Status Wakaf Saham pada Emiten yang Keluar dari Daftar Efek Syariah (DES)

Abstract

Wakaf merupakan salah satu instrumen untuk mengurangi kemiskinan yang bertujuan untuk keadilan sosial ekonomi. Konversi saham syariah menjadi wakaf untuk keperluan produktif atau sosial. Saham syariah memiliki kriteria tertentu yang diatur dalam peraturan otoritas jasa keuangan (POJK), dan diklasifikasikan dalam daftar efek syariah (DES). Emiten yang tercantum dalam daftar efek syariah (DES) dan mengeluarkan wakaf saham atau pun dividen kepada nadzir atau lembaga yang mengelola wakaf. Sebagai bentuk kontribusi untuk kemajuan ekonomi umat. Namun dalam pelaksanaannya banyak wakaf saham yang diterima dari emiten yang sudah keluar dari daftar efek syariah (DES), sehingga banyak wakaf saham yang masih belum jelas statusnya karena waqif (emiten) sudah tidak masuk kriteria saham syariah. Hasil dari penelitian tersebut, peneliti menyimpulkan: pertama, pelaksanaan wakaf saham di Tabung Wakaf Indonesia (TWI) sudah sesuai dengan kriteria syariah dan juga telah terdaftar di Badan Wakaf Indonesi (BWI). Akan tetapi, masih adanya perusahaan (emiten) yang tidak sesuai dengan kriteria syariah yang telah mewakafkan sahamnya; kedua, terdapat emiten yang telah mewakafkan sahamnya, namun belum sesuai dengan kriteria daftar efek syariah (DES); ketiga, pelaksanaan wakaf saham telah sesuai dengan UU No. 41 tahun 2004, namun belum diatur secara spesifik terkait dengan wakaf saham. Berdasarkan kesimpulan tersebut, peneliti memperoleh temuan bahwa adanya wakaf saham dari emiten yang tidak sesuai dengan kriteria syariah disebabkan karena belum adanya ketentuan khusus yang mengatur wakaf saham, sehingga dalam pelaksanaannya berjalan tanpa aturan yang spesifk. Peneliti menyarankan hendaknya pemerintah dan Badan Wakaf Indonesia segera membuat Undang-undang dan peraturan tentang wakaf saham dan standar operasional prosedurnya agar wakaf saham berjalan semestinya dan mampu memberikan manfaat bagi kemajuan ekonomi umat.
 Kata kunci : peraturan otoritas jasa keuangan, daftar efek syariah, tabung wakaf indonesia, badan wakaf indonesia, emiten.

The Potential of Stock Endowment in Indonesia as an Instrument for Islamic Economic Development

“…Sharia-compliant stocks possess several advantages, and many individuals have started reaping profits from these sharia-compliant equities (Burhanudin, 2020). Sharia equities are used as investment vehicles by capital market investors who prioritize sharia standards.…”

“…The concept of waqf involves the transfer of ownership of assets for the common good, with the aim of benefiting the less fortunate, enhancing education, and strengthening the economic foundation of society. This paper aims to elucidate the concept of waqf, depict its implementation in various forms, and analyze its impact on social and economic development (Burhanudin, 2020).…”

Share Waqf: Economic Growth and Poverty Alleviation in Indonesia

“…The implementation of stock waqf is taken from the profits of stock dividends, namely the first party (investor) stating the share waqf pledge will hand over the profits from the dividend distribution or the profit from the sale of the difference in share prices to Nazir (as the waqf asset manager) (Fuadi, 2018). Waqf assets that have been handed over to Nazir will be managed and distributed to sharia mutual funds, Sukuk, deposits, shares, and SBSN products to obtain profit-sharing margin income (Burhanudin, 2020).…”

“…§ Investors will waqf the proceeds from dividend profits to the share waqf manager (Selasi & Muzayyanah, 2020). Then, the stock waqf manager will distribute waqf funds in Islamic capital market instruments (sharia shares, sharia mutual funds, Sukuk, deposits, SBSN, and others) (Maulida et al, 2022) after getting profit sharing will be distributed to 8 asnaf in economic activities, education, health, and infrastructure (Burhanudin, 2020).…”

“…With share waqf, investors can invest as well as do social activities (Hanna, 2015). The management of share waqf carried out by Nazir is as follows: § Nazir will record the entry and exit of shares in waqf by the investor in the form of shares or the form of dividends (Oktarina, 2018), § Nazir will distribute stock waqf funds in the form of funds distributed to sharia stock products, sharia mutual funds, Sukuk, deposits, SBSN, and others in the long term and the short term (Burhanudin, 2020), § Nazir will oversee the capital market products he already owns so that he has the power to sell or buy capital market products that can generate sales profits or dividends (profit sharing) (Purbo Raharjo & Islam Negeri Sunan Ampel Surabaya, 2022), § Nazir will distribute dividend profits or sales profits from capital market assets in economic activities, education, health, and infrastructure to be able to encourage regional economic growth and reduce poverty and unemployment (Islam, 2022), § Nazir is entitled to a reward for managing share waqf assets in the amount of 5% to 10% of the profits from the management of share waqf (Musthofa, 2020). Based on the background explanation above, this research describes the collection and distribution of share waqf funds managed by Nazhir through capital market products.…”