Penelitian ini bertujuan untuk mengukur tingkat efisiensi Baitul Maal Wat Tamwil (BMT) dengan mengambil studi kasus BMT MMU dan BMT UGT Sidogiri Pasuruan tingkat cabang dengan total sampel 50 cabang. Metode yang digunakan dalam penelitian ini adalah Two Stage DEA. Tahap pertama mengukur tingkat efisiensi BMT MMU dan BMT UGT dengan menggunakan DEA. Tahap kedua menguji faktor-faktor internal dan eksternal, yang mempengaruhi tingkat efisiensi BMT MMU dan BMT UGT dengan menggunakan pendekatan Tobit. Hasil penghitungan DEA menunjukkan, efisiensi overall technical BMT MMU (0,84) dan BMT UGT (0,88) pada tahun 2008 masih kurang optimal. Penyebab utama inefisiensi untuk BMT MMU adalah penyaluran pembiayaan, sementara sumber utama inefisiensi BMT UGT adalah penghimpunan dana pihak ketiga yang kurang maksimal. Hasil pengolahan Tobit menunjukkan bahwa kekuatan modal dan ukuran BMT memiliki pengaruh positif secara signifikan terhadap efisiensi overall technical pada dua BMT. Sementara dari sisi eksternal, PDRB perkapita memiliki pengaruh negatif secara signifikan. Adapun pertumbuhan pengangguran, tingkat pendidikan, dan komitmen keberagamaan tidak berpengaruh secara signifikan

Takaful (Islamic insurance), being an important emerging sector in the Islamic financial industry, has exhibited remarkable growth across the globe over the last few decades. This indicates an enormous demand for takaful products, from short-term general takaful to long-term family takaful. As a result, takaful has attracted sizable attention from both Muslim and non-Muslim countries. Nevertheless, the industry continues to experience a plethora of contentious issues in its operational models. The present study explores the evolution of takaful models and their future direction.

This study aimed to investigate the waqf motivation in carrying out waqf in Bogor City. Primary data and questionnaire techniques were used by distributing to 103 waqif respondents. Factors were grouped into 2 categories, internal and external. Internal factors were religiosity, waqf literacy, trustworthiness in waqf institutions, income & wealth. Meanwhile, external factors included performance efficiency, tax incentives, the role of government, and the role of scholars. The method used was path analysis for internal factors and multiple linear regression analysis for external factors using SPSS 21. The results showed that waqf literacy and trustworthiness affected religiosity and also to waqf motivation while income & wealth had no effect. The role of government and the role of scholars had a significant positive impact on waqf motivation, but the performance efficiency of the institution and tax incentive had no significant effect.

Objectives – This study aims to strengthen the role of Islamic pawnshop in financing for Micro, Small & Medium Enterprises (MSMEs) Methods – This study is employing Analytic Network Process (ANP) approach Results - The main problem of Islamic pawnshop in expansion was its internal. The most priority solution was socialization through promotion and advertisement. The appropriate strategy to be executed was marketing strategy to expand Ar-Rum product (financing for MSMEs) through sales marketing. Conclusion - The considered action is massive socialization to the societies using effective and efficient marketing strategy.

It is challenging for Islamic banking as a business institution to provide qard al hassan. In this paper, we proposed qard al hassan platform (QHP) as the model which can be implemented for Islamic banking. QHP can use an internet base where the synergy of public to give fund through social crowdfunding and the capability of bank to provide good corporate governance in managing fund and assessment qard al hassan as financing in productive sector. Since there is no fee of qard al hassan to finance operational cost, there are 3 sources will be proposed. First is money from fee for Amil Zakat, second is profit of some portions of collection fund investment, and third is a profit of investment of the upfront payment of qard al hassan. Methodology to calculate upfront payment refer to Mesbah Point. Regarding minimizing and controlling the default rate, the bank should focus on the right target market of borrower and low risk industry sectors. Implementing QHP model can reduce poverty and achieve sustainable growth in society while at the same time creating the fairness of wealth distributing. The needy and the poor can participate in production and create its own wealth. However, the implementation of QHP could not be implemented without adjustment in regulation and set up infrastructure. Regulators need to give bank permission to collect zakat, sadaqah, cash waqf from public and as wakil of funder to execute QHP and together with banking industry to set up the infrastructures.

The purpose of this study is twofold; 1). to find the measurement scale of service performance and 2). to examine the impact of service performance dimensions on customer satisfaction in Indonesian Islamic banking context. This study employs survey method with cluster sampling technique. Self-administered questionnaire, with 408 Islamic commercial bank customers as respondents, is used to collect the data/information. Confirmatory Factor Analysis (CFA) is adopted to test the dimensionality of service performance and customer satisfaction. Structural Equation Modeling (SEM) approach is employed to examine the impact of service performance dimensions on customer satisfaction. Results reveal 5 dimensions; physical, interactions, process, technology quality and sharia-compliance reflect service performance measurement scale. It is evidence that 3 dimensions; physical, process and sharia significantly impact on customer satisfaction. Interestingly, another 2 dimensions; interaction and technology do not significantly impact on customer satisfaction

The purpose of this paper is to investigate the effects of predominant cultural values on banking disclosure. On one hand, Islamic banks have practiced Islamic principles which are universal for all countries. Islamic banks are expected to provide transparent information especially in terms of social and Shariah(Islamic) compliant information as Islamic banks claim themselves to have social objectives as the prime consideration. Islamic banks also have Shariah supervisory body to ensure that the banking activities and business operations are in line with Islamic requirements. On the other hand, Hofstede‘s cultural dimensions and Gray‘s hypotheses have rendered remarkable contributions in financial and accounting practices among different nations. Examining 45 Islamic banks in 11 Moslem majority countries, this paper focuses on four particular cultural dimensions namely individualism/collectivism, masculinity/femininity, uncertainty avoidance, and power distance and whether these dimensions have an impact on transparency. This study found that two out of four national cultures still have significant effect on the transparency level in Moslem majority countries.

This study examines the effects of Intellectual Capital (IC) and its components (capital employee, human capital, and structural capital) and Sharia Compliance on Islamic banks’ financial performance in Southeast Asia. The value-added intellectual coefficient (VAIC) approach developed by Pulic (1998) is used to determine the IC performance of 30 Islamic banks for the years 2018, 2019, and 2020. The study reveals that human capital and structural capital significantly affect Islamic banks' financial performance. However, this study fails to demonstrate that VAIC, capital employed, and sharia compliance affect Islamic banks’ financial performance. This study contributes to enriching the Islamic economy and finance literature because only a few studies test the factors affecting the Islamic banks’ financial performance in Southeast Asia.

Historically, zakah institution was only run by the state, which was indeed managed under the state or public logic. On the other hand, we are now in the era of ‘civic society’, where the ‘bureaucratic decline’ emphasized the incapability of the state to be an efficient actor of development (Bawole, Ibrahim, Hossain, & Mensah, 2017; Hirschmann, 1999). The role of non-state actors is increasingly important to be the better development engines. The fact as mentioned earlier has put these non-state actors of development, including zakah institutions, in a dilemma between two institutional logics: market or commercial logic and public or social logics (Schröer & Jäger, 2015). These institutions must face distinct problems which do not occur in a conventional single-logic organization. They regularly need to deal with the conflict between two logics, financial or social logic

Discussions on waqf and waqf institutional development currently it has become one of the major topics in the national and international discourse, especially in Muslim countries. Waqf institutions has great potential to support job creation, providing educational opportunities, and to reduce reliance on government funding. However, some problems related to the management of Waqf as asset maintenance, management and mobilization of waqaf asset should be followed. Some recent research suggests there is no specific guidance in preparing and maintaining continuity waqf report as a means of accountability through transparent reporting. In addition to the accountability report itself, the credibility of the institution of Waqf manager also requires the evaluation of performance. As a nonprofit organization, the performance of Waqf institutions may not be determined by certain financial ratios, but how the institution is able to move effectively Waqf assets and how those assets can contribute to the welfare of the people. Therefore, the performance framework Waqf institutions need to be developed. This conceptual paper aims to develop a performance measurement framework for Waqf institutions

The purpose of this paper is to investigate the effects of predominant cultural values on banking disclosure. On one hand, Islamic banks have practiced Islamic principles which are universal for all countries. Islamic banks are expected to provide transparent information especially in terms of social and Shariah(Islamic) compliant information as Islamic banks claim themselves to have social objectives as the prime consideration. Islamic banks also have Shariah supervisory body to ensure that the banking activities and business operations are in line with Islamic requirements. On the other hand, Hofstede‘s cultural dimensions and Gray‘s hypotheses have rendered remarkable contributions in financial and accounting practices among different nations. Examining 45 Islamic banks in 11 Moslem majority countries, this paper focuses on four particular cultural dimensions namely individualism/collectivism, masculinity/femininity, uncertainty avoidance, and power distance and whether these dimensions have an impact on transparency. This study found that two out of four national cultures still have significant effect on the transparency level in Moslem majority countries.

Knowing the factors which can improve performance is very crucial in every organization including Waqf institutions as charitable institutions. Waqf institutions have significant roles in a country to mobilize and distribute public funds. Examining its performance could be useful to assess Waqf’s perpetual existence. In the context of business organizations, financial ratios which rely on the bottom line can be the tools to examine the performance. Financial ratios somehow reflect the financial health and vulnerability of the organizations. Besides that, the organizations frequently compare actual performance with standards or expectations to enhance the organizations’ achievements. Several financial ratios might be applicable to evaluate non-profit organizations although those ratios do not seem sufficient. Financial ratios alone cannot serve as measures of success in non-profits organizations, these organizations have to be assessed in more complex ways, generally dealing with efficiency and effectiveness.

Shariah Audit certification will show the stakeholders that Shariah auditors are skillful and competent in their field. Shariah audit practices should be identified at the professional and certified level. There should be a ‘Certified Shariah Auditor’ to ensure that the Shariah auditor is proficient to perform the task. This issue can be resolved through the certification program. Shariah audit is considered a new area in Islamic finance. It assures that institutions embracing Islamic finance are true to the Shariah principles by them having to undergo periodical audit on Shariah matters. There is a gap in the industry to the certification of Shariah audit as currently no certification is required for Shariah auditors, and there is no professional body offering Shariah audit certification. This research aims to identify the content/scope/ of Shariah audit certification. Data were collected through questionnaire survey method. The subjects for questionnaire distribution are the regulators, Shariah Committee members, Shariah Reviewers in the Islamic banks and undergraduate students. This study contributes on the contents for Shariah audit certification program. The results reveal that Shariah audit certification should at least cover the scope of Shariah audit outlined by Bank Negara Malaysia (BNM), financial statements and internal control systems of an Islamic bank. The contents of certification may also include the area of business policies, process and procedures, zakat calculation and payment, contracts and agreements, and assessment of financial resources. This study implicates that certification in this area will promote professionalism and improve the conduct of Shariah audit in the industry.

Waqf organizations have significant roles in a country to mobilize and distribute public funds. The uniqueness of waqf is that waqf assets should be in existence in perpetuity, therefore the assets must be well managed. Managing public assets must be based on transparency and accountability. The financial reports are prepared to meet the accountability and transparency purposes. Since there was no specifically standardized accounting measurement and report, waqf organisations often adopt the financial reporting practices of for-profit accounting standards to present their financial performance which are not wholly appropriate for non- profit. However, organisations managing waqf assets must also ensure that they follow the unique Islamic principles of waqf such as perpetual existence. Ensuring its accountability through financial reports could be useful to assess waqf‟s perpetual existence. This paper aims to examine the accountability of waqf organizations since accountability is needed to promote public trust in such organizations. Using content and financial statement analysis, this study examines the latest two years (2013-2014) annual reports of five different waqf organization

This study analyzes the effect of audit market competition, client size, and financial distress on shopping opinions. The sample used in this study is a manufacturing company listed on the Indonesia Stock Exchange for 2016 to 2017. The data used in the study were 76 data from the company's annual reports. The data analysis method used was binary logistic regression. This study indicates that audit market competition and client size do not affect shopping opinion practices. However, financial distress has a significant positive effect on the tendency to practice shopping opinion. This indicates that a company with an excellent financial condition chooses to change its auditor compared to the same auditor; this is done because financially, the company can change public accounting

This study aims to analyze the effect of ethical identity index and company size on Islamic banking performance as measured by shariah conformity and profitability (SCNP). The sample in this study were 48 Islamic banking financial reports taken from the 2014-2017 period. The data analysis method used in this study is multiple linear regression with panel data. The results of this study indicate that the ethical identity index affect shariah conformity and profitability, but company size does not affect the performance of shariah conformity and profitability. The implication of this research is that Islamic banking is expected to improve the identity of Islamic ethics through disclosures in financial reports.

The use of rule that origin of muamalah is ibahah (allowed) often causes the practice of sharia banking to be un-creative and not careful about things that are subhat or even haram. Impersonation or modification in addition to the product side also occurs in accounting treatment practices for transactions that occur in Islamic banking. One of them is the treatment of foreign currency denominated transactions that occur in sharia banking. This research uses qualitative method by studying and analyzing fiqih rules on foreign currency denominated transactions that occur in sharia banking. Using the classical fiqh study approach the study concludes that foreign currency-denominated transactions can be grouped into three things: first valuation at the balance sheet date and free of usury, valuation at balance sheet date but prone to usury, and valuation at balance sheet date but not allowed to add assets or corporate earnings. In addition, foreign exchange gains or losses incurred from currency-denominated transactions should take account of the source of the profit / loss first before categorizing it as part of revenues in the sharia bank profit and loss statement

Discretionary accruals in auditing have been the essential factor. Therefore, an analysis of this factor viewed from different styles of audit and IFRS adoption can be more interesting to study. This study discusses financial statement comparability in terms of audit style and IFRS adoption. It took the sample consisting of 43 manufacturing companies listed in Indonesia Stock Exchange; all have published their financial statements for the period of 2010-2013

This study was conducted with the aim of obtaining empirical evidence of the relationship between financial statement manipulation and CFO’s characteristics to the timeliness of financial reporting by using audit quality as a moderator. The data used in this study is 206 observations derived from the financial statements of companies listed in the Indonesia stock exchange for the period of 2012-2015. This research uses moderation regression method with panel data. The manipulation of financial statements in this study was measured using the Benneish (M-Score) model

Whistleblowing system is part of the internal control that has not been widely discussed in accounting research in Indonesia. This study aims to provide empirical evidence about the factors that effect the effective application of the whistleblwoing system in Indonesia. samples of this research are listed companises in Indonesian Stock Exchange in 2013. The analysis method used in this research is data multiple regression. The result of this study indicate that anonymous reporting has a significant influence on the application of the whistleblowing system