Islamic Social Finance: Integrating Zakah Funds in Microfinance and Microenterprise Support Programs

2022 ◽  
pp. 127-159
Author(s):  
Omar Ahmad Kachkar ◽  
Marwa Alfares
Keyword(s):  
Best Practices ◽  
Economic System ◽  
Professional Training ◽  
Screening Program ◽  
Support Programs ◽  
2030 Agenda ◽  
Poverty And Inequality ◽  
Islamic Economic

Alleviating poverty and inequality are among the central objectives of zakah in the Islamic economic system. These objectives are also on top of the 17 SDGs of the UN 2030 Agenda. This research argues that microenterprise support programs (MSPs) have been proven as effective tools in combating poverty. However, lack of funds has always been a major challenge for the sustainability of those programs. Channeling zakah funds to MSPs will directly contribute to empowering deprived populations and helping them to lift themselves out of the poverty cycle. Two zakah-based MSPs have been analyzed in this chapter. The first one is the Asnaf Entrepreneurship Program of Lembaga Zakah, Malaysia and the second one is Baitul Maal Muamalat Indonesia (BMMI). According to literature, using zakah in (MSPs) requires a strict implementation of best practices including screening program beneficiaries, providing professional training and monitoring to businesses, and finally applying a graduation scheme.

Sistem Ekonomi Islam Simbol Kesejahteraan Masyarakat

2018 ◽  
Vol 6 (1) ◽  
pp. 49-64
Author(s):  
Muhammad Wildan ◽  
Muhammad Wildan
Keyword(s):  
Economic System ◽  
Strategic Plan ◽  
Thomas Kuhn ◽  
Economic Independence ◽  
The Core ◽  
Economic Paradigm ◽  
Islamic Economic

The term “economy” comes from Greek word “oikonomia” consisting of “oikos” which means household and “nomos” which means regulation. The word “oikonomia” can be defined as the applicable regulation to fulfill the needs in a household. Islamic economics aims to build the economic independence of society collectively, meanwhile conventional economics is still individualistic. In the amidst of globalization, the efforts of sharia economist in covering coventional economic flow are already good enough. System that is already ingrained in society cannot easily be changed. The good strategic plan is required in instilling Islamic economic system in the middle of society. Thomas Kuhn says: ”every system has paradigm and the core of Islamic economic paradigm is definitely from Qur’an and Sunnah”.

PROFESSIONAL TRAINING OF ELECTRONICS ENGINEERS: APPLYING US EXPERICENCE TO UKRAINAN HIGHER EDUCATION INSTITUTIONS

2020 ◽  
pp. 80-85
Author(s):  
Olha Pavlenko
Keyword(s):  
Higher Education ◽  
Education Research ◽  
Best Practices ◽  
Cost Reduction ◽  
Professional Training ◽  
Higher Education Institutions ◽  
Academic Staff ◽  
Research And Innovation ◽  
Current State

The article discusses the current state of professional training of engineers, in particular, electronics engineers in Ukrainian higher education institutions (HEIs) and explores best practices from US HEIs. The research outlines the features of professional training of electronics engineers and recent changes in Ukrainian HEIs. Such challenges for Ukrainian HEIs as lack of collaboration between higher education and science with industry, R&D cost reduction for HEIs, and downsizing the research and academic staff, the disparity between the available quality of human capital training and the demanded are addressed. The study attempts to identify successful practices of US HEIs professional training of engineers in order to suggest potential improvements in education, research, and innovation for training electronics engineers in Ukraine.

Prinsip Dasar Ekonomi Dan Bisnis Dalam Islam

AKADEMIKA ◽  
2015 ◽  
Vol 9 (1) ◽  
pp. 69-77
Author(s):  
Misbahul Khoir
Keyword(s):  
Economic Development ◽  
Economic System ◽  
Human Behavior ◽  
Business Performance ◽  
Positive Impact ◽  
Economic Life ◽  
Universal Values ◽  
The Government ◽  
Islamic Economic ◽  
And Behavior

In order for humans could reach the so-called falah (goodness), human behavior needs to be colored with the spirit and norms of Islamic economics reflected in its values. The principles and values of Islamic economics are considerably two inseparable things. The implementation of economic principles without being colored with values or values without being based on principles could keep people far away from their purpose, namely falah. The implementation of values not based on principles will tend to bring with it the normative economics, which would cause it trapped into injustice. While the implementation of values on the Islamic economic development is based on the five universal values, namely akidah (belief), 'adl (justice), nubuwwah (prophetic), khilafah (the government), and ma'ad (results). The five principles are used as the basis for building theories of Islamic economics. But strong and adequate theories not applied into a system will make the Islamic economics just as the study of science without giving positive impact on the economic life. Therefore, based on the five universal values, the three derivative principles should be built into the characteristics and the forerunner of the Islamic economic system. The Islamic economic system makes sure that there are no economic transactions that are contrary to the Shari'a. But business performance depends on the man behind the gun. For that reason, the economic actors within this framework could be held by non-Muslims. The Islamic economics could only be developed if the mindset and behavior of Muslims are already itqan (diligent) and ihsan (professional). It "may be" one of the secrets of the Prophet's statement, saying "Truly I was sent to perfect good character". Because good character could be an indicator of knowing good or bad behavior in determining both the success and the failure of business itself.

Comparative Study Of Islamic Economic Law And The Capitalist

2018 ◽  
Vol 16 (2) ◽  
pp. 104
Author(s):  
Tesa Mellina ◽  
Mohammad Ghozali
Keyword(s):  
Economic System ◽  
Capitalist System ◽  
Economic Problems ◽  
Economic Law ◽  
The Poor ◽  
Economic Practice ◽  
The World ◽  
Islamic Economic ◽  
Economic Injustice ◽  
Islamic Values

The implementation ofthe capitalist system has eliminated the Islamic values in economic practice. After the financial crisis hit the world, the capitalist system reaped many questions and its greatnessbegins to be doubted. The capitalist system implementationprecisely creates new problems in the economy. The concept of individualism which is the main key in capitalist practice only creates economic injustice and misery of the poor. The only economic theory that is expected as a light in dealing with economic problems is an economic system that is able to create justice,the welfare of all parties and blessings both the world and the hereafter. The theory is the Islamic economics which in practice is inseparable from Islamiceconomic law. Islamic economic law that underlies the Islamic economic system is totally different from the capitalist economic system.Keywords: Islamic Economic Law; Islamic economics; Capitalist Economy

Community Colleges: The Next Frontier of Recovery Support at Institutions of Higher Education

2018 ◽  
Vol 1 (2) ◽  
pp. 9
Author(s):  
Erin K Jones
Keyword(s):  
Community Colleges ◽  
Best Practices ◽  
College Campuses ◽  
Support Programs ◽  
Institutions Of Higher Education ◽  
Building Capacity ◽  
Grant Program ◽  
Pilot Programs ◽  
Recovery Support ◽  
Survey Responses

In 2016, TYR could identify only six community colleges offering recovery support programs and services. Based on this finding, TYR identified a need for pilot programs to better understand programmatic models that may be effective for supporting students in recovery at community colleges. TYR’s Bridging the Gap grant program supports these pilot programs and is intended to act as a catalyst for building capacity for recovery support on community college campuses across the U.S. The goal of the program is two-fold; first, to help more 2-year institutions initiate recovery support programs and services and second, to study what programs and services are viewed as helpful and useful to students in recovery so that best practices can be shared as the field develops. This session provided a recap of TYR’s 2016 research, observations from Year 1 of the grant program, and a discussion on survey responses on institutional attitudes and student engagement in recovery support on 2-year campuses.

Second Annual Economics Seminar

1988 ◽  
Vol 5 (2) ◽  
pp. 317-318
Author(s):  
Syed Iqbal Mahdi
Keyword(s):  
Economic System ◽  
Cost Benefit ◽  
The United States ◽  
Director General ◽  
Washington Dc ◽  
Kuala Lumpur ◽  
Methodological Issues ◽  
Social Scientists ◽  
Temple University ◽  
Islamic Economic

The Second Economics Seminar of the AMSS Economic DisciplineCouncil on Islamic Economics co-sponsored by the International Instituteof Islamic Thought (IIIT) and the Association of Muslim Social Scientists(AMSS) was held Rabi‘ al Akhir 8-10, 1409/November 18-20, 1988, at theIIIT headquarters in Herndon, Virginia. The program chairman for theconference was Dr. Mohammad Safa of Southeastern University, Washington,DC and the Seminar was attended by over fifty (50) people from variousparts of the United States and Canada including academicians, Islamic bankers,and graduate economics students.Following recitations from the Holy Qur’in, the opening sessioncommenced with the welcome addresses of Dr. Taha Jabir Al-Alwani,President, and Dr. AbdulHamid AbuSulayman, Director-General of the ID”,respectively. Dr. Taha emphasized the importance of the implementation ofIslamization of Knowledge in modem social sciences particularly in economics,and the role of IIIT in this process. Dr. Taha also paid tribute to the servicesof Dr. AbuSulayman in building Islamic institutions like the AMSS and theIIIT in their formative years. He prayed for the success of Dr. ’AbuSulaymanin his new assignment as the Rector of the International Islamic Universityin Kuala Lumpur, Malaysia.Dr. AbuSulayman then outlined the challenges lying ahead for Muslimeconomists in their efforts to Islamize the science of economics.Conference Program and Papers:The conference program was divided into four sessions. The first sessionwas on “Methodological Issues in Islamic Economics” chaired by Dr. RasoolM. Hashimi of Southern Illinois University. Drs. Syed Iqbal Mahdi of BenedictCollege and Masudul Alam Choudhury of University College of Cape Bretonpresented papers entitled “Methodological Issues in Islamic Economics” and“Cost-Benefit Framework in an Islamic Economic System” respectively. Thelast paper in this session was given by Shamim Siddiqui who is a doctoralcandidate at Temple University in Philadelphia, Pennsylvania. The title ofhis paper was “Savings and Investment in an Islamic Economic System.” ...

scholarly journals COMPARISON OF ISLAMIC ECONOMY AND CONVENTIONAL ECONOMY TO PEOPLE'S INCOME GROWTH IN REDUCING POVERTY AND UNEMPLOYMENT

2020 ◽  
Vol 1 (2) ◽  
pp. 259-274
Author(s):  
Tarmizi Tarmizi
Keyword(s):  
Economic System ◽  
Economic Systems ◽  
Economic Activities ◽  
Capitalist System ◽  
The People ◽  
Socialist Economic ◽  
Islamic Economic ◽  
Islamic Faith ◽  
The Right ◽  
Socialist Economic System

Islamic economic system is built on the foundation of the Islamic faith, the faith in question is the right because it comes from Allah brought to mankind through the prophet Muhammad. The Islamic faith is a faith that satisfies reason, reassures the soul, and is in accordance with human nature. In an individual context, economic activity is based on the values of worship. The economic system known by society globally is the capitalist and socialist economic system. In the economic context, both systems have been able to increase the prosperity of the people in the country that uses both economic systems. The capitalist system is influenced by the zeal to make the most of its profits with limited resources. This capitalist venture is supported by the values of freedom to make ends meet. This freedom resulted in high competition among others in defense, while the socialist economic system had the goal of mutual prosperity. In conclusion, the Islamic economic system is a solution economic system for various problems that have arisen, while the conventional economic system is an economic system that is widely used by various countries in the world, including Indonesia. A conventional economy is an economic system that gives full freedom to everyone to carry out economic activities.

scholarly journals Sistem Ekonomi (Islam) dan Pelarangan Riba dalam Perspektif Historis

2018 ◽  
Vol 4 (01) ◽  
pp. 1
Author(s):  
Risanda Alirastra Budiantoro ◽  
Riesanda Najmi Sasmita ◽  
Tika Widiastuti
Keyword(s):  
Economic System ◽  
Economic Activity ◽  
Historical Perspective ◽  
Public Life ◽  
Economic Activities ◽  
Economic Problems ◽  
Islamic Thought ◽  
Islamic Economic ◽  
Islamic Civilization

Allah has given the guidance in the form of Islam for Muslim to take and lead all the aspects of life including the economic activity. The Islamic economic system is believed to be the answer of the economic problems that exist at this time. The goal is to achieve falah in kaffah by not doing some economic activities that are in violation as prescribed by Islam. For example is riba. Discourse on riba can be said "classical" both in the development of Islamic thought and in Islamic civilization because riba often occurs in all aspects of public life, especially economic transactions (in Islam called muamalah). Riba is an additional retrieval, either in a sale and purchase transaction or lending in a false or contrary to the principle of muamalah in Islam. Prohibition of riba is obtained from various sources by the Qur'an and Hadith Rasulullah SAW, so the scholars firmly and clearly defined the prohibition of riba because there are exploitative elements that can harm the others. So, this study is aimed to identif yIslamic economic system and the prohibition of riba in historical perspective. From the results of this study is expected to be a good reference for the reader to understand the Islamic economic system and riba in the future.Saran sitasi: Budiantoro, R., Sasmita, R., & Widiastuti, T. (2018). Sistem Ekonomi (Islam) dan Pelarangan Riba dalam Perspektif Historis. Jurnal Ilmiah Ekonomi Islam, 4(01), 1-13. doi: http://dx.doi.org/10.29040/jiei.v4i1.138

scholarly journals ANALISIS DAN EVALUASI IMPLEMENTASI PENGELOLAAN KEPEMILIKAN UMUM DAN NEGARA DI INDONESIA (PENDEKATAN MADZHAB HAMFARA)

2016 ◽  
Vol 5 (1) ◽  
Author(s):  
Siti Murtiyani ◽  
Hery Sasono ◽  
Dwi Condro Triono ◽  
Hanifah Zahra
Keyword(s):  
Economic System ◽  
State Ownership ◽  
Management Approach ◽  
Public Ownership ◽  
Unequal Distribution ◽  
The Public ◽  
Wealth Management ◽  
Theoretical Approaches ◽  
Islamic Economic ◽  
The Impact

This study aims to analyze and critically evaluate the implementation of the management of public ownership (Milkiyah 'ammah) and State ownership (Milkiyah Daulah) in Indonesia. This study descriptively describes the implementation of both ownerships that are currently practicing in Indonesia. Theoretical approaches used is the Islamic Economic System Madzhab Hamfara (Hadza Min fadzli Rabbi) who critically evaluate the implementation of the public wealth management and state wealth in Indonesia. This research used secondary data that was obtained from Madzhab Hamfara books, literature, journal and information relating to the Indonesian State assets management system. A comparative analysis was conducted to understand the difference between the public wealth management and state wealth management in Indonesia. Findings show that the management of both, public and state ownership are not in accordance to the ownership management approach of Madzhab Hamfara Islamic Economic System. The evidence suggests that both public and state ownership are not fully managed by the Government of Indonesia. The fact shows that public ownership in the form of water, fire and pastures are managed by individuals and institutions as well as foreign parties who have fund to privatize the public ownership. Consequently, it has the impact on unequal distribution of income that cause poverty in Indonesia. This research suggest that government should implement Islamic Economic System Madzhab Hamfara in managing public and state ownership in Indonesia. =========================================== Kajian ini bertujuan untuk menganalisis dan mengevaluasi secara kritis penerapan pengelolaan kepemilikan umum (Milkiyah 'Ammah) dan kepemilikan negara (Milkiyah Daulah) di Indonesia. Studi ini menjelaskan secara deskriptif tentang implementasi pengelolaan kedua kepemilikan tersebut yang sekarang dipraktikkan di Indonesia. Teori yang digunakan dalam penelitian ini adalah Sistem Ekonomi Islam Madzhab Hamfara (Hadza Min fadzli Rabbi) yang secara kritis mengevaluasi implementasi pengelolaan kepemilikan umum dan negara di Indonesia. Kajian ini menggunakan data sekunder yang berasal buku-buku madzhab Hamfara, literatur, artikel jurnal dan informasi lainnya yang terkait dengan pengelolaan aset di Indonesia. Analisis perbandingan juga dilakukan untuk memahami perbedaan pengelolaan kepemilikan umum dan kepemilikan negara. Hasil kajian menunjukkan bahwa pengelolaan kepemilikan, baik kepemilikan umum maupun negara di Indonesia, tidak dijalankan sesuai dengan sistem ekonomi Islam Madzhab Hamfara. Bukti-bukti menunjukkan bahwa pengelolaan kepemilikan publik dan negara tidak sepenuhnya dilakukan oleh negara. Fakta juga menunjukkan bahwa kepemilikan tersebut lebih banyak diserahkan kepada lembaga-lembaga privat bahkan lembaga-lembaga asing. Akibatnya, kesenjangan pendapatan yang menjadi pemicu kemiskinan terus terjadi. Kajian ini menyarankan agar pemerintah mengimplementasikan sistem ekonomi Islam Madzhab Hamfara dalam pengelolaan kepemilikan umum dan negara di Indonesia.

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