Waqf as Alternative Financing Resource for Infrastructure Development in Indonesia: Analytical Hierarchy Process Approach
Keywords:
Waqf Utilization Strategy, Productive Waqf, Infrastructure Development
Abstract
The productive Waqf can be utilized for developing infrastructure in Indonesia as this country has incredible waqf potential. However, the utilization of waqf assets has not been specified for infrastructure development, which has many benefits (maslahah) for Indonesia. This study aims to determine the main problem in utilizing Waqf for infrastructure development in Indonesia from regulatory dimension, management dimension, program dimension, and literacy dimension. The data analysis technique used in this study is Analytical Hierarchy Process (AHP). This study has five experts to deliver their perspective regarding problems and solutions for infrastructure development using productive Waqf in Indonesia. The study results indicate that the severe problem in utilizing productive Waqf for infrastructure in Indonesia based on experts' agreement is the Lack of professional waqf (nazhir) management in managing waqf assets. With increasing the professionalism of nazhir in the management of productive Waqf, the waqf assets are expected to grow gradually that can be used to develop and improve infrastructure in Indonesia. Lastly, the excellent management of Waqf will be able to attract the Muslim community's intention to donate.
References
Agenor, P. R. (2010). A Theory of Infrastructure Led-Development . Centre for Growth and Business Cycle Research, Economic Studies, 2.
Ascarya. (2005). Analytic Network Process (ANP) Pendekatan Baru Kualitatif. Jakarta.
Azis, I. N. (2020, Juli 27). Strategi Wakafpreneur. Retrieved from republika.id: https://www.republika.id/posts/6369/strategi-wakafpreneur.
Creswell, J. W. (2014). Research Design: Qualitative, Quantitative, and Mixed Methods Approaches. Amerika Serikat: Sage Publications.
Hanoum, F. N. (2019). Pembiayaan Infrastruktur dan Peran Suku Bunga. Retrieved from investor.id: https://investor.id/opinion/pembiayaan-infrastruktur-dan-peran-suku-bunga
Hastuti, R. K. (2020). Mencari Format Baru Pembiayaan Infrastruktir Berbasis Syariah. Jakarta: CNBC.
Hidayat, R. (2020). MES Expert Webinar Series: Tinjauan Keuangan Publik Islam Dalam Rangka Pemulihan Ekonomi Nasional Pasca Pandemi Covid-19. (A. Talattov, Pewawancara)
International Working Group Waqf Principles. (2018). Core Principles For Effective Waqf Operation and Supervision. Jakarta: Bank Indonesia.
Laucereno, S. F. (2019). Kemenkeu: Utang untuk Pembangunan Infrastruktur. Retrieved from detik.com: https://finance.detik.com/infrastruktur/d-4370918/kemenkeu-utang-untuk-pembangunan-infrastruktur
Lubis, R. H., & Latifah, F. N. (2019). Analisis Strategi Pengembangan Zakat, Infaq, Shodaqoh, Wakaf di Indonesia. Perisai: Islamic Banking and Finance Journal, 3(1), 45-56.
Mahdiah, N., Hasanah, N., & Nursyamsiah, T. (2019). Factors Affecting Waqif's Decision in Selecting Productive Waqf (Case Study at Dompet Dhuafa Republika). Al-Muzara'ah, 7(2), 27-39.
Ministry of Finance. (2019). Visual Kemenkeu. Retrieved from kemenkeu.go.id: http://visual.kemenkeu.go.id/anggaran-infrastruktur-apbn-2019/
Ministry of Religion Affair. (2016). Retrieved from kemenag.go.id: http://siwak.kemenag.go.id/
Nazir, M. (2011). Metode Penelitian. Jakarta: Ghalia Indonesia.
Nugeraha, D. (2017). Sistem Penunjang Keputusan. Yogyakarta: Garudhawaca.
Pitchay, A. A., Thaker, M. A., Mydin, A. A., Azhar, Z., & Latiff, A. R. (2018). Cooperative-waqf model: a proposal to develop idle waqf lands in Malaysia. ISRA International Journal of Islamic Finance, 230-231.
Saad, N. M., Kassim, S., & Hamid, Z. (2016). Best practices of Waqf: Experiences of Malaysia and Saudi Arabia. Journal of Islamic Economics Lariba , 65-66.
Said, S., & Amiruddin, A. M. A. (2019). Wakaf Tunai dan Pemberdayaan Ekonomi Masyarakat. Al-Mashrafiyah: Jurnal Ekonomi, Keuangan, dan Perbankan Syariah, 3(1), 43-55.
Sasongko, A., Astuti, I. F., & Maharani, S. (2017). Pemilihan Karyawan Baru dengan Metode AHP. Jurnal Informatika Mulawarman, 12(2), 90.
septiyani, R. (2016). Telaah Strategi Penghimpunan Dana (Fundraising) Wakaf Tunai Untuk Mewujudkan Pemberdayaan Masyarakat (Studi Kasus di Baitul Maal Hidayatullah Perwakilan Jawa Timur). UIN Syarif Hidayatullah Jakarta, 146.
Setiawan, S. R. (2019, September 29). Potensi Besar Wakaf Belum Tersosialisasi Dengan Baik. Retrieved from Kompas: https://money.kompas.com/read/2019/09/27/201410426/potensi-besar-wakaf-produktif-belum-tersosialisasi-dengan-baik
Shah, S. N. (2018, February 22). "Waqf: Gaining The Trust For Social Economic Sustainability". Kuala Lumpur, Malaysia.
Shulthoni, M., & Saad, N. M. (2018). Waqf Fundraising Management: A Conceptual Comparison Between Traditional and Modern Waqf Institutions. Indonesian Journal of Islam and Muslim Societies, 8(1), 57-86.
Siswantoro, D., & H. R. (2016). Sustainability of Cash Waqf Development in Indonesia: A Quintuple Helix Perspective. Humanika, 112-113.
Sugianto, D. (2019). Pemerintah Biayai 634 Proyek Pakai Utang, Ini Daftarnya. Jakarta: Detik Finance.
Sugiarto, E. C. (2019, Agustus Kamis). Melanjutkan Pembangunan Infrastruktur dan Indonesia Maju. Retrieved from setneg.go.id: https://www.setneg.go.id/baca/index/melanjutkan_pembangunan_infrastruktur_dan_indonesia_maju
Tanjung, H., & Abrista, D. (2013). Metodologi penelitian ekonomi Islam. Jakarta: Gramata Publishing.
Wicaksono, A. (2019, November 13). BI Sebut Potensi Dana Wakaf Capai Rp3.000 Triliun. Retrieved from CNN Indonesia: https://www.cnnindonesia.com/ekonomi/20191113173328-78-448047/bi-sebut-potensi-dana-wakaf-capai-rp3000-triliun
Widiastuti, T., & Wahyuningsih. (2018). Waqf Produtictive Efficiancy: Evidence From Yayasan Bunda Wakaf Sultan Agung, Semarang. Advances in Social Science, Education and Humanities Research (ASSEHR), 98(178).
Ascarya. (2005). Analytic Network Process (ANP) Pendekatan Baru Kualitatif. Jakarta.
Azis, I. N. (2020, Juli 27). Strategi Wakafpreneur. Retrieved from republika.id: https://www.republika.id/posts/6369/strategi-wakafpreneur.
Creswell, J. W. (2014). Research Design: Qualitative, Quantitative, and Mixed Methods Approaches. Amerika Serikat: Sage Publications.
Hanoum, F. N. (2019). Pembiayaan Infrastruktur dan Peran Suku Bunga. Retrieved from investor.id: https://investor.id/opinion/pembiayaan-infrastruktur-dan-peran-suku-bunga
Hastuti, R. K. (2020). Mencari Format Baru Pembiayaan Infrastruktir Berbasis Syariah. Jakarta: CNBC.
Hidayat, R. (2020). MES Expert Webinar Series: Tinjauan Keuangan Publik Islam Dalam Rangka Pemulihan Ekonomi Nasional Pasca Pandemi Covid-19. (A. Talattov, Pewawancara)
International Working Group Waqf Principles. (2018). Core Principles For Effective Waqf Operation and Supervision. Jakarta: Bank Indonesia.
Laucereno, S. F. (2019). Kemenkeu: Utang untuk Pembangunan Infrastruktur. Retrieved from detik.com: https://finance.detik.com/infrastruktur/d-4370918/kemenkeu-utang-untuk-pembangunan-infrastruktur
Lubis, R. H., & Latifah, F. N. (2019). Analisis Strategi Pengembangan Zakat, Infaq, Shodaqoh, Wakaf di Indonesia. Perisai: Islamic Banking and Finance Journal, 3(1), 45-56.
Mahdiah, N., Hasanah, N., & Nursyamsiah, T. (2019). Factors Affecting Waqif's Decision in Selecting Productive Waqf (Case Study at Dompet Dhuafa Republika). Al-Muzara'ah, 7(2), 27-39.
Ministry of Finance. (2019). Visual Kemenkeu. Retrieved from kemenkeu.go.id: http://visual.kemenkeu.go.id/anggaran-infrastruktur-apbn-2019/
Ministry of Religion Affair. (2016). Retrieved from kemenag.go.id: http://siwak.kemenag.go.id/
Nazir, M. (2011). Metode Penelitian. Jakarta: Ghalia Indonesia.
Nugeraha, D. (2017). Sistem Penunjang Keputusan. Yogyakarta: Garudhawaca.
Pitchay, A. A., Thaker, M. A., Mydin, A. A., Azhar, Z., & Latiff, A. R. (2018). Cooperative-waqf model: a proposal to develop idle waqf lands in Malaysia. ISRA International Journal of Islamic Finance, 230-231.
Saad, N. M., Kassim, S., & Hamid, Z. (2016). Best practices of Waqf: Experiences of Malaysia and Saudi Arabia. Journal of Islamic Economics Lariba , 65-66.
Said, S., & Amiruddin, A. M. A. (2019). Wakaf Tunai dan Pemberdayaan Ekonomi Masyarakat. Al-Mashrafiyah: Jurnal Ekonomi, Keuangan, dan Perbankan Syariah, 3(1), 43-55.
Sasongko, A., Astuti, I. F., & Maharani, S. (2017). Pemilihan Karyawan Baru dengan Metode AHP. Jurnal Informatika Mulawarman, 12(2), 90.
septiyani, R. (2016). Telaah Strategi Penghimpunan Dana (Fundraising) Wakaf Tunai Untuk Mewujudkan Pemberdayaan Masyarakat (Studi Kasus di Baitul Maal Hidayatullah Perwakilan Jawa Timur). UIN Syarif Hidayatullah Jakarta, 146.
Setiawan, S. R. (2019, September 29). Potensi Besar Wakaf Belum Tersosialisasi Dengan Baik. Retrieved from Kompas: https://money.kompas.com/read/2019/09/27/201410426/potensi-besar-wakaf-produktif-belum-tersosialisasi-dengan-baik
Shah, S. N. (2018, February 22). "Waqf: Gaining The Trust For Social Economic Sustainability". Kuala Lumpur, Malaysia.
Shulthoni, M., & Saad, N. M. (2018). Waqf Fundraising Management: A Conceptual Comparison Between Traditional and Modern Waqf Institutions. Indonesian Journal of Islam and Muslim Societies, 8(1), 57-86.
Siswantoro, D., & H. R. (2016). Sustainability of Cash Waqf Development in Indonesia: A Quintuple Helix Perspective. Humanika, 112-113.
Sugianto, D. (2019). Pemerintah Biayai 634 Proyek Pakai Utang, Ini Daftarnya. Jakarta: Detik Finance.
Sugiarto, E. C. (2019, Agustus Kamis). Melanjutkan Pembangunan Infrastruktur dan Indonesia Maju. Retrieved from setneg.go.id: https://www.setneg.go.id/baca/index/melanjutkan_pembangunan_infrastruktur_dan_indonesia_maju
Tanjung, H., & Abrista, D. (2013). Metodologi penelitian ekonomi Islam. Jakarta: Gramata Publishing.
Wicaksono, A. (2019, November 13). BI Sebut Potensi Dana Wakaf Capai Rp3.000 Triliun. Retrieved from CNN Indonesia: https://www.cnnindonesia.com/ekonomi/20191113173328-78-448047/bi-sebut-potensi-dana-wakaf-capai-rp3000-triliun
Widiastuti, T., & Wahyuningsih. (2018). Waqf Produtictive Efficiancy: Evidence From Yayasan Bunda Wakaf Sultan Agung, Semarang. Advances in Social Science, Education and Humanities Research (ASSEHR), 98(178).
Published
2021-02-08
How to Cite
Fawwaz, M. F., Juliana, J., Cakhyaneu, A., Muhammad, M., & Marlina, R. (2021). Waqf as Alternative Financing Resource for Infrastructure Development in Indonesia: Analytical Hierarchy Process Approach. Jurnal Kajian Peradaban Islam, 3(2), 50-58. https://doi.org/https://doi.org/10.47076/jkpis.v3i2.53
Section
Islamic Economics and Finance
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Copyright
- The Author and each co-authors transfer the copyright and grant the journal right of publication with the work simultaneously licensed under an International Creative Commons Attribution and ShareAlike 4.0 License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors should sign copyright transfer agreement when they have approved the final proofs sent by ISLAMIC RESEARCH prior the publication.
Author Guarantee
- The Author (Co-authors) guarantees that the Materials are an original work, submitted only to ISLAMIC RESEARCH, and have not been published previously.
- In case the Materials were written jointly with Co-authors, the Author guarantees that he/she has informed them of the terms of this Agreement and obtained their signatures or written permission to singe on their behalf.
- The Author guarantees as well that:
- The Materials do not contain libelous statements.
- The Materials do not infringe on other persons' rights (including without limitation copyrights, patent rights and the trademark right).
- The Materials do not contain facts or instructions that can cause damage or injury to third parties and their publication dose not cause the disclosure of any secret or confidential information
ISLAMIC RESEARCH is Published by Perhimpunan Intelektual Muslim Indonesia, and licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Copyright ©2022.
