Purpose This study aims to scrutinize the modus operandi of global financial frauds in Islamic financial institutions and assesses whether those frauds can be prevented using High Standards of Shariah Governance. Design/methodology/approach A qualitative research methodology is deployed to conduct this study by analyzing and scrutinizing academic journals, reports, regulatory guidelines and articles. Findings The findings in this study show that the modus operandi ranges from bribery, forged documents, unlawful profiteering, credit limit allowance ignorance, Ponzi scheme, culprit collaboration from inside and outside the banks. This paper also argues that the centralized and high-standard Shariah governance framework better prevents fraud by providing better Shariah supervision and risk management measures. Research limitations/implications The observations in this study are limited to financial fraud at Islamic financial institutions that happened in the 21st century with more than $100m in financial loss or penalty. Originality/value This study may contribute significantly by providing insight for regulators to strengthen the Shariah governance framework in their respective countries. It also benefits Islamic financial institutions by enhancing their capacity to anticipate future financial fraud.

Biodegradable foam is a packaging material made from renewable resources which is very prospective to substitute synthetic polystyrene foam. Starch is now dominantly use as a promising material to produce this foam due to its superior characteristic and its availability. However, starch is preferable as food source thus it is important to looking for a material such as corn hominy to reduce its usage in biopolymer production. Corn hominy is a by-product of corn milling which has high content of starch and fiber. Its high fiber content could improve the strength of the foam. This research is aimed to formulate the composition of corn hominy and cassava starch to produce good quality of biodegradable foam. Polyvinyl alcohol (PVOH) is added for further better physical properties. The physical analysis showed that the composition of cassava starch and corn hominy feed has affected physical properties of biodegradable foam. Increasing the content of starch resulted on increasing of foam expansion. In contrast, the more starch content in the foam, the more brittle the foam will be. The best composition was given by ratio of 80 %-wt cassava starch and 20 %-wt corn hominy. The adding of PVOH affected the physical properties of less hardness and less brittle of the foam. Keywords: biodegradable foam, cassava starch, hominy feed, PVOH Abstrak Busa biodegradable merupakan bahan pengemas yang terbuat dari bahan nabati, ditujukan untuk subtitusi polistirena busa sintetik. Bio-polimer ini umumnya terbuat dari pati singkong karena ketersediaannya yang melimpah dan keunggulan sifat-sifat busa pati yang dihasilkan. Bagaimanapun, singkong adalah bahan pangan, sehingga bahan lain seperti ampok jagung perlu diujicobakan untuk mengurangi penggunaan singkong pada produksi bio-polymer ini. Ampok merupakan hasil samping dari penggilingan biji jagung. Kandungan serat ampok sangat tinggi dan diyakini dapat memperbaiki sifat fisis mekanis busa seperti meningkatkan kekuatan tarik dan mengurangi kerapuhan busa. Penelitian ini bertujuan untuk memformulasi komposisi pati singkong dan ampok jagung untuk memproduksi busa biodegradable berkualitas baik. Polivinil alkohol (PVOH) ditambahkan untuk membantu memperbaiki karakter fisik busa. Hasil penelitian menunjukkan bahwa rasio pati dan ampok mempengaruhi sifat fisik mekanis busa. Peningkatan kandungan pati dalam busa akan meningkatkan sifat rapuh bahan. Komposisi terbaik dihasilkan dari busa berbahan 80%-b pati dan 20 %-b ampok. Penambahan PVOH dapat memperbaiki sifat fisik busa dengan menurunkan kekerasan dan kerapuhan. Kata kunci: busa biodegradable, pati singkong, ampok jagung, PVOH

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Zmart program is a micro retail shop empowerment program using zakat funds to alleviate poverty, especially in urban areas. This research examines the impact of Zmart program on poverty alleviation and women empowerment. The general poverty indicators based on poverty line and had kifayah standard show that the number of poverty decreases after Zmart intervention. In addition, the impact of Zmart also measured using BAZNAS Prosperity Index (BPI) with a score of 0.68, meaning Zmart has a good impact on its recipient. The Gender Development Index (GDI) in the Zmart program shows an increasing value from 75.97 to 139.32. It means that there is significant emancipation for the female group compared to the male group in the program. These results show that the Zmart program favorably empowers women as it is shown that the GDI value exceeds 100 points.

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