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Optimizing Waqf Management For Social Impact Arizqiya Nurfattah; Royyan Bachtiar
Islamic Business and Management Journal Vol. 6 No. 2 (2023): IBMJ | December
Publisher : University of Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/ibmj.v6i2.11376

Abstract

Waqf is a distinctive instrument in the Islamic financial system that aims to provide social and economic benefits to society. In Indonesia, waqf has great potential to improve people's welfare, support social and economic development, and advance various sectors in the country, such as issues of access to education and health, among others. This is inseparable from the optimal management of waqf management which is the life of waqf sustainability. This paper reviews good waqf management supported by all aspects including digital aspects, and discusses the challenges faced by the development of digital technologies such as websites, blockchains, and so on in facilitating the management and development of waqf in Indonesia so that it can follow the pattern of steps in the digital era. The results of the study explain that digital innovations such as websites, blockchain, and others are very helpful in carrying out clearer and more accountable waqf management. In other words, the welfare of the state and society is supported by social activities derived from waqf assets, productive investment, and Sharia compliance. Optimal waqf management involves all aspects consisting of sharia compliance, regulations, and the use of adequate technology that has an impact on social activities, education, and even productive investment of waqf assets.
Waqf Stock in Securities Companies (Models, and Perspectives of Islamic Social Finance) Arizqiya Nurfattah; Royyan Bachtiar
Journal of Islamic Economics and Philanthropy Vol. 6 No. 2 (2023): November
Publisher : Universitas Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

The magnitude of cash waqf potential in Indonesia, which reaches 180 trillion, has not been realized, as evidenced by the acquisition of cash waqf of only 1 trillion. Product innovations continue to be presented in order to attract the interest of the Muslim community in waqf, one of which is stock waqf which is present as an alternative to cash waqf derivative products with the main target of stock investors mediated by securities. This research is qualitative research with a descriptive qualitative approach with the type of research library, the findings of the research show that the implementation of waqf shares by wakif or investors is bridged by securities companies, which are then channeled to the waqf asset manager (nazir). The legal basis for waqf in stock waqf refers to the law of cash waqf because stock waqf is actually a derivative of cash waqf.