Open Journal Systems

THE SIGNIFICANCE OF WAQF FOR ECONOMIC DEVELOPMENT

Mochammad Arif Budiman

Abstract

Terdapat anggapan dari sejumlah ilmuan Barat yang menyatakan bahwa institusi wakaf tidak lagi memainkan fungsi ekonomi yang signifikan dalam konteks perekonomian modern sebagaimana pada masa-masa sebelumnya. Menurut mereka, wakaf pada masa kini justru muncul sebagai faktor yang menghambat pembangunan di negara-negara Muslim. Artikel ini dimaksudkan untuk membantah anggapan tersebut dengan menampilkan berbagai fungsi dan kontribusi ekonomi yang dapat diperankan wakaf dalam konteks perekonomian kontemporer. Selain itu, sejumlah prasyarat untuk lebih mengoptimalkan pengelolaan wakaf juga dikemukakan.

Kata kunci: wakaf, pembangunan ekonomi, distribusi pendapatan, kemiskinan, pembiayaan defisit

There is an opinion among Western scholars that the institution of waqf could not any longer perform its economic role in the present times. Instead of being a vital institution as it truly played at the pre-modern era, waqf nowadays seems to be an impediment to the development in Muslim countries. This paper therefore is meant to refute such an opinion and attempts to point out the economic impacts of waqf for Muslim society in the context of the present economy. In the last part, the paper also brings about several necessary prerequisites for the revitalization of waqf in the current days.

Keywords: waqf, economic development, income distribution, poverty, deficit financing

References


Ahmed, H. 2004. Role of zakah and awqaf in poverty alleviation. Occasional Paper, No. 8. Jeddah: IRTI/IDB.

Ahmed, H. 2007. Waqf-based microfinance: Realizing the social role of Islamic finance. Paper presented at the International Seminar on Integrating Awqaf in the Islamic Financial Sector, Singapore, March 6-7.

Alhabshi, S. O. 1991. Waqf management in Malaysia.

In Mohamed Ariff (ed.), The Islamic voluntary sector in Southeast Asia. Singapore: Institute of Southeast Asian Studies.

Alias, T. A. 2012. Venture capital strategies in waqf fund investment and spending. ISRA International Journal of Islamic Finance, Vol. 4(1), 99-126.

Baskan, B. 2002. Waqf system as a redistribution mechanism in Ottoman Empire. Northwestern University, Department of Political Science.

Bonner, M. 2005. Poverty and economics in the Qur’an.

Journal of Interdisciplinary History, Vol. 35(3), 391–406.

Chapra, M. U. 2008. Ibn Khaldun’s theory of

development: Does it help explain the low performance of the present-day Muslim world? The Journal of Socio-Economics, Vol. 37(2), 836-863.

Çizakça, M. 1998. Awqaf in history and its implications for modern Islamic economies. Islamic Economic Studies, Vol. 6(1), 437-463.

--------. 2000. A History of philanthropic foundations: The Islamic world from the seventh century to the present. Istanbul: Bogazici University Press.

Hassan, M. K. 2010. An integrated poverty alleviation model combining zakat, awqaf and micro-finance. Paper presented at the 7th International

Conference–The Tawhidi Epistemology: Zakat and Waqf Economy, Bangi, Malaysia.

Hasan, S. 2011. Role of waqf in enhancing Muslim small and medium enterprises (SMES) in Singapore. Paper presented at 8th International Conference on Islamic Economics and Finance, Qatar.

Islahi, A. A. 1996. Provision of public goods: Role of the voluntary sector (waqf) in Islamic history. In M. A. Mannan (Ed.), Financing development in Islam. Jeddah: IRTI-IDB, 367-391.

Kahf, M. Waqf of the Muslim community in the Western countries: A preliminary thoughts on reconciling the Shariah principles with the laws of the land.

--------. 1998. Financing the development of awqaf property. Paper prepared for the Seminar on Development of Awqaf organized by IRTI, Kuala Lumpur, Malaysia, March 2-4.

Karim, S. A. 2012. Contemporary investment and development of waqf assets in Singapore. Paper presented at International Islamic Capital Market Forum, Kuala Lumpur, Malaysia, September 20.

Kuran, T. 2004. Why the Middle East is economically underdeveloped: historical mechanisms of institutional stagnation. Journal of Economic Perspectives, Vol. 18(3), 71–90.

Lahsasna, A. 2010. The role of cash waqf in financing micro and medium sized enterprises (MMES): A new Islamic financial approach by using cash waqf model. Paper presented at 7th International Conference – The Tawhidi Epistemology: Zakat and Waqf Economy, Bangi, Malaysia .

Mohammad, M. T. S. H., Iman, A. H. M., & Omar, I. 2005. An ideal financial mechanism for the development of the waqf properties in Malaysia. Johor: Pusat Pengurusan Penyelidikan, Universiti Teknologi Malaysia.

Nik Hassan, N. M. 2008. The economics of awqaf institution. Paper presented at International Seminar on Waqf. Johor Bahru, August 11-12.

Obaidullah, M. & Khan, T. 2008. Islamic microfinance development: Challenges and initiatives. Jeddah: Islamic Development Bank.

Platteau, J. P. 2008. Religion, politics, and development: Lessons from the lands of Islam. Journal of Economic Behavior & Organization, Vol. 68, 329–351.

Rashid, S. K. 2011. certain legal and administrative measures for the revival and better management of awqaf. IRTI Working Paper Series No. 1432-02, 1-27.

Sabit, M. T. & Hamid, A. Obstacles of the current concept of waqf to the development of waqf properties and the recommended alternative, 27-38.

Sadeq, A. H. M. 2002. Waqf, perpetual charity and poverty alleviation. International Journal of Social Economics, Vol. 29(1/2), 135-151.

Saduman, S & Aysun, E.E. 2009. The socio-economic role of waqf system in the Muslim Ottoman cities’ formation and evolution. Trakia Journal of Sciences, Vol. 7(2), 272-275.

Siddiqi, M. N. 1996. Role of the state in the economy: An Islamic perspective. Leicester: The Islamic Foundation.

Tabakoglu, A. 1996. The role of finance in development: The Ottoman experience. In M.A. Mannan (ed.), Financing development in Islam. Jeddah: IRTI-IDB, 323-344.


Full Text: PDF (Bahasa Indonesia)

DOI: 10.21043/equilibrium.v2i1.718

How To Cite This :



Copyright (c) 2016 Equilibrium: Jurnal Ekonomi Syariah

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.