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Journal : Risalah Iqtisadiyah

Comparison of the Effectiveness of Productive Waqf Management in Indonesia and Singapore: A Comparative Study Mustofa, Imam; Hidayat, Irman; Royhan Alhak, Maftuh; Yuliana, Mia
Risalah Iqtishadiyah Vol 3 No 2 (2024): July - December 2024
Publisher : Risalah Iqtisadiyah: Journal of Sharia Economics, Sharia Economics Study Program, STEI Ar Risalah Sumatera Barat

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Abstract

Waqf, as an instrument of Islamic philanthropy, has great potential in developing a sharia-based economy. In the Indonesian context, waqf can be used as a source of Muslim funds that can assist in managing waqf assets. Even though Indonesia has the largest Muslim population in the world, waqf management in Indonesia is still low. Singapore, as a country with a Muslim minority, has demonstrated the ability to utilize waqf funds optimally and productively. This research compares the regulation and management of waqf in Indonesia and Singapore with the aim of improving waqf management in Indonesia. The results of this research show that waqf regulations in Indonesia are contained in Law Number 41 of 2004 and Government Regulation Number 42 of 2006, while in Singapore they are contained in the Administration of Muslim Law Act (AMLA) Number 27 of 1966. In the development of productive waqf in Singapore, the istibdal method is used to increase the value and productivity of waqf assets. The Management of waqf in Singapore entrusted to the Islamic Assembly of Singapore (MUIS) and WAREES Investment Pte Ltd (Waqaf Real Estate Singapore) to manage endowment funds in Singapore. Management in the development of productive waqf in Singapore uses the istibdal method which is applied in various forms. Therefore, the role of regulations in implementing waqf management must have an impact on the development of waqf in a country, so that waqf becomes one of the instruments of Islamic philanthropy that can be used as a source of funds for Muslims who are able to encourage the economic progress of a country and improve the welfare of society.
Co-Authors Abuzahra, Mutasem Adikara, Tatang Santanu Akintunde, Adeyinka Oye Al arif, Mohammad Anam Ali Agus Ali Saifudin Amrullah, Muhammad Fajar Andri Dwi Cahyono Ardiana, Lutfi Ardianto Ardianto Arif Zamhari Arimbi Ashari, Lukman Ayuti, Siti Rani Bambang Sektiari Lukiswanto Belgania, Ristaqul Husna Brahmantya, Chandra Budi Utomo Budiarto Budiarto Cahya P., Aghid Chamdan, Umar Dadang Sundawa, Dadang Dadik Rahardjo, Dadik Darsono, Roesno Dedi Irwansyah Dewi, Sapna Kurnia Diana Ambarwati Eka Pramyrtha Hestianah, Eka Pramyrtha Eko Siswanto Enizar Enizar, Enizar Erma Safitri Faiz Muhammad Azhari Fajarwati, Rini Fauzan . Febrianila, Rosiana Fedik Abdul Rantam Hana Eliyani Hani Plumeriastuti Hardaningtyas, Enggar Hardijanto, Hardijanto Hariadi, Masud Harijani, Nenny Hendri Irawan Hermin Ratnani Herry Agoes Hermadi Hidanah, Sri Hidayah, Aisyah Shaumanur Artha Hidayat, Irman Hidiyati, Evita Fitrianis Ikhsan, Dilla Amalia Bilqis Ilmi, Laily 'Ulya Nurul Imam R., Tjuk Ishaq, Rizal Maulana Ismudiono Ismudiono, Ismudiono Istianah, Anif Iwan Sahrial Hamid Jannah, Wiwit Mely Yanti Kadek Rachmawati Khairullah, Aswin Rafif Kholifah, Yayuk Komari, Ana Kusnoto Kusnoto, Kusnoto Listyorini, Linda Lokapirnasari, Widya Paramitha Mafruchati, Maslichah Maghfiroh, Nurutin Tutur Bifatikhatil M Mahardika, Rega Malik, Reza Firsansadaya Maliki, Ibnu Akbar Masruchin Maulana, Hafidz Meles, Dewa Ketut Mirni Lamid Moh. Mukri Mufasirin Muhammad Yunus Mujahid Mujahid, Mujahid Mukhtar Hadi Muntoha, Tohir Nasucha, Juli Amalia Netika, Melsa Nidom, Chairul Anwar Nisa, Hanifah Khairun Nugraha, Rama Putra Nusdianto Triakoso Paramita L., Widya Pasang, Gabriel Sampe Prastiya, Ragil Angga Pratama, Hanif Sabekti Pudji Srianto Purnawan, Ahmad Budi Putri, Cindy Ercha Aulia Putri, Natalie Lovena Pramono Raharjo, Dadik Rahmahani, Jola Rahmahima, Bella Amiria Rahmaniabdi, El Roy Achmad Rahmatullah, Aldin Akbar Rahmi Sugihartuti, Rahmi Ratna Damayanti Ratnaningtyas, Nurrohmah Rayhansah, Rina Rebut Rimayanti Rimayanti Risna Y, Dyah Ayu Roro Ristiani, Widya Aulia Riza Zainuddin Ahmad Rizqa Ahmadi, Rizqa Rochmah Kurnijasanti Rosyada, Zulfi Nur Amrina Rosyta, Pegy Royhan Alhak, Maftuh Safitri, Ainun Merta Safitri, Erma - Saputro, Amung Logam Sarmanu, Sarmanu Sauqi, Muhammad Septian H, Fajar Sigit Winarto, Sigit Soeharsono Soeharsono Sri Mulyati Sri Pantja Madyawati, Sri Pantja Suharsono Suharsono Suherni Susilowati Sukmanadi, Mohammad Supriyadi Supriyadi Supriyadi Suwarno Suwarno Suzanita Utama Syarifudin, Ahmad TARZAN PURNOMO Tatik Hernawati Tehupuring, Benjamin Chr Tita Damayanti Lestari Tjuk Imam Restiadi Tri Wahyu Suprayogi Trilas Sardjito Tutik Wijayanti, Tutik Wahyu Setiawan Walfajri Walfajri Wibawati, Prima Ayu Widjiati Widjiati, Widjiati Widya Paramita Lokapirnasari Wildani Hefni Wurlina, W Yahya, Alwi Yuliana, Mia Yunita, Maya Nurwartanti Zayyin Dinana Zuzy Aryanti, Zuzy