Management Model of Cash Waqf for University

Hayati, Isra; Sihotang, Mutiah Khaira; Hamdani, Lukman

doi:10.31538/iijse.v5i2.2356

Cited by 3 publications

(3 citation statements)

References 8 publications

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“…The ICWME-I model, designed by Mohd Thas Thaker et al (2016), aims to utilize cash waqf funds to provide microfinance for marginalized communities, particularly micro-enterprises, to improve access to finance and enhance skills . While expected to contribute to micro-enterprise development in Malaysia, the model's operational and structural issues, market applicability, and behavioral intention for micro-enterprise adoption require further investigation (Hayati et al, 2022;Thaker, 2018;Thaker et al, 2016).…”

Section: Integrated Cash Waqf Micro Enterprise Investment (Icwme-i) M...mentioning

confidence: 99%

Cash Waqf Linked Deposit Potential for Revitalizing Islamic Banking in Indonesia

Utomo,

Ismal

2024

SJEKI

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Despite existing for over two decades, the market share of Islamic banking remains stagnant. Conversely, Indonesia possesses immense, yet underutilized, potential for cash waqf (charitable endowments). This study investigates the Cash Waqf Linked Deposit (CWLD) product, an initiative by OJK, focusing on its potential to enhance Islamic bank participation in cash waqf management. The research explores the responses of cash waqf participants through in-depth interviews and Focus Group Discussions (FGDs) with seven key figures: two waqif (donors), three representatives from LKS PWU (waqf collecting institutions), and two nazir (managers). Descriptive qualitative analysis facilitated by NVivo software is employed to understand the responses. The findings reveal a high level of alignment (70% average word similarity) between the proposed CWLD product design and stakeholder expectations. All stakeholders expressed positive responses and support for CWLD. They perceive CWLD as a facilitator for waqf contributions through Islamic banks, a means to expand existing waqf assets, and an attractive option due to the temporary nature of the deposits with eventual return to the waqf. This study highlights the potential of CWLD to bridge the gap between Islamic banking and cash waqf in Indonesia, potentially contributing to a more dynamic Islamic banking landscape.==============================================================================================================ABSTRAK – Potensi Cash Waqf Linked Deposit dalam Revitalisasi Perbankan Syariah di Indonesia. Pangsa pasar perbankan syariah menunjukkan stagnasi meskipun sudah beroperasi selama lebih dari dua dekade. Di sisi lain, potensi wakaf uang di Indonesia sangat besar, namun belum difasilitasi secara optimal oleh perbankan syariah. Penelitian ini bertujuan untuk mengevaluasi produk Cash Waqf Linked Deposit (CWLD) yang diinisiasi oleh OJK, dengan fokus pada respons para pemangku kepentingan wakaf uang. Data penelitian dikumpulkan melalui wawancara mendalam dan Focus Group Discussion (FGD) dengan tujuh narasumber kunci, yaitu dua waqif (pemberi wakaf), tiga perwakilan LKS PWU (lembaga pengumpul wakaf uang), dan dua nazir (pengelola wakaf). Untuk memahami tanggapan responden, penelitian ini menggunakan analisis kualitatif deskriptif dengan bantuan perangkat lunak NVivo. Hasil penelitian menunjukkan bahwa desain dan usulan produk CWLD yang diinisiasi oleh OJK telah sangat mengakomodasi aspirasi dan harapan para pemangku kepentingan. Analisis kesamaan kata antar wawancara menunjukkan rata-rata 70%, yang mengindikasikan kesesuaian produk dengan kebutuhan pemangku kepentingan. Para pemangku kepentingan memberikan respons positif dan dukungan terhadap usulan produk CWLD. Mereka memandang CWLD sebagai fasilitator bagi waqif untuk melakukan wakaf melalui bank syariah, produk alternatif untuk meningkatkan aset wakaf yang sudah ada, dan pilihan menarik bagi waqif karena dana wakaf bersifat sementara dan akan kembali kepada waqif. Hasil kajian ini menggarisbawahi besarnya potensi CWLD dalam menjawab persoalan stagnasi pangsa pasar perbankan syariah dengan memanfaatkan potensi wakaf uang yang besar di Indonesia.

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Section: Integrated Cash Waqf Micro Enterprise Investment (Icwme-i) M...mentioning

confidence: 99%

Cash Waqf Linked Deposit Potential for Revitalizing Islamic Banking in Indonesia

Utomo,

Ismal

2024

SJEKI

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“…Research on digital waqf in Indonesia is, however, still limited, mostly focusing on theoretical aspects. The main focus of the discussion revolves around the impact of waqf on enhancing the well-being of individuals (Fitri & Wilantoro, 2018) and promotion of education and awareness about waqf (Hasan et al, 2019;Hayati et al, 2022).…”

Section: Introductionmentioning

confidence: 99%

Empowering the Future of Cash Waqf through Digitalisation: An Insight into the Philanthropic Intention of the Indonesian Muslim Community

Bonang,

Ismail,

Raditya Sukmana

2024

IJIF

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Purpose — This research explores the dimensions of perceived iḥsān (altruism) and trust, utilising a framework rooted in the Unified Theory of Acceptance and Use of Technology (UTAUT), to comprehensively explore the intricate motivations and ethical considerations underlying individuals’ engagement with digital waqf platforms. Design/Methodology/Approach — Structural Equation Modeling (SEM) was applied to analyse primary data collected from 202 Muslims residing in four cities in Indonesia. Findings — The investigation unveiled that performance expectancy, social influence and perceived iḥsān significantly impact the intention of digital waqf usage. On the other hand, trust affects a person’s intention, shaping their behaviour to donate through digital waqf platforms. In contrast, effort expectancy does not affect the intention to engage in waqf through digital channels, and facilitating condition do not affect user behaviour. Originality/Value — This study introduces a novel approach by incorporating perceived iḥsān and trust dimensions into the UTAUT model to achieve the objective of this research. In particular, it offers unique insights into the disbursement of cash waqf among Muslims via digital platforms (e.g., online channels). Practical Implications — The study emphasises that individuals from the low middle-class demonstrate empathy and mutual support in the face of financial limitations. The article offers valuable recommendations to the government, aligning with Indonesia’s Golden 2045 goal. These recommendations encompass the implementation of advanced digitisation in waqf management, integration of waqf data into robust financial management systems, and intensified educational campaigns aimed at raising public awareness on cash waqf, particularly among the younger generation.

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“…Berdasarkan laporan survei literasi wakaf di Indonesia tahun 2020, literasi wakaf Indonesia masih dalam ketegori rendah dari segala dimensi yaitu nilai pemahaman wakaf dasar, nilai pemahaman wakaf lanjutan, dan nilai indeks literasi wakaf (BWI, 2020). Hasil penelitian Hayati & Sihotang (2022) menunjukkan faktor SDM dengan nilai agak setuju 2%, perguruan tinggi dengan nilai agak setuju 12% dan nilai operasional cukup setuju 1%, serta strategi yaitu sinergi antara BWI dan perguruan tinggi dengan menggunakan lokal. hikmah dan dijadikan wakaf sebagai gaya hidup dengan nilai agak setuju sebesar 16%.…”

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Wakaf Uang: Membangun Warga Muhammadiyah Medan Deli Melalui Kampanye Sosial Literasi Keuangan

Edi,

Amsari,

Hayati

2024

JMM

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Abstrak: Permasalahan yang ditemukan di Cabang Muhammadiyah Medan Deli yang menjadi mitra, maka unsur Cabang Muhammadiyah Medan Deli dan Tim Pengabdian telah sepakat bahwa prioritas yang perlu segera mendapatkan solusi adalah terkait literasi wakaf untuk kemaslahatan umat. Agar lebih fokus terhadap permasalahan sehingga memudahkan pengambilan tindakan atau kegiatan pengabdian, maka pengurus cabang dan tim pengabdian sepakat perlu ada transfer informasi, penguatan wawasan dan pendampingan ranting oleh tim pengabdian mengenai topik tentang literasi wakaf. Tujuan edukasi literasi wakaf uang untuk meningkatkan pemahaman dan keterampilan masyarakat terkait dengan konsep wakaf uang, prinsip-prinsip keuangan Islam, dan strategi pengelolaan keuangan yang sesuai dengan prinsip wakaf. Mitra dalam pengabdian ini yaitu Pimpinan Cabang dan Ranting Muhammadiyah Medan Deli serta jamah pengajian keseluruhannya berjumlah 25 orang. Metode pelaksanaan yang mengacu kepada analisis situasi program yang disepakati bersama mitra dengan melakukan tiga kali workshop secara bersamaan dalam satu waktu. Sistem evaluasi yang diimplementasikan dalam pengabdian ini dengan uji pengetahuan pra dan pasca kampanye, partisipasi masyarakat, pengukuran perubahan perilaku keuangan, survei kepuasan peserta. Persentase keberhasilan kegiatan pengabdian masyarakat edukasi literasi wakaf uang berdasarkan evaluasi adalah 80%. Persentase ini mencerminkan sejauh mana kegiatan tersebut berhasil meningkatkan pemahaman literasi wakaf uang di antara peserta yang terlibat. Target dan luaran yang diharapkan dari kegiatan pengabdian ini adalah produk dan jasa, yang dapat dirinci yaitu: (1) Produk berupa booklet wakaf; dan (2) Kotak wakaf.Abstract: The problems found at the Muhammadiyah Medan Deli Branch which is a partner, elements of the Muhammadiyah Medan Deli Branch and the Community Service Team have agreed that the priority that needs to be immediately resolved is related to waqf literacy for the benefit of the people. In order to be more focused on problems so as to make it easier to take action or service activities, the branch management and service team agreed that there was a need for information transfer, strengthening insight and mentoring by the service team regarding the topic of waqf literacy. The aim of cash waqf literacy education is to increase people's understanding and skills related to the concept of cash waqf, Islamic financial principles, and financial management strategies that are in accordance with waqf principles. Partners in this service are the Head of the Medan Deli Muhammadiyah Branch and Branch as well as a total of 25 study congregations. The implementation method refers to an analysis of the program situation agreed upon with partners by conducting three workshops simultaneously at one time. The evaluation system implemented in this service includes pre- and post-campaign knowledge tests, community participation, measuring changes in financial behavior, participant satisfaction surveys. The percentage of success of cash waqf literacy education community service activities based on evaluation is 80%. This percentage reflects the extent to which the activity succeeded in increasing understanding of cash waqf literacy among the participants involved. The targets and outputs expected from this service activity are products and services, which can be detailed, namely: (1) Products in the form of waqf books; and (2) Waqf boxes.

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Management Model of Cash Waqf for University

Cited by 3 publications

References 8 publications

Cash Waqf Linked Deposit Potential for Revitalizing Islamic Banking in Indonesia

Cash Waqf Linked Deposit Potential for Revitalizing Islamic Banking in Indonesia

Empowering the Future of Cash Waqf through Digitalisation: An Insight into the Philanthropic Intention of the Indonesian Muslim Community

Wakaf Uang: Membangun Warga Muhammadiyah Medan Deli Melalui Kampanye Sosial Literasi Keuangan

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