Fara'id and Wealth Management

Waqf Development for Responsible Consumption and Production

Aam Slamet Rusydiana — 2024-01-15

The discussion on responsible consumption and production is summarized in the twelfth SDGs goal. On the other hand, waqf is an instrument of Islamic social funds that has a sustainable nature and has the relevance of waqf to the SDGs, so it has the potential to be developed in its role in responsible consumption and production and its impacts. This study seeks to see the waqf development model that is relevant to the goals of the SDGs by determining the priority of the waqf model that can be applied in Indonesia which is in line with the objectives of SDG-12. The results of the study indicate that the Waqf & ZIS model is the right model to support the achievement of the twelfth goal of the SDGs, namely responsible consumption and production. This study also proposes a waqf-based waste management system that is suitable for this purpose.

Analysis of Fatwa DSN-MUI No.105 on Capital Guarantee Issues in a Mudharabah Contract

Abrista Devi — 2024-01-30

This study critically examines the Fatwa MUI No. 105 on sharia ruling of capital guarantee in a mudharabah contract in Islamic bank practices. Some opinions from sharia Fatwa which is issued by International Fatwa Issuing-Bodies and Classical Muslim Scholars were used to obtain the holistic view on mudharabah capital guarantee. This study employs qualitative approach to assess the opinion of sharia scholars and utilizes inductive approach to summarize the data or information that are collected. The main data of this study is fatwa MUI No.105, Muslim scholars’ opinion from Fiqh or Ushul Fiqh literature, and group of international fatwas that are issued by reputable fatwa-issuing body. The study found that the MUI Fatwa No.105 which is stated that mudharib can guarantee mudharabah capital voluntarily contradicts to majority of four mazaahib, International Islamic Fiqh Academy and AAOIFI that state the mudharib is not allowed to guarantee the capital of the mudharabah. In addition, the Fatwa was not included the aspect of Amanah in its stipulation. However, under sharia methodology of maslahah, mudharib is still allowed to provide capital guarantee in certain situations: first, if mudharib is doing negligently in business, second, mudharib willingly impose themselves to guarantee the mudharabah capital, third, afraid of loss of potential customer, and lastly, mudharib voluntarily guarantee only the capital not profit.

Bibliometric Analysis of Islamic Economics and Finance (IEF) Research on Indonesian Scopus Q1 Journals

Aisyah As-Salafiyah — 2024-01-18

In 2020, there were 4 Indonesian Scopus Q1 journals that examined sharia economics and finance, namely IJIMS, QIJIS, Studia Islamika and JII. Therefore, the purpose of this study is to present a bibliometric meta-analysis and visualization of the top trends of the theme articles from the Indonesian journal Scopus Q1. This study uses a journal database to analyze the percentage of the number of publications, the most widely used topics, the methodological approach, the top authors, the top agencies and the top countries where the research objects are located. Indonesia is the most influential country in the number of top article writers, top agencies and the most popular research object countries. The most widely published articles are QIJIS journals with a percentage of 42%, IJIMS with a percentage of 33%, Studia Islamika with a percentage of 17%, and JII with a percentage of 8%. This research can be used by readers to understand the general picture of sharia economic and financial article trends in the Indonesian Scopus Q1 journal and to know its contributors/authors, their institutions, the countries of their research and the topics they use.

Islamic Insurance: How Far has it been Researched?

Aslam Mei Nur Widigdo — 2024-01-31

The revival of the Islamic finance business is marked by the number of Islamic financial institutions operating such as in the fields of banking, insurance, leasing, pawnshops, hotels, cooperatives and other types of financial institutions. The public is more familiar with Islamic banking in the practice of Islamic finance. But actually, Islamic economics is not synonymous with Islamic banking. Another Islamic financial institution that follows the trend of growth and development is Islamic insurance. This study aims to determine the development map and trend of Islamic Insurance studies published by reputable journals in the field of Islamic Economics and finance. The data analyzed were more than 353 publications of Scopus indexed research publications. The results showed that the keywords that often appear in research on the theme of Islamic Insurance are divided into 7 specific study clusters. The results also fully explain tree-map, trend topic, thematic map and thematic evolution. In the future, topics related to Islamic insurance need to be of concern to researchers because it is one of the least researched topics by Islamic finance academics compared to other topics.

Finding Solutions for Productive Waqf Management in Indonesia

Nur Nazima Ulfa — 2024-01-24

Waqf has a contribution to the economic development of a country, which can reduce government spending, equalize income distribution, reduce poverty and can increase economic growth. However, at present the potential for waqf has not been used optimally in Indonesia. There are many factors that cause not optimal management of waqf, therefore the author tries to analyze the management of productive waqf in Indonesia seen from 3 elements: problem elements, strategic elements, and institutional / stakeholder elements using Interpretive Structural Modeling (ISM) and the Delphi method. The results of this study of elements of problems which are the highest ranks are the less of educational or public understanding of waqf, less of public trust in Nazhir institutions and weak political will of authority holders. While the highest ranking of the elements of the strategy is the support of regulations / legislation on law. Then the highest rank of the related institutional elements are BWI, Ministry of Religious Affair (MoRA), and DSN-MUI.