Regulations and Management of Waqf Institutions in Indonesia and Singapore: A Comparative Study
Abstract
Waqf is an Islamic philanthrophy instrument that can be used as a source of funds for Muslims. Indonesia as a country that has the largest Muslim population in the world, but in practice the realization of the optimization of the potential and utilization of waqf funds in Indonesia is still low, while Singapore which is a minority Muslim is able to utilize waqf funds optimally and productively. The priority of regulatory issues is less supportive, because regulation is the basis or legal basis for the management of waqf. The purpose of this research is to compare the regulation and management of waqf management in Indonesia and Singapore, so that the implications of this research result can be used as input for the development of waqf management in Indonesia. The research method used is descriptive qualitative approach and a statute approach. The results of this research is waqf regulation in Indonesia contained in Law No. 41 of 2004 and Government Regulation Number 42 of 2006 as implementing regulations. Waqf regulations in Singapore are found in the Administration of Muslim Law Act (AMLA) in the Act. No. 27 of 1966. Most of the management of waqf in Indonesia is still on the property of waqf not moving like land, but in its development Indonesia is developing waqf of movable property (cash waqf). The management in the development of productive waqf in Singapore uses istibdal method which is applied in various forms to make waqf assets have high value and are productive.
Keywords: Waqf, Regulation, Management
References
[1] Administration of Muslim Law Act (AMLA) Tahun 1968. Retrieved from http://statutes. agc.gov.sg/aol/search/display/view.
[2] Ali, K. M., Yuliani, M., Mulatsih, S., & Abdullah, Z. (2018). Aspek-Aspek Prioritas Manajemen Waqf di Indonesia. Journal of Islamic Economics, 3(1), 1-28. Retrieved from http://journal.staincurup.ac.id/index.php/alfalh
[3] [BPS] Badan Pusat Statistik. Data Penduduk Menurut Wilayah dan Agama yang Dianut. [internet]. [diunduh pada 2016 September 27]. Retrieved from: http://sp2010. bps.go.id/index.php/site/tabel?tid=321&wid=0 (2010)
[4] Badan Wakaf Indonesia (BWI). (2018). Berita BI-IRTI-BWI Matangkan Waqf Core Principles. Retrieved September 29, 2018, from Badan Wakaf Indonesia: https://bwi.or.id/index.php/asdfsdaf/1beritawakaf/1715-bi-irti-bwi-matangkanwaqfcore principles.html.
[5] Beik, I. S. (2013). Mengoptimalkan Wakaf Uang Bagi Pengembangan UMKM. Iqtishodia Jurnal Ekonomi Islam Republika, p. 23.
[6] Departemen Ekonomi dan Keuangan Syariah (DEKS) Bank Indonesia. (2016). Waqf: Pengaturan dan tata kelola yang efektif. Seri Ekonomi dan Keuangan Syariah. Jakarta: Bank Indonesia.
[7] Directorate of Waqf Empowerment. (2006). Fiqh Waqf. Jakarta: Direktorat Jenderal Bimbingan Masyarakat Islam Departemen Agama RI.
[8] Fahruroji. (2015). Pengembangan Harta Wakaf di Singapura. Jurnal Equilibrium, 3(1), 105-125.
[9] Government Regulation No. 28 of 1977 concerning Ownership Rights.
[10] Government Regulation No. 42 of 2006 concerning Waqf.
[11] Harahap, S. (2011). Prospek Wakaf Uang di Indonesia. Al-Awqaf Jurnal Wakaf dan Ekonomi Islam Volume IV, Nomor 04, 88-98.
[12] Haron, M., Kamarudin, M. K., Fauzi, N. A., Ariff, M. M., & Zainuddin, M. Z. (2016). Cash Waqf Collection: Any Potential factors To Influence It?. International Journal of Business, Economics and Law, Vol. 9, Issue 2, 27- 33.
[13] Hasim, K., Lubis, D., Ali, K. M. (2016). Analysis of Factors Affecting The Level of Cash Waqf Raising in Indonesia (Analytical Network Process Approach). Jurnal AlMuzara’ah, 4(2), 127-141.
[14] Haura, A., Baga, L. M., Tanjung, H. (2016). Analisys of Cash Waqf Management on Sharia Financial Service Cooperation (Analytical Network Process Approach). Jurnal Al-Muzara’ah, 3(1), 89-105.
[15] Hosen, M.N. (2016). Problem and challenges of awqaf management in Indonesia. Indonesia Islamic Finance Report: Prospects for Exponential Growth. Jedah: Islamic Research and Training Institute – IRTI.
[16] Karim S. A. (2007). Contemporary Waqf Administration and Development in Singapore. The Singapore International Waqf Conference. Singapore: SGN, 1-16.
[17] Karim, S. A. (2008). Waqf in Singapore – Contemporary management and development of waqf, contributing to the religious, social and economic development of minority muslims in Singapore. Paper presented at International Conference on Waqf and Islamic Civilization, Isfahan, Iran.
[18] Karim, S. B. A. (2010a). Contemporary shari’a compliance structuring for the development and management of waqf assets in Singapore. Kyoto Bulletin of Islamic Area Studies, Vol. 3-2 (March), pp. 143–164
[19] Karim, S. B. A. (2010b), Contemporary shari’ah structuring for the development and management of waqf assets in Singapore, Durham E-Theses, Durham University, Available at Durham E-Theses. Online: http://etheses.dur.ac.uk/778/
[20] Law No. 5 of 1960 concerning Agrarian Principles.
[21] Law No. 41 of 2004 concerning Waqf.
[22] Marzuki, P. M. (2017). Penelitian Hukum. Jakarta: Kencana Prenada Media Grup.
[23] Ministry of Religion of the Republic of Indonesia. Panduan Pemberdayaan Tanah Wakaf Produktif Strategis. (2013). Jakarta: Direktorat Pemberdayaan Wakaf.
[24] Mohsin, I. M. (2013). Financing Through Cash-Waqf: A Revitalization to Finance Different Needs. Emerald Insight, pp. 304-321
[25] Nizar, M. A. (2017). Pengembangan Waqf Produktif di Indonesia: Potensi dan Permasalahan. In B. K. Fiskal, Penguatan Fundamental Sektor Keuangan dalam Mendukung Stabilitas Perekonomian (pp. 1-76). Jakarta, Indonesia: Nagakusuma Media Kreatif. Retrieved from https://www.researchgate.net/publication/321027632.
[26] Rozalinda. (2015). Manajemen Waqf Produktf. Jakarta: Raja Grafndo Persada.
[27] Rusydiana, A. S., & Devi, A. (2018). Elaborating Cash Waqf Development In Indonesia Using Analytic Network Process. International Journal of Islamic Business and Economics, 2(1), 1-14.
[28] Rusydiana, A. S., & Devi, A. (2014). Analysis of Cash Waqf Fund Management In Indonesia: An Analytic Network Process (ANP) Method Approach. ASEAN International Conference on Islamic Finance (AICIF), 1-20.
[29] Sabit, M.T., Iman, A.H.M., & Omar, I. (2005). An ideal fnancial mechanism for the development of the waqf properties in Malaysia. Pusat Pengurusan Penyelidikan. Malaysia: Universiti Teknologi Malaysia.
[30] Salarzehi, H., Armesh, H., & Nikbin, D. (2010). Waqf as a social entrepreneurship model in Islam. International Journal of Business and Management. 5 (7), 179–186
[31] Sugiyono. (2013). Metode Penelitian Kuantitatif, Kualitatif dan R&D. Bandung: Alfabeta.
[32] Thaker, M.A.B.M.T., Mohammed, M.O., Duasa, J., & Abdullah, M.A. (2016). Developing cash Waqf model as an alternative source of financing for micro enterprises in Malaysia. Emerald Insight Journal Islamic Accounting Business. Res. 7 (4), 254–267.
[33] Waqf Information System Ministry of Religion RI. (2018). Data Tanah Waqf. Retrieved September 27, 2018, from Sistem Informasi Waqf Kementrian Agama Republik Indonesia: http://siwak.kemenag.go.id/
[34] Wulandari, P., Kassim, S., Sulung, L.A., & Putri, N.I.S., (2016). Unique aspects of Islamic microfinance financing process: experience of Baitul Maal Wa Tamwil in Indonesia. Emerald Insight Humanomics, 32 (3), 230–247.
[35] Zain, Z. M., Noor, A. H. M., Ramlan, A. N. M. (2017). Enhancing Waqf Awareness Among Malaysian Muslim Youths: An Application of Utauton Digital Game. 5th South East Asia International Islamic Philanthropy Conference 2017 (p. 127). Melaka: Universiti Teknologi MARA.