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Can Al-Faruqi’s Islamization Deals with Islamic Economics? Revisiting Al-Faruqi’s Islamization of Economics Ma'ruf, Aminudin; Kurniawan, Adityo Wiwit; Fatoni, Muhammad Iqbal; Alam, Shahbaz; Hakim, Lukmanul
TSAQAFAH Vol. 19 No. 2 (2023): Tsaqafah Jurnal Peradaban Islam
Publisher : Universitas Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/tsaqafah.v19i2.9337

Abstract

This study attempts to examine al-Faruqi’s Islamization of knowledge concept in relation to Islamic economic studies. The paper employs a qualitative research method with the library and literature study approach. The study finds that al-Faruqi’s concept of Islamization of knowledge has put the fundamental principles of Islamization of economics. The concept covers the steps of mastery of the modern discipline, disciplinary survey, and mastery of the Islamic heritage. The study henceforth urges stakeholders of Islamic economic studies to consider al-Faruqi’s Islamization concept in their development of Islamic economic sciences. Furthermore, the paper encourages future research on exploring the application of al-Faruqi’s Islamization of knowledge concept driving the future of Islamic studies.
A REVIEW OF ZAKAT INSTITUTION FINANCIAL PERFORMANCE: A DECADE STUDY FROM INDONESIA Ma'ruf, Aminudin; Hasyim, Aminah; Nurelsa Yandhi, Anggrey; Ira Sellani, Tilla; Fatoni, Muhammad Iqbal
JURNAL PROFIT Vol 8, No 1 (2024): Economic and Banking
Publisher : Nurul Jadid University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33650/profit.v8i1.5815

Abstract

This study aims to measure the performance of zakat institutions by using activity ratios, efficiency ratios, zakat workers' fund ratios, liquidity ratios, and growth ratios from 2012 to 2021.  This paper is qualitative research with financial ratios analysis.  The sample of the study was taken from the independent auditor's report and annual reports of BAZNAS from 2012 to 2021.  Financial statements are measured and reviewed using ratios to describe in-depth financial performance. The findings of this study provide the results of the calculation of the five ratios, showing good performance, efficiency and increasing quite significantly. Although some sub-ratios have yielded poor results, BAZNAS' performance has explained its business process activities are on track.  The results of this study are expected to contribute to increasing the realization of zakat funds driving Indonesia's economic growth. This study humbly suggests BAZNAS for the need to improve the performance of human resources to be more optimal in collecting activities and controlling operational activities.
Does Islamic Banking Contribute to Increasing Public Welfare? Evidence from Indonesian Province Panel Data Rezeki, Fuzi Amali Sri; Limayyasa, Risma; Mufti, Fauzan Ali; Widhansetyati, Purwanti; Syarief, Mochamad Edman; Setiawan, S; Fatoni, Muhammad Iqbal
Suhuf: International Journal of Islamic Studies Vol. 36 No. 1 (2024): Mei
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/suhuf.v36i1.4474

Abstract

One of the Sustinable Development Goals (SDGs) targets in Indonesia is to increase the level of public welfare that can be represented in GRDP per capita. Therefore, the purpose of this study is to determine whether Islamic banking through Islamic Commercial Banks (BUS), Islamic Business Units (UUS) and Sharia Rural Banks (BPRS) in 33 provinces in Indonesia, has contributed to GRDP per capita during the 2015-2022 period. GRDP per capita as a proxy indicator for the level of public welfare to encourage the achievement of the sustainable development goals (SDGs) target. This study uses panel data regression analysis because the data is time series and cross section. The size of the Islamic banking contribution uses Islamic Bank Office (IBO), Financing and Third-Party Funds (TPF) variables in 33 provinces in Indonesia. Meanwhile, the size of the welfare level of a region uses Gross Regional Domestic Product (GRDP) per capita data. The findings of this study show that the IBO, financing, and TPF variables simultaneously have a significant positive effect on GRDP. However, partially, the IBO variable has a significant negative effect on GRDP, the financing variable has a significant positive effect on GRDP, and the TPF variable has no effect on GRDP.