Exploration of The Use of Waqf Assets at Educational Institutions
Abstract
The research is motivated by several studies that only focus on the use of the waqf system, while the success in managing waqf assets so that the principal and benefits can last is to formulate specific targets for the right needs in using waqf assets. The purpose of this study is to explore the use of waqf assets given to educational institutions so that they are right on target and maintain the essence of the use of waqf assets. The approach used is a qualitative approach using literacy studies from various existing publications. Educational institutions can regulate waqf governance according to the type of waqf property provided by the waqf. The results of this study can provide views for waqf-based educational institutions to be able to maintain and manage waqf assets in accordance with established rules. Mobile waqf such as cars, cash, and securities can be managed by investing in SMEs located around the institution, or rented out or invested in short and medium-term investment programs. Immovable waqf can be managed by building educational facilities or renting out land to produce and all such governance must be in accordance with Islamic finance principles. Immovable waqf can be managed by building educational facilities or renting out land to produce.
Downloads
References
(P3EI), P. P. dan P. E. I. (2015) Ekonomi Islam. Rajawali Press.
Abd Jalil, M. I., Yahya, S. and Allah Pitchay, A. (2019) ‘Building committed Waqif: the role of information disclosure’, Journal of Islamic Accounting and Business Research, 10(2), 185–215. https://doi.org/10.1108/JIABR-05-2016-0058.
Aziz, M. R. A., Johari, F. and Yusof, M. A. (2013) ‘Sustainable Development Through The Islamic Economics System’, Paper Proceeding of the 5th Islamic Economics System Conference (iECONS 2013), (September), 4–5.
Azmi, M., Lahuri, S., Kanggas, F., Kamaluddin, I., & Harahap, S. (2021). Productive Waqf Fund Management Strategy. Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE), 4(1), 201-218. https://doi.org/10.31538/iijse.v4i1.1576.
Bakar, R. et al. (2019) ‘Corporate Waqf University : A Sustainability Model’, 7(1), 24–36.
Farhah et al. (2014) ‘The role of cash waqf in poverty alleviation: a case of Malaysia’, Seminar Waqf Iqlimi 2014, 28–42. Available at: http://ddms.usim.edu.my/handle/123456789/9906.
Gait, A. H., & Worthington, A. C. (2007) ‘A Primer on Islamic Finance: Definitions, Sources, Principles and Methods’, Research Online, (07), pp. 1–31. Available at: www.ro.uow.edu.au.
Khadijah, A. M. S., Sabki, S. M. and Ismail, A. (2017) ‘Philanthropic commitment traits for Waqf in higher education’, Global Journal Al-Thaqafah, 7(1), pp. 71–77. https://doi.org/10.7187/GJAT12820170701.
Khaf, M. (2000) Al-Waqf al-Islam: Tathawwaruh, Idaratuh, Tanmiyatuh. Damaskus: Dar Al-Fikr.
Mahamood, S. M. and Rahman, A. A. (2016). Financing Universities Through Waqf, Pious Endowment: Is It Possible, Humanomics, 32(1), 19–32. https://doi.org/10.1108/H-02-2015-0010.
Paldi, C. (2014) ‘Understanding Riba and Gharar in Islamic Finance’, Journal of Islamic Banking and Finance, 2(1), 249–259.
Perri, O. (1992) ‘Waqf And Ottoman Welfare Polocy’, Journal of Economic and Social History of the Orient, 37.
Rozalinda (2015) Manajemen Wakaf Produktif. Jakarta: Rajawali Press.
Shah, S. N. (2014). Integrating Zakāt and Waqf into the Poverty Reduction Strategy of the IDB Member Countries, Islamic Economic Studies, 22(1), 79–108. http://dx.doi.org/10.12816/0004131.
Shamsudin, A. F. et al. (2015) ‘A conceptual model for inter-state corporate waqf financing for higher learning’, Global Journal Al-Thaqafah, 5(1), 51–58. http://dx.doi.org/10.7187/GJAT782015.05.01.
Unair, D. B. D.-F. (2016). Wakaf: Pengaturan dan Tata Kelola yang Efektif. Jakarta: Departemen Ekonomi dan Keuangan Syariah - BI.
Copyright (c) 2022 Arridha Harahap, Yurmaini Yus
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment 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 acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
