Money Endowments Research Articles

Digital Platform; Real-time Monitoring and Performance Analysis of Waqf Funds

This study discusses how digital platforms can provide real-time monitoring in analyzing the performance of waqf funds collected by Islamic or philanthropy institutions. The method used with a qualitative approach by trying to describe waqf institutions that have digitized waqf, the result of this study is that digitalization of waqf through digital platform services is excellent service and fast and accurate reporting so that public trust can continue to grow in response to money endowments, another opportunity is that the performance of Islamic philanthropy institutions, in this case, waqf is strongly challenged to continue to do Innovation in digital waqf literacy.

Nazhir Legal Aspects of Cash WAQF in Indonesia in the 4.0 Era

This study aims to analyze the related law No. 41 of 2004 concerning endowments in particular the rules relating to endowment management institutions entitled to collect and manage money endowments (nadzhir waqf money) in Indonesia in the context of the era of 4.0 which emphasizes Islamic financial institutions and advances in digital technology. The method used is a qualitative research method with a normative juridical approach with data collection techniques study literature, interviews, and documentation, then analyzed through descriptive analytics. The results of this study indicate that the progress and development of technology in the 4.0 era, especially in the digitalization of the waqf program, makes the collection and management of waqf money mainly depend on the technological advancements owned by the institution, massive commitment and socialization to the public regarding money waqf, and Islamic financial institutions that collaborate with nadzhir. The recipient of the waqf money is considered to have technological devices and SDI that can support the management and collection of waqf money in Indonesia, in addition to credibility in terms of financial accountability as well as the guarantor and supervisory institutions in addition to the OJK, BWI, and DPS.
 Keywords: cash waqf, nadzhir, money

Collective endowment and its role in achieving economic and social development

The collective endowment of money is one of the mechanisms that can be used to support scientific research, by collecting cash money, investing it and spending its proceeds on scientific research. Therefore, this paper came to clarify this by standing on the reality of the collective endowment of money and the origin of its legitimacy in Islamic law, and then standing on the volume of spending on scientific research in the Islamic world by comparing it with the Western world, which uses various sources to finance this field, including the endowment, Because the field of scientific research is considered by all societies the basic means to achieve economic, social and scientific development, and this is what can be achieved or contributed to achieving if the collective endowment of money is activated in a professional manner in the field of scientific research in a way that does not intersect with the provisions of the endowment or not with the prevailing laws.

Incentive ratio: A game theoretical analysis of market equilibria

In a Fisher market, the market maker sells m products to n potential agents. The agents submit their utility functions and money endowments to the market maker, who, upon receiving submitted information, derives market equilibrium prices and allocations of the products. Agents are self-interested entities who wish to maximize their utility, and they may misreport their private information for this purpose. The incentive ratio characterizes the extent to which strategic plays can increase an agent's utility. While agents do benefit by misreporting their private information, we show that the ratio of improvement by a unilateral strategic play is no more than two in markets with gross substitute utilities for the agents. Moreover, it can be pinned down to e1/e≈1.445 in Cobb-Douglas markets. For the Leontief markets in which products are complementary, we show that the incentive ratio is at most two as well.

SDGs Value and Islamic Philantrophy Through Zakah Institution During the Covid-19

Introduction to The Problem: The mission of the zakat institution as a philanthropic booster is very necessary. As an economic empowerment for the poor and to support micro businesses. Especially when the covid 19 pandemic condition requires a wealth distribution of income and consumption from the sufficient in the weak economy condition.Objective Study: The aims of this study is to identify the optimization of the zakat institution program which involves poverty reduction and the utilization of the poor and disadvantaged. This is in line with SDG’s 1 and 8 values on poverty reduction and the provision of decent work.Methodology: This study uses an explanatory qualitative approach. A solution review of the process of managing and utilizing money waqf at LAZ Yatim Mandiri, using primary data by in-depth interviews with waqf doers and continued with source triangulation, focus group discussion that talks about covid 19 in many perspective, accompanied by the opinion of 15 academicians and 4 experts (fiqh) waqf.Findings: The result of this study showed that the potential for endowments must be balanced with increasing Nazir awareness and understanding to manage endowments of money in order to continue to be useful. Ascertaining the direction of philanthropic movements during pandemic to collect funds and distribute them to the poor and pandemic affected victims is a crucial point. The important advice that LAZ should make is to maintain the intensity of friendship with muzakki or donors and the needy, to create a socially oriented business and also can be appropriate and feasible with the propaganda method used. this needs to be done considering that in addition to humanity issues, other issues that have a severe impact on the covid pandemic 19 are the microeconomic sector and MSME.

Factors that Influence Muslim Employee Behavior to Contribute to Money Waqf through Salary Cutting

The purpose of this article is to analyse the factors that can influence the behaviour of Muslim employees to contribute to the endowment of money through salary deductions. The research method used is quantitative. The sampling technique uses a purposive sampling technique. The number of respondents was 156. The results of this study showed that the product knowledge variable had no significant direct effect on the intention of contributing to the endowment of money through salary deductions. Islamic Religiosity is having a substantial impact on the plan to add to the donation of money through salary deductions due to the amount of t-test 2.2303> 1.96. Consumer Attitude has a significant effect on the intention to contribute to the endowment of money through salary deductions because the t-test value is 2.7174> 1.96. Trust significantly influences the aim to add to the donation of money through salary deductions because the t-test value is 3,2647> 1.96. The intention has a significant effect on the behaviour of contributing to waqf money through salary deductions because of the t-test value of 13.8070> 1.96. Based on the results of the study, in principle, respondents are willing to make waqf money through salary cuts. If this can realize, it undoubtedly encourages the acceptance of waqf money, which in the end, waqf will further contribute to community economic empowerment (maukuf alaih). Related to that, we need a role model first to make further policy steps.

التأصیل الفقهی للصنادیق الاستثماریة الوقفیة

رغبت الشريعة بالوقف ترغيبا ظاهرا، ولم يزل محل عناية من المسلمين فجاءت أوقافهم متنوعة في محالها، وأوجه الصرف فيها، ومن الأشکال المعاصرة للوقف التي أخذت حظا من الانتشار: الصناديق الاستثمارية الوقفية، وذلک لما لها من الخصائص والمميزات، ويهدف هذا البحث إلى التأصيل الفقهي للصناديق الاستثمارية الوقفية، فمهد البحث بالتعريف بالصناديق الاستثمارية ومميزاتها، ولمحة عن الصناديق الاستثمارية الوقفية في المملکة العربية السعودية، ثم تناول البحث أصولا ثلاثة تبنى عليها وقف الصناديق الاستثمارية، وهي: وقف النقود، ووقف المشاع، وتأقيت الوقف. وانتهى البحث إلى حکم الصناديق الاستثمارية الوقفية بناء على الأصول السابقة، ففرزها إلى صورتين: الصورة الأولى: أن يکون الوقف لکامل الصندوق، وحکم الصندوق الاستثماري الوقفي في هذه الصورة ينبني على حکم وقف النقود، والمختار صحة وقفها، أما الصورة الثانية وهي الوقف جزئيا (وقف وحدات استثمارية في صندوق غير وقفي)، فالموقوف في هذه الصورة لا يخلو من أحد حالتين: الحالة الأولى: أن يکون الموقوف النقود التي اشتريت بها الوحدة الاستثمارية، وهذه الحالة تنبني على وقف النقود، وحينئذ لا تکون الوحدة نفسها وقفا فيجوز أن يستبدلها بغيرها، والحالة الثانية: أن يکون الموقوف الوحدة الاستثمارية نفسها، وحينئذ يبنى وقفها على (وقف النقود، ووقف المشاع، وتأقيت الوقف) وفي البحث بيان وجه البناء عليه، وخلص البحث إلى صحة وجواز وقف الصناديق والوحدات الاستثمارية في الصورتين، لما في وقفها من تحقيق مقاصد الشريعة في الوقف. The Sharia’s desire to endowment is an apparent desire, and it is still under the care of Muslims, so their endowments came in a variety of settings, and the ways of spending in them, and among the contemporary forms of endowment that have taken advantage of the spread: endowment investment funds, because of their characteristics and advantages, and this research aims to the jurisprudential rooting of funds Endowment investment, the research paved the way by introducing investment funds and their advantages, and an overview of endowment investment funds in the Kingdom of Saudi Arabia, then the research dealt with three assets upon which the endowment of investment funds is based, namely: money stopping, communal endowment, and endowment timer The research ended with the ruling on endowment investment funds based on the previous principles, so they were sorted into two forms: The first image: that the endowment is for the entire fund, and the investment endowment fund ruling in this image is based on the ruling on the endowment of money, and the choice is correct to endow it, and the second image is partial endowment (endowment) Investment units in a non-endowment fund), so the endowment in this image is not without one of two cases: The first case: that the endowed is the money in which the investment unit was purchased, and this case is based on the endowment of the money, and at that time the unit itself is not an endowment, so it is permissible to replace it with something else. The second: that the endowment is the investment unit itself, and at that time its endowment is based on (the endowment of money, the public endowment, the endowment time) and in the research an explanation of the way to build on it. Stay.

TINJAUAN FIKIH WAKAF DAN UNDANG-UNDANG NOMOR 41 TAHUN 2004 TENTANG WAKAF TERHADAP PENGELOLAAN WAKAF UANG OLEH YAYASAN TENDA VISI INDONESIA

ABSTRACTToday many non-endowments institutions that receive and manage endowments of money include the Tenda Visi Indonesia Foundation (TEVIS). The TEVIS Foundation manages and distributes it according to its programs. So, this article was conducted by the author to find out the management of waqf money according to waqf fiqh and Indonesian Law Number 41 of 2004 concerning endowments, as well as the suitability of the management of endowments in money at the Tenda Visi Indonesia foundation with the concept of waqf money and Law No. 41 of 2004 concerning endowments. The method in this study is a qualitative method with a normative juridical approach, the type of research is field research using field data collection methods with observation, interviews, and also literature studies. The results of the study concluded that: first, the management of cash waqf according to fiqh only be distributed to what is permitted sharply according to law No. 41 of the management of cash waqf is carried out on banking products. Second, cash waqf management conducted by the TEVIS foundation is carried out in the real sector. Third, the management of cash waqf carried out by the TEVIS foundation was under fiqh waqf and according to Law No. 41 of 2004 concerning waqf, there is a discrepancy because of the TEVIS foundation doesn’t register its money to the minister and its management doesn’t go through banking product. Keywords: Fiqh of Waqf, Law No. 41 of 2004, Endowments of Money.

Analysis of Two Endowment and Attorney Models of Takaful in Malaysia and Iranian Law

Background and Aim: One of the most important tools with the function of insurance in the contemporary era is Takaful, which is based on Islamic jurisprudence (Sunni jurisprudence) and despite its short life, has gained a good position in the insurance market in Islamic countries. Since Islamic contracts are used in the structure of Takaful, a jurisprudential and legal study of the structure of Takaful and attention to the interests of participants as a guarantee for the stability of this institution in the insurance market is inevitable. Materials and Methods: This is a descriptive Study. Ethical Considerations: Honesty and confidentiality have been observed. Findings: In this article, two endowment and attorney models of Takaful based on jurisprudential and legal principles are discussed and the theories of Sunni and Imami'ah jurisprudence and Iranian and Malaysian law system regarding the doubts in Takaful are examined. Non-acceptance of endowment of money, non-acceptance of endowment by legal entities, incompatibility of endowment of company property with the nature of insurance commercial companies, problems in Imami jurisprudence and Iranian law are important impediment on the model of endowment. Conclusion Some Takaful contracts, such as the endowment institution, may not be in line with the rules of endowment in Iran, but the model of the attorney contract can be considered correct in both Imami'ah (Shiite) and Sunni jurisprudential views according to the principle of necessity and the principle of validity of contracts.

INFLATION AND INEQUALITY IN A GROWING ECONOMY WITH CASH AND CREDIT GOODS

We develop a dynamic general equilibrium growth model, where households purchase final goods on cash or credit and have different capital and money endowments, to investigate whether inflation affects trends in income and consumption inequality. We show that, under a strong substitutability between cash and credit goods, inflation has a negative relationship with income inequality, but a U-shaped relationship with consumption inequality. The divergence between income and consumption inequality explains several recent empirical observations. This result has important policy implications, as consumption inequality better reflects the welfare distribution whereas income inequality fails to capture consumption disparities resulting from different consumption and asset distributions across households. In the growth model with heterogeneous households, there is a mixed relationship between growth and income inequality, confirming the existence of the Kuznets curve. The inflation-driven asset reallocation might also produce a Mundell–Tobin effect, enhancing growth.

ASPEK HUKUM FINTECH SYARIAH UNTUK PENINGKATAN FINDRISING WAKAF UANG DI INDONESIA

This study aims to determine the legal aspects of financial technology related to endowments in making finding money endowments in indonesia. Waqf money in indonesia is very potential, if maximized by all aspects including legal instruments and technological advances in socializing the urgency and benefits of waqf for the economic, social and religious progress of the community. The method used is a normative juridical method through primary, secondary and tertiary legal data relating to fintech and endowments of money. The findings of this study are that the development of legal related to waqf fintech can be done from both national law and islamic law in finding endowments for benefit as long as they maintain harmony and waqf requirements, and maintain the core of waqf assets collected to be developed in other more useful forms.

WAKAF NON MUSLIM DAN WAKAF UANG MENURUT PANDANGAN WAHBAH ZUHAILI

Islam presents itself as a philanthropic-faced religion, by realizing social security for the community to achieve a noble life. With the current development, it is important to bring up various challenges related to waqf law in Islam, specifically endowments, non-Muslims, and endowments of money. This article provides an explanation of how non-Muslim endowments and money waqf in Islam. According to Wahbah Zuhaili, Waqf from non-Muslims is permitted. Like in the activities of building mosques, schools and other facilities, both money, building materials and energy used for the construction. Donations or assistance are permitted, with conditions not binding and will not cause danger or slander in the future, both for Muslims and for supported institutions. According to Wahbah Zuhaili, waqf money is permissible. The Hanafi school that allows money waqf. For the reason of Istihsan bi al-Arabi, because many people have done it. In this regard, Wahbah Zuhaili states, in al-Fiqh al-Islamiy wa ill Adillatuhu, what is meant is generally as follows, "Mutaqodimiin of the Hanafi School allows waqf money and dinars".

Wakaf Uang Terhadap Program Pengetasan Kemiskinan di Kota Metro

Abstract
 In the provisions of the law there are two models of money waqf, namely waqf money for a certain period of time and endowments of money forever. A certain period of money waqf must be invested in banking products to make it safer and easier for the waqf party to receive the money back at maturity. While endowments of money are forever, na-zir has full authority to manage and develop waqf money to achieve the goals of their waqf. If investment activities use waqf collection funds, then for the net business profits of this investment (ie gross income minus operating costs), it will be distributed in accordance with the provisions of the waqf law, namely 90% of the profits will be intended for endowments (mauquf 'alaih) and 10% for manager or offline receipts. The managed money waqf can have a multiplier effect on the economy of Metro City, both the results of waqf investment are given in the form of economic sector assistance and non-economic sectors. These results will directly and indirectly be able to provide a significant influence in alleviating poverty. The Metro Waqf Movement is a voluntary movement that invites all campus residents to move together. Cash Waqf is a waqf mechanism for building the endowment of the ummah. By representing once but reward without stopping. In contrast to alms which are once used up, cash waqf can be developed into business units and the results are for the benefit of the ummah. So far, cash waqf has been carried out by IAIN Metro lecturers and employees voluntarily. We do cash waqf by setting aside monthly salary according to willingness. We are optimistic that this voluntary movement will increasingly invite other people to get involved without coercion. For this reason, socialization of waqf money must be continuously campaigned by all parties, especially on the Agus Salim Metro IAI Campus.

The problem of multiple commons: A market design approach

There are several locations, each of which is endowed with a resource that is specific to that location. Each agent will go to a single location and harvest some of the resource there. Several agents may go to each location, and thereby cause a congestion effect that is modeled in a general way. We assign harvesting rights based on preferences alone, though we later extend the model to accommodate private endowments of money. We find the best allocation rule in the class of rules that are strategy-proof, anonymous, and that satisfy a weak continuity property. For a special class of preferences, we also find an ascending mechanism, similar to an auction, that implements the rule. The rule coincides with a special pseudo-market equilibrium, wherein agents buy their desired resource with tokens distributed by the social planner.

WAKAF UANG SOLUSI ALTERNATIF MEMBERDAYAKAN EKONOMI UMAT STUDI KASUS PADA BMT MANDIRI SEJAHTERA KARANGCANGKRING JAWA TIMUR

Bayt al-Mal wa al-Tamwil (BMT) is a microfinance institution that is operated with profit sharing or sharia principle by developing micro and small businesses, in order to elevate degrees and dignity and defend the interests of the poor. BMT (Baitul Maal Wat Tamwil) also receives deposits from zakat, waqf, infaq and sadaqah funds and optimizes its distribution in accordance with its regulations and mandates. The concept of money or cash waqf even though only with 10,000 nominal customer however, endowments have enormous potential to be explored and developed with an emphasis on how the potential of money waqf can be an alternative solution in order to empower the ummah economy through BMT Mandiri Sejahtera Karangcangkring East Java. This BMT Mandiri Sejahtera Karangcangkring in East Java outlines the types of products classified into three, namely savings, financing and services. There are three deposits: Simaster, Hajj and Umrah savings, and qurban savings. There are five financing, namely murabahah, rahn, mudarabah, musharakah, and ijarah. While service products such as exchange of ringgit money, remittances from within / abroad, PLN online payments, Token, Telkom, FIF, BAF, Adira Finance, Oto Finace, WOM Finance, STNK/mutation installment installments. Although there are weaknesses, the result of research shows that the threat that is feared will hamper the endowment of money products on Mandiri Sejahtera BMT but this is not a burden, the most important is that this product does not violate the rules of sharia and is permissible in Islam because the application of money waqf products in Mandiri Sejahtera BMT is appropriate, namely the value the principal remains and the remaining proceeds from the money endowments will be distributed for virtue.

Wakaf Uang Solusi Alternatif Memberdayakan Ekonomi Umat Studi Kasus Pada BMT Mandiri Sejahtera Karangcangkring Jawa Timur

Bayt al-Mal wa al-Tamwil (BMT) is a microfinance institution that is operated with profit sharing or sharia principle by developing micro and small businesses, in order to elevate degrees and dignity and defend the interests of the poor. BMT (Baitul Mal Wat Tamwil) also receives deposits from zakat, waqf, infaq and sadaqah funds and optimizes its distribution in accordance with its regulations and mandates. The concept of money or cash waqf even though only with 10,000 nominal customer however, endowments have enormous potential to be explored and developed with an emphasis on how the potential of money waqf can be an alternative solution in order to empower the ummah economy through BMT Mandiri Sejahtera Karangcangkring East Java. This BMT Mandiri Sejahtera Karangcangkring in East Java outlines the types of products classified into three, namely savings, financing and services. There are three deposits: Simaster, Hajj and Umrah savings, and qurban savings. There are five financing, namely murabahah, rahn, mudlarabah, musharakah, and ijarah. While service products such as exchange of ringgit money, remittances from within / abroad, PLN online payments, Token, Telkom, FIF, BAF, Adira Finance, Oto Finace, WOM Finance, STNK/mutation installment installments. Although there are weaknesses, the result of research shows that the threat that is feared will hamper the endowment of money products on Mandiri Sejahtera BMT but this is not a burden, the most important is that this product does not violate the rules of sharia and is permissible in Islam because the application of money waqf products in Mandiri Sejahtera BMT is appropriate, namely the value the principal remains and the remaining proceeds from the money endowments will be distributed for virtue. Keywords: Cash Waqf, Society Economic Empowerment, BMT Mandiri Sejahtera

Urgensi Wakaf Produktif Dalam Pembangunan Ekonomi Masyarakat

Strategies that can be developed to empower this productive zakat, ranging from legal products to building networks in the form of productive investment partnerships. One is money endowments that can open up unique opportunities to create investments to provide religious services, educational services, and social services. Nazhir has an important role in managing endowments property in accordance with what is desired by the endowments and can be benefited by the community then Nazhir must have programs work both short-term programs and long-term programs. In order to develop endowments productively, the government established Badan Wakaf Indonesia (BWI) which has the purpose to coordinate with Nazhir and the development of national and international endowments management. The medium and long-term program is to develop existing Nazhir institutions to be more credible (professional and trustworthy) so the institutions should be directed, nurtured and given stimulus (stimulus) so that the endowments property can be developed productively.

Justifications and Questions in Detecting Deception

Truth-tellers and deceivers use justifications to bolster their credibility, but given their different motivations, truth-tellers and deceivers may use justifications differently. Participants were assigned the role of allocator or recipient in an ultimatum game. Allocators received money based on their performance on a task and made an offer. Recipients did not have information about allocator’s task performance or amount the allocator received, and therefore, allocators could deceive. Liars provided more plausible details to support their offer by stating the structure of their task; this strategy backfired and led to more detection of lies. Truth-tellers were more likely to disclose advantageous information about their endowment of money in their justifications, and this reduced suspicion in their offers. Deceivers used more wrap-up questions to end the interaction; this did not help reduce partner suspicion. Asking questions in general did not improve detection accuracy.

WAKAF SEBAGAI SOLUSI PERMASALAHAN-PERMASALAHAN DUNIA PENDIDIKAN DI INDONESIA

Education is the mainkey for improving the quality of civilization and human resources. Education in Indonesia facing a wide range of educational issues, such as collapsing school buildings, children drop out of school because of the expensive cost, teachers who lack of focus on teaching due to restricted honors received, etc. Islam has the solutions for those problems through waqf instrument. Waqf is a typical Islamic financing instrument that can be a solution to the problems of education in Indonesia. This paper attempts to discuss the role of endowments for the development of education, and the steps that must be done so that endowments can be a solution to the problems of education in Indonesia. From the discussion, it can be concluded that Indonesia has a huge potential asset of waqf to be developed, ie the number of waqf land and the very large endowments of money as waqf. Â Waqf must be managed by an independent charitable organization, professional, trustworthy and focusing on productive forms of waqf.

Incentives for Strategic Behavior in Fisher Market Games

In a Fisher market game, a market equilibrium is computed in terms of the utility functions and money endowments that agents reported. As a consequence, an individual buyer may misreport his private information to obtain a utility gain. We investigate the extent to which an agent's utility can be increased by unilateral strategic plays and prove that the percentage of this improvement is at most 2 for markets with weak gross substitute utilities. Equivalently, we show that truthfully reporting is a 0.5-approximate Nash equilibrium in this game. To identify sufficient conditions for truthfully reporting being close to Nash equilibrium, we conduct a parameterized study on strategic behaviors and further show that the ratio of utility gain decreases linearly as buyer's initial endowment increases or his maximum share of an item decreases. Finally, we consider collusive behavior of a coalition and prove that the utility gain is bounded by 1/(1 - maximum share of the collusion). Our findings justify the truthful reporting assumption in Fisher markets by a quantitative study on participants incentive, and imply that under large market assumption, the utility gain of a buyer from manipulations diminishes to 0.