This paper aims to examine the existence of multiple institutional logics among a number of organisations within the international Islamic financial architecture (IIFA) whose main purpose is to promote and support the development of Islamic financial institutions (IFIs) across the globe and how IIFA relates to the role of Islamic financial reporting standards.
The authors review websites of 11 IIFA’s constituent organisations and undertake 7 in-depth, semi-structured interviews with senior members of a selection of these organisations to identify the dominant logics by which their role and (inter)action within the IIFA are shaped.

The study findings reveal evidence of competing (and shifting) logics and political interests that seem to have led to contradictions and inconsistencies among the constituent organisations. The authors explain this by proposing a framework consisting of religion logic, market logic and corporate logic that intertwines with the underlying economic system and acts as sources of identity–legitimacy–authority for the respective organisations.

The authors bring to light some key issues that may pose a threat to the sustained existence of IFIs. The authors adapt the institutional logic framework and incorporate it into religion logic within the context of Islam (i.e. hifdzul-din as the first Maqasid ul-Shari’ah), resulting in some fresh theoretical perspective that may inform future research.

Islamic financial institutions offer a different paradigm from conventional institutions. From corporate governance (CG) viewpoint, it embodies a number of interesting features since equity participation and profit-and-loss sharing arrangements form the basis of Islamic financing. These financial arrangements imply different stakeholder relationships and governance structures, and distinct from the conventional model since depositors have a direct financial stake in the bank's investment and equity participations. On top of that, the Islamic bank is subject to an additional layer of governance since the suitability of its investment and financing must be in strict conformity with Islamic law and the expectations of the Muslim community. Other form of governance such as accounting standards have also been an issue whether they have met the reporting requirement of Islamic financial institutions that carry title as “Islamic” as there is no uniformity. Therefore, there should be concerted efforts to revisit the existing good CG and accounting standards for Islamic financial institutions.

The application of cash waqf in the general public has not developed widely compared to its considerable potential. This study aims to show how public awareness and inclination of the community in understanding the existence of cash waqf and trying to find normative reasons that become obstacles to the implementation of cash waqf. This study used quantitative methods and by descriptive approach to describe the results through an in-depth discussion. Respondents consisted of 390 people from various backgrounds spread across Indonesia, such as religion, age, education, income, and province. The findings indicate that, in general, the knowledge of the Indonesian people regarding cash waqf is still shallow in the classifications mentioned in this study, because many people still didn’t know well what waqf is. Moreover, most of the respondents stated that infaq is more convenient than waqf. However, this is driven by several obstacles that need to be considered when designing educational and outreach methods in the future. The role of this research is expected to lead to the fulfillment of the potential of cash waqf, which has such a significant function in society. This study could be used as a formulation of a socialization strategy to attract wakif candidates in Indonesia.

تتضمن هذه الدراسة على قيمة اهتمام تفسير إرشاد العقل السليم بقضية وضع الإظهار مكان الإضمار، فهذا التفسير له منهج الذي التزم به في عرض هذه القضية. من أهداف هذه الدراسة إبراز منهج أبي السعود في عرض القضية وضع الظاهر مكان الضمير، ومعرفة الآيات التي فيها وضع الظاهر مكان الضمير، والوقوف على الأغراض في قضية وضع الظاهر مكان الضمير عند أبي السعود. وهذه الدراسة استعملت المنهج التحليلي لما لها من الإقامة بتركيب الأفكار وتقويمها ورجوع العناصر إلى أصولها وتتبعها في التأثير على من جاء بعده. واستنجت هذه الدراسة على أن هناك تقريبا بضعة مواضع التي تكلم صاحب إرشاد العقل السليم بقضية موضع الإظهار مكان الإضمار، كما بين أن هناك الأغراض المختلفة لهذا الوجه البلاغي من خلال سورة يونس إلى سورة يوسف

Background – The high unemployment with the educational background of college graduates shows that the need for entrepreneurial attitudes and abilities to be taught. As one of the agendas of the Ministry of Education and Culture, education of character in the higher education can be collaborated with entrepreneurship education. The concept of entrepreneurship character education in the context of higher education is expected to be able to make students become entrepreneurs in the future

Purpose – This study aims to analyze how the role of universities in developing entrepreneurship character education.

Research methodology – This research is a qualitative-quantitative research using Analytic Network Process (ANP) as a analysis techniques. The respondents of this study consisted of 2 categories, namely academics totaling 5 respondens and entrepreneurship practitioners totaling 4 respondents.

Findings – The findings of this study are; first, the aspects that support the development of entrepreneurship education in higher education consist of three aspects: (a) the vision and mission of the campus that focuses on entrepreneurship, (b) Achievement policies and strategies in the context of entrepreneurial character education, and (c) Support of Campus Facilities and Infrastructure that support the entrepreneurial character education process. Second, the priority aspect of the role of universities in developing entrepreneurial character is the vision and mission of an entrepreneurship-based campus. The vision and mission of an entrepreneurship-based campus can be supported by a university strategic plan accompanied by sufficient funding and cost support. As a case analysis, this study compares several concepts of entrepreneurship character education in several campuses in Bogor.

Research limitations– This research focuses solely on the context of higher education in generally. Further research is needed, especially in the aspect of education, especially the entrepreneurship education curriculum that supports the vision and mission of an entrepreneurship-based campus.

Originality/Novelty is the uniqueness of the research. Research on entrepreneurship character education with a college context is still small. Research adds to the science of entrepreneurship education in higher education.

This research aims to determine the effect of the endorsement and product quality on online shopping interest on the cosmetic brand EMINA. By using a descriptive quantitative approach, the sampling technique used is random sampling by distributing questionnaires to 100 millennial generation women in Bogor. This study found the endorsement program and product quality have a positive and significant effect on online shopping interest.

Indonesia is one of the countries with the highest number of online buyers. One of the potential target markets of e-commerce (B2C) is Z generation, a group of young people who spend most of their time accessing information from websites, including e-commerce. This study aimed to find out the effect of trust and purchasing intention model in the context of online shopping. This study used Structural Equating Modeling (SEM) approach. The sampling technique employed was convenience random sampling with a total of 300 respondents. This study found that perceived trust significantly impacts on purchase intention. Interestingly, perceived risk have negative effect on perceived trust while other variables, namely, product description, perceived site quality, enduring and sitational involvement have a positively effect on perceived trust

Wakaf Uang adalah instrumen keuangan Islam yang sangat urgen dan menjadi bagian dalam syariat Islam. Dari perspektif eksistensinya, wakaf uang sebagai hal yang baru di Indonesia. Keberadaan wakaf uang di Indonesia muncul setelah Majelis Ulama Indonesia mengeluarkan  fatwa tentang bolehnya wakaf uang tahun 2002. Dan peluang pengembangan itu menjadi lebih besar lagi setelah disahkannya rancangan Undang-Undang Wakaf menjadi Undang-Undang Nomor 41 Tahun 2004 perihal Wakaf. Dengan adanya Undang-Undang Wakaf tersebut memberikan harapan kepada semua pihak dalam upaya pemberdayaan ekonomi rakyat, di samping untuk kepentingan peribadatan dan sarana sosial lainnya. Masalah inti dalam dalam makalah ini adalah, bagaimana potensi wakaf uang yang ada dapat memberikan dampak yang signifikan terutama untuk sektor pendidikan seperti pesantren dan lainnya. Dengan demikian tujuan penelitian ini adalah untuk mendapatkan gambaran potensi wakaf uang di Indonesia serta dampaknya dalam dalam upaya pemberdayaan ekonomi umat terutama lembaga-lembaga pendidikan agama di Indonessia. Metode yang digunakan dalam makalah ini adalah metode study literature, melalui penjelasan deskriotif teori yang berhubungan dengan judul, yang diperoleh dari jurnal, buku dokumentasi, dan media lain yang relevan.

To analyze the understanding and application of fiqh muamalah at Tanah Abang Market Traders Block B.Design/methodology/approach–The method in this research is Qualitative research methods with a phenomenological approach with nine respondents.Findings–The results of the research in this study are 88% do not understand but apply and 11% understand and apply in the pillars of bai, 83% understand and apply 17% do not understand and do not apply tothe theme of valid bai requirements, 100% do not understand and apply to the qadbh theme, 66% understand and apply 33% do not understand and do not apply to the theme of khiar, 94% understand and do not apply 6% do not understand and do not apply to the theme of usury, 81% understand and do not apply 19% do not understand and do not apply to the theme of gharar, 100% understand and do not apply to the theme of dzalimResearch limitations/implications–The scope used in the study only covers places that are not too large and broad in scope, and this study only uses 2 variables. The pandemic conditions hampered the research process, so that when the interview process the results were not optimal.Originality/value–The results of the research can beused as a basis for reference for educational institutions to actively provide socialization to traders, as well as religious institutions to be able to provide scientific studies on fiqh muamalah to market traders at Tanah Abang Block B

his study aims to measure Sharia happiness index of 33 provinces in Indonesia from 2014 to 2017

Design/methodology/approach – This research is descriptive with a quantitative approach, a modification of happiness index in 33 provinces in Indonesia conducted by BPS (Badan Pusat Statistik) published in 2014 and 2017 HLMS (Happiness Level Measurement Survey) by adding aspects that are in accordance with Sharia.

Findings – Average happiness index for Indonesia based on BPS HLMS in 2014 was 68.79, increasing to 71.47 in 2017. The highest happiness index was province of North Maluku (73.12), and the lowest was province of Papua (64.25). Meanwhile, the average Sharia happiness index in Indonesia is 70.53. The highest average score was of Yogyakarta (74.11), and the lowest score was province of Papua (59.47).

Research limitation/implication – The Government and Policy Stakeholders should pay attention and support to the factors that affect the level of religious satisfaction, which are proven to have a positive impact on the welfare and happiness of the community, where the majority of the Indonesian population is Muslim.

Originality/value – Studies on sharia happiness at the provincial level are rare. Shariah happiness journals tend to discuss happiness at the conceptual level, very few describe Shariah happiness at the application level. This research enriches Islamic discourse in the context of macroeconomics which can be used as a reference for further research and studies

The study is aimed at examining the determinants of retail investor to invest in small medium enterprise’s (SME) sukuk through Fintech Securities Crowdfunding (SCF) using the extended theory of planned behaviour (TPB). The cluster random sampling was applied and survey was conducted by distributing online questionairre to retail investors who already invested through SCF in Indonesia officially licensed by the OJK (Authority of Financial Services). The data of 218 respondent were analysed using SmartPLS 3.2.9. The result suggested that attitude, subjective norm and perceived behaviour control were statistically found significant to intention to invest in SME’s sukuk. The result also showed that other variables observed, knowledge, religious factor and risk & return have positively significant impact on attitude toward SME’s sukuk

The study is aimed at examining the determinants of retail investor to invest in small medium enterprise’s (SME) sukuk through Fintech Securities Crowdfunding (SCF) using the extended theory of planned behaviour (TPB). The cluster random sampling was applied and survey was conducted by distributing online questionairre to retail investors who already invested through SCF in Indonesia officially licensed by the OJK (Authority of Financial Services). The data of 218 respondent were analysed using SmartPLS 3.2.9. The result suggested that attitude, subjective norm and perceived behaviour control were statistically found significant to intention to invest in SME’s sukuk. The result also showed that other variables observed, knowledge, religious factor and risk & return have positively significant impact on attitude toward SME’s sukuk investment. Interestingly, sharia compliance factor not significantly impact to attitude.

Although Indonesia is the country with the largest Muslim population in the world, the halal industry faces several risks related to Shariah compliance. Following the enactment of Halal Assurance Law No. 33 of 2014, halal certification has become mandatory in Indonesia. Before, halal certificate was voluntary. The objective of this study is to discuss on the development of halal governance in Indonesia covering Halal Act, related government regulations and decrees from Ministries related to halal assurance and food security. In summary, the changes in halal governance in Indonesia from time to time is to support the halal assurance in the country. Therefore, it has to include all producers, including small and micro businesses.

Although Indonesia is the country with the largest Muslim population in the world, the halal industry faces several risks related to Shariah compliance. Following the enactment of Halal Assurance Law No. 33 of 2014, halal certification has become mandatory in Indonesia. Before, halal certificate was voluntary. The objective of this study is to discuss on the development of halal governance in Indonesia covering Halal Act, related government regulations and decrees from Ministries related to halal assurance and food security. In summary, the changes in halal governance in Indonesia from time to time is to support the halal assurance in the country. Therefore, it has to include all producers, including small and micro businesses.

The study aims at discussing the concept and practice of Islamic Stockbroking, and examining the opportunities of Islamic Stockbroking in Malaysia.The study adopts library research to discuss the concept of Islamic stockbroking. It also employs a semi-structured interview with industry players to prognosticate the future development of Islamic stockbroking in Malaysia. The study reveals that stockbroking is not a new concept in Islam. Classical jurists have discussed thoroughly the concept of samsarah (brokerage) from an Islamic perspective. The current practice of Islamic stockbroking in Malaysia employs two tiers of wakalah contract. Furthermore, the study concludes that the future of Islamic stockbroking in Malaysia is very promising, triggered by drivers on both the supply side and the demand side. The large Muslim population, wealth and economic growth are among the key factors for the development of Islamic stockbroking from the demand side. On the other hand, the Shari‟ah compliance of 89% of Malaysian stocks, Malaysia‟s position as an Islamic finance hub, and the natural progression of Islamic finance are all factors underpinning the future of Islamic stockbroking from the supply side. This study will add new literature in contemporary Islamic finance as not much study has been conducted on the subject matter

Purpose – Tawarruq (Islamic commodity financing) has evolved as the most ubiquitous concept in Malaysia’s Islamic banking industry. Nevertheless, the extensive use of tawarruq has invoked a number of Sharīʿah (Islamic law) concerns in its practice. This study aims to investigate the Sharīʿah non-compliant (SNC) phenomena in the practice of tawarruq financing in Malaysia. Design/methodology/approach – This study adopts qualitative research methodology, combining both descriptive and content analysis. A self-administered questionnaire was distributed to 16 Malaysian Islamic commercial banks to unveil the Sharīʿah non-compliance issues in the application of tawarruq in Islamic banks (IBs) in Malaysia. Findings – This study found that some practices of tawarruq in Malaysia might not comply with Shari’ah, mainly because of the improper sequencing of contracts. The study also discovered that IBs adopt different approaches in dealing with SNC events and the income derived therefrom. Finally, the study noted the influence of board of director/management on certain Sharīʿah decisions particularly about the treatment of non-halal income. Research limitations/implications – The findings of the study serve as a reference to industry players and regulators in formulating Shari’ah non-compliance risk management framework for tawarruq practices. Originality/value – The survey on SNC issues in tawarruq practice constitutes the first of its kind in the existing literature.

The aim of this review paper is to know more about the service quality of Banking Sector available in Konkan Region through literature survey. In the 21st century, service quality and customer satisfaction are directly proportional to each other for achieving success in any industry and the same is applied to the banking sector in India. Customers play an important role in Banking Industry in India. Therefore Banks in India are responsible to fulfill needs of customers to retain survival and success in today’s modern era. Success of any organization depends upon their services quality and customer relationship with an organization. Retention of customer and business is totally depends upon services provided by banks to solve the complaints of customers instantly. This review paper summarizes the relationship between services quality, customer satisfaction and success of organization through literature survey in Banking Sector.

Progressive Islamic education is an educational reconstruction that seeks to function the mind (intelligence) as optimally as possible in religious life, practice experiences and actual problems in education and is able to anticipate changes by thinking projectively (visionary) and acting proactively. This research is classified as a qualitative descriptive research. This study aims to describe the three basics of progressive Islamic education in educational development. This type of research is field research with case studies at MI Muhammadiyah Gonilan and SDIT Muhammadiyah Al Kautsar Gumpang Kartasura. This data collection method is carried out by observation, interviews and documentation, while data analysis is carried out interactively which begins with data reduction, data presentation and drawing conclusions. The results of the study show that the implementation of the three basics of progressive Islamic education is indicated by special characters in schools, namely smart schools, experience learning and educational for sustainable development. Smart school is carried out by optimizing human reason or thinking ability by balancing science and religion. Experience Learning makes experience a valuable lesson for educational progress, and educational for sustainable development shows that progressive education is always oriented.

Purpose
The chapter aims to examine the challenges and the opportunities for the development of Islamic stockbroking in Malaysia. Methodology
The chapter adopts library research to discuss the concept of Islamic stockbroking. It also employs a semi-structured interview with industry players to prognosticate the future development of Islamic stockbroking in Malaysia. Research Findings
The study concludes that the future of Islamic stockbroking in Malaysia is very promising, triggered by drivers on both the supply side and the demand side. The large Muslim population, wealth and economic growth are among the key factors for the development of Islamic stockbroking from the demand side. On the other hand, the Shari’ah compliance of 89% of Malaysian stocks, Malaysia’s position as an Islamic finance hub and the natural progression of Islamic finance are all factors underpinning the future of Islamic stockbroking from the supply side. However, lack of qualified human resources, political inconsistency, information technology infrastructure, product innovation as well as public perception are obstacles to its development. Value
This chapter will add new literature in contemporary Islamic finance, as not many studies have been done on the subject.

This study proposes some strategies to strengthen Islamic financial inclusion in Indonesia. The study employs the Analytic Network Process (ANP) by interviewing Indonesian Islamic finance experts, including academics, regulators, and practitioners. The ANP results show that the strategies to strengthen Islamic financial inclusion in Indonesia, ranked based on their significance level, are product compatibility (0.28), financial infrastructure (0.25), human development (0.20), and demand creation (0.18). The study provides actionable recommendations for Islamic Financial Institutions (IFIs) in Indonesia when formulating their appropriate roadmaps and strategies for Islamic financial inclusion. This study is a pioneer work that develops an institutions-based strategy for Islamic financial inclusion in Indonesia based on expert judgments.