Adi Saifurrahman2025-01-142025-01-142017https://studentrepo.iium.edu.my/handle/123456789/32652Baitul Maal is deemed as a vital financial institution in the past, apart from its role as the state's treasury in managing all types of revenues and expenditures that the Islamic State had, previously, Baitul Maal served as the assurance body to ensure the public security and preserve the welfare of the public, due to this important function, the modern Muslim civilization, especially in Indonesia, once more intend to establish the identical institution and have the aspiration to replicate the past function of Baitul Maal. When this research is conducted, the main purpose of this research is to compare the role and function of the past Baitul Maal with the role and function of present Baitul Maal in Indonesia, identify and analyze the similarities and differences between the two generations, is the present Baitul Maal truly reflects the role and function of the past Baitul Maal or it is just merely a name? The result of this research implies that there are several similarities and differences between the two institutions, the similar aspect between the two generation is in the aspect of concept and philosophy of Baitul Maal, both institutions has identical concept in making the state as the welfare state, and for the philosophy aspect, both institutions has similar philosophy in developing the people with balance in their spiritual and financial aspect. Whereas the different aspect between the two institutions is in the aspect of definition, source of wealth or revenues, expenditures, and organizational structure, In general, the past Baitul Maal serve as the state's treasury while the present Baitul Maal serve as the charitable body, due to this different characteristic between the two institutions, the past Baitul Maal has a wider type of revenues to be managed and larger type of expenditures to be spent, whilst current Baitul Maal is limited to the sadaqah types fund only that consist of Zakat, Infaq, Sadaqah, and Waqf, thus, its expenditures is also limited and only can be spent to the beneficiaries and the needy, moreover, in term of organizational structure, the past generation structure was established based on the revenues and expenditures while present generation structure was formed based on modern corporate governance, Additionally, in this research, the researcher includes the innovative aspect of present Baitul Maal, issues and challenges of the present Baitul Maal, and predict the prospect of the present Baitul Maal in the future. Keywords: Baitul Maal, Comparison, State's treasury, Charitable Body, Revenues, Expenditures, Sadaqah, Issues and Challenges, Prospect.enmaster thesis