• Fathurrahman Thaha


This paper is mainly concernced on how to implement state sharia securities  using the value chain basis at Majene State Islamic Institute. This type of research is descriptive qualitative research, using a phenomenological approach, the data sources in this study, including primary data in the form of the results of field studies conducted at this college, and secondary data in the form of documents that are considered supportive and relevant to research studies. The results of the study showed that the activities at Majene State Islamic College consisted of: (1) main activities, including: selection of prospective new students, academic activities, teaching and learning processes, initialization and promotion, research and community service. (2) supporting activities, including: the procurement of infrastructure and financing of State Sharia Securities  which are supported by HR management and financial management that is illegal. The two activities have relevance, so that a value chain is formed which produces benefits in the form of security, health, comfort and convenience of State Sharia Securities  buildings from State Sharia Securities , and the value of benefits, in the form of maintaining religion, soul, mind and wealth. Because the end result of this value chain is benefit, the actual activity of procuring SBSN financing facilities at Majene State Islamic Institute, researchers have the conclusion that the concept of Islamic value chain is formed.


Directorate of Sharia Financing, Question and Answer book on Sharia Securities of Sharia-based State Sukuk Financial Instruments (Edition II, Ministry of Finance of the Republic of Indonesia),

Proposal document, Proposal, Construction of 2017 STAIN Majene SBSN Project

Proposal document, Activity Reference Framework (KAK), Development of 2017 STAIN Majene SBSN Project

Proposal documents, Activity Feasibility Terms and Conditions Documents (DSKP), 2017 STAIN Majene SBSN Project Development

Jusmaliani, Management of Human Resources, (Cet. I, Publisher: PT. Bumi AksaraI, 2011),

Jauhar Ahmad Al-Mursi Husain, Maqshid Syariah, translator: Khikmawati, Publisher: Amzah, Sinar Grafika Offset, cet: III, Jakarta, 2013

Ministry of Religion of the Republic of Indonesia, Regulation Number 38 of 2016 concerning the Establishment of the Majene State Islamic College

Ministry of Research and Technology and Higher Education, Regulation Number 44 of 2015 concerning National Standards for Higher Education in article 33

Large Dictionary of Indonesian Language (Edition IV, Gramedia, Jakarta, 2008),

Kotler Philip and Kevin Lane Keller, Marketing Management (Thirteenth Edition, Jakarta: Erlangga, 2012),

Indonesian Ulema Council, Fatwa of DSN-MUI No. 69 of 2008 concerning SBSN.

Indonesian Ulema Council, Fatwa of DSN-MUI No. 70 of 2008 concerning SBSN Issuance Method

Indonesian Ulema Council, Fatwa of DSN-MUI No. 71 of 2008 concerning Sale and Lease Back of SBSN

Indonesian Ulema Council, Fatwa of DSN-MUI No. 72 of 2008 concerning SBSN Sale and Lease Back

Ministry of Finance of the Republic of Indonesia, PMK Number 120 / PMK.08 / 2016 concerning Procedures for Monitoring SBSN

Michael Porter, Conventional Advantage, Competitive Advantage, Creating and maintaining Superior Performance, (Charisma Publising Grouf, 2017)

Republic of Indonesia, Law Number 19 Year 2008, concerning State Sharia Securities

Republic of Indonesia, Republic of Indonesia Law Number 12 of 2012, concerning Higher Education

Republic of Indonesia, Law Number 28 of 2002 concerning Building Buildings.

Abstract viewed = 418 times