This paper aims to provide a comparative analysis between the concept of insurance and the concept of takaful from an Islamic perspective. The method used in this paper is the study of libraries, in which the author seeks to find, summarize, analyze and ultimately deduce from various authoritative data sources. Insurance is a non-bank financial institution that offers protection against difficulties to the public. By paying dues or premiums that have been determined, the public has the right to make a claim that will be reimbursed by the insured party several funds that have also been determined. The insurer states to bear all risks that occur in the future. Therefore, all dues paid will be covered and managed by the company. However, it turns out that attitude is detrimental. Because the claim from the customer is not filed, then the customer's money is forfeited and entirely belongs to the company. In addition, the management of funds that are unclear and even almost unknown to customers makes this insurance practice illegal because it contains gharar and usury.

Education becomes an urgency in improving the quality of human life. Improving the quality of education is one of the goals of maqashid shariah, waqf as the property of the people whose benefits are intended for the continuity of the benefit of the people becomes one of the potential to be associated as a source of provision of educational institutions to improve the quality of human resources, considering that man is the caliph fil ardl and as an agent of change. The purpose of this study will explain about sukuk waqf in the development of Islamic education. In this study, the authors used qualitative research types using descriptive analysis. Information and data obtained from various sources from related aspects related to research issues with the source of books, journals, or other sources relevant to the discussion with the aim to reach conclusions about the benefit of sukuk waqf in the development of Islamic educational institutions. Waqf and sukuk integrated will be two phenomenal financial instruments by combining modern schemes of waqf asset development with securities that produce sukuk waqf. In integrating sukuk wakaf, educational institutions can use innovative product waqf models by using sukuk issued by waqf institutions as nadzir, as well as istitusi as third parties. This paper is limited by the scope of discussions related to waqf and Islamic educational institutions, as well as sukuk waqf that can be used as one of the innovations in the development of waqf assets in educational institutions. This research is expected to be used by practitioners of waqf, wakif, nazir, to be used as material in the management and development of productive waqf, especially in Islamic educational institutions.

In attendance of sharia capital market shows that the improvement and development. It is can be considered from the majority moslems on investment. Then, the author attracted to compare the sharia stock price in both country. To determine the sharia stock price in Indonesia and Malaysia, it is caused by external factors and internal factors. The author attracted to analyze the determinant of stock price in both countries,the variables and systematic risk, that is EPS, BVPS, Dividend, and Beta. The researcher used panel regression in analyze nine companies in Indonesia and Malaysia. The result from this study shows that the fundamental factors which consist of EPS, BVPS, dividend, and beta have not significant impact on the sharia stock price in Indonesia although in Malaysia. They are many reason to explain the result of study. First reason, we used sharia stock in Indonesia which represented by JII and Malaysia which represented by FBHSM where both of capital market are sharia which the companies did not see on profit to determinant sharia stock price.  Second reason, it is totally different, when we do the research in sharia stock and if we considered from muslims insvestors perspective we conclude that the muslims investor more to prioritize the religious aspect than the other aspect. The different about sharia and conventional capital market are in screening method to determine the stock and sharia stock. Third reason, It is caused by the other factors from external