Waqf Fund Research Articles

Peningkatan Kompetensi Amil Organisasi Pengelola Zakat (OPZ) melalui Pelatihan Akuntansi Syariah

This Community Service (PkM) aims to increase Amil's competency in preparing Financial Reports by PSAK 109 and PSAK 112. The method used in this service is training for Amil from the Zakat Management Organization (ZMO), totaling 17 people. This training began with a pre-test to measure Amil's initial understanding of recording transactions and preparing financial reports, continued with the presentation of material, questions, and answers, and practice analyzing cases related to zakat, Infaq, Shadaqah, waqf funds, and ended with a post-test. The results of this service show that the training participants understand the differences in the concepts of zakat, infaq, shadaqah, and waqf, as well as the types of OPZ financial reports and the function of each financial report.

Legislasi Agama Dan Potensi Ekonomi: Analisis Undang-Undang Nomor 41 Tahun 2004 Tentang Wakaf Di Indonesia

Law Number 41 of 2004 concerning Waqf describes legislation rooted in religious principles. The consistency of this law with the principles of Scripture provides evidence of the government's seriousness in understanding the potential of waqf funds and the need for effective management. By regulating ontological, epistemological, and axiological aspects, this law is expected to improve economic welfare and strengthen the role of Muslims in the economic sphere. The importance of this law is undeniable, especially in providing legal certainty and the legal framework necessary for the management of waqf funds that have great potential, meeting the needs of the Wakif and the Nadzir.

Analisis Pengelolaan Wakaf Uang pada Koperasi Simpan Pinjam Pembiayaan Syariah (KSPPS) Gumarang Akbar Syariah Mataram

The Gumarang Akbar Syariah Mataram Savings and Loans Cooperative (KSPPS) is an institution that manages zakat and waqf funds for the welfare of the people. This study aims to determine the process of cash waqf management and to determine the effectiveness of cash waqf management at KSPPS Gumarang Akbar Syariah Mataram. The type of research used is qualitative with a descriptive approach and the data collection techniques used are observation, interviews and documentation. The results of this study indicate that the waqf implemented by KSPPS Gumarang Akbar Syariah Mataram is in the form of cash waqf. In collecting waqf funds, the proceeds from collecting waqf money are used for empowerment/economic welfare of the people and for social-religious activities. And the management of cash waqf carried out by KSPPS Gumarang Akbar Syariah Mataram has not been implemented effectively because the funds managed are still very minimal. And if seen from the regulations BWI Regulation Number 1 of 2009 concerning guidelines for the management and development of movable waqf assets in the form of money, they are still carried out in a simple manner or have not been implemented in accordance with these guidelines.

PIAWAIAN PERAKAUNAN KHUSUS UNTUK INSTITUSI WAKAF:IMPLIKASI DARIPADA KETIADAAN SPESIFIK PERAKAUNAN WAKAF UNTUK MENJADI AMALAN DI MALAYSIA

The purpose of accounting standards is to regulate the accounting and reporting processes for entities. Therefore, the absence of specific accounting standards to govern entity accounting can potentially create problems and issues. This research aims to understand how the absence of certain accounting standards affects entity accounting practices. Among the implications of the absence of specific accounting standards are uncertainties in waqf fund management, uncertainty in performance evaluation, inability to meet legal requirements, inability to attract investors, loss of public confidence, and the need for stricter monitoring and supervision. This study employs a qualitative research methodology with a document analysis design. The findings show how waqf bodies attempt to comply with relevant existing accounting standards, but without a specific focus on waqf institutions, highlighting the importance of having specific accounting standards. The discussion highlights the impact of the absence of specific accounting practices for waqf institutions and the need for specific accounting standards.

SWOT ANALYSIS IN PRODUCTIVE MANAGEMENT OF CASH WAQF FUNDING AT MICRO WAQF BANK OF ALMUNA BERKAH MANDIRI KRAPYAK YOGYAKARTA

The role of institutions in managing cash waqf provided security guarantees and wider investment of funds. Here, the question arises of how to manage cash waqf funding at Bank Wakaf Mikro (BWM) using the SWOT approach. This research aimed to determine the strength factors, weakness factors, opportunity factors, and threat factors in the implementation of cash waqf fund management by BWM Almuna Berkah Mandiri Krapyak. This research was a type of field research using qualitative descriptive methods. Data collection techniques were observation, interviews, and documentation. Meanwhile, the data analysis technique was obtained from various sources through triangulation and carried out continuously until saturation. The results of this research could conclude that the strength factors in managing cash waqf funding at BWM Almuna Berkah Mandiri were good human resources and infrastructure. Meanwhile, the weak factor was that social media management was not running well, so promoting customer products was less than optimal. The opportunity factor was the ease of technology, where customers would find it easy to get information from the Micro Waqf Bank. Finally, the threat factor in managing cash waqf funding was the existence of customers who were in trouble, where customers needed to make installment payments at the agreed time.

Peran Produktif Wakaf pada Bank Wakaf Mikro di Masyarakat Kota Jambi

This research aims to examine the significant role of productive waqf fund benefits distributed by micro waqf banks to SMEs, with the goal of improving well-being, and to assess the impact of productive waqf funds in micro waqf banks in developing the businesses of SMEs. Using a qualitative approach and descriptive research methods, the researcher collected data from various sources, including in-depth interviews with relevant parties such as the Micro Waqf Bank Management and recipients of productive waqf funds in the hope of explaining the facts and conditions needed for the research. The informants in this study consisted of 20 individuals who met the criteria of understanding and being able to argue when the researcher explored and delved into questions and statements, as well as individuals who received and used productive waqf funds, thus experiencing the impact and benefits of these funds for the sustainability of their businesses and the improvement of their quality of life. The research results indicate that the role of Micro Waqf Banks for SMEs and the impact of productive waqf fund assistance are significant. These banks play a crucial role in supporting the growth and development of SMEs. Micro Waqf Banks provide access to capital for SMEs who often face difficulties in obtaining loans from other financial institutions, thus helping them expand their businesses, create job opportunities, and enhance economic well-being. The bank's role also includes community economic empowerment through training and mentoring. The impact of productive waqf fund assistance on the development of SMEs' businesses is also highly significant. This assistance helps SMEs in business development, improving competitiveness, and overcoming capital constraints. In addition to the economic impact, productive waqf fund assistance also builds self-confidence, motivation, and the overall quality of life for SMEs.

Zakat and Waqf Managament in Indonesia and Pakistan: A Comparative Study

Zakat and waqf should be managed well so that they benefit society. This comparative study aims to analyse and compare the management practices of zakat and waqf in Indonesia and Pakistan. This study employs descriptive-comparative approach by analysing relevant literature, policies, and institutional frameworks in the management of zakat and waqf between Indonesia and Pakistan. Findings of this this study reveal that both countries focus on strengthening transparency and accountability in the collection, distribution, and utilization of zakat and waqf funds. Nevertheless, there is a need for increased collaboration and coordination between government institutions, non-governmental organizations, and other stakeholders involved in zakat and waqf management in Indonesia and Pakistan. This study is significant because it has the potential to inform policies and strategies that can maximise the positive impact of zakat and waqf funds, resulting in more inclusive and equitable societies in both countries.

Waqf Fundraising Strategies: A Comparison between Indonesia and Malaysia

The article aims to understand and analyze the various strategies that have been implemented in raising waqf funds in Indonesia and Malaysia. The data sources used come from Scopus indexed journals, ensuring the accuracy and credibility of the information. The results of the research show that there are ten main strategies that have been implemented in the context of waqf in Indonesia and Malaysia, namely digitalization and information technology strategies, government policy strategies, local cultural system strategies, management strategies, marketing and waqf objects, new strategies offered, strategies to strengthen legal legality, strategies for understanding the behavior of waqf donors, waqf education and socialization strategies, waqf institutional strategies and word of mouth strategies. Thus, this article provides a comprehensive view of waqf fund collection strategies in Indonesia and Malaysia, which can be a basis for further development in the context of Islamic finance and waqf fund management.

A case study of Waqf Institutions: reasons for not implementing crowdfunding

The crowdfunding industry in Malaysia has experienced rapid growth, with a variety of platform options available in the market. The increasing popularity of crowdfunding in Malaysia can be attributed to the support of information systems, particularly the internet and technology. The realm of financial technology innovations serves to enhance multiple facets of waqf fund management, particularly in addressing the challenges encountered by existing waqf models. As a result, waqf institutions can meet their liquidity needs for developing waqf properties without heavy reliance on government fund allocations by using the crowdfunding. Crowdfunding serves as a promising mechanism to achieve these objectives. Hence, the purpose of this study is to investigate why the waqf institution does not use crowdfunding to collect waqf funds. This study took a qualitative approach, analysing three chosen SIRCs in Malaysia's Northern Region. The data is subsequently subjected to thematic analysis. According to the survey, both WI1 and WI2 do not adopt crowdfunding owing to a lack of expertise and seek to increase the use of cashless waqf; however, WI3 already uses crowdfunding as a way of collecting waqf funds. The findings from this study will provide researchers with new information.

Optimization of Waqf Productive in Halal Tourism in Indonesia

The potential for halal tourism in Indonesia is considered to continue to grow, supported by the increasing needs of the Muslim community, both men and women, who can now be considered as one unit. This also indicates an increase in recognition and acceptance of Islamic socio-cultural practices, both in Indonesia and globally, which shows that Muslims are starting to receive attention in developed countries. Of course, this development aims to produce a multiplier effect, one of which is strengthening the economy. Optimizing waqf funds for halal tourism can be a solution to stimulate the Indonesian economy. This research aims to determine the extent to which waqf funds can develop in Indonesia. The method used in this research is a qualitative method by carrying out FGDs with experts in the field of waqf initiated by Wacid. The research results show that the potential for waqf funds in Indonesia can still be developed, but this is only limited by the knowledge of the Indonesian population about waqf itself, so in-depth socialization is needed to support literacy about waqf in Indonesia.

Analisis Laporan Keuangan Serta Tata Cara Pengelolaannya Pada Yayasan Galang Bersama Kami Sebagai Lembaga Filantropi Islam

The main objective of this research is to analyze the financial reports managed by the Galang Bersama Kami Foundation (YGBK) as a non-profit institution that focuses on raising funds from donors in the form of Zakat, Infaq, Alms and Waqf (ZISWAF) funds. Which is about where the Foundation's funds come from, and how the Foundation provides the allocation flow. For this purpose, the author used quantitative descriptive research methods, with direct observation techniques to related parties, followed by interviews and special documentation during data collection. After conducting interviews, the author found that the entire set of YGBK funds came from 3 things, namely from ZISWAF funds, CSR funds from agencies/companies, and potential businesses from our Joint Business Institutions. The funds raised will be channeled to the Foundation's program and operational funds, the distribution percentage of which is based on BAZNAS regulation Number 1 article 8 of 2016 specifically for ZISWAF funds. The percentage of CSR distribution depends on the Foundation's agreement with the CSR provider company. Meanwhile, the proceeds from our Joint Business will be distributed in full to the Foundation's operational costs. The percentage of the Foundation's financial reports shows a decrease in income from 2022 to 2023 of 49%. All of this is done to provide transparent and open financial management for the people in order to maintain their sense of trust in the Galang Bersama Kami Foundation.

The Role of Money Waqf towards Empowering MSMEs in Reducing Production Costs

Waqf is one of the instruments that can help economic development in Indonesia. Thus, waqf plays a role in empowering the people's economy through business capital assistance programs for MSME players. Micro, small, and medium enterprises play an important role in developing the economic growth of society. This is because the MSME sector has the potential to contribute the largest GDP, requires a large workforce, and is relatively resistant to economic crises. According to the Ministry of Cooperatives and Small and Medium Enterprises, Indonesia has 64.2 million MSME units. With details of 63.4 million micro-businesses, 783.1 thousand small businesses, and 60.7 thousand medium-sized businesses. However, of the total number of MSMEs in Indonesia, 70.2% of MSME units experience problems in capital or raw material supply. However, Islamic economics is here to solve economic problems through waqf instruments. Waqf has eternal benefits that are universal. Thus, one of the benefits of waqf is that it can be used as business capital for MSMEs. According to BWI, Indonesia has a cash waqf potential of around IDR 180 trillion per year. To realize the potential of waqf, an optimal and professional management system is needed. This study aims to examine the potential of cash waqf in encouraging the community's economy through micro businesses in determining production costs. This research uses a qualitative method using a literature study research design with content analysis. The results of this study conclude that the optimal management and distribution of waqf funds can help micro businesses in reducing production costs.

Assessing the Efficiency of Waqf Institutions in Indonesia: A Non-Parametric Approach

Maintaining waqf performance is important to ensure that waqf assets are well managed. The effectiveness and efficiency of waqf asset management is crucial so that progress can be measured. This study aims to evaluate the efficiency of waqf institutions in Indonesia during the 2015-2021 period using the non-parametric Data Envelopment Analysis (DEA) approach. The research object includes six waqf institutions in Indonesia, with data obtained from the annual reports of each institution. The results show that during the observation period, no waqf institution has managed to achieve the optimum efficiency score. In addition, the efficiency trend of waqf institutions shows a downward trend, especially during the Covid-19 pandemic. Through potential improvement analysis, this study succeeded in identifying the main factors causing the inefficiency of waqf institutions. In particular, output variables such as waqf fund receipts and disbursements become the main focal points for efficiency improvement.

Empowering Healthcare through Waqf: Initiatives by the State Islamic Religious Council

Health is a key element in a nation’s development and Malaysia’s public healthcare system is facing significant challenges, particularly rising costs. This study focuses on how the State Islamic Religious Council in Malaysia is using waqf (Islamic endowment) funds to support healthcare services. Transforming the waqf institution is necessary to ensure it stays relevant in today’s context. By reducing the reliance on government funding, waqf plays a crucial role in alleviating the financial burden on citizens, especially for those who cannot afford increasing healthcare costs, a problem worsened by the COVID-19 pandemic. Data was collected from a range of sources, including State Islamic Religious Council websites and related references on waqf and healthcare. The findings reveal that healthcare waqf significantly contributes to the nation, with initiatives such as dialysis centers, medical equipment, medications, waqf clinics, and support for COVID-19 treatment. These efforts highlight the potential for waqf to enhance Malaysia’s healthcare system. However, there remains significant potential for further enhancing public healthcare financing by improving the strategic use and management of waqf funds. By optimizing the allocation and utilization of these resources, the healthcare system can be strengthened, ensuring its long-term sustainability and reducing financial pressures on both the government and the public.

Wakaf di Era Modern: Wakaf Saham di Pasar Modal Syariah (Studi pada MNC Sekuritas

: The development of science and technology has encouraged the emergence of new concepts and thoughts to introduce philanthropy in the form of zakat infaq and waqf through the Islamic Commercial System, especially in the Sharia capital market. The implementation of sharia share waqf has started in 2019 and involves IDX Islamic, Securities Companies and Philanthropic Institutions. On this basis, it is necessary to analyze the performance achievements of waqf assets from sharia shares that investors have distributed to waqf institutions. This research uses qualitative methods with data analysis through triangulation. The total assets of share waqf distributed by wakifs (Sharia investors) reached IDR 276,524,244 during 2021 and until December 2022, the value of share waqf reached IDR 285,900,654 with an increase of 3.39% or IDR 9,376,000. MNC Sekuritas has contributed 35% to the achievement of share waqf assets in the Indonesian sharia capital market and 90% of the number of wakifs recorded on IDX Islamic comes from MNC Sekuritas customers, namely 200 sharia investor customers. Sharia share waqf means waqf in the modern era where waqf funds come from the investment value of sharia shares owned by investors and are managed by nadzir through the capital market. The implication of this research is that it is hoped that the performance of waqf assets can be accompanied by an increase in the professionalism of nadzir in managing share waqf assets, which of course is related to nadzir's expertise in managing sharia stock portfolios (waqf assets) in the sharia capital market

Impak Amalan Wakaf Terhadap Pemerintahan Kerajaan ‘Uthmaniyyah di Bosnia & Herzegovina pada abad ke 15M hingga 17M Waqf Impact towards Ottoman Reigns in Bosnia and Herzegovina during 15th to 17th Century

The Ottoman rule in the Balkan Peninsula began in the 14th century and lasted until the 19th century. However, there are also small provinces such as Serbia that demanded independence earlier while there are also other provinces that are still under the reign after the 19th century. Among the important elements in carrying out development in their territories is by implementing waqf practices in every aspect such as economy and socio-culture. Initially, these endowment institutions were mostly founded by the ruling class and those with high status in the local community. Through this establishment gave a great impact in the politics and government of the Ottoman government either from a positive or negative perspective. Therefore, this study aims to analyze the impact of waqf practices on the politics and rule of the ‘Ottomans in Bosnia & Herzegovina during the golden centuries of the kingdom, namely the 15th century to the 17th century. This study was conducted using qualitative methods in the form of historical research and collecting data using document analysis methods from various authoritative sources. The results of the study found that there were impacts on the practice of waqf in Bosnia & Herzegovina during that period. For example, it helped strengthen the power of the Ottoman even though not directly. This situation can be seen from the beginning of the practice of waqf through the involvement of Ottoman dignitaries who were from Bosnia, at the same time applying and integrating the Ottoman education system into the local community through waqf institutions that were built such as medrese. In addition, through the continuous development of waqf, it was able to stabilize the Ottoman rule in the region. This is because, the people see the government were able to prosper the economy for them while the Islamization process is becoming more and more vigorous due to the assistance from the cash waqf fund allocated for this activity. This led to an increase in the number of Muslims, making Islam the dominant religion in the region. In conclusion, the practice of waqf which is based on welfare and free services is not only considered to have an impact on community support but also can give a bad impression if it is not well managed by the government.

Peran Wakaf Dan Zakat Dalam Meningkatkan Ekonomi Masyarakat Indonesia

Poverty and unemployment are currently complex and serious issues in Indonesia, with one of the primary causes being the unequal distribution of wealth in society. Islam presents a significant potential solution to address these problems through the utilization of zakat and waqf, two concepts deeply rooted in the principles of social justice and economic empowerment. This research aims to analyze the roles of zakat and waqf in improving the economic well-being of Indonesian society, exploring the potential for collecting zakat and waqf funds, and proposing productive waqf management models. The findings of the study reveal the pivotal roles that zakat and waqf play in reducing economic inequality. Zakat can be used to provide direct assistance to those in need and empower the community through small business capital and skills training. On the other hand, waqf has the potential to create long-term investments in economic development by utilizing waqf assets for productive projects that generate employment and income. Additionally, the research highlights the importance of productive and creative management of zakat and waqf funds, including strategic investments in waqf assets. Increasing public awareness of zakat and waqf and fostering collaboration with governmental institutions and communities are identified as key factors in maximizing the potential of zakat and waqf. Educational initiatives and fundraising models, such as conducting fundraising activities at various locations, are also described as crucial steps in achieving economic empowerment and poverty reduction through zakat and waqf. With the right approach, zakat and waqf have the potential to become powerful instruments in alleviating poverty and unemployment in Indonesia, leading to a more prosperous and economically equitable society.

Accountability and Transparency of Wakf in the Management of Social Funds and Empowerment of the People

As an instrument of Islamic philanthropy with a rich history, Waqf has great potential in improving the management of social funds and empowering the community. This research examines the crucial role of accountability and transparency in managing social funds and empowering the people through waqf institutions. The analysis focuses on how implementing these principles can strengthen the effectiveness of waqf fund management to achieve humanitarian goals and community empowerment.The research methodology includes a literature review and case study. The research results show that the use of relevant accounting standards, transparency in financial reporting, and strong accountability in waqf management institutions positively influence the management of social funds. Hopefully, this conclusion will provide further insight into optimizing the management of social funds through the principles of accountability and transparency in the realm of waqf.The author's suggestion for further research is to adopt a quantitative approach through interviews or questionnaires focusing on specific nazir entities. The research results will likely provide significant practical contributions to the Nazir entity by exploring in-depth case studies.

Development Of Employment Of Zakat And Waqf For Remote Communities: The Case Of The Al-Qur'an Waqf Board

This paper discusses the development of utilization of zakat and waqf funds managed by the Al-Qur'an Waqf Agency (BWA) in order to help the community, especially on remote islands and remote areas during a pandemic. The purpose of this paper was to get an overview of the development of forms of utilization of zakat and waqf funds by BWA in helping the community. This paper belonged to the field of research on Islamic law and social institutions with a qualitative type of research. Data was collected through interviews and documentation, and analyzed using descriptive analysis. The results of the study stated that BWA developed forms of utilization of zakat and waqf in the health, religious and socio-economic sectors, by creating the Against Covid-19 Strengthen Indonesia program. The old programs were still a priority, such as several waqf programs and Peer to Peer Zakat. The conclusion of this paper was that the development carried out by BWA in utilizing zakat and waqf was carried out by analyzing the current pandemic situation. They remain focused on the old program while opening humanitarian services for people affected by Covid-19 on remote and inland islands.

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.