ACKNOWLEDGEMENT Realizing their dependences on so many persons in completing this research report, the researchers feel to necessitate themselves to convey gratitude for all indispensable direction, guidance, and assistance. So in this occasion, the researchers would like to express their greatest debt and deepest thanks especially to those in charge of postgraduate program in Indonesian universities such as Head of Master of Science in Islamic Economics Program University of Airlangga Surabaya; Director of Post Graduate Program of Islamic State University of Sunan Ampel Surabaya; Director of Post Graduate Program of Islamic State University of Sunan Kalijaga Yogyakarta; and the Head of Department of Master Program of Islamic Economics School of Islamic Economics and Business, Tazkia, Bogor, who have kindly helped researchers and provided for them many required data. Our gratitude is also due to the Director of International Institute of Islamic Economic and Head of Department of Economics, International Islamic University Islamabad Pakistan who vi have helped researchers sincerely and provided for them accommodation, transportation and many required data. The Head of Department of Economics, Director of International Research and Study Center of Islamic Economic and Finance Istanbul Sabahatain Zaim University, Turkey who have supported researchers and provided many important data. The Head of Economics of Kulliyah of Economics and Management Sciences International Islamic University Malaysia and The Dean of Faculty of Economics and Muammalat of Universitas Sains Islam Malaysia who have supported researchers and provided many important data. Special thank is also due to Dr. Setiawan Lahuri and Eko Nurcahyo, who were fully involved in the process of this research from the very beginning, especially during data collection from various universities and School of Economics. Finally we would like to convey our gratefulness to the Minister of Religious affairs of the Republic of Indonesia especially the Director of Islamic Higher Education, Prof. Dr. Dede Rosyada, M.A who provided this research budget for the development of Islamic sciences and humanity. Without this financial support this research would not have been successfully completed. May this research be valuable and useful for the readers and for the development of Islamic Economics. Authors