Islamic banking Act in Indonesia requires to manage the financial funds and social funds simultaneously. In the case of spin-off Islamic Banks, the fund manager is separate from the parent company, including in managing social funds, e.g. zakah, infaq, and sadaqah. This study is going to investigate the spin-off's impact on the social funds' productivity in spin-off Islamic Banks. The method used in this paper is the Malmquist Productivity Index (MPI) test for annual data from the period 2005 to 2017. The samples used is two spin-off Islamic banks as the rest are established with conversion or acquisition models. The results show that productivity changes increased after the spin-off decision and was influenced by technological changes. However, the spin-off decision hasn't a significant impact on social funds' productivity in Islamic banks. It implies that independence in managing resources supports the Islamic banks' performance, especially for social funds.

Purpose: The study aims to analyse the social funds’ productivity of Islamic banks in Indonesia and the antecedents of it. The study will measure the social fund productivity followed by the investigation about the variable which can determine the Islamic bank productivity. Methodology: The study conducted at nine Islamic banks Indonesia. Two stages of the Malmquist productivity index were applied to annual data from 2012-2018. The variables which are tested its effect on social funds’ productivity return on asset, operational efficiency, inflation, OPEC oil price, and economic growth. Main Findings: social funds’ productivity of Islamic banks in Indonesia has experienced progress during the observation period. It is supported by the progress on technological change and efficiency change. The antecedents of social funds’ productivity return on asset and operational efficiency, while macroeconomics conditions have no significant effect on social funds’ productivity. Applications of this study: This study enriches the research on Islamic banks and gives the recommendation for policymakers to supervise better and for banks’ managers to improve the social funds’ productivity. Novelty/Originality of this study: This research is the preliminary study on the determinant of social funds’ productivity in Islamic banks.

Under the Act No. 21 of 2008, Islamic banks in Indonesia as an intermediary institution are obligated to manage the resources simultaneously, the financial funds as well as the social funds, e.g. zakah, infaq, and sadaqah. This study aims to investigate the productivity change of social funds and financial funds of Islamic Banks in Indonesia. Non-parametric tests of Malmquist Productivity Index (MPI) is applied to annual data from period 2012 to 2017, encompassing post-reform of banking authority from Bank Indonesia to The Financial Services Authority (OJK) at 2012. The samples are nine Islamic banks in Indonesia which were able to provide the data during observation period. The results indicate that social funds are more productive than financial funds and productivity change tends to trade off. The productivity of social funds is progressed by 8.2% while the financial funds is regressed by 5.4%. Overall, the productivity change of Islamic banks is influenced by technological aspect rather than the efficiency aspect. Besides, BRI Syariah is the best performer in managing financial funds while BCA Syariah as the best performer in social funds. It implies that the policymakers may strengthen the supervisory and coaching to increase the Islamic banks' productivity in both activities.

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Mauquf ' alaih or targets of the Waqf is an important element in studies of law of Waqf. Mauquf ' alaih covering fields of life of mankind, such as religious, educational, health, and social. In a consumerist, wakaf mauquf ' alaih service in fields that have been defined and are not experiencing significant development. Whereas in the endowments ' alaih mauquf productive, more varied and dynamic. It could be, ' alaih mauquf mentioned in the deed of pledge a specific field in the form of endowments but extends in its development so that it covers the areas that are not mentioned. Mauquf ' alaih that has been ditentutan it is called mauquf ' alaih typical mauquf ' alaih unspecified and is the impact of the development of the Waqf called mauquf ' alaih ' am. Keywords: productive, wakaf mauquf ' alaih ' alaih mauquf special General   Abstrak Mauquf ‘alaih atau sasaran wakaf merupakan unsur penting dalam kajian hukum wakaf. Mauquf ‘alaih meliputi bidang-bidang kehidupan umat manusia, seperti keagamaan, pendidikan, kesehatan, dan sosial. Dalam wakaf konsumtif, mauquf ‘alaih berupa layanan dalam bidang yang telah ditentukan dan tidak mengalami perkembangan yang signifikan. Sedangkan dalam wakaf produktif, mauquf ‘alaih lebih bervariasi dan dinamis. Bisa jadi, mauquf ‘alaih yang disebutkan dalam akta ikrar wakaf berupa bidang tertentu tetapi pada perkembangannya meluas sehingga meliputi bidang-bidang yang tidak disebutkan. Mauquf ‘alaih yang telah ditentutan itu disebut mauquf ‘alaih khas dan mauquf ‘alaih yang tidak ditentukan dan merupakan dampak dari perkembangan wakaf tersebut disebut mauquf ‘alaih ‘am.   Kata kunci: wakaf produktif, mauquf ‘alaih khusus, mauquf ‘alaih umum. Â