This study aims to determine the difference in scores between the Fulmer, Springate and Grover models in predicting bankruptcy and to determine the model with the highest level of accuracy in the property and real estate industry listed on the Indonesian Sharia Stock Index (ISSI). Bankruptcy prediction needs to be done because an analysis is very important for companies in determining decisions. This study uses secondary data obtained from financial statements listed on the Indonesia Stock Exchange (IDX). The sampling technique uses purposive sampling so that 40 companies are sampled. The analytical technique used in this research is Kruskall Wallis non-parametric analysis and test the accuracy of the prediction model. The results of this study indicate that there are significant differences between the Fulmer, Springate and Grover models in predicting the bankruptcy of the property and real estate industries. The Fulmer model is the most accurate model with an accuracy rate of 80%, a type I error rate of 70% and an error II type 3%.

Baitul Mal wa Tamwil XYZ as microfinance institutions that run the operation works with Islamic principles, in which the principal activity in the form of funding and financing to the community, always filled with uncertainty. Murabaha is a financing product that is very popular in BMT XYZ. This is because these products are considered as a product that is easy to apply and has a relatively small risk. However murabaha product was not completely safe and risk-free. Recorded murabaha financing problems in BMT XYZ currently account for 15.8% of the total amount of financing is not fully influenced by the type of contract, but is also highly dependent on the nominal size of the financing, and long periods of financing as well as other variables listed in such financing and guarantee problems character client and intervention board on the performance of managers. Therefore we need a series of procedures and methodologies that can be used to measure, identify, monitor and control risks that arise.The research problems are why the Murabaha financing is problematic in BMT XYZ and how the steps are carried out by BMT XYZ against Murabaha financing is problematic.This research is a field (field research) that is descriptive qualitative. Data were collected through observation, documentation, and interviews, while the type of data used are primary data and secondary data.Based on the findings in the field can be seen that the factors causing the problem, namely murabaha financing from the customer and the factors BMT itself. Factors of customers due to the weak economic situation of customers, the business is not smooth, character weakness and turmoil. While the factor of BMT XYZ itself is weakness analysis and carelessness account officer in collecting and analyzing data in a prospective customer financing does not correspond to the actual state of the prospective customers. Violation of the LLL by the board and the change manager within a relatively short time. BMT effort XYZ against Murabaha financing is

Sukuk and Bonds has differences and similarities. Fundamental differences between sukuk and bonds are first, underlying asset in every sukuk issuance, concept of profit loss sharing and the use of Islamic contracts. Whereas conducted research in practice of differences between sukuk and bonds are still an on-going discussion. This study aims to add the evidence in the discussion regarding whether there is differences between sukuk and bonds in the world of practice, provide investment preferences as well as educating investors in choosing sukuk or bonds as a sustainable and smooth instrument. The method used is Mann Whitney U-Test to test whether there is a different between yield to maturity (return) and standard deviation (risk) of both instruments. Using secondary data of Retail Sukuk (SR) and Retail Bonds (ORI) period 2008-2017 obtained from Indonesia Stock Exchange, Indonesia Bond Market Directory and Indonesia Bond Pricing Agency. The result shows that there is no significance difference of retail sukuk return and risk with retail bonds in Indonesia. Besides retail bonds are show higher return than retail sukuk because of higher coupon and longest mature date. While, retail sukuk is more stable rather than bonds as it backed up by the real underlying asset. Keywords: Retail Sukuk (SR), Retail Bonds (ORI), Yield to Maturity

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