Integrated Sukuk based Waqf in Pesantren: A Modified Model

Atika Rukminastiti Masrifah, Khoirul Umam, Setiawan Lahuri

2019

Abstract

Waqf and Sukuk are not seemingly equal things to compare, one is filled with a spiritual and social aspect, the other with a commercial aspect. But time proves that the development of Islamic economic concerns is complimentary not only to commercial issues but also to social issues. Besides, Pesantren is serious about empowering a potential business unit through waqf to enhance the economic development of Pesantren. The purpose of this study is to propose models of integrated Sukuk based waqf model in Pesantren using a qualitative approach, accompanied by scholars, academicians, and practitioners with surveys and focus groups discussion. The results show that Sukuk has an important role to play in supporting Pesantren's waqf quality. This type of Sukuk will generate a new source of fund for Pesantren based on the ijarah theory, which can generate own profit for primary pesantren projects. This model shows the way Pesantren maintains and develops waqf assets toward a self-financing waqf institution. Pesantren is responsible for both the primary and secondary projects through its two divisions: Pesantren Financing Corporation and Pesantren Production Corporation. Finally, as a conclusion, the author expects that this model would be an alternative model that could be more beneficial to Pesantren in need.

Paper Citation

in Harvard Style

Rukminastiti Masrifah A., Umam K. and Lahuri S. (2019). Integrated Sukuk based Waqf in Pesantren: A Modified Model. In Proceedings of the 7th ASEAN Universities International Conference on Islamic Finance - Volume 1: 7th AICIF, ISBN 978-989-758-473-2, pages 5-10. DOI: 10.5220/0009572500002898

in Bibtex Style

@conference{7th aicif19,
author={Atika Rukminastiti Masrifah and Khoirul Umam and Setiawan Lahuri},
title={Integrated Sukuk based Waqf in Pesantren: A Modified Model},
booktitle={Proceedings of the 7th ASEAN Universities International Conference on Islamic Finance - Volume 1: 7th AICIF,},
year={2019},
pages={5-10},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0009572500002898},
isbn={978-989-758-473-2},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 7th ASEAN Universities International Conference on Islamic Finance - Volume 1: 7th AICIF,
TI - Integrated Sukuk based Waqf in Pesantren: A Modified Model
SN - 978-989-758-473-2
AU - Rukminastiti Masrifah A.
AU - Umam K.
AU - Lahuri S.
PY - 2019
SP - 5
EP - 10
DO - 10.5220/0009572500002898