INDONESIA - DISPUTE SETTLEMENT - Shariah Arbitration and Shariah Court should understand Islamic Finance Transactions in order to solve dispute

Jakarta (9/12)- Dispute settlement in Islamic finance institution is up until today is still become the main issue that need to be handled.  There is two ways of shariah dispute settlement one by the mediation thru the National Syariah Arbritrage ( BASYARNAS) and the shariah court, whereas the effectiveness is still under questions.

The former Director of  Investigation and Mediation of Indonesia’ Banking system   Purwantari Budiman said that the two shariah institutions, Basyarnas and syariah court, are not effectively handling the matter of Islamic finance dispute since both institutions lack of competency in Islamic finance transactions. “ when the dispute to be settled in Basyarnas, it will be difficult since the banking operations dispute will be handled by referring to fiqh (Islamic jurisprudence), it will be a deadlock, “ explained Purwantari during the refreshing program at refreshing program for finance and banking journalists at Lembaga Pengembangan Perbankan Indonesia (LPPI), last Thursday (8/12).  (source)

WORLD - BOOK REVIEW - Islamic Finance: A Practical Guide (Book Review)

Budiman, M.A. (2010, Islamic Finance: A Practical Guide (Book Review), IIUM Journal of Economics and Management 18 (1), 127-32.

Rahail Ali (Editor), Islamic Finance: A Practical Guide

ISBN13: 9781905783137

ISBN: 1905783132

Published: March 2008

Publisher: Globe Law and Business

Country of Publication: UK

Format: Hardback

Islamic finance has seen unprecedented growth in recent years and the pace of this growth is accelerating. This is evidenced not only by the size of the Islamic financial market, but also by the increasing range of sophisticated products and services. (source)

ARTICLE - The Economic Significance of Waqf: A Macro Perspective

The economic significance of waqf : a macro perspective

Mochammad Arif Budiman

State Polytechnic of Banjarmasin, Indonesia; International Islamic University of Malaysia (IIUM) - Faculty of Economic and Management Sciences

Dimas Bagus Wiranata Kusuma

affiliation not provided

8th International Conference on Tawhidi Methodology Applied to Microenterprise Development, January 2011

Abstract:     

There has been an accusation among few scholars blaming that the institution of waqf could not any longer perform its economic role in the modern times. To them, instead of being a vital institution as it was at pre-modern era, waqf nowadays seems to be an impediment to the development in most of Islamic countries. This paper however is meant to clarify such an accusation and attempts to point out the economic significance of waqf in the context of modern economy. (download)

ARTICLE - The Role of Waqf for Environmental Protection in Indonesia

The Role of Waqf for Environmental Protection in Indonesia

Mochammad Arif Budiman

State Polytechnic of Banjarmasin, Indonesia; International Islamic University of Malaysia (IIUM) - Faculty of Economic and Management Sciences

Aceh Development International Conference (ADIC), Kuala Lumpur, March 26-28, 2011

Abstract:     

Indonesia is now suffering from critical environmental problems. These heavy problems obviously need to be surmounted and appropriate solutions should be taken in order to reduce further potential calamities. Waqf as a charitable institution in Islam is expected to play its significant role to carry out environmental protection and therefore to ensure a more sustainable development in the country. This paper tries to elaborate potential of waqf institution for environmental protection and to reveal advantages and benefits of making waqf a means for environmental protection.(download)