Cahyudi Prima
Sekolah Tinggi Agama Islam Minhajul Haq

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Analysis of the Role of Productive Waqf as a Fiscal Policy Instrument in Islamic Economic Asep Hasan Sulaeman; Rohman Pranoto; Cahyudi Prima; Tatang Hidayat; Miftah Wangsadanureja
Dirham : Journal of Islamic Economics Vol. 1 No. 1 (2026): Dirham : Journal of Islamic Economics
Publisher : Sekolah Tinggi Agama Islam Minhajul Haq

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.66891/dg5hfc02

Abstract

 This study looks at how productive waqf can be a key tool in fiscal policy under an Islamic economic system, highlighting its ability to help a country achieve financial independence. The study uses a qualitative library research approach to gather and combine information from historical Islamic texts, scientific articles, and official documents about public finance. The results show that productive waqf is an important and lasting source of income for the government, helping it fund public services like education and infrastructure without having to take on debt that involves interest or pay too much in taxes. Historical models from the time of Caliph Umar bin Khattab, handled through the Baitul Maal, show a good example of a balanced budget and fair sharing of wealth. In today's situation, even though Indonesia's yearly cash waqf potential could be as high as Rp 15 trillion to Rp 180 trillion, there is still a big gap in literacy, which is a major problem. Modern innovations such as Cash Waqf-Linked Sukuk, digital platforms, and partnerships with small businesses—like those used by institutions like Al-Azhar—show how productive assets can have a big impact by creating a large multiplied effect. This study says that including waqf in the official financial system is important for reaching falah and the Sustainable Development Goals, but only if there is good management by nadzir, helpful laws, and the use of digital technology.  
FINANCIAL MANAGEMENT ANALYSIS OF MINHAJUL HAQ ISLAMIC BOARDING SCHOOL IN PURWAKARTA Rohman Pranoto; Isrun Abdurahman; Cahyudi Prima; Rizaldy Alpiansyah; Irfan Alkhotiri
Dirham : Journal of Islamic Economics Vol. 1 No. 1 (2026): Dirham : Journal of Islamic Economics
Publisher : Sekolah Tinggi Agama Islam Minhajul Haq

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.66891/6224km02

Abstract

The aim of this research is to analyze the extent of financial management that occurs at the Minhajul Haq Kiarapedes Purwakarta Islamic boarding school, what obstacles arise in this regard and what efforts must be made in order to achieve ideal financial management. In this research, the method used is descriptive research and is a case study which is studied quantitatively. In this case, the financial condition of the Minhajul Haq Islamic boarding school is explained, while quantitatively the strength of effectiveness and efficiency of financial management of the Minhajul Haq Islamic Boarding School is calculated. The unit of analysis in this research is the financial management of the Minhajul Haq Islamic boarding school from 2020 to 2022. The results of this research show that the calculation of the formulation of the level of effectiveness of Islamic boarding school financial management from 2020 to 2022 fluctuates with an average effectiveness level of 92.09%. . This shows that the financial management of the Minhajul Haq Islamic Boarding School is at an effective management level. Meanwhile, the results of the analysis of financial management efficiency show that the calculation of the overall efficiency level formulation is an average of 107.14%. This shows that the level of efficiency is still low because the results are more than 100%. Thus, the Minhajul Haq Islamic Boarding School is still wasteful in using its budget. Apart from that, it also explains the principles of financial management such as transparency, accountability as well as obstacles in supporting ideal financial management and efforts to achieve them.   Keywords: Financial Management, Effectiveness, Efficiency