Waqf Management Research Articles

Cash Waqf development through private banks in Bangladesh: Challenges and prospects toward building sustainable society

This paper mainly focuses on the cash Waqf management and its development through private Banks in Bangladesh. Bangladesh has transformed its global status from least developed to a developing country which was the ramification of nonstop contribution of public-private initiatives. In Addition, it is a Muslim majority country and with huge potentials for cash Waqf scheme. Despite the fact, private Banks are facing a number challenges in accelerating this product among the customer as whole. The study, therefore, addresses key challenges of cash Waqf from socio-legal context and looks for avenues to revitalize and utilize cash Waqf for bringing sustainability in social services, for instance, education and culture, family rehabilitation, social utility, health care and sanitation services. In these key sectors, cash Waqf has enormous prospective in fulfilling the needs of the disadvantaged people of the country. The objective of this study is to identify the passage for sustainable social development through cash Waqf and to draw the attention of concern public and private authorities and policymakers to formulate an effective strategy for cash Waqf and remove the major barriers. The outcome of this research is that it is possible to create a substantial impact on the society by intensifying cash Waqf in Bangladesh. The paper adopts doctrinal research approach wherein both primary and secondary sources of data have been analyzed. It further consults with relevant books, articles, and statute of the country.

Conceptualization of Waqf Marketplace Innovation Model

As the largest and most generous Muslim country in the world, waqf has enormous potential in Indonesia. However, this potential has not been maximized for several reasons, such as minimum literacy, the lack of practitioners' skills, and the absence of collaboration from various parties to maximize the potential of waqf. These problems need to be addressed immediately so as not to hinder the development of waqf in Indonesia. Therefore, to address these issues, this study intends to conceptualize the marketplace of nazhir (waqf managers), waqif (donors), businesses, and charity institutions, which put the missing puzzle in place to create a waqf ecosystem. To achieve the purpose, this research employs a qualitative approach with a descriptive-analytical method. Data is collected through secondary data such as articles, books, conference proceedings, government reports, official website information, and other related waqf scopes. The model proposed in this study is expected to encourage waqf ecosystem development in this digital era. Furthermore, the conceptual model of this study may help the government and stakeholders in the waqf and economic sector to achieve prosperity.

Analisis Kompetensi Mahasiswa Menjadi Amil Zakat Profesional (Studi Pada Mahasiswa Prodi Manajemen Zakat dan Wakaf IAIN Bengkulu)

The purpose of this study was to determine the competencies possessed by students of the Zakat and Waqf Management Study Program to become candidates for professional zakat amil, while the types of data used were secondary data and primary data, using a qualitative approach. Based on the results of research and discussion, it can be concluded that the competencies that must be possessed by zakat and waqf management students are mastering the science of zakat fiqh, mastering managerial knowledge about zakat management, namely collection, distribution and utilization and reporting of zakat, amil must also have skills in the IT field and accountability in calculating zakat funds. on the reality in the field that students of zakat and waqf management study programs are already competent in the field of zakat fiqh science but are not yet competent in the field of fundrising practice and zakat information system technology.

Utilising Permaculture to Develop Abandoned Waqf Land in Resolving Food Insecurity in Indonesia

This paper aims to explore the potentials of permaculture in developing abandoned waqf land to resolve the challenges of food insecurity. This study uses data collected from primary sources such as Quran and Hadith, and secondary sources from books, articles, journals, web sites and e-books. Waqf lands, in general, are still managed by traditional methods and bound to limited purposes, such as mosques, graveyards, and madrasah. Based on collected data, many waqf lands are abandoned and unproductive. However, waqf lands have many great potentials if managed and utilised productively. Waqf managers and trustees should be able to enhance productivity of waqf lands for numerous purposes, such as business centres, markets, hotels, housing and agricultural projects. This paper explores the roles of permaculture in developing abandoned waqf lands in Indonesia and highlights the importance of agriculture from the Islamic perspective. Regenerative strategic solutions for food insecurity are designed by analysing significant potentials of waqf land redevelopment via permaculture. The expected outcome of this paper is to encourage the farmer and agriculture enthusiast to work with permaculture concept and researchers to explore the potential of permaculture or other regenerative method of agriculture to develop and revive the abandoned or idle waqf lands to overcome food insecurity.

Enhancement Strategy of Prospective Students’s Interest in Zakat and Waqf Management Program

Abstract, The program of Zakat and Waqf Management at the Faculty of Islamic Economics and Business IAIN Padangsidimpuan experienced a decline in the number of students from 2018 to 2020. As a study program with a field of science that is currently trending nationally and globally, there should be an increasing number of enthusiasts, but on the contrary actually decreased. Therefore, the purpose of this study was to analyze the strategy of increasing the interest of prospective students of the Zakat and Waqf Management Study Program. This study uses a descriptive qualitative approach where the number of informants is 333 people, namely senior high school students and students from Islamic boarding schools in Padangsidimpuan City, South Tapanuli Regency and other surrounding cities/regencies. The results of the study indicate that there is some academic and non-academic information that must be added to various existing promotional media. Promotional media that must be maintained are direct selling (official websites), social media (Facebook, Instagram and Youtube, advertisements (brochures), personal selling (promotion teams to schools).

MAINTENANCE OF WAQF PROPERTIES IN MALAYSIA: A SYSTEMATISED REVIEW

Background: Earlier studies have established a link between property maintenance and the lifespan of a property. The need for adequate maintenance is more important in the case of Waqf properties due to the uniqueness of Waqf properties concerning three of the core features – expected social benefits, ethical use and perpetuity. One drawback of previous reviews is that they were not usually Waqf-specific. We performed a systematised literature review of studies based on maintaining properties of Waqf.
 Method: The review targeted articles that discuss maintenance of Waqf properties or indicates any form of a management model for these properties. The articles reviewed were searched from SpringerLink, Google Scholar, Emerald, SAGE, ISRA publications, as well as other databases. The searches for the database, title and abstract screen, full-text analysis and data extraction were carried out.
 Result: Of the 919 papers listed, 12 met the requirements for inclusion. The findings indicate that while many previous studies focused on the administration and management of Waqf, Waqf institution, and the development and financing of Waqf only very few studies examined the maintenance of Waqf properties. 
 Discussion: Effective maintenance of Waqf properties is essential for the continued sustenance of the institution of Waqf and equitable distribution of income and provision of essential services to the larger society. However, the literature on the maintenance of Waqf properties is still quite scarce and therefore has been of a little practical guidance to managers of Waqf Properties.

Waqf and Its Legal Framework in Sri Lanka: A Preliminary Study

Waqf or religious endowment refers to an institution with the religious intention to do good acts for the benefit of the beneficiaries. However, the implementation and management of Waqf all around the world (Muslim and non-Muslim countries) have witnessed a deterioration since the fall of the Ottoman Empire. Many researchers and experts speak about the Waqf revival. In this relation, the Waqf institutions in Sri Lanka in particular, have gone through several reforms including the introduction of the ministry of Waqf. This paper examines the historical evolution as well as the status quo of Waqf governance in Sri Lanka. The study employs doctrinal analysis based on past literature as well as the laws governing Waqf. This study also explores the origin of the Waqf under Islamic law. It also discusses the application of the Waqf Act in Sri Lanka and identi es the current challenges and issues of the Waqf legal framework for the Muslim Mosques Charitable Trusts or Waqf Act (MMCTWA) in Sri Lanka. The findings reveal positive development in Waqf management, but overall awareness is necessary. The legal framework requires sustainable support and cooperation from the community, private sector, and the government.

POTENSI WAKAF UANG DIGITAL (FINANCIAL TECHNOLOGI SYARIAH) DALAM MEMBANGUN KESEJAHTERAAN EKONOMI MASYARAKAT

Cash waqf has played an important role as one of the new Islamic fiscal instruments in the economy. Cash waqf has two functions as a means of worship and the achievement of social welfare. Returns from cash waqf management can be used as an instrument in poverty alleviation programs through the social security system. The social security system using cash waqf will be able to help poverty alleviation programs carried out by the government through community empowerment programs. This study aims to determine the potential aspects of financial technology related to waqf in finding cash waqf in Indonesia. Cash waqf in Indonesia is very potential, if all aspects are maximized, including technological tools in socializing the urgency and benefits of waqf for economic, social and religious progress of the community. The method used in this paper uses a qualitative method with a literature approach that uses supporting data that is analyzed descriptively. The findings in this study explain the opportunities for digital cash waqf in the progress of the revaluation of industry 4.0 in Indonesia. The spirit of the Muslim community in conducting cash waqf must be managed with technological conveniences. The existence of digital cash waqf through Fintech can make it easier for waqf to do money waqf, so from this facility the potential for cash waqf can be collected and and can be managed for productive waqf activities in building community welfare.

STRATEGI PENGELOLAAN WAKAF PRODUKTIF DALAM RANGKA PEMBERDAYAAN UMAT DI KECAMATAN PANGKAJENE KABUPATEN PANGKEP

This study aims to determine the management strategy of productive waqf in the context of empowering people in Pangkajene District, Pangkep Regency. This study uses field research with a descriptive qualitative approach. The research location is centered in Pangkep Regency, Pangkajene District, South Sulawesi. The data used are primary data directly from those who manage productive waqf in Pangkep and secondary data from reference books, journals and so on. Data collection techniques ranging from interviews, observation and documentation. The management of productive waqf in Pangkajene District in its implementation is in accordance with Law Number 41 of 2004 concerning waqf but in the management of productive waqf it is still not optimal. In the management of productive waqf property as waqf by the wakif, so far the KUA of Pangkajene Sub-district has never interfered with all management affairs entirely left to the nadzir who has been appointed by the wakif himself. Productive waqf in Pangkajene District is classified as absolute waqf practice, Nazhir makes productive efforts so that waqf assets can be maximized in a way that is mostly achieved by renting out waqf assets.

ANALISIS PRAKTEK DAN MANAJEMEN WAKAF PRODUKTIF (STUDI KASUS: PONDOK PESANTREN KILAT AL HIKMAH)

Waqf is not something that has just been carried out and done by the community, but until now, waqf is still being focused on so that one of these philanthropic instruments can be a solution to improve people's welfare. This research explores how the practice and management of productive waqf in Al Hikmah waqf institution. The research method used is descriptive qualitative using interview and documentation instruments on the research object, namely Nadzir and the board of the Al Hikmah waqf institution. The results of this study concluded that the practice and management of productive waqf at the Al Hikmah waqf institution has been carried out well and developed where the initial waqf assets are in the form of land measuring 8,150 M2 which then grows to 30. 000 M2 with various supporting facilities and total assets of up to 29 billion rupiah which is now used as a lease for Islamic activities. Then in the SWOT analysis, the Al Hikmah Waqf Institution has a differentiation strategy as a service rental and a place that has Islamic nuances.

Strategy To Improve The Potential Waqf Asset Management in Indonesia : Efficiency Approach

waqf is the subject of discussion in the global issue. waqf is one of the instruments for economic recovery during a pandemic. The development of waqf is not accompanied good waqf management. The encountered problems are nadzir has insufficient knowledge an its causing inefficiency in managing waqf assets. Efficiency waqf institutions is measured by comparing targets and program planning and the data obtained are still descriptive.The urgency of this study is to analyze the efficiency of waqf management and how to develop its potential in the future. Thus, the qualitative method with Data Envelopment Analysis was used. The objects were five waqf institutions registered in the Indonesian Waqf Board and incorporated as a foundation in the 2014-2017 periods so that 20 financial reports were obtained. Input variables used were the operational costs and depreciation costs on assets under management, while the output variables were the revenue and the utilization of waqf funds. The contribution of this research is to provide solutions and steps that must be taken by nadzir waqf in Indonesia to improve the management of its waqf assets. The results are the consistently efficiency institutions reaching by Dompet Dhuafa Republika (2014-2017). The potential can get higher by reducing operational costs and depreciation assets. And then increasing the revenue and the utilization of waqf funds.

Can Blockchain Technology Improve Accountability and Transparency of Cash Waqf in Indonesia?

One of the problems that occur in the development of cash waqf in Indonesia is the managerial system and financial reporting. Currently, the safety of waqf data is not guaranteed and is not integrated yet between Islamic Financial Institution – Cash Waqf Recipient/LKS-PWU (Lembaga Keuangan Syari’ah – Penerima Wakaf Uang), Nazir, and BWI (Badan Wakaf Indonesia). The blockchain system comes with changing a centralized approach to being decentralized. The use of the blockchain system in managing waqf funds can be a solution to the problem of waqf that occurs. Therefore, this study aims to examine the implementation of blockchain technology in increasing the accountability and transparency of cash waqf in Indonesia. This study adopts an interview technique with seven practitioners and academics in collecting data and using thematic analysis in the analysis. The research finds that the level of accountability in the waqf management by the LKS-PWU of the Islamic bank is quite acceptable, as evidenced by the fulfillment of five accountability indicators by the LKS-PWU. However, it must be improved in several aspects such as data security, data integration, and real-time reporting. Strategies for increasing accountability include the blockchain implementation in the waqf management both in collecting and distributing waqf by LKS-PWU. The opportunity to apply blockchain to waqf management is very potential because the blockchain system has several advantages such as speed, transparency, and a higher level of security than the conventional system.

Analysis of The Strategy for Collection of Cash Waqf Funds at Baiturrahim Mosque, Lubuk Landai Village, Bungo Regency

This study aims to determine how the management of cash waqf at Baiturrahim Mosque, Lubuk Landai Village, Bungo Regency, from the aspect of management strategy and the constraints faced. This study used a qualitative approach with data collection through interview and observation techniques, then presented descriptively. This study found that the management of waqf funds at the Baiturrahim Mosque in Lubuk Landai Village is good from a management perspective, but so far the management orientation is still limited to materials for mosque construction, not yet reaching poverty alleviation, health, education, and other social agendas using this approach. productive waqf. This finding also shows that good waqf management in terms of management still needs to be increased in terms of productivity so that waqf can really overcome social problems faced by Muslims.

Unit Trust with Waqf Feature as Sustainable Investment Conceptual Model in The Era of Post-COVID-19

Harnessing a sustainable waqf model remains as the key challenge faced by waqf managers particularly in the mid of socio-economic crisis post-COVID-19 pandemic. This paper aims to present the viability of unit trust waqf as an alternative asset for waqf creation. This study employed a qualitative research design using document analysis of classical Islamic books, Islamic ruling (fatwa), journal articles, books, online and policy documents. The novelty of this paper lies in its attempt to highlight the importance of waqf investment strategy in ensuring sustainable returns for waqf particularly during this difficult time in reducing the socioeconomic impact of COVID-19 catastrophe, by introducing conceptual model of unit trust waqf as potential mechanisms to pool more cash waqf from individual investors. This paper submitted that waqf plays a significant role as a global financial cure for economic revival post COVID-19. The sustainability of the capital waqf assets in the form of unit trust is preserved through the distinctive fixed price feature of the unit trust waqf as proposed toward the end of the paper.

A Comparative Study of Blockchain Framework for Waqf Management System

This paper discusses the blockchain frameworks for evaluating trustworthiness in managing waqf management system. The frameworks are Ethereum, Hyperledger, Finterra Waqfchain and Waqf Blockchain (WB). The invention of the blockchain has offered many benefits to the waqf institution since this institution faced many challenges such as lack of data transparency, accountability issues, weak of historical records, improper audit and improper compliance practices that may breaks donors’ trust to use waqf system as a platform to make donation. However, the framework has their own pros and cons in order to make waqf management system more transparent, trusted and efficient. As a result, Ethereum framework shows the most suitable blockchain platform that can be used for the waqf management system.

Cash waqf linked sukuk as an instrument of national-scale community economic empowerment based on a functionalist sociology perspective

Indonesia is a country with a Muslim majority which makes the potential of Waqf (Islamic philanthropy) very large and needs to be developed for better management in empowering the community in the productive business sector. This study discusses waqf sukuk which is an innovation in collecting cash waqf by the Ministry of Finance and Indonesian Waqf Agency which is then used for broad economic empowerment which is in line with the potential amount of cash waqf in Indonesia. This study aims to find a sustainable productive business mechanism based on statistics on the development of business sector and uses qualitative analysis methods using a functionalist sociology perspective on waqf management agency and institutions in Indonesia. This study found that productive business that can be done is in the creative economy sector and the manufacturing industry with three stages, namely the beginning, transition, and the end with several considerations, namely capital, human resources, technological developments, and changing times. With this mechanism and assuming that the waqf management agency or institution can be sustainable and centrally coordinated and mutually supportive, national-scale economic empowerment can be achieved and sustainable productive efforts will create community economic independence based on cash waqf linked sukuk (CWLS).

Pengaruh Program Cash Wakaf Link Sukuk (CWLS) di Badan Wakaf Indonesia Terhadap Kesejahteraan Masyarakat

This study uses a descriptive qualitative method. Data collection comes from interviews with parties who are tied to the management of Cash Waqf Linked Sukuk (CWLS), especially the SW001 series at the Indonesian Waqf Board (BWI) as well as collecting data and reviewing various written sources related to CWLS practices at BWI). The results of this study indicate that: First, the practice of managing the CWLS SW001 program which involves stakeholders, one of which is the Indonesian Waqf Board as the sole nazhir wherein the nazhir invests the cash waqf using a mudharabah contract to issue SBSN by the ministry of finance in a private placement so as to channel the use of investment returns in the form of discounts. and compensation for the construction of the Achmad Wardi Eye Hospital in Banten. The results are collected and placed in CWLS for the purpose of developing new waqf assets (renovation and purchase of medical equipment, community services such as free cataract surgery and procurement of ambulances. Second, the influence of CWLS SW001 on community welfare is the achievement of CLWS in the form of health services (retinal devices and glaucoma). ) at the Achmad Wardi Eye Hospital is very helpful for the people around Banten. Given the very high cost of health operations and the returns obtained through CWLS as a form of financial recovery during the COVID-19 pandemic, CWLS has a significant effect on the welfare of the community.

Cash Waqf Linked Sukuk (CWLS) di tengah Pandemi Covid-19 dan Implementasinya Terhadap Ketahanan Ekonomi

This study aims to determine how the Cash Waqf Linked Sukuk or CWLS program is in the midst of the Covid-19 pandemic and its implications for economic resilience. The system pioneered and implemented by the Indonesian Waqf Board or BWI is an interesting matter to study. In addition, based on the analysis of the CWLS research VOSViewer software, not many have researched it. Researchers use policy making theory which is used as a research point of view. This research is a descriptive qualitative research. The results of this study indicate that the CWLS waqf system is a form of social investment in Indonesia. The Indonesian Waqf Board acts as an accelerator. The subject of this system is the cash waqf itself collected by BWI as the manager of Indonesian waqf or Nazhir through BNI Syariah and Bank Muamalat Indonesia as Islamic Financial Institutions Receiving Cash Waqf or LKSPWU. Then the cash waqf will later be managed and placed in the State Sukuk Instrument or State Sharia Securities (SBSN) issued by the Ministry of Finance (Kemenkeu). CWLS itself also implements economic resilience. It can be seen on the BWI website on Cash Waqf Linked Sukuk (CWLS) that the government will use the results of the issuance of this State Sukuk to finance the state budget, including to finance the development of public service projects such as the development of educational infrastructure and religious services

Corporate waqf: Discovering the primary challenges

This study aims to explore and understand the key challenges of corporate waqf management and its implementation, particularly in Malaysia. This study adopted a qualitative approach. Specifically, data obtained from three interviews that involved an academician, a Shariah scholar and a business practitioner have been examined thoroughly. Generally, this study discovers three primary challenges pertaining to corporate waqf and its possible implementation. Legal constraint based on current regulatory settings of waqf management, narrow mindset of key stakeholders and lack of awareness and understanding amongst the general public are the core reasons that impede the successful acceptance and implementation of corporate waqf. This study is expected to contribute to the improvement of the waqf management. It provides an initial understanding about the primary issues that would be confronted when implementing corporate waqf. Thus, it puts forward several insights about the future strategies for positioning corporate waqf into practice.

Analisis Pengelolaan Wakaf Uang Melalui Cash Waqf Linked Sukuk Dalam Meningkatkan Pemberdayaan Masyarakat

This research aims to identify and analyze cash waqf management system and management of CWLS program in improving community empowerment at Indonesian Waqf Board (BWI). This research uses descriptive qualitative method with case study approach, starting with interviewing BWI and Achmad Wardi Eye Hospital. Then to prove validity of research data, researcher used technique triangulation method. Furthermore, researcher analyzed data by doing data reduction, data presentation, and concluding. The results of research show that management of cash waqf carried out by BWI is quite diverse so that scopes becomes wide. Management of CWLS has been running according to set plan, but not all CWLS programs are run by BWI, there are several programs whose benefits are distributed to nazhir institutions registered by BWI. Keywords: Cash Waqf, CWLS, Community Empowerment, Management