Modelling Sukuk Waqf for Pesantren Economic Development

Sabrina, Nadiah (2018) Modelling Sukuk Waqf for Pesantren Economic Development. Diploma thesis, Universitas Darussalam Gontor.

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The development of waqf land in Indonesia is growing very rapidly over the last few years. According to the Ministry of Religious Affairs on the year 2016, waqf land areas in Indonesia reach 49.444,01 ha . From many existing waqf assets, only few of these assets have developed productively. The problem of funding is being the most common obstacle to develop these assets, therefore it needs an instrument of fundraising to develop the waqf assets. Sukuk is a financing instrument that is based on raising funds from investors and then be utilized for funding. So that the integration of sukuk and waqf will be a breakthrough in developing waqf asset, for sukuk will help to raise fund for developing waqf asset. In Indonesia, most of waqf assets are used for education as many as 65% of the total assets of waqfs in Indonesia. Pesantren as one of the pioneer of Islamic education in Indonesia have been very long using waqf to develop its economic milestones, unfortunately a lot of waqf assets owned by pesantren have not been put into productive use due to lack of development funds. Sukuk waqf is a new breaktrough in the field of economics for developing waqf assets through fundraising. However, its application is still very risky in Indonesia. The absence of regulation and the length of procedures to be performed will be a major obstacle in the application of sukuk waqf. Especially when it applied to pesantren, which has an independent economic system and has not included to business organization which has an authority to issue sukuk. Therefore, the author wants to create a model of sukuk waqf that possible for pesantren to apply it in their economic system without ignoring the principles of pesantren and not violating the existing regulation. So, that will not trespass the principles of pesantren and government regulations. This study will use Analytic Network Process (ANP) method. Application of this method uses the approach of interviews, Focus Group Discussions and filling the questionnaire by the respondents, thus the results will be prossessed to SuperDecision software to determine the tendency of respondents to a problem. Respondents are drawn from academics, pesantren waqf practitioners and regulators so that the questionnaire will be filled out by the respondents who have different backgrounds and different perspectives as well. This method is intended to establish a model and to decide which model might be applied in the economic development of the pesantren. In addition, the author will conduct research in the literature to build a strong theory in the development and the search for issues in modeling sukuk waqf. The results of this study can be seen in the agreement of respondents. From this research is known that the respondent reach a low agreement in model selection. However, there is one model that is superior compared to other models although slightly different. According to respondents, sukuk waqf that is most probably applied is sukuk waqf through the government. The author hopes that the next research will be able to develop better models to refine existing models or to develop new models entirely, so they can be applied properly in pesantren in particular or in another institution in general. Keyword: sukuk, waqf, pesantren economic

Item Type: Thesis (Diploma)
Subjects: L Education > L Education (General)
Divisions: Fakultas Ekonomi dan Manajemen UNIDA Gontor > Ekonomi Islam
Depositing User: Mr Muhammad Taufiq Riza
Date Deposited: 04 Nov 2020 05:30
Last Modified: 04 Nov 2020 05:30

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