The Roles of Cash Waqf in Improving the Economic Welfare: Case Study of Turkey

Azrak, Tawfik

doi:10.37231/jmtp.2022.3.1.200

Cited by 4 publications

(4 citation statements)

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“…By addressing challenges and capitalizing on opportunities, BMT Bima can further enhance its impact and contribute to the holistic advancement of communities in Indonesia and beyond. The findings of this research are consistent with those of a number of prior investigations (Azrak, 2022;Nurchaliza & Wirdyaningsih, 2019;Qurrata et al, 2021;Ratnasari et al, 2019;Saiti et al, 2021)that demonstrate financial waqf can enhance community welfare via a variety of methods.…”

Section: Discussionsupporting

confidence: 89%

Strategy of BMT Bima Magelang in Improving Public Welfare Thought Cash Waqf

Wicaksono,

Hartomi

2023

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Cash waqf is one of the methods used to help people with various activities and overcome challenges such as poverty reduction. As a result, it is vital to have an institution that can handle cash waqf effectively and optimally. BMT Bima Magelang is one of the cash waqf institutions that can correctly manage its cash waqf assets in order to increase social welfare. The goal of this study was to determine excellent and proper cash waqf administration in line with Sharia and the standards of good waqf governance, in order to increase social welfare, particularly in Baitul Maal Wa Tamwil Bima Magelang. Because BMT Bima Magelang is one of the waqf institutions that has been successful in managing cash waqf with effective waqf governance in order to increase social welfare. This study employs qualitative research, with data gathered through structured interviews, passive participation observation, and recording. After that, the data was examined using qualitative descriptive analysis. The qualitative descriptive research approach describes the features of phenomena in the field and explains the study object. The findings of this study show that Baitul Maal Wa Tamwil Bima Magelang uses waqf management with the mudhorobah system, with mudhorobah financing allocated to goat farmers and Micro, Small and Medium Enterprises (MSMEs), and that in the management of cash waqf BMT Bima Magelang implements good waqf governance, which improves social welfare through social programs. Profits from the finance are then utilized to fund businesses and make loans. The revenues from the mudhorobah finance are then utilized for financing (scholarships) for BMT members, financing for child circumcision, and rehabilitation of locals' houses that are unsuited for habitation. These several factors indicate that BMT Bima Magelang's cash waqf management is in conformity with cash standardization, good waqf governance, and sharia management.

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Section: Discussionsupporting

confidence: 89%

Strategy of BMT Bima Magelang in Improving Public Welfare Thought Cash Waqf

Wicaksono,

Hartomi

2023

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“…Turkey, like Malaysia, has a history of using waqf in HEIs. The Turkish government generally funds public universities in Turkey, whilst private institutions primarily fund their educational operations with their own cash (Azrak, 2022). Since 1980, Turkey has struggled financially to meet public demand for higher education in the higher education sector.…”

Section: Literature Reviewmentioning

confidence: 99%

Examining the Legal Procedures of Waqf Implementation in Higher Education Institutions (HEIs) in Malaysia and Turkey

Hussin,

Harun

2023

E-BPJ

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Any higher education institutions (HEIs) in Malaysia intending to implement waqf must obtain approval from the State Islamic Religious Councils (SIRCs) as the sole trustee of waqf. Meanwhile, in Turkey, the consent of the Directorate General Foundation (DGF) is required to establish a foundation university. The study aims to analyze the legal framework in both countries for waqf implementation in HEIs. This research utilized a doctrinal approach and fieldwork study to gain in-depth data. The findings reveal that waqf implementation in HEIs in both countries is unique and implemented in diverse ways as they adhere to their legal frameworks.

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“…The performance that should be assessed in waqf institutions is not only based on economic indicators but also qualitative measurements that include the institution's growth, effectiveness, transparency, and sustainability (Noordin et al, 2017). In the Western world, waqf institutions are classified as non-profit organisations, attracting much attention among scholars recently (e.g., Qurrata et al, 2021;Azrak, 2022;Amin et al, 2023). Although the donation potential of waqf institutions as non-profit organisations has been escalating, there are problems with the sustainability of waqf institutions due to major criticisms of these institutions.…”

Section: Introductionmentioning

confidence: 99%

Waqf Sustainability or Sustainable Waqf? A Bibliometric Analysis

Qurrata,

Mohd. Shafiai,

Alma’amun

et al. 2024

Millah J. Rel. Stud.

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Research on waqf sustainability is increasing in popularity, showing exponential growth in publication and citation numbers. The realm of research has grown intricate and fragmented, thereby posing a growing challenge to the regulation of waqf sustainability. The main purpose of this study is to organise and integrate the preliminary studies on the theme of waqf sustainability. To this end, this study involved bibliometric analysis, distinguishing it from previous analyses, which were outdated and/or different focus. We collected 84 articles extracted from Scopus and Web of Science (WoS) databases, covering 20 years from 2001 to 2022. The findings showed that the most prolific authors were from Malaysia. There are five research themes regarding waqf sustainability, including the accountability of Islamic social finance as a third-sector economy, the sustainability of Islamic microfinance, the role of intellectual capital in waqf institutions, the effectiveness of management, and the performance measurement of waqf institutions. This study shows that the performance of waqf institutions for waqf sustainability is scant. Hence, there is an important research gap that can be addressed in future research since sustainability is a priority agenda as outlined in the Sustainable Development Goals (SDGs) blueprint.

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The Roles of Cash Waqf in Improving the Economic Welfare: Case Study of Turkey

Cited by 4 publications

References 0 publications

Strategy of BMT Bima Magelang in Improving Public Welfare Thought Cash Waqf

Strategy of BMT Bima Magelang in Improving Public Welfare Thought Cash Waqf

Examining the Legal Procedures of Waqf Implementation in Higher Education Institutions (HEIs) in Malaysia and Turkey

Waqf Sustainability or Sustainable Waqf? A Bibliometric Analysis

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