IDEAS home Printed from https://ideas.repec.org/a/bjz/ajisjr/2290.html
   My bibliography  Save this article

Implementation of Corporate Waqf Core Principles in the Development of Waqf in Indonesia

Author

Listed:
  • Miftahul Huda
  • Lukman Santoso

Abstract

The development of corporate waqf in Indonesia is relevant in creating an alternative model for the sustainability of waqf benefits and contributing to the national economic growth. This study aims to explore the implementation of Corporate Waqf Core Principles (CWCP), a set of sharia principles for corporate waqf implemented in the growth of waqf in Indonesia. This study uses qualitative research with a specific focus on comparative analysis of the advantages of waqf management at two different institutions that develop corporate waqf, Waqf Board Foundation of Universitas Islam Indonesia (YBW UII) Yogyakarta and Pesantren Tebuireng in Jombang. YBW UII Yogyakarta has developed productive waqf assets and immovable objects through professional and profitable multi-company institutions, ensuring that the waqf’s results expand and the benefits fly. Pesantren Tebuireng, on the other hand, understands the implementation of CWCP in the framework of productive waqf administration and management by conceptualizing the productivity of waqf assets through corporate and institutional management. The two models of waqf management methods ensure that waqf management within the corporate institutional framework is more productive and produces long-term outcomes and benefits. However, there are certain deviations in the implementation of the CWCP which has not used shares as waqf assets. The development of this waqf model in Indonesia can accelerate community economic development.

Suggested Citation

  • Miftahul Huda & Lukman Santoso, 2022. "Implementation of Corporate Waqf Core Principles in the Development of Waqf in Indonesia," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 11, September.
    • Handle: RePEc:bjz:ajisjr:2290
    DOI: https://doi.org/10.36941/ajis-2022-0129
    as

    Download full text from publisher

    File URL: https://www.richtmann.org/journal/index.php/ajis/article/view/13048
    Download Restriction: no
    File URL: https://www.richtmann.org/journal/index.php/ajis/article/view/13048/12640
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.36941/ajis-2022-0129?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Fathullah Asni & Mohd Amirul Mahamud & Jasni Sulong, 2020. "Socio-economics and management of Muslim cemeterywaqfusing istibdal and GIS method in Penang state," Journal of Islamic Accounting and Business Research, Emerald Group Publishing Limited, vol. 11(7), pages 1343-1362, February.
    2. Çizakça, Murat, 1998. "Awqaf In History And Its Implications For Modern Islamic Economies," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 6, pages 43-70.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Muhammad Shulthoni & Norma Md Saad & Saim Kayadibi & Muhammad Irwan Ariffin, 2018. "Waqf Fundraising Management: A Proposal For A Sustainable Finance Of The Waqf Institutions," Journal of Islamic Monetary Economics and Finance, Bank Indonesia, vol. 3(Special I), pages 153-178, May.
    2. repec:idn:jimfjn:v:4:y:2018:i:2h:p:1-14 is not listed on IDEAS
    3. Rashedul Hasan & M. Kabir Hassan & Mamunur Rashid, 2018. "Cash Waqf Investment And Poverty Alleviation: Case Of Tabung Masjids In Malaysia," Journal of Islamic Monetary Economics and Finance, Bank Indonesia, vol. 4(2), pages 333-346, November.
    4. Volker Nienhaus, 2018. "Awqaf: Social Spending, Development Strategy and Financing الأوقاف: الإنفاق الاجتماعي واستراتيجية التنمية والتمويل," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 31(2), pages 91-99, July.
    5. Michalopoulos, Stelios & Naghavi, Alireza & Prarolo, Giovanni, 2016. "Islam, inequality and pre-industrial comparative development," Journal of Development Economics, Elsevier, vol. 120(C), pages 86-98.
    6. Aliyu, Shehu Usman Rano, 2018. "A treatise on socioeconomic roles of waqf," MPRA Paper 91413, University Library of Munich, Germany, revised 05 Dec 2018.
    7. Ahmed,Habib & Mohieldin,Mahmoud & Verbeek,Jos & Aboulmagd,Farida Wael, 2015. "On the sustainable development goals and the role of Islamic finance," Policy Research Working Paper Series 7266, The World Bank.
    8. Shahimi, Shahida & Mohd Marzuki, Mohd Umar & Embong, Zaini, 2013. "Potential of Cash Waqf for Poverty Alleviation in Malaysia: A System Dynamics Approach," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 47(2), pages 149-163.
    9. Valeria Giacomin & Geoffrey Jones, 2022. "Drivers of Philanthropic Foundations in Emerging Markets: Family, Values and Spirituality," Journal of Business Ethics, Springer, vol. 180(1), pages 263-282, September.
    10. Aris Hassama & Nor Asmat Ismail, 2024. "Determinants of Cash Waqf Donation to Support Islamic Schools in Thailand," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(1), pages 1265-1278, January.
    11. repec:idn:jimfjn:v:3:y:2018:i:specialissuei:p:1-26 is not listed on IDEAS
    12. Lamido , Abdullahi Abubakar & Haneef, Mohamed Aslam, 2021. "Shifting the paradigms in waqf economics: towards renewed focus on socioeconomic development," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 29, pages 18-32.
    13. Norliana Mohammad Hamber & Mohamed Aslam Haneef, 2017. "Waqf-Based Social Micro Venture Fund: A Proposal for the Malay-Muslim Community in Singapore صندوق للتمويل الأصغر القائم على الوقف للمشاريع الاجتماعية: مقترح لمجتمع المسلم الماليزي في سنغافورة," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 30(1), pages 37-60, January.
    14. Nurrachmi, Rininta, 2012. "The Implication of Cash Waqf in the Society," MPRA Paper 44605, University Library of Munich, Germany, revised 26 Feb 2013.
    15. Ezzedine Ghlamallah, 2023. "Sustainable Development And Islamic Economics Paradigms Compared," Post-Print hal-04363875, HAL.
    16. repec:abd:kauiea:v:30:y:2017:i:1:p:37-60 is not listed on IDEAS

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bjz:ajisjr:2290. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Richtmann Publishing Ltd (email available below). General contact details of provider: https://www.richtmann.org/journal/index.php/ajis .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.