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Tazkia Islamic Finance and Business Review
ISSN : 24600717     EISSN : 24600717     DOI : -
Core Subject : Economy,
Tazkia Islamic Finance and Business Review (TIFBR) is a peer-reviewed journal published by the Institute for Research and Community Empowerment (IRCE), Tazkia University College of Islamic Economics in collaboration with Association of Islamic Economics Lecturers (ADESY). The Journal is semi-annual journal issued in July and December. The aim of the journal is to disseminate Islamic Economics, finance and business researches done by researchers both from Indonesia and overseas.
Arjuna Subject : -
Articles 5 Documents
Search results for , issue "Vol. 15 No. 1 (2021)" : 5 Documents clear
Smart Contract’s Contributions to Mudaraba Dhiaeddine Rejeb
Tazkia Islamic Finance and Business Review Vol. 15 No. 1 (2021)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v15i1.236

Abstract

A Smart contract is a technology initiated in 1994 by Szabo and was taken over and became potentially highly applicable since the emergence of Blockchain technology. The idea that was developed by Szabo is to adopt digital self-executing contracts between parties without human intervention by using distributed ledgers to store contracts. This new technological era is intended to be used on a large scale in the financial sector. Insofar as the financial sector seeks to benefit as much as possible from these new technologies, Islamic finance also aims to position itself and integrate these innovations into its core. In the context of Islamic finance, the mudaraba contract (equity-based investment contract) despite its great economic benefits remains under-applied because of technical risks, investment obstructions, and Sharia restrictions. This work aims to study to what extent Smart contracts can contribute to the resolution of these drawbacks and the improvement of the mudaraba contract to be applied potentially by Islamic finance institutions. It is concluded that by the mudaraba contract can be enormously developed technologically, operationally, and from Sharia compliance perspective by applying smart contracts.
Managing Islamic Financial Planning Inclusion in Indonesia Farikha Amilahaq; Provita Wijayanti; Brilian Citra Pertiwi
Tazkia Islamic Finance and Business Review Vol. 15 No. 1 (2021)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v15i1.243

Abstract

Indonesia is a country with the largest Muslim population. However, the understanding of Islamic finance is still limited. Meanwhile, more people are becoming more aware of the importance of managing personal finances. The interest of Muslim community to financial planning is a great opportunity to improve Islamic financial inclusion. The community is not only learning how to control personal finance according to Islamic principles, but also knows how and where to invest funds in compliance to shariah principles. Long-term impacts can increase the share of the Islamic financial market in Indonesia, both in the Islamic banking sector, Islamic insurance, sukuk, Islamic capital market, or fintech. Thus the shariah ecosystem could be strengthened further. This paper surveys the literature in the area of Islamic financial planning, and aims to design the basic concepts of Islamic personal financial planning needs, as well as to compare it with conventional personal financial planning. The next stage is to calculate the factors that could increase the inclusion of Islamic personal financial planning. The output of this study is a conceptual framework of Islamic financial planning that could also improve Islamic financial literacy and inclusion.
An Innovative Sukuk-Waqf for Islamic Microfinance Institutions: Integrating Maqasid Al-Shariah, SDGs and Waqf Abdul Hai; Dr. Salina Kassim; Mohammed Meeran Jasir Mohtesham
Tazkia Islamic Finance and Business Review Vol. 15 No. 1 (2021)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v15i1.251

Abstract

Microfinance institutions (MFIs) have been widely recognized to promote financial inclusion and contribute towards poverty eradication by facilitating the access to financial products and services to the under-privileged and unbankable segment of society. Nevertheless, numerous studies have shown that many MFIs face the issue of economic viability and financial sustainability due to the lack of fund mobilization. By considering the success of conventional MFIs, several countries have introduced Islamic MFIs by adopting the Islamic modes of financing on the asset side of the conventional MFIs model. However, they face the same problems as their conventional counterparts on their liability side. The present study aims to introduce a Sukuk-waqf model as a source of funds for the Islamic MFIs through as cash waqf. In achieving this objective, the study adopts a qualitative research approach and proposes a Sukuk-waqf model for the development of Islamic MFIs. The combination of cash Waqf with Sukuk for raising funds for the Islamic MFIs is expected to contribute to the economic sustainability and viability of the institutions. In modelling the Sukuk-waqf model, the study attempts to integrate SDGs, Waqf, and Maqasid al-shariah, which emphasis on the poverty eradication, social justice, and economic welfare through the notion of Hifze deen (preservation of faith), hifze maal (preservation of wealth) and by providing access to the poor for productive resources such as education, training, and credit. The results from this study are expected to provide important inputs for the sustainable development of Islamic MFIs and assist the MFIs to contribute towards achieving the SDGs and ultimately, the Maqasid al-shariah.
How Waqf Solves Backlogs Munira Pratiti Satriyasyifa; Anita Priantina
Tazkia Islamic Finance and Business Review Vol. 15 No. 1 (2021)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

The gap between demand and affordable supply has led to a housing backlog, especially in Indonesia. Solution is needed, especially to provide housing for low-income earners. This study discusses the potential for implementing a new financing scheme that combines Sukuk Linked Waqf, Cash Waqf Linked Sukuk, CSR, and non-halal funds for housing development in the long-term using the Benefit, Opportunities, Cost and Risk-Analytical Network Process (ANP-BOCR) method. The results of this study indicate that under this alternative scheme, the benefits and opportunities for all parties involved in housing development outweigh the costs and risks. Therefore, the combination of SLF and CWLS has significant potential to solve backlog problem in Indonesia. Keywords:
The Effect of FDI and Corruption to Human Development in OIC Countries Dewi Robbani
Tazkia Islamic Finance and Business Review Vol. 15 No. 1 (2021)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v15i1.265

Abstract

This study aims to see the direct and indirect effect of FDI and corruption to Human Development in OIC Countries. Nine countries are selected representing the medium to very high human development category in OIC Countries (Egypt, Indonesia, Jordan, Malaysia, Morocco, Kazakhstan, Kyrgyzstan, Turkey, and Tunisia). Using a combination of path diagram and panel data analysis, the result of this research indicates corruption has both direct and indirect effect through economic growth to human development in 9 OIC countries, while economic growth and FDI restrictiveness have a direct effect. Keywords: Foreign Direct Investment, Corruption, Human Development, OIC   Abstrak. Penelitian ini bertujuan untuk melihat pengaruh langsung dan tidak langsung dari investasi langsung luar negeri (FDI) dan korupsi terhadap pembangungan manusia di negara-negara OKI. Dalam hal ini, 9 negara dipilih yang merepresentasikan kategori tingkat pembangunan manusia menengah dan tinggi di antara negara-negara OKI (Mesir, Indonesia, Yordania, Malaysia, Maroko, Kazakhstan, Kirgistan, Turki, dan Tunisia). Dengan menggunakan kombinasi diagram jalur dan analisis data panel, hasil penelitian menunjukkan bahwa korupsi berpengaruh terhadap tingkat pembangungan manusi di negara-negara OKI baik secara langsung maupun tidak langsung melalui pertumbuhan ekonomi. Sementara itu, pertumbuhan ekonomi dan pembatasan FDI memiliki pengaruh langsung. Keywords: Investasi Langsung Luar Negeri, Korupsi, Pembagunan Manusia, OKI

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