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Penelitian

Tanggal Publikasi: 11 Jul 2017

Developing a Model for Corporate Governance and Conflict of Interest Deterrence in Shari’ahbased Cooperatives

Different from a conventional cooperative, a Shari’ah-based cooperative observes Shari’ah principles. As these cooperatives offers Islamic financial products and involves in Shari’ah compliant investment, they are bound to observe Shari’ah governance structure, transparency, disclosure of information and strict compliance with Shari’ah principles. Compliance with the Shari’ah principles will strengthen public confidence in the credibility of the system of the Islamic Muamalat particularly in the cooperative movement. Due to the infancy of Shari’ahbased cooperative industry that needs for proper governance measures, this paper aims to discuss corporate governance in Shari’ah-based cooperatives in the attempt to propose a model for resolving stakeholders’ conflicts of interest

Penelitian

Tanggal Publikasi: 9 Jun 2017

Unleashing the potential of cash 'waqf

Waqf (an Islamic endowment of property to be held in trust and used for a charitable, or religious purpose; or a Muslim religious or charitable foundation created by an
endowed trust fund) has a long history in Islam. It has played — and, in many cases, continues to play — a pivotal role in the
advancement of socio-economic well-being of the Muslim community. Many phenomenal architectural relics and public infrastructures, all over the world, from the Atlantic to the Pacific, throughout the centuries, were funded by waqf. AlAzhar University in Egypt, University of Cordova in Spain and Al-Noori Hospital in Damascus, to name a few, are among the public projects financed by waqf funds. Some waqf institutions have survived for more than a millennium.
Despite its phenomenal achievements, the management of waqf also experienced
failures

Penelitian

Tanggal Publikasi: 1 Jun 2017

Urgensi Fiqih Nadzar Dalam Proses Pernikahan

The least knowledge of fiqh in Islam resulted in many people who violate it. such as marriage issues. many people do not know about fiqh in the marriage process. So many who do wrong before marriage with courtship or free sex that is prohibited in Islamic law is prohibited.in Islamic law one of the processes in marriage is to see (nadzar) the prospective wife or husband. Seeing a potential wife or husband to be one cause to achieve happiness in the family. Prophet Muhammad advised his followers to see his future wife, so do not regret after married.


 

Penelitian

Tanggal Publikasi: 10 Apr 2017

Unveiling IASB standardization projects and its influence on the position of Takaful Industry in Indonesia

Purpose – This paper aims to explore the alignments of the Takaful industry between the Islamic and the IFRS requirement and the subsequent social and political consequences. 

Design/methodology/approach – Meta analysis of thorough examination of 1* to 4* relevant peer-reviewed journals in the academic journal guide 2015 of the Association of Business School from the period when first IFRS was issued in 2005 to 2012 and where Indonesia declared to fully adopt IFRS. The examination also includes some other appropriate Indonesian and Islamic accounting publications. The paper employs comparative analysis between IFRS, AAOIFI and the financial reporting standards practiced by Takaful industry to examine the hindrance towards the standardization process. 

Findings – It is shown that the literatures emphasis not only on the technical matters related to financial reporting standardization but also on the complex arrangement in different country settings. Learning from Indonesian experience, the literatures suggests that neoliberalism is piercing through different parts of economic and political setting of the country’s infrastructural powers leading up to the influence of financial reporting standardization process. 

Originality/Value- The paper contributes to the existing ontological arguments whether the Takaful industry is a mere business entity that has no specific requirements for financial reporting standards.

Penelitian

Tanggal Publikasi: 10 Apr 2017

Unveiling IASB standardization projects and its influence on the position of Takaful Industry in Indonesia

Purpose

This paper aims to explore the alignments of the Takaful industry between the Islamic and the International Financial Reporting Standards (IFRS) requirement and the subsequent social and political consequences.

Design/methodology/approach

Meta-analysis of thorough examination of 1* to 4* relevant peer-reviewed journals in the academic journal guide 2015 of the Association of Business School from the period when first IFRS was issued in 2005 to 2012 and where Indonesia declared to fully adopt IFRS. The examination also includes some other appropriate Indonesian and Islamic accounting publications. The paper employs comparative analysis between IFRS, Auditing Organization for Islamic Financial Institution and the financial reporting standards practiced by Takaful industry to examine the hindrance towards the standardization process.

Findings

It is shown that the literature emphasis not only on the technical matters related to financial reporting standardization but also on the complex arrangement in different country settings. Learning from Indonesian experience, the literature suggests that neo-liberalism is piercing through different parts of economic and political setting of the country’s infrastructural powers leading up to the influence of financial reporting standardization process.

Originality/value

The paper contributes to the existing ontological arguments whether the Takaful industry is a mere business entity that has no specific requirements for financial reporting standards.

Penelitian

Tanggal Publikasi: 31 Mar 2017

Tawarruq: The New Kid in Islamic Banking. 

the authorities however, need to put certain parameters and limitations in the use concept

Penelitian

Tanggal Publikasi: 8 Feb 2017

Human Capital Competitiveness in ASEAN Economic Community (AEC): The Role of Regulation, Indonesia Experiences

The AEC is an economic integration between ASEAN countries with the creation of a free market generally in the context of capital, goods and services and labor. The AEC opens the gate for all countries to invest and have better mutual cooperation. Indonesia experienced a big leap from 50 to 37 in the World Economic Forum (WEF) competitiveness ranking. As the largest population in the ASEAN, Indonesia must work harder to compete with the advanced educated labor force from Singapore, Malaysia and Thailand. Some challenges to develop the human capital. The problems that exist in the context of human resources and labor in Indonesia today such as lack of expertise, low education, inadequate facilities, low competitiveness, unemployment, imbalance salaries, low productivity and many others, but these problems do not make Indonesia retreat and avoiding the free market competition. MEA 2015 should not lead Indonesian labor plunged in their own home, but MEA expected to drive Indonesian workers able to exchange experiences and advance skill from other countries

Penelitian

Tanggal Publikasi: 1 Jan 2017

Kontribusi Lembaga Zakat Terhadap Pencapaian Sustainable Developments Goals (SDGs)

Sustaiable Developmnet Goals (SDGs) merupakan program yang terintegrasi, bahwa tidak ada seorangpun yang terlewatkan (No one is Left Gehind). Tentunya untuk mencapai agenda 2030, perlu memanfaatkan semua sumber daya dalam negeri untuk pencapaian Tujuan Pembangunan Bekelanjutan (SDGs). Rumah Zakat sebagai lembaga amil zakat menyelaraskan programnya dengan target SDGs. Tujuan penelitian ini adalah untuk mengetahui sejauhmana kontribusi rumah zakat terhadap target SDGs. Penelitian ini merupakan kajian deskriptif dengan metode studi literatur. Data yang telah diproses dianalisa dengan pendekatan kuantitatif, perupa porsentase dan angka keberhasilan program. Kemudian dianalisa sesuai jenis intervensi dari masing-masing indikator SDGs. Hasilnya pertama rumah zakat telah meningkatkan pendapatan member sebesar 70% atau kontribusi dengan menurunkan 0,0004% dari jumlah penduduk miskin. Kedua, Penurunan pravalensi gizi buruk/kurang kepada 176 balita. Rata-rata penghematan uang belanja sayur dan buah sebesar Rp.5.174.000/bulan, melalui program kebun gizi dan urban farming. Ketiga, penurunan AKI & AKB dengan jumlah kelahiran hidup sebanyak 672, layanan imunisai 2.893, dan KB 3.972. Penurunan penyakit menular melalui penguatan UKBM dengan membina 133 posyandu dan memberikan manfaat sebanyak 11.970 orang dengan 2.394 aktifitas. Keempat, Kontribusi terhadap Angka Partisipasi Sekolah usia 7-12 sebanyak 6.393 anak, usia 13-15 sebanyak 1.127 anak, usia 16-18 sebanyak 499, dan usia 19-24 sebanyak 28 anak. Kelima, Mendorong kesetaraan gender yaitu, partisipasi angkatan kerja member 74,1% dan karyawan 37,4%. Indek paritas gender (IPG) pada angka partisipasi murni sekolah juara sebesar 106,7%. Keenam, air bersih dan sanitasi, melalui program water and sanitation for all yang manfaatnya telah dirasakan oleh …. Kepala keluarga. Tujuan SDGs kesebelas, dengan indikator ketersediaan rumah yang nyaman, melalui pembangunan relokasi rumah tinggal warga korban bencana banjir bandang Garut untuk 10 rumah. Tujuan SDGs ketigabelas, dengan indikator mengurangi kerugian ekonomis akibat bencana, jumlah bantuan yang diberikan kepada 57.076 jiwa. Untuk mengurangi resiko bencana dilakukan program pemberdayaan dalam menghadapai resiko bencana, dengan 3.090 partisan aktif. Tujuan SDGs keempatbelas, mengelola dan melindungi ekosistem laut, dengan penanaman 16.400 pohon Mangrove. Tujuan SDGs ketujuhbelas, membangun kemitraan dengan NGO Internasional untuk misi kemanusiaan. Adanya program tersebut merupakan bentuk dukungan nyata sektor swasata terhadap pemerintah dalam upaya pencapaian SDGs.

Penelitian

Tanggal Publikasi: 1 Jan 2017

Affordability and Expenditure Patterns towards Sustainable Consumption in Malaysia

Safe drinking water is needed for survival. Households have to pay the water bill monthly. However, lower income households are sometimes unable to afford the cost. This study examines water access and affordability among households in Malaysia and the determinants of water affordability using cross-sectional data and multiple regression. The paper expects that the bill for basic water consumption is inversely related to average income. This means that policy makers need to redesign the water tariff to improve the quality of life of lower income households.

Penelitian

Tanggal Publikasi: 1 Jan 2017

MAS}LAH}AH PERFORMA (MaP) Sistem Manajemen Kinerja Berbasis Maslahah Edisi 2

Secara akademis, buku ini mendukung pendapat beberapa peneliti yaitu Sen (1992), Mubyarto (1997), Gardiner (2002), Swasono (2003) dan Chapra (2007) yang menyatakan bahwa etika, moral dan akuntabilitas sosial memegang peranan penting bagi kelanggengan pembangunan ekonomi. Kandungan buku menjelaskan bahwa etika, moral, akuntabilitas sosial adalah fondasi kemaslahatan. Adapun kelanggengan kemanfaatan organisasi di dunia dan akhirat merupakan indikator tercapainya kinerja kemaslahatan organisasi. Pencapaian di atas dapat terwujud dengan menyelaraskan pengelolaan organisasi terhadap tugas manusia sebagai khalifah Allah di bumi (Bung Hatta dalam Swasono, 1992), Khan (1994), Chapra (2007)

Penelitian

Tanggal Publikasi: 1 Jan 2017

EXPLORING STRATEGIES TO ENHANCE ISLAMIC BANKING’S ROLE TO RAISE CASH WAQF FUNDS

Cash Waqf funds has an important role to empower the economy of Ummah. Unfortunately, the collected cash waqf fund is still very small compared to its potential number. Against this background, this research aims to design systems that may enchance the role of Islamic banks in cash waqf fund raising. This paper employed Interpretative Structural Modeling (ISM) by conducting literature studies and In-depth interviews with some regulators, practitioners and academicians. The result shows that experts and practitioners agreed that the strong legal support on cash waqf is necessary to enhance the role of Islamic Banks to raise cash waqf funds. It creates a sense of secure to the stakeholders. Furthermore, it requires a strong coordination between Indonesian Waqf Board (BWI), Ministry of Religious Affairs, Bank Indonesia (BI), Financial Services Authority (OJK), Nazhir and Islamic Financial Institutions that may receive cash waqf (LKS-PWU) in order to boost the role of Islamic Banks. The main obstacle that must be tacled soon is the lack of education about cash waqf.

Penelitian

Tanggal Publikasi: 1 Jan 2017

KAJIAN NILAI HADIS DAN ISRAILIYYAT DALAM TAFSIR MIRAH LABIDKAJIAN NILAI HADIS DAN ISRAILIYYAT DALAM TAFSIR MIRAH LABID

Tafsir Mirah Labid adalah karya tafsir yang dihasilkan oleh Nawawi alBantani yang merupakan ulama Nusantara yang prolifik. Mirah Labid adalah satusatunya tafsir 30 juzuk berbahasa Arab yang ditulis oleh ulama Nusantara dan kitab tersebut masih dijadikan rujukan tafsir di Nusantara khasnya di Indonesia. Dalam kitabnya tersebut, Nawawi banyak menggunakan hadis sebagai salah satu elemen penafsiran al-Qur’an dan juga riwayat israiliyyat. Kajian ini dilakukan untuk mengetahui nilai hadis dan penggunaan riwayat israiliyyat dalam tafsir Mirah Labid. Reka bentuk kajian ini adalah kajian kualitatif. Ianya merangkumi kajian takhrij dan nilai hadis yang dianalisis daripada sanad dan matan. Kajian ini menggunakan metode kajian dokumen atau kajian kepustakaan dengan pendekatan secara analisis. Kajian mendapat terdapat 231 hadis digunakan oleh pengarang. Daripada 231 hadis yang terdapat dalam tafsir Mirah labid, 108 hadis adalah hadis sahih (46,75%), 22 hadis adalah hasan (9,5%), 40 hadis adalah dac if (17,3%), 21 hadis adalah dac if jiddan (9,1%), 2 hadis adalah mursal sahih (0,8%), 8 hadis adalah mursal (3,46%), 3 hadis adalah munqatic (1,29%), 9 hadis adalah mawduc (3,89 %), 12 hadis tidak dijumpai sanad (5,19%), 3 hadis adalah bukan hadis (1,29%), 2 hadis la asla lah (tiada asal) (0,8%), 1 hadis tidak thabit (0,43%). Kajian ini juga mendapati Nawawi menggunakan metodologi penggunaan riwayat israil’iyyat yang sama dengan kebanyakan tafsir klasik. Riwayat-riwayat isra’iliyyat yang beliau nukil dalam tafsirnya tidak diberikan penjelasan, kritik (naqd), mahupun penilaian terhadap kedudukan riwayat tersebut sehingga terdapat riwayat yang bertentangan dengan ismah para Nabi ataupun kisah/akhbar yang boleh membawa khurafat.

Penelitian

Tanggal Publikasi: 1 Jan 2017

Optimization of Syirkah to Develop Economic of Ummah Based on Al-Quran

There are 237 million Muslims in Indonesia, 86.9% as of 2021 from 273 million people. Meanwhile, Indonesia's wealth is managed and controlled not by Muslims, even though there are Islamic businessmen/financial institutions, but in business practice the developed contracts are buying and selling contracts (murabahah) not cooperation contracts (musyarakah). The author is moved to make a study that discusses the meaning of syirkah and its concept in Islam, and how syirkah can improve the people's economy. This research is a qualitative research with library research method, while the analysis used is descriptive analysis. The results of this study indicate that syirkah is one of the Islamic sharia in the field of muamalah whose implementation has been exemplified by the Prophet Muhammad and his noble companions, so that understanding of syirkah must be disseminated to the public, and carried out with the right guidelines according to the Shari'a in order to improve the economy of the people.

Penelitian

Tanggal Publikasi: 2 Des 2016

The emergence of waqf bank: a social welfare alternative in Indonesia

Rapid growth of Islamic Bank for the last decades shows a massive positive impact not only for the muslim itself but also for the non-muslim because the unique dan different offered system. Unfortunately, the Islamic banking industry nowadays only touches on a few minor aspects of the contribution to increase prosperity of the "small" peoples. However, 56.5 millions unit of Micro and Smal-Medium Enterprises (2012) has contributed 60% of Indonesian GDP and about 97% of labor force are become a strong reason for Indonesia to have better and stronger economy. Thus, waqf bank issue raises as a capital source to figure out this problem. This paper tries to explore further possibility development of waqf bank as one of alternatif solution to achieve social welfare and poverty alleviation.

Penelitian

Tanggal Publikasi: 2 Des 2016

The Framework of Maslahah Performa as Wealth Management System and Its Implication for Public Policy ObjectivesThe Framework of Maslahah Performa as Wealth Management System and Its Implication for Public Policy Objectives

Muslims are encouraged to plan their lives economically and financially in order to achieve the objectives of Shariah. The intention to conduct Islamic economical and financial planning must be aligned with the application of Maqasid Shariah, which emphasizes on the protection of essential needs of Muslims that include preservation of wealth. 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 (Firdaus, 2014). 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. This study proposes the framework of Maslahah Performa as wealth management system in order to highlight its contribution to more comprehensive, rational and realistic answers to contemporary public policy issues in Islamic economic system and to thereby increase awareness of Maslahah Performa approach in structuring and developing public policy products. For this purpose, the authors examine the position of the Maslahah Performa concept in public policy. They also present the essential elements of Maslahah Performa and explain how this approach may contribute to better solutions for various public policy issues and challenges

Penelitian

Tanggal Publikasi: 28 Nov 2016

Performance Measurement in Halal Industry: An Initial Proposed Concept Based on Maqasid Shariah

Halal industry is one of the most growing industries in the world. Halal industry refers to the industry which is in line with Islamic principles and requirements. The emergence of this industry aims to fulfill the need of Islamic compliance products and services. Surprisingly, the industry has been growing in both muslim and non-muslim countries. Assesing the performance of the industry would be notable to ensure that it obtains its objectives. The proper performance measurement should highlight both business perspective and religious aspects. This is a conceptual paper aiming to propose an initial performance measurement concept based on Islamic objectives (Maqashid Al-Shariah). Referring to some previous studies, this paper proposed twelve ratios as performance proxies for halal industry

Penelitian

Tanggal Publikasi: 8 Nov 2016

(The Role of Goverment in Management of Zakat in Indonesia and Malaysia)

Zakat is one of the five pillars of Islam. The law of zakat is obligatory on all muslims, but many of them still did not implement it. According to the research conducted by the Badan Amil Zakat Nasional (BAZNAS) and the Islamic Development Bank (IDB) potential zakat in Indonesia in 2012 amounted to Rp.217 trillion (RM58 billion/ USD18 billion), but the collection of zakat in 2013 only Rp.2.1 trillion (RM650 juta/ USD200 juta) or around one per cent. The Indonesian muslims population are 210 million peoples (BPS-Statistic Indonesia: 2012), but the collection and distribution of zakat distinction is still far from its potential. The imbalance between the amount collected and the potential zakat is a major problem. This paper focuses on the role of government in the implementation of zakat in Islam and confront the government of Indonesia and Malaysia’s role in the management of zakat. Studies show that the Islamic view on the management of the zakat as the sole ruler and as punishment for defaulting lender to pay zakat is very important, because it relates to improving the welfare of society and as one of the country’s financial resources. In Indonesia zakat management is still done by private institutions, communities and individuals that anyone can do it either with or without permission from the government. As a result the government should take over the management of zakat, as is the case in Malaysia, management of zakat is done by the government/state, so collection of zakat will increase and distribution of zakat will be effective, efficient and even at national lavel, although there are still people who can collect or distribute zakat, but must be with the consent of the government/local-state

Penelitian

Tanggal Publikasi: 1 Nov 2016

Concept of sustainable development from Islamic perspective

Nowadays the issue of sustainable development are being discussed seriously around the world. This is because to ensure that the need for the future generation is not neglected during the process development of economics. Therefore, this paper attempts to re-look the role of Islamic’s element in the sustainable development. This paper using qualitative research as a method of this study. The researchers suggest that the element of Islam must be consider as one of the element to measure the sustainable development.

Penelitian

Tanggal Publikasi: 15 Okt 2016

TAKAFUL MODELS: THEIR EVOLUTION AND FUTURE DIRECTION

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.

Penelitian

Tanggal Publikasi: 13 Okt 2016

Customer Relationship Management Analysis: The Factors Enhanching Customer Loyalty in Indonesia Islamic Bank

Purpose – The study aims to determine the role of trust, image and customer satisfaction in improving customer loyalty to Islamic banks. Research examined new indicators related Islamic banks to conventional banks. Study also analyzed differences in the loyalty of two groups of observation, deposan and financing, loyal customer and dual customer. Design/methodology/ approach – The study consisted of 3 stages: in-depth study of literature, interview and survey. The unit of analysis is seven major Indonesin Islamic Banks: Bank Muamalat, Bank Syariah Mandiri, BNI Syariah, etc. The analysis methods used in testing the hypothesis is Structural Equation Modeling by using Partial Least Square. Findings – Customer trust has positive and significant impact to develope customer loyalty. Both Image and customer satisfaction significantly influence on building customer trust. Image also has a significant effect on increasing customer satisfaction. The new indicator for image, improvement and innovation as well as strategic and sustainability proved to be valid and reliable in measuring the image of Islamic banks. The new indicator for trust, legal compliance proven valid and reliable in measuring customer trust dimension. Research also shows differences loyalty between groups of depositor customer and financing customer.