Waqf is a charitable institution within Islam and Muslim contexts. Waqf translates to an endowment held in trust and is utilised for charitable purposes such as education, poverty alleviation, a place of worship, or medical care. In the educational development, waqf has funded many Islamic educational institutions, colleges, universities, libraries, and the like. In the context of Indonesian society, the modern system of waqf institution has been implemented to establish the pesantren (Islamic schools) and Islamic universities. This paper presents the example of waqf in education that has been practised in Indonesia. Darussalam Gontor is taken as an example since it is well-known as the first modern pesantren in Indonesia, endowed in 1958. It is a successful waqf-based educational institution. In reality, waqf-based institution can generate significant benefits in support of education and community development. The study shows the values-based management at the core of this waqf-funded Institution and reveals the concept of waqf basyr (Human waqf) which looks at the contribution of human resources.In additionto this essay also highlights the internal control practiced preserving the pesantren’soperationalsustainability and to mitigate the mismanagement.This study is based on recent qualitative research comprising both primary and secondary data. The primary data included interviews with the core and peripheralrespondents within the Institution. Secondary data was collected from in-depth literature reviews including the annual report of this Institution, books, journal articles, and relevant data and documents. The study's finding presents how the values-based education and human waqf implemented in this pesantren could be a role model for supporting the educational development system in the modern world.Additionally, the result of study shows that the internal control can mitigate the miss-managements and enhances the sustainability of the operational of thisInstitution. Importantly, there is a need to broadly bring values-based management, skilled human waqf (as human resources), and internal control to the educational or waqf institutionsto enhance their operational sustainability and support their impactson community development

The hegemony of capitalist and socialist systems in economics is increasingly giving rise to prolonged economic problems and crises, as well as widening the gap between the poor and the rich. Therefore, appropriate solutions are needed to solve problems in conventional economics. Methodology plays an important role in generating concepts and theories. The Islamization of economics methodology must begin with a discussion of epistemology and axiology in economics. This research aims to reconstruct the methodological concept of economics by offering Islamization as an answer to the weaknesses in the foundations of conventional economic science. This research is a library research using an interdisciplinary approach to integrate the discipline of conventional economics with the discipline of Islamic philosophy. This research concludes that building a solid scientific methodology is very necessary, especially the Islamization of economics methodology which is a form of reconstruction and reorientation of economics, namely, recognizing Western economics and then filtering out values ​​that are not in accordance with Islam in it, followed by instilling those values. Islam into it.

The recent appraisal of Islamic Banking and Finance (IBF) development has focused on the interest based banking system. Banks role and function have been retained to create sharia compliant instruments to replace conventional banks interest based instruments. Another issue is the objective of Islamic banking to contribute to social obligation despite profit maximization. In this context, IBF institutions have been involved in debt financing oriented transactions such as murabahah instead of musyarakah and mudharabah, as they are more profitable. This research attempts to clarify Islamic banking's objective derived from Muslim scholars views and how it complies with sharia. Thus, it is necessary to rethink the paradigm of IBF that is in line with pure Islamic economics, whereas conventional banking has been shifting toward social banking. The methodology used is qualitative-descriptive-literature. The result is, several applied integrated models in IBFs, such as Social Islamic Bank Limited (SIBL), have offered Mudaraba Waqf Cash Deposit Account (MWCDA). Then sadaqa house is provided by Bank Islam Malaysia Berhad (BIMB), an integrated institution model in which Islamic banking can cooperate with other Islamic social finance such as waqf institutions in Indonesia. Finally, the research finding argues that Islamic banking's paradigm is to promote the ummah's maslahat by integrating commercial and social aspects into its operational and objective.