Financing Cooperation Agreement of Commercial Building Construction on Land Waqf: Legal Analysis based on Indonesia Law

Helza Nova Lita

2018

Abstract

The construction of commercial building on land waqf is one way of empowering waqf economically productive in Indonesia .To build commercial building on land waqf requires cooperation in the development and management. However, commercial building development on waqf land is not only related to economic aspects, but also how are the regulations to build it based Indonesian waqf Law? This article examines legally the cooperation of utilization and management of land waqf for commercial building construction. The method used is normative juridical which refers to the legislation, which is analyzed descriptive analytically. Based on article 5 of Indonesian waqf law, that waqf functions and realizes the economic potential of waqf property for the public interest and to promote general welfare. Based on the article 43 of Indonesian Waqf Law, the development of property waqf by Nazhir (the management of waqf) is implemented in accordance with sharia principles and is carried out economically productively. Some models to finance the construction of Commercial Building on Waqf Land based on Indonesian Waqf Law; financing by cash waqf, build transfer operation system, patrnership with other institute like Hajj Savings, and other forms of development as long as not contrary with sharia principles and laws in Indonesia. The need for partnership synergy especially with the business partners in the development of land waqf for commercial building construction, so waqf are strived not only intact, but also productive and growing, so the value and benefits are also increasing

Paper Citation

in Harvard Style

Lita H. (2018). Financing Cooperation Agreement of Commercial Building Construction on Land Waqf: Legal Analysis based on Indonesia Law.In Proceedings of the 1st International Conference on Recent Innovations - Volume 1: ICRI, ISBN 978-989-758-458-9, pages 179-186. DOI: 10.5220/0009921001790186

in Bibtex Style

@conference{icri18,
author={Helza Nova Lita},
title={Financing Cooperation Agreement of Commercial Building Construction on Land Waqf: Legal Analysis based on Indonesia Law},
booktitle={Proceedings of the 1st International Conference on Recent Innovations - Volume 1: ICRI,},
year={2018},
pages={179-186},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0009921001790186},
isbn={978-989-758-458-9},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 1st International Conference on Recent Innovations - Volume 1: ICRI,
TI - Financing Cooperation Agreement of Commercial Building Construction on Land Waqf: Legal Analysis based on Indonesia Law
SN - 978-989-758-458-9
AU - Lita H.
PY - 2018
SP - 179
EP - 186
DO - 10.5220/0009921001790186