Purpose – The purpose of this paper is to assess liquidity risk management (LRM) practices in Indonesian Islamic banking industry during the period 2000-2007. Design/methodology/approach – The paper constructs the LRM index (100 scale) which is composed of individual index of asset side; liability side; LRM policies; and the overall LRM index. Findings – The index produces a “good” grade for the liquidity management practices in the Indonesian Islamic banking industry, represented by three Islamic banks which capture 82 percent of the total market share of the industry. However, the breakdown of the index of every Islamic bank suggests various achievements. Research limitations/implications – It is found that the practices of LRM are not optimal yet based on some considerations explained in this paper. Further progressive actions have to be taken by the regulators and all industry’s players to improve the LRM practices. Originality/value – To the best of the author’s knowledge, this is the first paper trying to assess how good the LRM in Indonesian Islamic banking is.

Financial performance as a measuring instrument to know the process of implementing financial resources owned by the company. The Covid-19 pandemic has impacted the banking sector, resulting in poor financing due to debtors' disbursements as a result of the large number of people losing their jobs and difficulties in financing payments. This research aims to analyze the financial performance of Islamic Banks during the Covid-19 pandemic, using records of annual financial statements from 2011 to 2020 through Multiple Linear Regression testing and linearity testing of the model used Ramsey test. As a result of this study, the results of the t test found that the Capital Adequacy Ratio (CAR), Operating Costs to Operating Income (BOPO), Financing to Deposit Ratio (FDR) had a positive and significant effect on financial performance (ROA) while Not Performing Financing (NPF) had a negative and insignificant effect on financial performance (ROA). Furthermore, simultaneously capital adequacy ratio (CAR), Operating Costs to Operating Income (BOPO), Financing to Deposit Ratio (FDR) and Not Performing Financing (NPF) significantly influenced the financial performance (ROA) of Sharia banks in Indonesia

This research aims to analysis the dropshipping model according to Islamic jurisprudence. The research is focused in completeness of the terms and conditions of sale and purchase in dropshipping system and how its related to three economic disaster namely zhulm, riba and ghoror. The novelty from this research is dividing the object of transaction into two categories, ribawi goods and non ribawi goods and critisize the arguments that allowed dropshipping transaction. Literature study is used to define the dropshipping model, normative descriptive is used to define the contract in dropshipping according to Islamic jurispridence, content analysis is used to find the syar’i solution for dropshipping. The result shows that the origin law in dropshipping is prohibited (haram) because its contain of riba nasi’ah for ribawi goods and selling before ownership for non ribawi goods. The syar’i solutions that found for dropshipping are modification in ijab qobul, wakalah bil ujroh (the dropshipper become wakil from consumer) and ba’i salam, but the last solution is marjuuh, because the capital is not handed out at the beginning of majlis

This study aims to analyze the effect of work environment, compensation and religiosity on turnover intention of Islamic Banking employees in Indonesia. The questionnaire was filled out by 209 employees of Islamic banks in Indonesia and the data obtained was processed using Structural Equation Modeling (SEM) method with SmartPLS software version 3.2. Work environment and compensation negatively affect turnover intention. Religiosity is the only variable that posit ively influences turnover intention. This paper is one of the pioneer research in the field of Human Resource Development (HRD) focusing on the matter of turnover intention which combining three independent variables (work environment, compensation and religiosity) with at least 50% Islamic Banks in Indonesia took place as samples. This research is expected to benefitting management in Islamic banking so they could establish proper strategic policy in the field of employment, especially those related to turnover intention to control employee turnover rate in order to improve the performance of Islamic banking in Indonesia in the future.

The study aims to determine the effect of Collectivism, Eco-Literacy, Green Advertising, Spirituality and Environmental Concern on the intention to buy environmentally friendly products All Fresh on Indonesian Muslim consumers. The research consisted of three stages namely the study of literature. Then a field study was conducted by distributing questionnaires to 270 respondents. The analysis method used is Structural Equation Modeling (SEM) using AMOS. The results showed that the variables Collectivism, Eco-Literacy, Green Advertising and Spirituality showed a significant and positive effect on Environmental Concern. Furthermore, these variables show a significant and positive relationship to the attitude toward green products (ATGP) of Indonesian Muslim consumers.

This study aims to analyze the determinants of millennial employees’ decisions in the Provinces of DKI Jakarta and West Java on the payment of zakat on income and services. The study analyzed the behavioral variables of millennial employees which included zakat literacy, the influence of social media and religiosity and the characteristic factors of millennial employees which included: muzakki education level, type of institution where zakat was paid, frequency of zakat payments, and experience in zakat as factors for millennial employees in doing decision to pay zakat on income and services. The millennial working population is represented by residents aged 20 - 39 years. The distribution of questionnaires is done through Google forms. Respondents who filled out the questionnaire were 400 persons whom 64 people of them live in DKI Jakarta Province and 64 people of them live in West Java Province. Data analysis using SEM PLS. The decision to pay zakat on income and services among millennial employees in DKI Jakarta Province and West Java Province is influenced by social media and religiosity factors. Information about zakat on social media is believed to be valid by the millennial generation so that it becomes a determining factor in paying zakat on income and services. Another factor that determines the millennial generation in paying zakat on income and services is the literacy aspect, namely understanding the amount of zakat and the terms in zakat, mustahik, muzakki, amil, nishab. Furthermore, millennials who regularly follow studies on Islam tend to pay more attention to paying zakat on income and services. Thus, the aspect of religiosity becomes one of the determining factors. Then the decision to pay zakat on income and services among millennial employees is also influenced by factors of education level, type of zakat payment preference institution, frequency of zakat payment, and experience in zakat. Where the higher the education, the higher the ability to pay zakat and trust in zakat management institutions/institutions are also believed to be factors for millenials as muzakki to pay zakat. Then the frequency of zakat payments that have been made and experience in paying zakat are believed to have an influence in the decision to pay zakat on income and services.

Research on funeral funds on a homeowner association has never been performed before. Meanwhile, previous studies on the funeral fund in insurance companies, 'rukun kematian,' and mosques are used as a reference. The research aims to analyze whether the funeral funds managed by informal institutions correspond with the micro takaful principle. Method is a descriptive analysis is used by comparing the survey in two groups, namely residential and village areas, of 31 communities spread across Java Island. The research variables developed include calculation, collection method, and amount of funeral fund contribution, alongside the calculation and amount of benefits. Although the funeral funds' variables have not fulfilled the micro takaful principle, there are interesting findings. These include that the calculation of contribution for the two groups, namely the residential and village areas, is performed by mutual agreement through community deliberations. In the village, the collection method is by direct payment from members of the public to the officers, which is different from the residential areas, where it is picked up by the officers. Furthermore, the amount of funding contributions to the community in the villages is around Rp. 3.001 and Rp. 5,000, while the total is over Rp. 10,000 in residential areas. The informal funeral funding scheme (IFFS) has become a mutually beneficial culture of Indonesian society, which fosters strong humanity and brotherhood. This scheme can be formulated in micro-takaful cooperatives to ensure that the benefits trickle down for every member of the community, including Muslims and non-Muslims.

The study aims to develop Maslahah Performa (MaP) as methodology of wealth management system. MaP is maqasid al-shari’ah based organizational performance management system (Firdaus & Mukhlis, 2014). The objective of shariah (maqasid alshari’ah) is to protect and preserve: religion, life, progency, intellect and wealth, could be developed as foundation of organizational performance management system. Aspects of maslahah daruriyah those are religion, life, progency, intellect and wealth, to be developed into various of organizational performance orientation. Furthermore, goal of wealth management is to achieve falah. Objective of wealth management is to get maslahah. Maslahah based wealth management can be derived from cycle of acquiring and utilizing wealth. Acquiring wealth can be carried out by fullfilling worship orientation, internal process orientation, talent orientation, learning orientation, customer orientation and wealth orientation. Utilizing wealth can be carried out by allocating asset to wealth orientation, customer orientation, learning orientation, talent orientation, internal process orientation, worship orientation

The purpose of this study is to analyze the effect of attitude has a significant influence on agent intentions, the influence of subjective norms on agent intentions, the effect of self-control on agent intentions in marketing halal mart products. This study uses the Theory Planned Behavior method and structured equation modeling (SEM) to see the effect of agents on the intentions and performance of agents to market halalmart products through measurement in terms of attitudes, subjective norms and self-control. The results of the research data show that attitudes, subjective norms and self-control have a significant and positive influence on the intentions of the agents to improve performance in marketing halalmart products

The purpose of this study is to provide information about the Sharia equity fund performance with Sharpe, Treynor and Jensen-Alpha methods in Indonesia. This study is a descriptive study using a quantitative approach. The study population was Sharia equity fund in 2015 to 2018. Samples of this study were 21 mutual funds by purposive sampling method. The analysis tool in this study is the method of measuring performance based on risk adjusted return that includes Sharpe, Treynor, and Jensen-Alpha with Microsoft Excel application. During the observation period (2015-2018) there was Sharia equity fund outperform compared with markets (IHSG and ISSI). Best Sharia equity fund is HPAM Syariah Ekuitas, OSO Syariah Equity Fund, and Lautandhana Saham Syariah.

There are several programs under the Ministry of Research, Technology and Higher Education and Ministry of Religious Affairs of the Republic of Indonesia in many areas which decreased its performance level until it ended at the closing of the operational permit and even the revocation of the college permits concerned. Organizational performance is a series of performance starting from level of the organization, working units to individuals. The research on performance organization uses university based on maslahah with case study at Institut Agama Islam Tazkia. Purpose this study aims to develop a performance model based on maslahah using the framework of BAN-PT Accreditation, Maslahah Performance (MaP), and Quality Management System (QMS) ISO 9001. Methods of collection of sample are purposive sampling. Primary data collection techniques by collecting documentation directly and by distributing questionnaires to the ranks of the lecturers and the management of STEI Tazkia. Data analysis techniques by calculating the results of the questionnaire with Likert scale. The results showed that the development model of performance began with the preparation of the vision and mission, strategic objectives. It is suggested to all universities that offer the program of Islamic economics, finance, banking, and accounting; it should have a good vision, mission and objective

Islamic Insurance has to increase its profit, especially premium as the main income to maximize the profit. It’s also the purpose of the Sharia Unit Bumiputera Muda 1967 General Insurance. Therefore, it needs strategies and efforts and minimizes the obstacles. One of them is the premium receivables that have matured but not collected or called the outstanding premium. This study aims to analyze problems of the premium receivables that have matured but not collected or called the outstanding premium. Therefore, it needs strategies and efforts and minimizes the obstacles. This study uses a qualitative-quantitative method using Analytic Network Process (ANP). The analysis is focused on internal-external problems and short-term-long term solutions from Sharia Unit Bumiputera Muda 1967 General Insurance that are expected to overcome these problems. The results showed that the most priority problem is internal problems, as follows: premium payment and billing system, internal control, and less effective business processing. Meanwhile, the most priority solution is short-term, as follows: communication and confirmation, performance and operational effectiveness, and structural appreciation and punishment. The results are expected to be implemented by insurers and support the regulator to establish specific policies related to this issue

Kinerja bisnis berbasis shari> 'ah seharusnya diukur dengan sistem pengukuran kinerja berbasis maqasid shari> 'ah. Bisnis berbasis shari> 'ah yang diukur dengan menggunakan sistem pengukuran kinerja konvensional maka hasil pengukurannya menjadi bias. Penelitian ini bertujuan untuk mengukur kinerja PT. Asuransi Takaful Keluarga (PT. ATK) dengan menggunakan mas}lah}a score card (MaSC). Penelitian menunjukan bahwa PT. ATK memiliki kinerja hasil 0,691. MaSC memiliki range kinerja hasil: 0,000 mengindikasikan bahwa bisnis tidak memberikan kemaslahatan dan 1,000 mengindikasikan bahwa bisnis memberikan kemaslahatan. PT. ATK memiliki kinerja: orientasi ibadah (0,110), orientasi proses internal (0,166), orientasi tenaga kerja (0,083), orientasi pembelajaran (0,166), orientasi pelanggan (0,083) dan orientasi harta kekayaan (0,083). PT. ATK memiliki kinerja proses sebesar 0,666. MaSC memiliki range kinerja proses: 0.000 mengindikasikan bahwa bisnis tidak melaksanakan MaSC dan 1.000 mengindikasikan bahwa bisnis telah melaksanakan MaSC secara penuh. PT. ATK memiliki kinerja proses: Mengidentifikasi fondasi kemaslahatan (0,111), Mendapatkan perilaku kemaslahatan (0,111), Menentukan sasaran strategis (0,111), Menentukan ukuran mas}lah}a (0,111), Menetapkan target (0,000), Menentukan inisiatif strategis (0,111), Melakukan pengukuran kinerja (0,111), Melakukan evaluasi hasil pengukuran (0,00), Melakukan perbaikan dan peningkatan (0,000)

The paper analyses four influencing factors toward the Indonesian sovereign sukuk price in the secondary market during the period January 2015 to June 2018, namely liquidity, coupon, maturity and the Indonesia composite index (ICI). The model used is multiple linear regression analysis with time series data obtained from the Ministry of Finance of Indonesia. The results of the analysis show that liquidity had a significant positive effect on the sovereign sukuk price in the secondary market, that coupon also had a significant positive effect; maturity had a significant negative effect, while the Indonesia composite index had a significant positive effect.

This paper analyzes the management of the pilgrimage fund to the concept of Islamic wealth management and the management of the pilgrimage fund and its compliance with the maqāṣid al-sharī'ah. The first is done by analyzing the management of hajj funds by BPKH on the management of Islamic wealth. The second is done through interviews with academics, regulators, experts and practitioners. Descriptive processing is done through Strategic Assumption Surfacing and Testing (SAST). The analysis is done by selecting the 'important' and 'definite' variables. The results showed that the determinants of Hajj fund management according to Islamic wealth management were contracts, zakat and transparency. Hajj fund management policies for the protection of religion, including the setting of a fair and transparent haj quota, building infrastructure facilities for the pilgrimage, ensuring terms and conditions Life protection through the use of halal vaccines, providing and funding Hajj monitors, improving catering, lodging, transportation and health services and providing congregational data to the Ministry of Health. Protection of reason through improving the quality of rituals. Protection of assets through transparency in the management of hajj funds, direct investment in harmony with sharia, and management of hajj funds in Islamic banking.

Purpose – The purpose of the study is twofold: first, it is to develop each aspect of ma
sla
hah
darūriyah (essential needs), i.e. dīn (faith/religion), nafs (soul), ʿaql (intellect), na
sl (descendants) and mal (wealth), into various aspects of organisational essential needs; second, it is to formulate ma
sla
hah-based performance measurement. Design/methodology/approach – The research is an exploratory study that uses a two-stage design: defining the research question and developing the research design. The research question is how each element of ma
sla
hah
darūriyah can become an element of organisational essential needs. The research design developed is to formulate ma
sla
hah-based performance measurement. Findings – The study concludes that ma
sla
hah
darūriyah could be developed as a basis for identifying organisational essential needs. The five elements of ma
sla
hah
darūriyah are developed into the following organisational essential needs: worship orientation, internal process orientation, talent orientation, learning orientation, customer orientation and wealth orientation. Ma
sla
hah-based performance measurement uses five variables: strategic objective, measure, formula, target and strategic initiatives and applies the modified plan – do – check – action cycle: performance planning, performance implementation, performance evaluation and performance action. Practical implications – Organisational essential needs can be developed by Islamic financial institutions (IFIs) into performance measurement. IFIs have six essential needs that can be developed into performance variables. Key performance indicators that can be developed for each need are worship orientation (social responsibility, regulatory compliance and Sharīʿah compliance); internal process orientation (innovation process, digital adaptation and employee satisfaction); talent orientation (career development, talent pool, compensation and benefits); learning orientation (training programme, training evaluation and return on training investment); customer orientation (customer engagement, customer satisfaction, customer survey and promotion programme); wealth orientation (profitability, cost-cutting, share prices, dividends, cost efficiency and financial sustainability). Originality/value – This paper contributes to new knowledge. The study attempts to discuss the organisational essential needs based on the ma
sla
hah
darūriyah concept, while previous studies discussed organisational needs based on Maslow’s hierarchy of needs. In developing performance measurement, organisational performance is measured in a balanced manner. According to the concept of ma
sla
hah, not only financial factors but also worship, internal processes, talents, learning and customers define

The research objective was to analyze: The ef ect of self-service technology, service quality, reputation, customer value on customer loyalty in e-banking services for Islamic banks in Indonesia through customer satisfaction. The method used is quantitative with path analysis. The data collection technique is a questionnaire. The results of the study are as follows: 1. There is no direct ef ect of self-service technology on customer satisfaction in E-Banking services. 2. There is no direct ef ect of service quality on customer satisfaction in E-Banking services. 3. There is a direct ef ect of reputation on customer satisfaction in E-Banking services. 4. There is a direct ef ect of customer value on customer satisfaction in E-Banking services. 5. There is a direct ef ect of customer satisfaction on customer loyalty in e-banking services. 6. There is no direct ef ect of self-service technology on customer loyalty in e-banking services. 7. There is a direct ef ect of customer value on customer loyalty in e-banking services. 8. There is a relationship between self service technology and service quality of Islamic banks. 9. There is a relationship between customer value and reputation of a Sharia bank. 10. There is a significant ef ect of self-service technology, service quality, reputation, customer value on customer loyalty in Islamic banking e-banking services in Indonesia through customer satisfactio

Institusi bisnis berbasis shari>’ah saat ini tumbuh dengan pesatnya, namun sayang kinerjanya belum dapat diukur dengan tepat karena belum ada metode pengukuran kinerja yang cocok untuk bisnis berbasis shari>’ah. Masih minimnya penelitian tentang pengukuran kinerja bisnis berbasis shari>’ah menyebabkan kinerja bisnis berbasis shari>’ah belum dapat diukur dengan akurat. Beberapa usaha telah dilakukan untuk mengukur kinerja bisnis shari>’ah tetapi karena metode pengukurannya menggunakan pengukuran kinerja bisnis konvensional sehingga hasil pengukuran kinerja cenderung tidak tepat. Penelitian ini bertujuan untuk mengusulkan metode pengukuran kinerja bisnis berbasis shari>’ah dengan pendekatan mas}lah}ah sesuai maqosid shari>’ah. Penelitian ini merupakan pengembangan dari pengukuran kinerja bisnis Balanced Scorecard (BSC) dan Malcolm Baldrige Criteria for Performance Excellence merujuk pada konsep mas}lah}ah. Hasil penelitian menunjukan bahwa konsep mas}lah}ah dapat dijadikan sebagai dasar pengukuran kinerja bisnis berbasis shari>’ah secara tepat berlandaskan maqosid shari>’ah. Pengukuran kinerja bisnis berbasis shari>’ah dilakukan dengan sembilan langkah pengukuran kinerja: Mengidentifikasi item yang seharusnya ada pada orientasi mas}lah}ah, Mendapatkan perilaku yang dibutuhkan bagi tercapainya orientasi mas}lah}ah, Menentukan sasaran strategis orientasi mas}lah}ah, Menentukan ukuran (measures) untuk mengukur kinerja mas}lah}ah, Menetapkan target yang ingin dicapai, Menentukan inisiatif strategis yang akan dilakukan untuk mencapai target, Melakukan pengukuran kinerja, Melakukan evaluasi hasil pengukuran kinerja, Melakukan perbaikan dan peningkatan Kinerja bisnis berbasis shari>’ah diukur pada masing-masing aspek mas}lah}ah yaitu orientasi ibadah mengukur kinerja agama, orientasi proses internal mengukur kinerja jiwa, orientasi tenaga kerja mengukur kinerja keturunan, orientasi pembelajaran mengukur kinerja akal, orientasi harta kekayaan mengukur kinerja harta. Oleh karena bisnis tidak dapat dilepaskan dari pelanggan sehingga kinerja aspek pelanggan harus diukur dengan orientasi pelanggan. Pengukuran kinerja bisnis ini dinamakan Mas}lah}ah Scorecard.

Companies are competing to improve quality in the face of global market competition and so is Islamic banking industry. According to the Indonesian Islamic Banking Roadmap 2015-2019 issued by the Financial Services Authority (OJK), two out of the seven policies to be implemented are to improve service quality and product diversity, and to improve the quality and quantity of HR and IT. In any development of any industry, especially in the world of Islamic banking, the keys to improving competitiveness are companies’ service quality and performance. This research aims to analyze the effects of TQM implementation on service quality and performance of Islamic banks. Findings of this research show that TQM has a significant effect on service quality. Similarly, service quality has a significant effect on performance of Islamic banks as well. However, TQM has no direct significant effect on the performance of Islamic banks.

This research aims to develop the implementation cycle of performance management based on benefit (maslahah performance). Maslahah performance consists of 6 orientation namely worship orientation, internal process orientation, learning orientation, talent orientation, customer orientation and wealth orientation. The study was conducted through in-depth literature study of previous research related to the concept of maslahah, the performance management system of maslahah, the balanced scorecard (BSC) and the quality management system. Research shows that maslahah performance can be applied with the foundation of PDCA cycle that is Plan - Do - Check - Action. The Plan step is developed into 5 steps: strategic planning, identifying the safety foundation, determining the maslahah behavior, determining the size and agreeing the performance contract. Step Do is developed into steps to implement performance. Check step was developed into a monitoring step. Action Steps are developed into follow-up steps.