The purpose of this paper is to discuss the potential role of the institution of Waqf in poverty alleviation. Poverty is a complex, multi-dimensional phenomenon that has captured the attention of numerous scholars and agencies globally. The social role of the Islamic financial sector can be best exemplified by providing finance to the poor to increase their income and wealth. This paper will explore on how microfinance can be provided on Shariah compliant basis through Waqf model. This research also reviewing the development of the integrated Waqf based Islamic microfinance which aimed to provide solutions to reduce poverty. An integration of Waqf-based Islamic microfinance (IWIM) model is proposed to address all the practical challenges of microfinance faced in Muslim communities. In this model, microfinance is practised in compliance with Shari'ah to address the multi-dimensional aspects of poverty and empowering the poor in order to enhance the socio-economic development and hence the well-being of the Ummah. With this aspiration, the IWIM model aims to tackle the challenges related to the scarcity of capital, inadequate human resources, absence of proper Takaful programs and project financing in an integrated approach. However, Waqf based microfinance still may be facing some problems should be addressed which related to credit risk, moral hazard, and economic viability. AbstrakTujuan dari makalah ini adalah untuk membahas peranan lembaga wakaf dalam pengentasan kemiskinan. Kemiskinan adalah fenomena kompleks multi-dimensi yang telah menarik perhatian banyak peneliti dan lembaga-lembaga di seluruh dunia. Memberikan pembiayaan kepada masyarakat miskin untuk meningkatkan kesejahteraan mereka adalah salah satu contoh peranan sosial dari sektor keuangan Islam. Makalah ini akan mengeksplorasi tentang bagaimana keuangan mikro dapat disediakan berdasarkan Syariah berbasis Wakaf. Penelitian ini juga mengkaji perkembangan keuangan Islam mikro berbasis wakaf terintegrasi yang bertujuan untuk memberikan solusi untuk mengurangi kemiskinan. Integrasi model keuangan mikro Islam berbasis wakaf (IWIM) diusulkan untuk mengatasi semua tantangan praktis keuangan mikro yang dihadapi dalam komunitas Muslim. Dalam model ini, keuangan mikro dipraktikkan sesuai dengan Syariah untuk mengatasi aspek multi-dimensi kemiskinan dan memberdayakan orang miskin untuk meningkatkan pembangunan sosial-ekonomi dan kesejahteraan umat. Dengan aspirasi ini, model IWIM bertujuan untuk mengatasi tantangan terkait dengan kelangkaan modal, sumber daya manusia yang tidak memadai, tidak adanya program Takaful yang tepat, dan pembiayaan proyek dalam pendekatan terpadu. Meskipun demikian, keuangan mikro berbasis wakaf masih menghadapi beberapa masalah yang harus diatasi yang terkait dengan risiko kredit, permasalahan moral hazard, dan kelayakan ekonomi.

Introduction to The Problem: The era of innovation in information technology has emerged to ease daily commercial transactions. The innovation in financial technology has created numerous new business model to cater the customers’ need. This development needs a regulation and supervision to avoid chaos in the financial system. Particularly in Indonesia and Malaysia, which both countries were recorded by CCAF to be among the top countries in the ASEAN region by the number of fintech firms.Purpose/Objective Study: This study is aimed to analyze the financial technology regulation and supervision in Indonesia and Malaysia.Design/Methodology/Approach: The comparative study is conducted to compare the regulatory environment related to Digital payment, Equity Crowdfunding, P2P lending, Crypto Asset, Consumer protection, cybersecurity law and Islamic fintech in both countriesFindings: The study found that compared to Malaysia, Indonesia has lack of jurisdiction that protecting the customer from the cyber-attack which highly threatening the fintech industry. Both countries also treat ICO differently. Malaysia treats it under RMO guidelines, while Indonesia banned it as the method of payment but still allows the trading of ICO as a commodity under Commodity Futures Regulatory Agency.

Muslim women have created a unique space for them in the economy by advocating halal entrepreneurship. In Muslim minority countries, Muslim women are struggling to gain acknowledgment from society and face multiple challenges, including limitations in performing halal business activities. Besides the gender gap that is prevalent globally, Muslim women often engage in business due to the lack of job opportunities. Women with limited knowledge about business are running their businesses based on their informal managerial experience and little understanding of financial literacy.Purpose of study: This paper identifies the critical decisions of women entrepreneurs in doing halal business and the significance of financial literacy for business performance.Methodology: Library research was used to critically review the literature on the behavioral factors influencing woman entrepreneurs in doing the halal business and the significance of financial literacy on business performance.Findings: The study found that the significant problems faced by Muslim women entrepreneurs were the lack of access to capital and finance, business management skills, business operation and government regulations and policies. The understanding of financial literacy among entrepreneurs has a positive impact on successful business performance.Keywords: Halal business, financial literacy, women entrepreneur

This study's main objective is to investigate equity-based financing and debt-based financing of the profitability of Islamic banking in Indonesia. This research is expected to contribute to the theoretical and practical dimensions. On the conceptual aspect, this study can provide evidence of whether equity-based financing and debt-based financing affect the profitability of Islamic banking. While on the practical dimension, Islamic banks in Indonesia can determine the extent of their profitability and, in turn, the competitiveness of Islamic banks to enable it to be developed in line or even better than conventional banks. The data analysis technique uses panel data regression, which is time series data and cross-section. Next, to estimate the panel data model, which is divided into three, namely: common effect, fixed effect, and random effect. The result of this study that partially equity-based financing does not affect ROE. At the same time, debt-based financing influences the ROE of Islamic banks. Partially equity-based financing and debt-based financing do not affect ROA of Islamic banks. However, it simultaneously shows that the independent variable test results, namely equity-based financing and debt-based financing, have a strong influence on the dependent variable, namely, profitability as measured by ROA and ROE.

Financial literacy has a tremendous impact on sustaining family financial management. Lack of financial knowledge may lead to arising financial problems within the family which also may affect the personal relationship and working performance of its members. Managing wealth realizes the Maqasid Shariah, Hifz al-mal (preservation of wealth) to ensure the sustainable life of every individual and Hifz al-nafs (preservation of life. This study addresses the importance of financial literacy in the dynamic environment of household financial management to avoid family problems such as divorce, financial arguments and broken family which would be contradictory to the intent of the Shariah. The literature on financial literacy and family financial management were critically reviewed and used in an attempt to highlight the financial issues within the family. This paper explores financial literacy in family financial management as well as the conflicts that arise from financial problems. Considering the urgency of financial literacy in the dynamic environment of household financial management, it aims to create awareness and propose recommendation on promoting the financial literacy in managing household’s finance as part of the preservation of Maqasid in Malaysia context.  Keywords: Financial Literacy, Family Wealth Management, Maqasid Shariah.             Abstrak Celik kewangan mempunyai kesan yang besar dalam pengurusan kewangan keluarga. Kekurangan pengetahuan dalam kewangan ini akan mengundang masalah kewangan dalam keluarga yang mampu mempengaruhi hubungan antara sesama ahli keluarga dan juga mengganggu prestasi kerja seseorang. Disebabkan kadar kemuflisan dan keberhutangan yang tinggi, persatuan dan institusi kewangan Malaysia menitikberatkan kepentingan ilmu pengetahuan tentang kewangan dan pendidikannya dalam keluarga. Menguruskan kewangan dengan baik adalah salah satu maqasid Syariah dalam memelihara harta “hifz al-mal”- pemeliharaan harta untuk memastikan kehidupan yang lestari di mana ia juga merupakan antara maqasid Syariah yang lain iaitulah “hifz al-nafs”-pemeliharaan jiwa. Kajian ini membincangkan kepentingan mempunyai ilmu kewangan dalam persekitaran dinamik pengurusan rumah tangga demi mengelakkan masalah seperti penceraian, pertengkaran dan pergaduhan serta perpecahan keluarga yang bertentangan dengan maqasid Syariah. Kajian-kajian terdahulu berkaitan celik kewangan dan pengurusan kewangan keluarga diamati secara kritis dalam usaha untuk mengenalpasti masalah-masalah kewangan yang berlaku dalam sesebuah keluarga. Dengan menggunakan pendekatan induktif dan deduktif yang merupakan antara kaedah kajian kualitatif, makalah ini mengkaji sejauhmana kewujudan ilmu kewangan dalam sesebuah keluarga serta konflik yang timbul kesan daripada masalah kewangan yang berlaku. Memandangkan keperluan ilmu ini dalam persekitaran dinamik pengurusan rumahtangga, makalah ini cuba untuk memberi kesedaran dan garis panduan tentang kepentingan ilmu ini sebagai salah satu cara melestarikan maqasid di Malaysia. Kata Kunci: Celik wang, maqasid syariah, keluarga , pengurusan harta, rumahtangga.