Concept Of Shariah Research Articles

Crowdfunding Sharia Financing Model as Alternative Business Capital Financing for MSMES

In the era of the Industrial Revolution 4.0, there are currently financial product innovations, one of which is fintech (financial technology). Crowdfunding is a fintech product with a Sharia concept, that can be accessed on the internet network. Likewise, it is a form of funding for those who need funds for business development. In the Shariah concept, crowdfunding is a form of work or syirkah where there is a collective effort from several people who come together to finance a business through a digital platform called financial technology. This is a qualitative research, using bibliometric analysis approach. Crowdfunding aims to be an alternative financing, in Indonesia itself. Sharia Fintech had emerged in 2017, the Indonesian Sharia Fintech Association (AFSI) has been formed by the Tazkia Fintech Study Center with members of 8 Sharia fintech companies, the latest data shows that in 2020 the addition of the number of AFSI members consists of 18 members of peer to peer (p2P) lending, 27 members of digital financial innovation (IKD), four members of Sharia equity crowdfunding (ECF), 2 payment members, 2 non-fintech members, and 9 sharia members, and financial partner.
 Keywords: crowdfunding, MSMEs, bibliometric analysis

Introduction to Waqf –Takaful Compensation Model: Adopting the Maqasid Shariah Concept for Socio-Economic Development in Malaysia

Introduction to Waqf –Takaful Compensation Model: Adopting the Maqasid Shariah Concept for Socio-Economic Development in Malaysia

THE HIGHER EDUCATION FINANCING BASED ON ISLAMIC SHARIAH: AN UNCONVENTIONAL APPROACH OF STUDENT LOAN

Quality Higher Education transforms human life into meaningful human resources. Moreover, it brings qualitative changes in humankind and socioeconomic development with the help of extended knowledge and higher skills. But, most of the traditional student loan mechanisms are based on interest (riba) therefore, many devout Muslims are struggling with traditional student financing, as interest (riba) is impermissible in Islamic shariah. This study aims to analyze student financing concepts based on shariah perspective and to evaluate the shariah issues that are associated to its application. The present qualitative study adopts mostly relied primary and secondary sources of Islamic shariah such as Quran, Hadith, Islamic Jurisprudence, and Islamic scholars’ views. The deliberations evolve at reviewing on the shariah concept of Qard-al-hassan, Qard-bil-ujrah, waqf (Islamic trust bank), and takaful. Finally, the present study highlights that the higher education financing based on the shariah concept could also be generalized into education financing that would be interest(riba) free and acceptable to the Muslim community at large.

Management of Community Perception Issues to Ceiling and Floating Rates on Islamic Home Financing Based on Maqasid Shariah Concept

Management of Community Perception Issues to Ceiling and Floating Rates on Islamic Home Financing Based on Maqasid Shariah Concept

Pemanfaatan Tanah sebagai Jaminan Praktik Qard dalam Tinjauan Ekonomi Syari’ah

Some Madurese people realize that the tradition of credit guaranteed by land use has several negative impacts. Apart from being contrary to al-Qur’an and Hadith, this tradition is also detrimental to the community because it results the guarantee provider is no longer being able to take advantage of it. The people of Somalang, Pakong, Pamekasan, Madura are with the tradition of credit guaranteed by land use until now. Actually, there are a number of people who do not agree with this tradition. However, their arguments are often lacking in strength. Considering that this tradition has been running for decades, so it cannot be separated from the live of the Madurese in general and the Somalang people in particular. This is a descriptive qualitative research and using a case study approach. Based on the result of this study, it can be concluded that the tradition of credit guaranteed by land use in Somalang is less profitable for the second party as the recipient of the guarantee. So that, in addition to injure the actual system of credit, this tradition also contradicts the shariah concept of tradition, credit, and the taking of benefit from the land as a guarantee.

The concept of Shariah in Al-Farabi’s philosophy

Politics is one of the most important concepts of Farabi philosophy. According to him, true happiness can only be achieved in a virtuous society. A virtuous society emerges only through a form of government led by the chief ruler (al-rais al-awwal) [Aydınlı, 1987 C. 2, p.2:291-302]. The most important feature of the chief ruler is that he is in contact with Active Intellect. Religion is accepted by Farabi in the virtuous society as the management style and lifestyle applied by the chief ruler. The purpose of this study is to reveal how religion is philosophically understood by Farabi and what is the need for religion in making laws needed in social life. Based on this, the dimensions of the relationship between religion and law have been tried to be reached. In addition, the metaphysical basis of the laws and the role of the philosopher and the prophet in the formation of the laws were also discussed. We tried to answer what kind of features are the laws that will lead to this supreme goal and who should be made by them and how they can be applied and changed in the historical process are also included in the research. Finally, the place of fiqh science in virtuous society has also been analyzed.  Key words: Religion, Politics, Farabi, Interpretation, Fiqh.

Pengaruh Pengelolaan Pembiayaan Agunan Rumah terhadap Peningkatan Nasabah PT. Bank Syari’ah Mandiri (Persero) Kantor Cabang Pembantu Kedaton Bandar Lampung

In the concept of Shariah and conventional perbankkan is equally serves as a financial intermediary so many different products perbankkan sharia is not a product with conventional banks . The purpose of this study was to determine and analyze the effect of home mortgage financing management to increase customer at PT . Sharia Bank Mandiri ( Persero ) Branch Office Kedaton Bandar Lampung . While desaian research used in this paper is a qualitative analysis . Based on the results it can be seen that : ( 1 ) The management of home ownership through Musharaka financing at Bank Syariah Mandiri ( Persero ) Branch Office Kedaton Bandar Lampung is good enough is evident from the implementation of financing the management of home ownership that does not burden the bank's customers and always strive for improvement -Fixes lease quickly if the object is not in accordance with the wishes of the customer . ( 2 ) The management of home ownership through Ijara financing of Bank Syariah Mandiri ( Persero ) Branch Office Kedaton Bandar Lampung has done fairly well in accordance with the provisions of sharia perbankkan .

Issues and challenges in contemporary affordable public housing schemes in Malaysia

Purpose This study aims to examine the issues and challenges in contemporary affordable public housing schemes and proposes an alternative affordable public housing model for low- and middle-income households in Malaysia. Design/methodology/approach The paper applied qualitative research method. Semi-structured in-depth interviews with four government officials were conducted to understand the provision, framework and working mechanism of selected affordable public housing schemes. A focus group with nine participants was conducted with low- and middle-income households to validate pertaining residential issues and problems in affordable public housing schemes. Findings The overall findings reveal that the growing plights of unaffordability, poor maintenance and mismanagement have undermined the performance of affordable public housing schemes in Malaysia. The paper indicates that Islamic Public–Private Housing Co-operative Model (IPHCM) possibly has a comparative advantage in its design and operation and therefore can be implemented as an alternative model to address these issues in contemporary affordable public housing schemes in Malaysia. The findings also offer guidelines to government officials and managers of public housing schemes to implement the IPHCM model that can help in reducing the financial burden on low- and middle-income households, improving maintenance work and enforcing effective management practices with residents’ participation. Research limitations/implications The paper is limited to develop a new Shariah-compliant affordable public housing model. The paper presents a design and defines the underlying Shariah concept and contracts and their working mechanisms in the proposed model. The paper has not considered other related areas in the development of IPHCM model including Shariah and subject matter expert’s perspective, consumer behavioural intention, legal and regulatory requirements. Originality/value The paper has relevance for policymakers and government institutions offering affordable public housing schemes to ensure successful deliverability of sustainable and affordable public housing for low- and middle-income households in Malaysia.

THE CONCEPT OF HALAL IN VISUAL ART MARKETING STRATEGY: A RESEARCH MODEL DEVELOPMENT

Visual art marketing strategy is a crucial aspect to be taken into consideration in order to ensure the continuous development of visual art field. It assists visual art practitioners to keep being productive in their efforts to come out with more art pieces to be sold. A few previous researches featured several marketing strategies for visual arts: nevertheless, there is no attempt to look at visual art marketing from the perspective of Islamic shariah. With uncertainties looming on visual art’s place in marketing world, the researchers recognize the need to study the concept of Islamic shariah in visual art marketing strategies. Based on this identified research gap, this study aims to produce a model that is related to the Islamic shariah concept regarding visual art marketing strategies. As a result, the discussion on the model involves several aspects namely: 1) product; 2) production process; 3) market place; 4) retailer / collectors; and 5) transactions. Recommendation for future research direction in this area is a more comprehensive study on Islamic marketing strategies in visual art.

A PROSPEK PENGELOLAAN KEUANGAN BANK SYARIAH DI INDONESIA

At present, Islamic banking in Indonesia is growing up fastly and very fantastic with the unique financial management system. The global monetary crisis have brought it’s cleverness in the Islamic banking development besouse the world societies, the experts, and the prudence makers desire to apply shariah concept seriously. The Islamic financial institutions (including Islamic banking) appear as one of Shariah concept applications with no refusal. Even it’s excepted because of the real influence, so that Islamic banking is prospecting in the future. Its offers the real investment and benefit (revenue) by profit – lost sharing system. The interest-free concept in Islamic banking operation makes it different from conventional banking that based on interest-fee. Besides, the application of Good Corporate Governance in Islamic banking is expected to be able to increase the precious for stakeholders. The GCG aplication is excpected to increase publics trust to Islamic banking financial management system, maintain the growth of Islamic financial industries and the stability of whole financial system, and bring the Islamic finance institutions into of playing field level that equal with other international finance institutions.

The Application of True Sale Contract In Asset-Backed Sukuk

This article discusses the concept of true sale and its application in sukuk issuance whereby the existence of this concept is vital to ensure the permissibility of sukuk issuance especially for asset-backed sukuk. The purpose of this study is to differentiate the application of true sale contract in asset-based and asset-backed sukuk and to examine whether the concept of true sale involved therein is similar to the Shariah concept of sale. Thus the sukuk underlying contracts are analyzed in order to understand the concept and the practice of both asset-based and asset-backed sukuk. Finally, the study found that the true sale contract is really practiced in asset-backed sukuk but not in asset-based sukuk which make the previous comply with the shariah concept of sale whereby the later although did not apply the true sale contract but still the sukuk is comply with shariah rules. 

INTENSITAS SYARIAH DALAM NEGARA BERDASAR ATAS KETUHANAN YANG MAHA ESA

Sharia is the law of God. The intensity of the Shari'ah refers to the conditio sin qua non for the good sake of mankind. Moreover, the state principles of Indonesia clearly mentions that this country believes in God the Almighty. However, the facts show that the Shari'ah has not become the soul of way of life of the nation. In fact, the concept of Shariah itself in some contemporary Islamic discussions is debatable due to its narrow and improper definition. Consequently debates concerning with the implementation leads serious problems. This article aims at elaborating the concept of Sharia intensity, existence, and its implementation in a state that bases its believe in God the Almighty through philosophical, legal and sociological approaches.

Pre-Signing and Sequence in Contract Execution of Islamic Banking Products

Customer pre-signing of all transactional documents in one sitting is a questionable procedure as it does not follow the required sequence in the Shariah concept of “offer and acceptance”.As “offer and acceptance” or “ijab and qabul” (i.e. sighah) is, according to the vast majority of scholars, an absolute requirement of exchange contracts and can be executed only after the seller possesses the contracted item.Pre-signing in normal circumstances has been seen as either a promise from one party to purchase or to sell, or as an execution of contract without proper ownership by contracting parties.Hence, the study is integral in order to analyse the permissibility of considering pre-signing as offer and acceptance. Furthermore, it is assumed that any non-compliance issues in the execution of a contract will affect its validity. Therefore, this study aims to explain the Shariah view on the sequence of contract execution in Islamic banking products, and the Islamic banks' practices in executing contracts in vehicle financing, house financing and personal financing.The paper applies the qualitative research method comprising of document analyses, fiqh muqaran and interviews with the stakeholders.This paper suggests that “offer and acceptance” should be done in a proper manner as described by Islamic jurists and that modern technology, especially communication technology, should be used to overcome pre-signing needs.In a nutshell, this study contributes in sharpening the practices of Islamic banks to comply with contractual sequence as required by Islamic law.

ILMU KANURAGAN AT ROHMATUL UMMAH ASSALAFY PESANTREN OF JEKULO KUDUS

Pesantren are one source of knowledge, especially in Indonesia. Almost in every district in Java region in particular there is a boarding school, from which inhabited tens to thousands of students. The style of education offered also varied, from the shape of the Salaf to modern. There is also a yellow book offers study programs in an effort to preserve the concept of shariah brought by salaf scholars who in fact are the inheritors of the prophets. In addition to studying the book of yellow, there is also a boarding school who study science kanuragan (supernatural power) or martial arts. All have their respective advantages which aims to preserve Islamic values berasas on the Qur’an and hadith. Yellow Book and science kanuragan into a Pesantren tradition that can not be released. Science kanuragan very beneficial, especially before the independence of Indonesia. Therefore, the students participate in running the missions and fight against criminals and invaders. Science kanuragan , when it plays a lunch the students to fight for independence and the provision of da’wah. Teaching science kanuragan felt to be more urgent for the “protection” in the face of the enemy. At that science to be excellent kanuragan interesting to study.
 
 Keywords: ilmu kanuragan, pesantren, Jekula kudus