Potential Of Waqf Research Articles

Cash Waqf Linked Sukuk: Potential and Challenges

Waqf as an instrument of Islamic economics in the modern era as it is today. Indonesia with the most Muslims in the world has a very large potential for waqf, with a nominal potential of approximately Rp. 2,000 Trillion and it would be a shame if that great potential could not be optimized as well as possible. Then CWLS is expected as an alternative instrument for optimizing the potential of waqf and examining the obstacles that will be faced . The purpose of this research is Cash Waqf Linked Sukuk as an instrument for optimizing the potential of waqf in Indonesia. CWLS is a productive cash waqf which is expected to improve the national economy. The research method used is library research where by reviewing all articles, books, and writings of experts to strengthen CWLS, you can maximize the potential of waqf in Indonesia. The results obtained are that CWLS is able to be an alternative for optimizing the potential of waqf, then the obstacles faced are the level of literacy as community insight in doing waqf and the level of religiosity of the community in doing waqf.
 

KAFTEN: Productive Waqf Asset Development Applications to Support The Welfare of Islamic Boarding School

Waqf is a legal act of endowment to save and give a part of his property to be used for religious purposes and public welfare by the Syariah. One form of waqf management is establishing the Darul Istiqomah Islamic boarding school in Sinjai Regency, a waqf land area of 50.000 m2. But the form of empowerment is still not optimal due to lack of human resources and unclear direction developing productive waqf sustainability. The purpose of this study is to provide several choices of planning solutions in the form of KAFTEN application (Waqf for Islamic Boarding School), which synergizes related parties in maximizing the potential of waqf. This research is a qualitative descriptive and SWOT analysis using data collection techniques, namely direct interviews with the Darul Istiqomah Islamic Boarding School managers and students. Planning a solution offered by researchers to overcome the problems faced by waqf managers is to develop KAFTEN applications online, and offline that can be a means of education and mediation to synergize parties concerned with developing the potential for waqf and welfare of Islamic boarding schools. The implication of this research is to make KAFTEN a media for optimizing waqf in a directed and sustainable way.

Pengelolaan Wakaf Uang Pada Lembaga Pusat Pengelolaan Dana Sosial dalam Bidang Pendidikan di Universitas Airlangga Surabaya

One of the institutions in Islam that has a great contribution and potential to the welfare of Muslims in waqf. Waqf is also a religious practice which is closely related to the welfare of the people. One of the sources of Islamic finance which has the potential to develop the economy of the people is waqf. Even though the potential of waqf in Indonesia is quite large, the management of waqf in Indonesia is still said to be underdeveloped when compared to other countries even though it has such a large contribution. With the potential for land waqf which is very broad, which should have and save a very large economic potential, currently it has not been managed optimally. However, the waqf assets in Indonesia in the form of land in the management and allocation are still allocated for mosques at 44.64%, musholla 28.23%, schools 10.63%, social 8.58% and funerals 4.50%.

Strategy for Improving the Quality of Waqf Institutions Through Good Waqf Governance

The sustainability of the benefits of waqf is possible because of the implementation of productive waqf can support various social and religious activities. Even so, good and innovative management is still needed in order to achieve professional waqf management, namely good waqf governance. This paper aims to examine the concept of good governance, the potential of waqf in Indonesia, and the institutional problems and solutions of waqf in Indonesia. This is a library research using a qualitative method and descriptive analytic study. Data were collected using the documentary method, which comes from books, journals, internet, and papers. The results of this study indicate that the donated land assets in Indonesia are 52.245,41 hectares spread over 385.898 locations. Most of the use of the waqf land is still in the form of direct waqf (consumptive), dominated by the construction of mosques by 44,26% and musholla (a prayer room) by 28,43%. Meanwhile, the potential for cash waqf in Indonesia reaches 3 trillion per year with an estimated number of generous Muslims of 10 million and an average monthly income of IDR 500.000 to IDR 10.000.000. Regarding problems in the development of waqf related to waqf management, including the management that is not optimal, even many are mismanaged which results in many waqf assets being neglected, some even missing. The solution lies in the existence of nadzir and a solid team work to maximize the expected results of waqf where waqf management requires good governance which can be used as a benchmark for whether performance in the organization is based on five principles, namely transparency, accountability, responsibility, independence and fairness or not.

Waqf Based Education Independence In Making Islamic Education Institutions Quality

Education should be easily accessible for every child of the nation. There are still problems in the world of education, especially for people with low income. The potential of waqf is being promoted and developed in this country. However, it is unfortunate that the new funding has been allocated only as a boost to state finances, and the Indonesian Waqf Board has distributed it to the Ahcmad Wardi Eye Hospital in Serang, So through this research, the researcher proposes that the Indonesian waqf body also participate in developing a national scale Islamic education that can be accessed by anyone. like a quality Islamic education institution such as Al Azhar in Cairo and so on, where these educational institutions become large because of the independence of the institution that is financed by waqf. This research uses descriptive qualitative method. This research was conducted in order to aim for educational institutions to become independent through the empowerment of waqf.

Relevance of the national movement of cash waqf for advancing the sharia economy in modern times in Indonesia: a review study

This study aims to determine the relationship between the movement of national waqf funds and Islamic leaders' efforts in advancing the Islamic economy in Indonesia. The success of the country's economy is inseparable from various economic movements in the community, including the national waqf fund movement. To prove a clear connection and understanding, we collected secondary data from various scientific publications that discuss the problem in question. Then we thoroughly criticized the phenomenological approach design guidelines for answering questions with elements of validity and reliability. Our analysis is strongly influenced by the theory of qualitative research methods of social studies. To facilitate this review study, we rely on data collection via Google online search and the Grammarly Premium app to report in the standard language of instruction for international publications. Finally, we can conclude that although waqf is not like zakat as the pillar of Islam, Islam aspires to the enormous potential of waqf to solve various economical problems in the sharia approach. In Islam's view, waqf has great potential, so that it needs attention to become an alternative solution for welfare.

The role of Islamic finance in mitigating the economic impact of COVID-19 towards the attainment of maqasid al shariah: A case study of waqf institutions in Kano State, Nigeria

The study examines the potential roles of Islamic Finance in the contemporary world in the provision of waqf based economic, social welfare and youth empowerment to surpass the economic impact of COVID-19 pandemic, reduce people’s suffering and protect the human lives which is one of the cardinal objectives of shariah. The paper will attempt to give a framework for waqf to youth empowerment in the entrepreneurship, and human capital development for the socio- economic development of Kano state. This study examines the effect of accessibility to basic healthcare services and economic growth as parts of the objectives of Maqasid al-Shariah, which is protection of life and dignity. The paper adopted a qualitative approach to explore the role of waqf in the empowerment of the youth in order to survive the economic meltdown as a result of the COVID-19 pandemic. The structured interview questions were designed to explore the potentials of waqf in providing youth empowerment. The result of the study revealed that waqf is a kind of charitable Islamic empowerment which has the capability of providing empowerment to the youth and economic wellbeing to the Kano People through financing the small and medium enterprises. The study concluded that Waqf can be used to overcome economic challenges in this time of COVID-19 and post COVID-19 era towards the attainment of financial stability and realization of Maqasid Shariah.

AWARENESS, PERCEPTION, AND WILLINGNESS TO CONTRIBUTE TO MICRO WAQF BANKS AMONG MUSLIMS IN INDONESIA

The purpose of this study is to assess the level of awareness, perception, and willingness that Indonesian Muslims towards waqf and Micro Waqf Banks (MWB). By distributing questionnaires to 104 Muslims, the results show that many Muslims still have a relatively low level of awareness about waqf and MWB. This may be due to the lack of socialization, especially regarding cash waqf and the establishment of MWB. Further findings indicate that the majority of Muslims in Indonesia agree on the establishment of MWB and also agree that MWB can be a solution to suppress the loan shark business so as to improve the welfare of the community, especially the lower middle class. Finally, Indonesian Muslims are willing to contribute to MWB especially if they know how to donate and how MWB operates. A higher level of willingness to contribute to MWB provides a great opportunity for MWB to develop its operations in the future. This research contributes to assisting MWB and Indonesian Waqf Board in developing appropriate socialization strategies to build and develop the potential of waqf in Indonesia.

Perkembangan Wakaf Asuransi Syariah di Indonesia Pasca Terbitnya Fatwa DSN-MUI No. l06 Tahun 2016

This research aims to explain how the development and potential of Waqf of Islamic insurance in Indonesia after published the fatwa by DSN-MUI in 2016 concerning the Waqf of insurance benefits and investment benefits in Islamic life insurance. This study uses a qualitative approach and use documentation methods as a data collection technique. All data will be analyzed by describing and making a general sense of the all data about the development of Waqf of Islamic insurance. The results of this research show that Waqf of Islamic insurance developed positively and has potential in the next future with a provision of conceptual and concrete constraints that can impede the development of Waqf of Islamic insurance can be responded to by the management of Waqf and public in general.

Pola Manajemen Fudraising Wakaf Uang (Studi Kasus Pada Yatim Mandiri Cabang Kudus)

This study is concerned with zakat management organizations, infaq, alms and waqf, where there are fundraising activities, especially waqf. Fundraising is an activity in order to raise funds and other resources from the community, both individuals, organizations and legal entities. Fundraising requires good management. Management functions ranging from planning, organizing, actuating and controlling are implemented so that waqf fundraising runs well. With the existence of the Yatim Mandiri Kudus branch which is active in fundraising, it is hoped that it can maximize the potential of waqf in Kudus so that it can help people in need in Kudus, especially the dhu'afa orphans. The problem in this research is how to manage waqf fundraising at the Yatim Mandiri Kudus branch. This type of research is a descriptive field research with a qualitative approach. The data collection techniques use literature review, observation and in-depth interviews with the manager of the Yatim Mandiri branch of Kudus as primary and secondary data. The results of this study are the management of waqf fundraising at the Yatim Institute. Mandiri Kudus, it can be concluded that, Yatim Mandiri Kudus Planning is doing well, by making a program arrangement to be delivered, and by applying two fundraising methods, namely direct and indirect Fundraising. Organizing and directing have been carried out well, determining the area for taking, recruiting and mentoring new fundraisers, led directly by the head of the Yatim Mandiri Kudus branch. And also well-managed supervision, starting from measuring the performance of fundraiser employees and ongoing achievements. Meanwhile, the Kudus branch of the LAZNAS Yatim Mandiri institution itself has programs related to waqf and other programs, such as zakat, shadaqah, donation to support the institution.

Model Manajemen Fundrising Wakaf di Surabaya (Studi di Yayasan Dana Sosial Al-Falah, Perbandingan Wakaf Selangor, BWI dan Wakaf Global)

This study is motivated by the low understanding of the community towards waqf and the large potential of waqf. The purpose of this study was to analyze the development of the fundraising strategy carried out by four waqf management institutions. Namely the Surabaya Al-Falah Social Fund Foundation, the Comparison of the Selangor Waqf (PWS), the Indonesian Waqf Board and the Global Waqf. The research method used is through a descriptive qualitative approach with library research data collection techniques. The results showed that the waqf strategy implemented by the four institutions had progressed from the model that YDSF did to raise funds with the Research Funding method which promotes the creation of business results through the development of waqf assets. PWS and BWI are using the same method, namely picking up the ball and waiting for the ball by working together through the Islamic Financial Institution. And the fundamental strategy that can help waqf institutions in the development of information technology is carried out by the Global Waqf Institution, which applies online waqf with an online waqf strategy through the website, transferring accounts and not setting targets. So that the management of waqf can be said to be effective with the existence of several strategies that are best for the success of the institution to achieve its goals.

Socio-Economic Impact of Selected Waqf Projects: Terengganu Culinary Academy & USIM's Specialist Medical Clinic

In Malaysia, the management of waqf has been placed under the supervision/purview of State Islamic Religious Councils (SIRC). They are the sole trustees of waqf as enshrined in the Malaysian Federal Constitution/respective State’s waqf enactments. In order to ensure the betterment of the socio-economic impact to the society by employing the awqaf mechanisms, the development of waqf either the physical or non-physical development must be under the management and purview of SIRCs. Federal agencies such as Department of Awqaf, Zakat and Hajj (JAWHAR) and Malaysian Awqaf Foundation (YWM) have helped in enhancing the potential of waqf in Malaysia. Involvement of other agencies also contributed to the success story of the waqf developments in Malaysia. Thus, this paper will focus on: firstly, the basic concepts of waqf and its legislation in Malaysia and secondly the preliminary study on the socio-economic impact of selected waqf projects. The selected waqf projects are the Terengganu Culinary Academy and USIM’s Specialist Medical Clinic (USMC). The former had been developed as joint ventures between SIRC and YWM and other agencies in the areas of education/training. We will look at the mechanism of its establishment and the socio-economic impact of the development that brings fruitful benefits thereby empowering the mawquf ‘alaih (the intended beneficiaries). The USMC is a joint cooperation between USIM and the SRIC NS which committed RM 2 million (RM 1 million as waqf grant and RM 1 million as Qardhul Hasan towards establishment of the clinic. The State Government provided funds to establish a specialist mobile clinic which facilitates medical specialists from USMC to do medical screenings of patients in rural areas.

CHALLENGES AND POTENTIALS OF WAQF IN CONTEMPORARY INDONESIA

<p>Waqf, as an instrument of the Islamic Economy, has been developed in a quite long period. Since the Prophet Muhammad PBUH era up to present. Indonesian people have also recognized waqf much long before Indonesian independence in 1945. Yet, the institutionalization of waqf into national law is less than five decades in Indonesia. As the most predominantly Muslim country in the world, most of the people recognize waqf only as a land donated in the name of Allah for building masjids, schools (madrasah) or cemeteries. Whereas, at The Law No. 41/ 2004 on Waqf, waqf is not limited to immovable goods but also movable assets. And, the utilization of waqf is not limited to build masjids and madrasah, but also for other purposes that related to public welfare. This article discusses the challenges and potentials of waqf in contemporary Indonesia</p>

PLANNED BEHAVIOR THEORY IN PAYING CASH WAQF

The potential of Waqf in Indonesia which is in the movement of followers of the largest Muslim religion in the World that is equal to 85% since the days of Pre-Independence. The legal order in Indonesia that underlies the management of waqf is very complete than Zakat, Infaq or Alms. This completeness is manifested in Law No. 41/2004 concerning Endowments and Government Regulation No. 42/2006 concerning Implementation of Law No. 41/2004. Both legality in the form of regulations and the Law provide a more certain legal basis for increasing public trust and guarantee of waqf assets. It became the starting point for the management of waqf and the collection of waqf funds in Indonesia. This study uses a quantitative method design in identifying what factors influence people's intentions in carrying out cash waqf. Data collection is done through filling out the questionnaire then be processed the validity and reliability test of 50 people and then given to a sample of 200 people. Factors affecting the intention to fulfill cash waqf based on this research are Attitude, Subjective Norms and Behavioral Control. Third, the Attitude, Subjective Norm, and Behavioral Control variables together have a significant influence on the variables of waqf intentions on cash waqf. Attitude variable towards cash Intention variable is 4.62%, Subjective Norm variable is 2.88%, Behavioural Control variable is 8.5%. Therefore, it can be concluded that the most dominant effective contribution value influencing cash intention variable is the Behavioral Control variable that is 8.5%.

THE SWOT ANALYSIS OF WAQF GOVERNANCE IN BRUNEI DARUSSALAM

Waqf has been practiced by the Muslim community in Brunei Darussalam since the beginning of their arrival in the country and their acceptance of Islam long years ago. In Brunei Darussalam, all matters relating to waqf are governed and administered by the Islamic Religious Council of Brunei Darussalam (MUIB) based on the provisions of the law contained in the Laws of Brunei Darussalam namely the Islamic Religious Council of Brunei Darussalam (MUIB) and the Court of the Kadi Division 77. The Act has provided that MUIB is the sole trustee of all types of waqf in Brunei. The purpose of this paper is to review the scenario of waqf governance adapted in Brunei Darussalam. The qualitative research design was adopted to provide analysis of the current practices of waqf governance. The data collected were secondary and primary data. Primary data was obtained through semi-structured interviews with waqf officers in MUIB, while secondary data were gained through published regulation and reports, journal papers, and articles. The study uses SWOT analysis in order to gain insights into the strengths, weaknesses, opportunities, and threats faced by the government of Brunei Darussalam in administering waqf. In the SWOT analysis, the strengths are the advantages of the religious proposition in the country where Muslims are the majority, the successful governance practiced by MUIB and Badan Tanmiah which enable them to generate a high income and give full benefits to all the Muslims from waqf property’s income and the direct financial assistance from the government. With regard to its weakness, there are still unleashed potentials of waqf being explored, problems in human resource and management and also slow growth of waqf development compared to other neighboring countries. The opportunities are the great potential of cash waqf and land. On the other hand, the threats comprise a lack of awareness and understanding of waqf among Muslim donators and resource limitations. Meanwhile, limited fatwa or rules gazette by the mufti in the issue of istibdal and controversy of cash waqf is considered as the other threats. These findings may help the academicians and practitioners to understand the governance issues related to waqf and further recommendations that need to be taken by the relevant parties.

Measurement of Cigarette Consumption of Indonesian People as Approach to Measurement of Cash Waqf Potential

Background: Many figures have stressed that Waqf has enormous economic potential, and in terms of Islamic law and history, is highly recommended because there are many benefits. However, the existing approach for measuring the cash waqf potential so far is only with the assumption of encouraging people to be in cash waqf but with a tendency to not care (let) that the people continue to make bad consumption for their lives.Purpose: To provide an alternative approach to measuring the potential that is clearly measured, by paying attention to economic behavior guidelines in an Islamic perspective while being able to reveal some of the fundamental problems of the people, especially Muslims in Indonesia. In addition, also to be able to propose the development of the Islamic consumption model as a useful contribution to the development of the Islamic economic concept more broadly.Methods: This is a literature study and uses secondary data, using inductive thinking patterns with development goals. Research activities are carried out by digging deeper from knowledge about measuring the potential for prior cash waqf and searching for related data and then developing it.Results: This study has obtained the measurement of cigarette consumption as tabdzir/israf behavior as an alternative approach to measuring the potential of waqf that is clearly measured and meets good measurement needs. An Islamic consumption model that at the same time can provide awareness of the problems of the Ummah has also been developed.

POTENSI WAKAF DAN PENGELOLAAN DI BENGKULU

Waqf management as demanded by law still has to be questioned, Bengkulu is one of the regions that has extensive waqf, but its management is not in accordance with the law. The potential of waqf in Bengkulu is very large, which is 375,743.1 M2 spread over 290 locations in 9 District in Bengkulu City. From a number of waqf generally used for mosques, prayer rooms, boarding schools, madrasas and tombs. The management pattern is still traditional and unproductive, this is because of the understanding of endowments dominated by classical fiqh, while understanding the law is still lacking. The ability of the waqf nadzir is also the cause of traditional management patterns.

DEVELOPMENT OF WAQF LAND PRODUCTIVITY FOR THE CONTRUCTION OF HOUSING TO LOW INCOME SOCIETY (MBR) FOR REALIZING GENERAL WELFARE

Endowments in Indonesia have abundant potential. However, the potential of waqf has not been able to contribute to solving the problem of poverty, because the management of waqf assets in Indonesia has not been widely used productively due to the still conservative pattern of public thought. Using the Juridical-Normative method, this study tries to provide a literary explanation of the views of the Fuqhas on how the legal status of the development of the productivity of waqf property? and how is the model that can be used to develop the productivity of the waqf property? According to Al-Kamal bin Al-Hammam, the authors of the books Fathul Qadir and Al-Mirginani, the authors of the book Al-Hidayah, said that they could build buildings that were already known that the building could be useful for the ummah, and many models could be used. delivery (BGS) or build operate transfer (BOT).

Institutionalising ‘Waqf ’ for Realising the Shared Development Objective by Islamic Banks and Financial Institutions

Islamic financial system has evolved since last four decades with the objective to do justice to all economic agents in an economy. But, the Islamic banks and financial institutions (IBFIs) have been working on the conventional paradigm by replicating the interest based products. Justifying the contracts on the basis of legal form, without ensuring the underlying real spirit of the transactions [economic substance], amounts to abusing the Sharīʿah principles (Dusuki and Abdullah, 2009, Hanif, 2016)). Waqf is a civil societal institution and a crucial part of the ‘virtuous sector’ of Islamic economy. It involves voluntary charity of perpetual tendency for benefit of mainly the poor. This editorial explores the areas that might be helpful in revitalisation of the institution of waqf by involving banks and other financial institutions for sustainable socio economic development of society and the economy. Based on the available literature, it suggests that establishing and running awqāf at macro and micro levels has to be a common feature of the Muslim society, while banks may facilitate in establishing and running such awqāf. This way, Islamic banks and financial institutions could make visible contribution through innovation and entrepreneurship. The editorial may help the IBFIs and the regulators, as also the researchers, to restructure the banking and non-banking financial institutions for benefiting from the potential of waqf for welfare of the poor and vulnerable sections of the societies at broader levels.

PENGEMBANGAN POTENSI WAKAF DI MASJID AT TAQWA BINUANG KAB TAPIN

Waqaf besides has spiritual values also has social economic values. Indonesia has the potential endowments are very boast. If the potential of waqf is well developed, then it will give good effect to the economy of the society and welfare. Endowments can be effective and have the maximum benefits if developed, one of which is through a change in the understanding of the concept of endowments consumptive become productive. The development of this potensial will make change in society’s views and goal in terms of the development of Muslims.