POOL OF FUNDS APPROACH AND ASSET ALLOCATION APPROACH IN SHARIA'S PERSPECTIVE (A Literature Review)

Abstract

The aim of this research is to explore the Islamic perspective on the conventional thought of funds banking allocation methods, they are asset allocation approach and pool of funds approach, which one of them is practiced in Islamic banking in Indonesia, it is pool of funds approach. Sharia instruments that used to explore Islamic perspective on those two conventional methods are the verses of Islamic values in transaction, they are doing amanah in muamalah as taught in An-Nisa 68, being identified the owned property as taught in Al-Baqarah 188, doing abetter notation in muamalah as taught in Al-Baqarah 283 and being fair in fulfilling weight and measure as taught in Hud 85. Other used sharia instruments are history of Prophet Muhammad pbuh and Caliph Umar bin Abdul Aziz and Fiqh special axiom in muamalah. This descriptive qualitative research with the method of content analysis data finds that the asset allocation approach is more agreeable method to all sharia instruments that used in this research.Keywords: Al-Qur’an, Tafser, Islamic Values in Muamalah, Islamic BankPrincipal, Bank Fund Allocation MethodsAbstrakPenilitian ini berujuan untuk mengetahui pandangan syariah terhadap metode alokasi dana bank yang berasal dari pemikiran konvensional, yaitu pool of funds approach dan asset allocation approach, dimana pool of funds approach dipraktikan di perbankan syariah Indonesia. Instrumen syariah yang digunakan dalam penelitian ini atau yang menjadi tolak ukur pandangan syariah terhadap kedua metode tersebut adalah nilai-nilai Islam dalam bermuamalah yang terkandung di dalam Al-Qur’an, yaitu berlaku amanah di dalam surat An-Nisa 58, jelasnya sumber kepemilikan harta didalam surat Al-Baqarah 188, melakukanpencatatan yang baik didalam muamalah dalam surat Al-Baqarah 283 dan berlaku adil dalam memenuhi takaran dan timbangan didalam surat Hud 85. Instrumen syariah lainnya yang digunakan adalah sejarah keuangan yang ada hubungannya dengan sistem pengalokasian dana pada zaman Nabi Muhammad Saw dan Khalifah Umar bin Abdul Aziz, serta Kaidah Khusus Fiqh di bidang muamalah. Penelitian dekriptif dengan pendekatan kualitatif dan content analysis sebagai alatanalisis data menunjukan bahwa metode asset allocation approach lebih sesuai dengan nilai-nilai syariah yang terdapat di dalam instrument-instrumen syariah yang menjadi tolak ukur di dalam penelitian ini.Kata Kunci: Al-Qur’an, Tafsir, Nilai Islam dalam Bermuamalah, PrinsipOrepasional Bank Syariah, Metode Alokasi Dana Bank

Harmonizing and constructing an integrated maqāṣid al-Sharīʿah index for measuring the performance of Islamic banks

“…The main disadvantage of employing conventional benchmarks to measure IBs’ performance is that they fail to investigate Sharīʿah (Islamic law) facets (Muhammed and Md Taib, 2015). The rationale for the establishment of IBs is the promotion of equitable distribution of wealth (Khan, 1997), Sharīʿah ethics and values (Bedoui, 2012; Hudaefi and Bisyri, 2014; Bedoui and Mansour, 2015), religious business philosophy (Haniffa and Hudaib, 2007), Islamic moral economy (Asutay, 2012) and Islamic worldview (Laldin and Furqani, 2013). Thus, IBs are expected to bring maṣlaḥah (public interest) for human well-being.…”