This paper discusses the efficiency and productivity of zakat management organizations in Indonesia based on the Malmquist Productivity Index. This type of research is quantitative research. The data used is a time series and cross-section from 2016-2019 using the Malmquist Productivity Index model to see the productivity level of 11 Zakat Management Organizations in Indonesia, using 2 input variables and 2 output variables. The results showed that all observed Zakat Management Organizations experienced an increase in productivity values during the 2016-2019 period, which means that all OPZs increased their achievements in the field of zakat management. Evidenced by the increase in EFFCH above 1 (1.365), PECH (1.243), and SECH (1.098). on the other hand, technology change or TECH decreased below 1 (0.854). This means that the main sources that influence the increase in OPZ productivity during the 2016-2019 period are the high change in efficiency value (EFFCH) and the stagnation of technological innovation change (TECH).

Indonesia's economic condition is currently experiencing a downturn, even though its current growth has increased by 5 percent from before. This will be the impact of Covid 19 that hit the country. This impact has had an impact on the decline of banking in the country, especially Islamic banking since 2020. When compared to the profits obtained since 2019. This study aims to see the performance of Islamic banking when viewed from the current monetary policy. This study uses a qualitative method. Documentation technique for analyzing documents related to Islamic Banking performance. The data used in the analysis includes Islamic Banking Accounting books, research articles, and so on. Based on the results of research conducted that the performance of Islamic banking in the country can survive and experience a very satisfying increase, it can be seen that the increase is happening every year. In semester I/2021, the profit earned was IDR 1.48 trillion, an increase of 34.29%. In 2022 the profit earned is IDR 3.21 trillion, an increase of 42%. From the results of these observations, the current monetary policy carried out by BSI can improve the financial performance of Islamic banking, even though our economic growth is currently experiencing an economic crisis.

This study aims to analyze the factors of millennial employees in DKI Jakarta and West Java in paying zakat on income and services. This study covers the behavioural variables of millennial employees which include zakat literacy, the influence of social media and religiosity as well as other millennial employee characteristics, namely education level, type of zakat recipient institution selected, frequency of zakat payments, and experience in zakat. The millennial working population is represented by residents aged 20-39 years. The distribution of the questionnaire was carried out via google form to 400 people in DKI Jakarta and West Java as respondents. Data analysis using SEM PLS with the results of decisions to pay zakat income and services by millennial employees in the two provinces is influenced by social media and religiosity factors. Information about zakat on social media is believed by the millennial generation and so is the literacy factor regarding the amount of zakat and the conditions for zakat. Then other influences are the level of education, type of zakat payment preference institution, frequency of zakat payments, routine of attending recitations and experience in giving zakat which is believed to influence the decision to pay zakat income and services.

This research aims to determine the impact of Islamic work ethic on job satisfaction with intrinsic motivation mediation variables in millennial generation employees. This type of research uses a quantitative description with explanatory research using a sample of 101 respondents. The data analysis method used in this research is descriptive analysis method, Structural Equation Modeling (SEM) with SmartPLS 3 software. The results show that Islamic work ethic has a significant and positive effect on job satisfaction both directly and indirectly. using the mediating variables of intrinsic motivation and job satisfaction.

The purpose of this study is to examine whether the manufacturing sector, especially the large and medium scale sectors, is a basic sector or not in the Bogor Regency area in terms of the aspect of expanding employment opportunities. The quantitative methods used in this study are (1) Location Quotient (LQ) analysis, (2) labor surplus analysis, (3) multiplier coefficient, (4) specialization quotient, (5) localization quotient. The result shows that the manufacturing sector is the basic sector based on income indicators. However, this sector is not a basic sector based on labor indicators. This shows that the manufacturing sector plays less of a role in expanding employment than other sectors. However, several manufacturing industry sub-sectors are basic sub-sectors. These sub-sectors are the food, beverage and tobacco sub-sector, the textile, apparel and leather sub-sector, the wood, bamboo, rattan, grass and similar sub-sectors including household furniture, paper, paper goods, printing and publishing sub-sectors of chemicals and goods from chemical, petroleum, coal, rubber and non-metallic minerals sub-sectors.

We analyze the role of earnings quality in mediating the relationship between corporate governance and market response. We also observe the relative impact of earnings quality of Islamic and non-Islamic stocks on market response, using 138 firm-years of data from listed companies registered in the Indonesian Institute of Corporate Governance Award from 2008 to 2016. To test the mediating role of earnings quality, we use path analysis, and we use moderated regression analysis to examine the impact of earnings quality on the market for both Islamic and non-Islamic stock. The results show that corporate governance does not directly have a significant impact on market response. However, corporate governance indirectly has a significant influence on market response mediated by earnings quality. The evidence also demonstrates that the better the quality of corporate governance, the better the quality of earnings. The lower the quality of earnings as indicated by the high accrual values, the higher the value of Tobins’ Q as a proxy of market response. These findings suggest the existence of an accrual anomaly in the Indonesian capital market. Finally, this study finds evidence of a higher positive market response to the earnings quality of Islamic stocks than of non-Islamic stocks.

This study aims to propose a model of Zero Waste Accounting in Islamic Financial Institutions in Indonesia and how it is relevant to the achievement of Sustainable Development Goals (SDGs). Due to the nature of the research which is exploration thus the research adopts interpretative approach which is essential to validate the research with “convincingness” approach rather than positivist measures of the reliability, validity of data and the generalization of results. The finding documents that Zero Waste Accounting is in vein with the spirit of Maqashid ul-Shariah that has been embedded as a part of the purpose of Islamic financial institution establishment. Statement of Sources and Uses of Zero Waste Accounting should become one of the additional disclosures. The paper sheds a light the need on Zero Waste Accounting for the accounting standard setters

Indonesian population of overweight bodies continues to grow, it is difficult to find clothing brands that provide plus sizes, especially Muslim clothing. The idea in this study is over size Muslim clothing that has comfortable materials and modern casual designs. This research was conducted by means of in-depth interviews with 30 respondents. After the solution test was carried out, the business model verification was obtained for two blocks, namely the customer segment with the results: Muslims, having a minimum clothing size of XL, college students, employees / workers, minimum income of IDR 3,000,000, Z generations, and online shopping. As for the value proposition, namely: plus size, comfortable materials, plain casual design, and strict quality control. This study applied the 9 Block Canvas Business Model method and focuses on the customer segment and value proposition.

This study aims at Identifying the coconut shell charcoal briquette product specifications needed by the Saudi Arabian retail market are in accordance with the characteristics of the briquette products offered in Indonesia, identifying the potential demand for coconut shell charcoal briquettes in the retail market in Saudi Arabia. Also, analyzing the export procedure of Indonesian - Saudi Arabia coconut shell charcoal briquettes. The research method applied in this research uses a descriptive qualitative approach. According to Darmadi (2013), the research method is a scientific way to obtain data for specific uses. The scientific way means that research activities are based on scientific characteristics, namely rational, empirical, and systematic. The author observes the characteristics of briquettes in Saudi Arabia by identifying and interviewing retail and wholesale briquette sellers. The author found several core criteria that standardize briquette products favored by consumers in Saudi Arabia.The author conducts research on the character of briquette products in the Saudi Arabian market and provides advice to Indonesian briquette entrepreneurs to adjust their briquette product standards in order to enter the Saudi Arabian market, and suggests further research should focus on broader research areas in the Middle East.

This study aims to analyze differences in demographic factors towards retirement planning behavior according to Islamic perspective. This research wants to analyze the influence of clarity of purpose, retirement attitude and potential conflict towards retirement planning behavior according to among the Muslim who is working in a conventional bank and the Islamic Bank. The sample used in this study as many as 270 respondents of both conventional & Islamic Banker in Indonesia. There are two methods that are used in this research which are ANOVA and Multiple Linear Regression. The results identified several demographic variables that were significant such employment status (either working in the conventional bank or Islamic Bank) and income level. Furthermore, some demographic variables do not significant including age, number of dependents and level of education. This research also shows that non-demographic variables such as clarity of purpose, retirement attitudes and potential conflicts affect significantly to influence the behavior of bankers in retirement planning according to Islamic perspective. In conclusion, the conventional Muslim bankers know that they should manage their retirement according to the Shariah value. However, some of them didn’t believe that the Shariah investment instrument can fulfill their desired retirement goals.

An increase in the distribution of PTA Syari'ah financing will also be accompanied by a risk of a bank's confidence level to provide the next facility and an increase in risk that must be borne by the bank in the form of the customer's inability to return the principal of the financing received. The risk of financing related to the confidence of Islamic banks in the world is caused by the character of the debtor's failure to pay for financing. This is what underlies the importance of research on the factors that influence the provision of Islamic PTA financing conducted. The dependent variable used in this study is collectibility and the independent variables are age, education level, marital status, number of dependents, type of company, residence status, position, length of work, income, term of financing, financing objectives, financing ceiling, track record at Bank Indonesia, and branch locations for financing applications. The results of research conducted that of the fourteen variables initially which allegedly affected the subsequent financing facilities turned out to be only four that had a real influence on the subsequent financing facilities provision of Islamic PTA financing at ABC Syariah Bank in Indonesia, namely the level of education, length of work, track record at the Bank Indonesia and branch locations for financing applications. However, the length of work variable has a positive effect on the provision of subsequent financing facilities.

This study aims to analyze the effect of Third Party Funds (TPF), Capital Adequacy Ratio (CAR), Bank Age, Non-Performing Financing (NPF), and Return On Assets (ROA) on the level of risk-taking of Islamic banks in Indonesia and Malaysia. Risktaking in this study is proxied by Financing Asset Ratio (FAR) and Financing to Deposit Ratio (FDR). The data used in this study are the cross-ssection data of Islamic banks in Indonesia. Time-series data of 2010 to 2017 from each of the financial statements of Islamic banks in Indonesia and Malaysia act as research objects. This research uses the panel data regression method and the data run by STATA 12. Based on the analysis, The TPF and the CAR significantly impact the Credit and Liquidity Risk in both observed countries. CAR significantly influenced the credit risk, when the CAR goes up, it is resulted from the addition of equity due to the rise of NPF. Moreover, Indonesia's liquidity risk is caused by the mismatched nature of the Indonesian funding side. On the other hand, the credit risk in Malaysia rises whenever the TPF increase and the Liquidity is caused by the deposit taking and risk taking activity. The introduction of investment account by the Bank Negara Malaysia is among the factors of significant and negative results. This paper urges the Financial Services Authority (Otoritas Jasa Keuangan) to speed up the implementation of Investment Account product in Indonesian Islamic Bank since it will reduce the liquidity risk and at the end will decrease the credit risk

The purpose of this research is to determine wether the financial management variable and financial literacy affect family welfare of muslimah teachers at Selong. 221 repondents were used as the sample in this research. the answers of those respondents were submitted using questionnaire with multinominal logistic regression as the method used to process the data. this research use two independent variable which is financial management variable and financial literacy variable and one dependent variable which is family welfare. the result of this research stated that financial management variable (X1) affect family welfare of muslimah teacher at Selong sub-district while financial literacy variable (X2) wasn’t.

Islamic banking (further referred to as the Bank) faces two significant problems: excessive concentration in Murabaha financing contracts and high cost of funds. These two classic problems directly impact the development of the Bank and give rise to the stigma of a less innovative and unprofitable industry. This research aims to make a new product breakthrough that can help stakeholders overcome the two problems above. Term Deposit Waqf Linked Isthisna (TDWLI) has 4 variants: TDWLI Perpetual Principal, TDWLI Perpetual Principal + Profit Sharing, TDWLI Periodic Principal, TDWLI Periodic Principal, and + Profit Sharing. The TDWLI Periodic Principal is the variant that is most ready to be applied because, in accounting terms, it has been regulated in PSAK 112. In general, this TDWLI product will provide several advantages for banks to reduce the cost of funds (especially in the main variant of Waqf only). It will increase Isthisna financing, referring to OJK data in 2019, only 0.3% of total financing. In terms of accounting treatment, PSAK 112 must be adjusted especially if the Bank will release a Perpetual-based product variant. The main problem with perpetual-based products is the uncommon features. In perpetual, cash waqf cannot be withdrawn or, in other words, eternal. This research recommends that OJK is expected to study this product more deeply to develop healthy and innovative Islamic banking.

The Model of Group Lending has been flourishing in the Microfinance Industry. This model has been used widely to serve the needy and un-bankable group of people by lending money plus interest addition. Islamic finance also embraces this model by omitting the interest and applying the Qardul Hassan to finance the members' daily needs. This divine scheme's problem is the microfinance's sustainability since they have a burden to bear the operational cost due to the non – interest feature of the financing. This paper tries to solve this problem by utilizing the household garbage as the media to repay the Qardul Hassan financing to the Islamic Microfinance Institution (IMFI). This would enable to create more added value product, selling it to get more income and achieving the organization sustainability.

This study aims to determine the effect of Islamic bank’s activity as a zakat intermediator on profitability, efficiency, market share, and growth of Islamic banks in Indonesia. This research also analyses from the literature the possibility of zakat as the funding or financing product. The method used is the panel data method and granger causality. The Independent variable external zakat collection while the dependent variables are ROA, BOPO, Market Share, and Growth. The samples of the research are five Islamic Bank who has done the external zakat collection. The data used are quarterly data with a period from 2013 to 2020. The results of this study indicate that this divine role increase the cost of operation and in the same time decreasing the profitability. The result also stated that the intermediating activities of zakat collection is not significant to push the bank market share, profitability as well as the Bank Growth. However, although in terms of regulation bank cannot be the Amil, in the future, there is potential of zakat can push the Islamic market share and bank growth since the zakat collection, Islamic bank can offer third party funding product as the intermediation between the zakat payer and the Amil zakat whose eligible to collect zakat according to the government regulation.

Purpose – This paper aims to explore different forms and models of integration between Islamic commercial finance and social finance including the problem that arise as well as the solution of each of the models to promote inclusive economic growth. At the end of the paper, the authors have identified the strategy to execute and validate by the decision-makers. Design/methodology/approach – This approach uses two methods which are Delphi and analytical network process (ANP). The authors conduct literature review and four rounds Delphi to construct the integration model, the problem and solution of each model, as well as the questionnaire of ANP. Moreover, using an ANP method, the authors conducted interviews with decision-makers in the areas of Islamic commercial finance as well as social finance, and analyzed the results to identify key models that would create inclusivity and quality of economic growth. To ensure credibility of the results, the authors selected the respondents based on their experience in the fields, as well as their unique perspectives that will complement the group as a whole. Findings – After conducting the four rounds Delphi, the authors found five types of Islamic social and commercial integration which are the ownership, institutional, operational, bottom line and mandatory integration. Based on the analysis of the ANP result, the authors argue that all integration can help the country in attaining with the support of government in terms of making the integration as a vision as well as to push the education of social finance more to the stakeholders. Originality/value – This study is among the emerging studies that explore operational aspects of integration of social and commercial finance within the context of inclusive growth strategy.

The purpose of the study is to analyze the practice of Priority Banking in Indonesia at PT. Bank Syariah Mandiri (hereinafter referred to as BSM), especially in the use of wadiah contracts in priority banking services. The research method is normative legal studies with analysis using Usul Fiqh to identify the presence or absence of usury in priority banking services. Data is obtained through observation techniques, direct interviews and document studies. The results of this study are that there are 3 types of Priority Banking Services offered to customers both from deposits with wadiah or mudharabah contracts, namely Financial Services, Non-Financial Services, and Special Programs for Priority Banking Customers. The three services are funded by BSM internal cash. Priority banking services conducted by BSM violated the provisions of the DSN-MUI fatwa No. 01/DSN-MUI/IV/2000 regarding Current Account and DSN-MUI fatwa No. 02/DSN-MUI/IV/2000 which states that the banks are not permitted to give bonuses if promised in advance. This study concludes that for services which yield material benefits that have a wadiah contract, then it is usury. However, if it yields immaterial benefits, it is not usury so that it is permitted.

Objectives – this research is aimed to compare those epistemological bases to the mindset of Islamic Bank and try to drive the philosophy in practical operation whether based on the Fractional Reserve Banking Sytem (RBS) or 100% RBS and analyze the challenges in deploying the 100%RBS. Methods - This research will be conducted based on an extensive literature review. Results - Based on the epistemological analysis of money and the business cycle as well as the views of Islamic scholars, 100%RBS should be the best for Islamic Bank. There are four types of 100% RBS namely Pure Commodity Money, Sovereign Money, Narrow Banking, and Limited Purpose Banking. To deploy it into the economic system, another philosophical work should be done to choose one of the types and strengthen it so that the theory of 100%RBS can be implemented for the goodness of Islamic Bank. Conclusion - In Conclusions, Based on the epistemology defined by Islamic Scholars, FractRBS has more mafsadah if we compare to the maslahah. Therefore, 100% RBS should be better for the Islamic Bank.

This paper aims to propose a model of investment account based on Islamic Financial Services Board guiding principles. The research figures out some factors affecting the process of deploying investment account, the proposed model, cost - benefit analysis as well as the steps to be taken by Islamic banking stakeholders to install the model in the future. Having reviewed many litetatures related to irregular deposit, investment account as well as the institutional theory, the study found that the adoption of investment account heavily relies on the political factor applied by Bank Indonesia. Law No. 21 Year 2008 that regulates Indonesian Islamic Banking clause 35 stated that Bank Indonesia has coercive power to drive the accounting and governance standard for the Indonesian Islamic banking. Other actors such as Financial Services Authority, National Sharia Board, and Indonesia Deposit Insurance Corporation also do affect the regulation on Investment Account. This paper informs the policy makers to set different regulation on investment account within the practice of dual banking system.