Mudharabah

Purpose
The concept of Takaful has a long history. It is linked with the era of Prophet Muhammad 1,400 years ago. The globalization and development of socio-economic systems have made business activities more complex in response to emerging human needs and requirements. Similarly, Takaful insurance has fully commercialized and become an important indicator of the international financial market. The purpose of this study is to understand the Takaful mechanism and progression of its procedures to date since its inception.
Design/methodology/approach
This study seeks to examine the origin, evolution and historical developments of Takaful mechanism, operations, models and governing framework with extant literature review from previous studies and current practices.
Findings
The modern Takaful insurance first began in Sudan back in 1979. The Takaful operations must abide by the Sharia laws and work under the supervision of the Sharia Supervisory Board. Since its evolution, Sharia scholars have introduced various Takaful models that are going to be explained in this study. Moreover, several Islamic organizations, including the “Islamic Financial Services Board” and the “Accounting and Auditing Organization for Islamic Financial Institutions,” have provided guidelines and supervision to develop and strengthen the Takaful industry further. The study acknowledges Takaful as a growing insurance industry with huge potential and promising future in both Pakistan and the international market.
Practical implications
During the analysis, various deficiencies and loopholes were identified, which are responsible for the unmatched growth of conventional insurance. They can be eliminated with the joint efforts of industrial players, Sharia scholars and Takaful insurance companies. Hence, Islamic scholars and academic researchers are encouraged to develop and modify the current practices of Takaful mechanism according to current market demands and consumer approach. The research efforts will help Takaful operators to develop more innovative Takaful products adhering Sharia compliance. Consequently, it will help to access more consumer market and further enhances the Takaful growth.
Originality/value
This study is an effort to provide a basic understanding of the mechanism of Takaful models. The study helps to comprehend how Takaful models have evolved and been modified over the course of time. Moreover, it provides a base for further development and improvement in current practices of Takaful models, which will result in increased progress for the Takaful industry.

The problem of poverty and unemployment is not a recent issue in Indonesia, an effort to emphasize poverty and unemployment re-emerged. The government has been tried to overcome it in various ways. However, this condition is too hard to be solved if depend only on its government. In the digital era financial technology becomes an important thing, because it has a great influence in the needs of people's lives. A fintech mechanism that can change this condition becomes an urgent need. This study intended to apply financial technology to solve the problem of poverty and unemployment in digital era. This research used is qualitative. The type of data used in this study is secondary data. Data collection used is the study of library and documentary. The results of this study provides a proposing Mudaraba financing mechanism that can directly finance SMEs (Micro and medium enterprises) activities in the form of an online fintech platform called Go-Mudaraba. In practice, Go-Mudaraba fintech be an intermediate to link the owner of the capital fund (Shahibul Mal) with the managing party (Mudarib) through the crowdfunding mechanism.

Profit sharing (Mudharabah) is a monetary instrument of Islamic finance as interest is a monetary instrument of conventional economics. Both have extreme one another paradigm. Results have a theoretical basis for the profit and loss sharing (PLS). PLS theory was built as a new offer on the outside of the system which tend not to reflect the interest of justice (injustice / dzalim) due to discrimination against the sharing of risks and profits for economic actors. Profit-loss sharing means profits and or losses that may arise from economic activities / business borne together. In the instrument for the results are not fixed and there is a certain returns as interest, but do profit and loss sharing based on the real productivity of the product. Therefore the system to better reflect the outcome of justice. Profit sharing as a monetary instrument has been frequently applied in studies of Islamic economics, both from the supply side (financing) or the supply side economics and/or demand-side economics.

This thesis aims to determine how much influence policy-contract agreement the Islamic bank financing (murabahah, istishna, mudharabah, and musyarakah) against the profitability of Islamic banks. Profitability used in this thesis is the Bukopin Syariah, BRI Syariah, BSM, and Muamalat Indonesia Bank. The data in this paper uses secondary data, monthly financial statements (balance sheet and income statement) in the period March 2015-August 2016. The financial statement has been taken from the publication of the report issues by the website of each bank. Mechanical of data management using multiple linear, regression, and test the classical assumption of normality test, multikoloniaritas, heteroksidasitas, and autokorolation, while proving the hypothesis of determination R2, F statistical test, and the test T statistic.

Dana pihak ketiga adalah dana yang diperoleh dari individu individu yang ada di masyarakat, dalam arti masyarakat sebagai individu, perusahaan, pemerintah, rumah tangga, koperasi, yayasan, dan lain-lain baik dalam mata uang rupiah maupun dalam valuta asing, bagi sebagian besar bank, dana masyarakat adalah merupakan dana terbesar yang mereka dimiliki. Bank Syariah memiliki alur operasi yang berbeda dengan nama konvensional yang dikenal oelh masyarakat selama ini, Perbedaan ini juga terjadi dari cara mereka menghimpun dana pihak ketiga. Cara penghimpunan dana pihak ketiga dalam perbankan syariah dapat dilakukan dengan prinsip Wadiah yaitu titipan dari satu pihak ke pihak lain yang harus dikembalikan kapan saja si penyimpan menghendakinya dan mudharabah yang merupakan salah satu bentuk kerjasama antara investor dengan pihak kedua (mudharib) yang berfungsi sebagai pengelola dalam berdaganan. Artikel ini berusaha menjelaskan operasi pengumpulan dana pihak ketiga pada perbankan syariah berdasarkan kepada kedua prinsip, baik landasan fiqih yang melandasasinya maupun alur operasinya agar dapat memberikan pemahaman akan perbedaan antara operasi pengumpulan dana pihak ketiga pada perbankan konvensional dan perbankan syariah.

Penelitian ini bertujuan untuk menguji secara empiris dan menganalisis pengaruh zakat, qardh, murabahah, mudharabah, musyarakah, dan corporate social responsibility (CSR) terhadap kinerja keuangan (ROA) Bank Umum Syariah di Indonesia Periode 2012-2016.

By July 2015, with the full implementation of the Islamic Financial Services Act (IFSA 2013) imposed by regulatory authorities in Malaysia, investment accounts by Islamic banks in Malaysia will no longer be protected by the national deposit insurance scheme, Perbadanan Insurans Deposit Malaysia (PIDM). This means that there will no longer be any income smoothing effect; i.e. the profit equalization ratio (PER) and investment risk reserve (IRR) will no longer be used (Bank Negara Malaysia, 2014) and Islamic investment account holders (IAH) could face the risk of losing their principal amount should the investment incur any losses.
Because of that, Islamic banks in Malaysia have converted existing mudarabah savings and current accounts to wadiah savings and current accounts. This is because, savings and current accounts are principal guaranteed, therefore the management of the accounts would not be similar to the investment account structure as specified in IFSA 2013.