The Role of Sharia Banks as Nazhir Partners in the Management of CWLS Retail SWR001 Investment Products

Abstract

Islamic social finance, one of which waqf should have a position and role that can synergize to contribute economically, considering Indonesia has the largest Muslim population in the world. The issue that the potential waqf assets of 2000 trillion with about 51,155.57 ha of waqf land that exists today has not been a productive asset that serves as a source of income in developing the people's economy. While the potential of cash waqf that reaches Rp 180 trillion (BWI) but collected around 391 billion. Therefore, needs the innovation of social finance-based investment scheme with the support of professionalization in its management (in this case nadzir board), one of which is LKS-PWU, especially Sharia Banking. Through State Sukuk instruments in the form of CWLS retail SWR001 products, the government and BWI involve Sharia Banking as Nazhir partners and distribution partners. This study aims to explain the role of sharia banking as nazhir partners in the management of Cash Waqf Linked Sukuk (CWLS) retail SWR001 investment products in the perspective of the basic principles of waqf. This research was conducted by qualitative research method, Library Research approach. Validity of data with source triangulation. The data analysis technique in this study is to use discourse analysis. The results showed that Policy, management and technical processes conducted by Sharia Banking in the management of CWLS Retail SWR001 both in terms of nazhir criteria, the process of collecting and distributing waqf funds is compatibility with the provisions of the Basic Principles of Waqf (PPW) at points 13, 15 and 17 in order to realize good governance for nazhir(Good Nazhir Governance).
 Keywords: Islamic Bank, Cash Waqf, CWLS Retail SWR001, Waqf Core Priciples (WCP), Good Nazhir Governance

A Comprehensive Study on the Scientific Literatures Performance of Cash Waqf Linked Sukuk (CWLS) using NVivo

“…This diagram summarizes the research approach used in research methodology related to CWLS in the scientific literature. It can be concluded that in the realm of research on CWLS, the dominant prevalence was found in the form of qualitative investigations in the form of literature studies with a percentage of 64.71% Afrianti, 2022;Anindhita et al, 2022;Armen et al, 2022;Cahyono et al, 2022;Hafandi et al, 2021;Indra et al, 2020;Istikomah et al, 2021;Lailatullailia et al, 2021;Maesarach et al, 2022;Mudriqoh, 2023;Mukti et al ., 2022;Nugroho et al, 2022;Puspitasari et al, 2022;Putri et al, 2020;Rahayu et al, 2020;Rahman et al, 2021;Maulina, 2022;Sa'idaturrohman , ;Sasongko et al, 2021;Siswantoro, ;Sulaeman et al, 2022;Tanjung & Agus, 2021 ;Ubaidilaah & Wahyu, 2021;Winarto et al, 2021; ANP (Afifah et al, 2022 ;Rabbani et al;Suratman et al, 2023) (Nurjamil, 2021), content analysis (Wati et al, 2022) and SLR Joseph, 2022).…”

Analisis Penerapan Strategi Pemasaran Produk Tabungan Easy Wadiah

“…Pada operasinya bank syariah tidak hanya berprinsip mencari keuntungan saja, melainkan memerhatikan aspek-aspek sosial di dalamnya. (Dian Lailatullailia et al, 2021) Bahkan secara hukum bank syariah diatur dalam peraturan BI Nomor 6/24/PBI/2004 tentang Bank Umum yang Melaksanakan Kegiatan Usaha Berdasarkan Prinsip Syariah. Pada pasal 36 dijelaskan bahwa Bank wajib menerapkan prinsip syariah dan prinsip kehati-hatian dalam melakukan kegiatan usahanya, yakni meliputi melakukan penghimpunan dana dari masyarakat dalam bentuk simpanan dan investasi, salah satunya yaitu tabungan (Wijaya, 2021).…”

Sentiment Analysis on Cash Waqf

“…In addition, research conducted by Prananingtyas and Disemadi (2020) shows that the collection of cash waqf at KSPPS/USPPS has only reached IDR 33.7 billion. The data shows that there are still fundamental issues that need to be resolved regarding the potential and gaps in the realization of cash waqf collection in this most generous country (Lailatullailia et al, 2021;Zatadini et al, 2019).…”