A pesantren (Islamic boarding school) as an Islamic educational institution basedon self-financing system has implemented waqf as a pillar of its development andbecome a potential waqf asset development. The productive waqf is considered asa key instrument for providing funds to actualizing its educational program. Sinceboth productive waqf and pesantren emphasize sustainability, and since productivewaqf can assist to support the process of education in pesantren, the study aims toinvestigate an integrated Islamic social and commercial economy model applicable inpesantren. This will ensure utilization of the combined resources of productive waqfand pesantren in promoting pesantren welfare. The study focuses on 263 operationalchief, assatidz or teacher, musyrif, musyrifah or santri companion and santri or studentsin Pesantren in Java and Sumatra using. Structural Equation Modeling (SEM) adoptedto examine the relationship among the five constructs i.e., productive waqf, businessunit, project financing, human resource and pesantren welfare. While the reliabilityand validity are established, the structural relationship between the constructs revealsthat the integrated model has a strong relationship with the pesantren welfare inmany ways. In relation with business unit and profitable commercial activities, humanresources have its significant role to assist pesantren tries its level best to realizedeveloped productive waqf. Specifically, the result shows all five constructs havesignificant impact in promoting pesantren welfare, which suggests that the model aswell as the instrument should be further implemented in pesantren.
Purpose This study aims to develop cash waqf models for Baitul Maal wat Tamwil (BMT), a special Islamic microfinance institution in Indonesia, combining Islamic social finance in Baitul Maal (house of wealth) division and Islamic commercial finance in Baitut Tamwil (house of asset development) division, as integrated Islamic social and commercial microfinance in Indonesia, to achieve triple bottom-line, including outreach, sustainability and welfare impact. Design/methodology/approach This study uses Delphi and analytic network process methods, with three groups of relevant respondents, including experts (academic), BMT practitioners and regulators. Findings The results show that the best cash waqf model for BMT is “BMT as Nazir (waqf manager) and also as cash waqf receiver Lembaga Keuangan Syariah Penerima Wakaf Uang (LKSPWU)”, followed by “BMT Association as representative Nazir of several certified BMTs”. Moreover, “long-term investment deposit” is the best to account cash waqf in the BMT balance sheet. With regard to financing, the most preferred one is “financing to regular Micro and Small Enterprises” of BMT members. Research limitations/implications Having allowed BMT to be Nazir (waqf manager), this research might only benefit Indonesian policymakers, such as the Financial Services Authority and the Ministry of Cooperatives, BMTs and the National Waqf Board. But it may also benefit other countries which have similar characteristics. Practical implications BMTs could adopt several alternatives of best models in managing cash waqf most appropriate for their specific conditions. Social implications The management of cash waqf by BMT could help the social activities of the Baitul Maal through social cash waqf and, indirectly, by productive cash waqf. Originality/value Studies have been limited, and to the best of the authors’ knowledge, there is no specific study discussing the integrated cash waqf model, cash waqf account and cash waqf investment appropriate for BMT.
The case of waste from durian rind in Ngrogung, Ngebel, Ponorogo, Indonesia increased significantly per year. Agglomerations and decomposition of durian rind surrounding agro park caused air pollution and bad view in park areas. The decomposition of durian rind is very important to reduce those impacts. The micro composter model in Kampung Durian consisted of three main components. The first component was drying area with cemented ground. The drying area was set to accommodate 1 t fresh durian rind per day. The materials come from surrounding areas of agro park. The second was a machine house with one ton material capacity per day. The third was a composter house consisted of composter tube and packing area. The result of the micro composter house showed a cleaning agglomeration of durian rind from Ngebel lake and surrounding areas. In addition, the model produced liquid organic fertilizer and compost. A cycle of composting was 30 d in the dry season. Amount 1 t of durian rind decomposition resulted of 100 L liquid organic fertilizers and 50 kg compost. The result of composter had a direct impact to control waste problems in Ngebel and surrounding areas.
Indonesia had a vast number of micro, and small enterprises and only a few larger enterprises, more than 90 per cent of firms were micro-sized enterprises (MEs). Empirical evidence suggested that most of them stagnated and never graduated into the segment of the medium even small-size enterprises, only a small minority of them graduated to the next size category. This research referred to this group as upgrades. It raised the question as to which factors determined the upgrading of MEs into higher scale. The target population of this study was MEs which graduated to small enterprise, operating in different lines of business. The sample size of this study was 209 enterprises. Responses of the subjects were collected through questionnaires. Structural Equation Model (SEM) was used for analysis. As a result, the main factors determined the upgrading of MEs was shaped by internal (i.e. financial literacy, operational training, accessibility to a financial institution) as well as external (i.e. policy, social environment, challenge) factors. SEM results showed that financial literacy and operational training were the most critical determinant to upgrade the scale level of MEs. Meanwhile, lack of accessibility to the financial institution could not stop them from surviving, since they financed by their capital. External factors also contributed significantly to the upgrading of MEs. Eventually, the research provided policy recommendations not only specific to develop microenterprise, but should further upgrade the size of micro size enterprises in operation, management and policy.
Purpose This study aims to devise policies in implementing cash waqf system of Baitul Maal wat Tamwil (BMT) in Indonesia, enabling the BMT to optimize its commercial and social activities to better achieve outreach, sustainability and welfare impact. Design/methodology/approach This study uses the strategic assumption surfacing and testing (SAST) method, with three groups of knowledgeable respondents, including expert, BMT practitioner and regulator to formulate important and certain policies. Findings The results show that four types of policies are required to improve cash waqf system of BMT, including 12 internal strategic policies, 15 internal operational policies, 15 external strategic policies and 9 external operational policies, which were found to be within a “certain planning region.” All of these policies have been agreed significantly by each group of respondents, as well as by all respondents combined. The most important-certain policies include Shiddiq, Amanah and professional Nazir, inculcate Islamic values to BMT employees and members, standard operating procedure and standard operating management of cash waqf management, technical assistance for Nazir to manage cash waqf and IT systems for BMT-cash waqf administration. Research limitations/implications The qualitative method used has its limitations, which could be improved by incorporating other methods. Moreover, the case and respondents are all Indonesian, so that the results are possibly only applicable to BMTs in Indonesia. Practical implications BMTs could adopt these policies in implementing their cash waqf management optimally. Social implications The management of cash waqf by BMT could help improve the social activities of the Baitul Maal directly from social cash waqf and indirectly from productive cash waqf. Originality/value To the best of the authors’ knowledge, this is the first study using SAST method to determine policies needed by the BMT to upgrade its cash waqf management producing more social programs for the society.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.