Hasan, as traditional Islamic financing in tackling of poverty is very relevant and important. Qardh al Hasan is supposed to be an important to investigate and provide much needed social service to the poor effectively. The Qardh al-hasan is one of financing-product provided by microfinance institutions. Unlike other financing products, the qardhul-hasan has some unique characteristics, including to entertaint a very specific customers who might be categorized as the dhuafa’ group. The purpose of this paper is to show how microfinance programmes based on Qardh al Hasan financing principles can be established.

Moral education has becoming an increasingly popular topic in the fields of psychology and education. It is in line with contemporary one of the greatest problem that has confronted human society is a moral problem. Our society is full of depravity, irresponsibility, and dishonesty. While not all of these social concerns are moral in nature, moreover almost the entire population had no more sense of morality. In other side performance of our educational institution not promising yet even more complicated. Hence, this paper intended to refresh our framework in respect to what exactly philosophical basis to build our morality and suggest Al Mawardy’s model of human morality in his book Adab al Dunya wa al Din, especially in part of Adab al Nafs as part of our desire in back to the right track of moral education.

This study attempts to determine the factors of flooding in Kelantan's, especially in areas near the Kelantan River, Galas River and Lebir River. By using the OLS estimator on the primary data in 2014, a total of 400 questionnaires were distributed among heads of household, and owner of business premises in the district of Manek Urai, Dabong, Tanah Merah, Kota Bharu and Pasir Mas. The result shows that income per capita, number of households, distance from the river and willingness to pay can reduce a flood risk. These findings are useful to the policy maker to propose the solution to minimize the flood risk, particularly in area that exposed to disaster.

This paper aims to examine the influence of accounting standards (SAFS Sharia 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 Sharia No.109 to the zakat institution financial performance. A plausible reason for insignificant relation is that SAFS Sharia No.109 has not yet faithfully adhered by zakat institutions in their reporting, particularly with respect to the zakat for productive purpose (Alim, 2015). 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.

Islamic financial planning is a making process of financial planning in prudence to make it compatible with Islamic law in order to achieve the level of Al-Falah, that is the blessing of dunya and the salvation of akhira. Yet, with the importance of Islamic financial planning, the individuals who apply the Islamic financial planning in managing their wealth are still rare. So that this research intends to discover the influence of Islamic financial literacy towards each individual’s Islamic financial planning, and moderation effects given by the big five personality trait. The researcher used the simple regression test to find out the Islamic financial literacy effects towards the Islamic financial planning, and used the analysis of moderated multiple regression (MMR) to take the idea that the big five personality trait can moderate the Islamic financial literacy effects towards the Islamic financial planning. The data is collected by using the survey technique through questionnaire distribution to 115 moslem entrepreneurs in Bandung area. The result of this research shows that the Islamic financial literacy influences the Islamic financial planning significantly, and the big five personality trait partially moderates that influence. Furthermore, the conscientiousness and opennes to experience personality trait moderate the influence of Islamic financial literacy towards Islamic financial planning, while the other three of big five personality trait do not moderate.

The study reports a research which was conducted on 640 respondents of Malaysian society to know their perception on the relation between science and religion. The study was conducted throughout the country of Malaysia involving male and female respondents from the age of 20 to 50 years from various ethnics and religious backgrounds. The study was conducted by using the questionnaire method in which the respondents were asked to respond to given statements on the relation between science and religion and the importance of religion and science for human being. The booklets of questionnaire were collected to be analysed using the SPSS to obtain the mean response according to the ethnic, religious and academic background. T-test were also conducted if the means responses were significantly different. The findings of the study show that generally the respondents accept that science leads people closer to god. The mean response between the different ethnic group’s means was also significant. Moreover, the finding also shows that the respondent accept the importance of religion and science for the well being of the people

This study aims to seek the impact of zakat accounting standards (PSAK Shariah No.109) adoption on the financial performance of zakat institutions. This study employed the Difference in Difference (DiD) test and Panel data regression using the data from 5 national scale zakat institutions in Indonesia from 2006 to 2019. This study found a difference in zakat institution performance between the pre and post-adoption of PSAK Shariah No.109, both in the DiD test and Panel data regression model.

Baitul-Mal is normally known as one of financial institution in Islam. This point is true because presently Baitul-Mal‟s role is more prominent in terms of providing assistance and contributions to reduce the poverty in the Muslim country. The rapid global economic changes towards 2020 clearly impact to the Baitul Mal as a Socio-economics institution, politically and economically. This paper tries to explore and examine some basic issues and challenges in the development of Baitul Mal facing economic transformation 2020 in the Indonesian context.

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.

The paper reports and discusses a study which was conducted on 490 Muslim respondents from the young generation between the ages 18 to 40 years. The study aimed to identify the popularity of the Islamic banking system among the students of the National University of Malaysia, and the role of Islamic education in promoting the Islamic banking system to the respondents. The findings of the study could be used to popularise further the Islamic banking system in the country. The respondents were selected randomly from The National University of Malaysia. Each respondent was given a booklet of questionnaires containing statements with given choices of yes or no answers as well as the open ended questions. The responses were analysed using the Statistical Package for the Social Sciences (SPSS), to obtain the percentages of the responses. The findings of the study indicated that the Islamic banking system was very popular among the younger generation. About 63% of respondents kept their savings in the Islamic banking system. The findings also shown that the respondents who are most inclined towards the system were those who had been educated in the Islamic education system. 85.0% of the students of the Islamic Studies Faculty saved their money in the Islamic banking system, followed by the respondents from the Faculty of Education (73%) and also the Faculty of Law (72.3%). The controlled groups i.e. the respondents from the other faculties, where the Islamic education was not thought, the percentages of the respondents who saved in the Islamic banking system were much lower.