The Strategic Role Of Article 6 Of Law No 41 Of 2004 In The Management Of Term Waqf: A Progressive Review Of Islamic Economic Renewal
DOI:
https://doi.org/10.61978/legalis.v1i1.8Keywords:
term waqf, waqf law, Islamic EconomyAbstract
Waqf is a form of worship and is also one of the pillars of the Islamic economy which has the potential to improve community welfare and overcome the problem of poverty. One of the laws governing waqf in Indonesia is Law No. 41 of 2004. Futures Waqf is an innovation in modern Islamic economics, aligning Islamic economic principles with contemporary developments. This research provides an understanding of the evolution of Islamic economics and efforts to encourage the implementation of Islamic economic principles in ever-changing global dynamics. In this research the author uses a qualitative method with a normative juridical approach. This law is the basis that waqf can be forever and can also have a term. This is very different from what is regulated by Islamic waqf law which tends to be less directed towards economic empowerment of the people and is only used for religious activities such as building mosques, prayer rooms, schools and cemeteries. This evaluation provides an in-depth impact on how the effectiveness of this regulation can increase the economic benefits of Term Waqf, encourage sustainable economic growth, and support the achievement of sharia economic development goals in Indonesia.
References
Augustian.Productive Waqf for the Welfare of the People. Jakarta: Niriah, 2008.
Al-Alabij, Adijani.Land Endowments in Indonesia in Theory and Practice. Bandung: Rajawali Press, 1992.
Al-Dardir, Ahmad. “Syarah Al-Shagir.” In4. Mesir: Mutaba’ah Muhammad Al Sabih, 1985.
Al-Nasaburi, Abi al-Husaini Muslim bin al-Hujaj al-Qasyiri. “Shahi Muslim.” In5. Beirut: Dar al-Kutub al-‘Ilmiyah, 1998.
Dahlan, Zaini.Qur'an Karim and its meaning translation. Second, Cet. Yogyakarta: UII Press, 1999.
Department of Religion of the Republic of Indonesia.Waqf Fiqh. Jakarta: Directorate of Waqf Empowerment and Directorate General of Islamic Community Guidance, Ministry of Religion of the Republic of Indonesia, 2006.
Kalimah, Siti. "Cash Waqf as a Solution to Poverty Problems in Indonesia."SALIMIYA: Journal of Islamic Religious Studies Flight 1, no. 4 (2020). https://ejournal.iaifa.ac.id/index.php/salimiya.
Kasdi, Abdurrohman.Waqf Fiqh From Classical Waqf to Productive Waqf. Yogyakarta: Idea Press, 2017.
Mundzir Qahaf.Productive Waqf Management. 1st ed. Jakarta: Khalifa, 2004.
Praja, Juhaya S.Endowments in Indonesia. Bandung: Piara Foundation, 1997.
Qudamah, Muhammad Ibn. "Al-Mugnii Li Ibn Qudamah." In5. Riyadh: Maktabah aI-Ryad al-hadisah, n.d.
Qusthoniah, and Fiddian Khairudin. "History and Development of Waqf Legislation in Indonesia and Its Applications."Sharia Journal Flight 8, no. 1 (2020).
RI, Department of Religion.Guidelines for Waqf Management and Development. Jakarta: Directorate General of Islamic Community Guidance and Hajj Organization, Waqf Empowerment Improvement Project, 2004.
Rosalinda.Productive Waqf Management. Jakarta: Rajawali Press, 2015.
Said, Salmah, and Andi Muhammad Ali Amiruddin. "Cash Waqf And Community Economic Empowerment."Al-Mashrafiyah: Journal of Sharia Economics, Finance and Banking Vol 3, no. 1 (April 27, 2019): 43. https://doi.org/10.24252/al-mashrafiyah.v3i1.7739.
Sari, Devi Kurnia.Review of Land Endowments According to Law Number 41 of 2004 concerning Waqf in Semarang Regency. Semarang: Diponegoro University Postgraduate Program Thesis, 2006.
Sari, Elsa Kartika.Introduction to Zakat and Waqf Law. Jakarta: Grasindo, 2007.
Suhairi.Productive Waqf Builds Sleeping Giants. Lampung: Stain Jurai Siwo Metro Lampung, 2004.
Suparman Usman.Indonesian Waqf Law. Jakarta: Radar Jaya Offset, 1999.
Triwibowo, Ananto. "Application of Good Corporate Governance Principles in Cash Waqf Management at the MUI Yogyakarta Cash Waqf Agency."Carpet : Journal of Scientific Research 4, no. 1 (May 14, 2020): 123. https://doi.org/10.32332/tapis.v4i1.1995.
Single, Hadi Setia.Law Number 41 of 2004 concerning Waqf. Jakarta: Harvarindo, 2005.
Ab Rahman, M. F., & Amanullah, M. (2017). The nature of temporary waqf, its ruling and public interest. Global Journal Al-Thaqafah, 7(2), 175–1187. https://doi.org/10.7187/gjat122017-11
Abdullah, A., & Meera, A. K. M. (2018). Adopting Al-Hikr long term lease financing for WAQF and state lands in Malaysia to provide affordable public housing. Al-Shajarah, Special Issue: ISLAMIC BANKING AND FINANCE, 1–42. https://www.scopus.com/inward/record.uri?eid=2-s2.0-85060040055&partnerID=40&md5=a4bbbe510413ad9ea9510273bb6121f2
Abdullah, M. (2018). Waqf, Sustainable Development Goals (SDGs) and maqasid al-shariah. International Journal of Social Economics, 45(1), 158–172. https://doi.org/10.1108/IJSE-10-2016-0295
Benamraoui, A. (2021a). The World Economy and Islamic Economics in the Time of COVID-19. Journal of King Abdulaziz University, Islamic Economics, 34(1), 67–78. https://doi.org/10.4197/Islec.34-1.4
Benamraoui, A. (2021b). The World Economy and Islamic Economics in the Time of COVID-19. Journal of King Abdulaziz University, Islamic Economics, 34(1), 67–78. https://doi.org/10.4197/Islec.34-1.4
Bintarto, M. A. I., Setiawan, Y., Alqarni, M. U., & Hilmi, F. (2022). Zakah and Waqf for Cryptocurrency in Islamic Law. Al-Istinbath: Jurnal Hukum Islam, 7(1), 21–38. https://doi.org/10.29240/jhi.v7i1.4229
binti Raja Adnan, R. A., Mutalib Taib, M. A., & Ab. Aziz, M. R. (2020). Insights into the historical management of past waqf-based hospitals. Islamic Quarterly, 64(2), 213–240. https://www.scopus.com/inward/record.uri?eid=2-s2.0-85098709130&partnerID=40&md5=8cd0006710305541c4c6cca415ab9de1
Chachi, A. (2021). The World Economy and Islamic Economics in the Time of COVID-19: Few Remarks and Observations. Journal of King Abdulaziz University, Islamic Economics, 34(1), 125–131. https://doi.org/10.4197/Islec.34-1.9
Chokaev, B. (2015). Islamic finance: opportunities for the Russian economy. Voprosy Ekonomiki, 2015(6), 106–127. https://doi.org/10.32609/0042-8736-2015-6-106-127
Daly, S., & Frikha, M. (2016). Islamic Finance: Basic Principles and Contributions in Financing Economic. Journal of the Knowledge Economy, 7(2), 496–512. https://doi.org/10.1007/s13132-014-0222-7
Gani, I. M., & Bahari, Z. (2020). Islamic banking’s contribution to the Malaysian real economy. ISRA International Journal of Islamic Finance, 13(1), 6–25. https://doi.org/10.1108/IJIF-01-2019-0004
Guelida, B., el Aydouni, O., & Ziani, Z. (2022a). THE MOROCCAN WAQF AND THE COMMON-LAW TRUST: A COMPARATIVE STUDY. UUM Journal of Legal Studies, 13(1), 283–309. https://doi.org/10.32890/uumjls2022.13.1.12
Guelida, B., el Aydouni, O., & Ziani, Z. (2022b). THE MOROCCAN WAQF AND THE COMMON-LAW TRUST: A COMPARATIVE STUDY. UUM Journal of Legal Studies, 13(1), 283–309. https://doi.org/10.32890/uumjls2022.13.1.12
Hafandi, A., & Handayati, P. (2021). Is cash waqf linked sukuk (cwls) less than ideal according to islamic laws? Estudios de Economia Aplicada, 39(12). https://doi.org/10.25115/eea.v39i12.6207
Hakimah, A., Marom, R., Musyafah, A. A., & Budiman, A. A. (2022a). The Implementation of Land Waqf Law in Indonesia and Malaysia as a Stage to Land Waqf Law Reform in Indonesia: A Comparative Study. Law Reform: Jurnal Pembaharuan Hukum, 18(2), 164–183. https://doi.org/10.14710/lr.v18i2.46673
Hakimah, A., Marom, R., Musyafah, A. A., & Budiman, A. A. (2022b). The Implementation of Land Waqf Law in Indonesia and Malaysia as a Stage to Land Waqf Law Reform in Indonesia: A Comparative Study. Law Reform: Jurnal Pembaharuan Hukum, 18(2), 164–183. https://doi.org/10.14710/lr.v18i2.46673
Hammami, Y. (2020). Asset pricing in an Islamic economy. Applied Economics, 52(29), 3106–3122. https://doi.org/10.1080/00036846.2019.1706715
Hazna, C. A. (2021). Environmental WAQF Under Islamic Law and Indonesia’S National Laws (A Case Study Of Hutan Wakaf In ACEH). In Challenges of Law and Governance in Indonesia in the Disruptive Era II (pp. 129–147). https://www.scopus.com/inward/record.uri?eid=2-s2.0-85132463471&partnerID=40&md5=fab80a6269c5fc8bfffc610f6bcb37da
Jahar, A. S. (2019). Bureaucratizing sharia in modern Indonesia: The case of zakat, waqf and family law. Studia Islamika, 26(2), 207–245. https://doi.org/10.15408/sdi.v26i2.7797
Lita, H. N. (2018). The Construction of Commercial Building on Waqf Land Based on Indonesia Law. IOP Conference Series: Earth and Environmental Science, 175(1). https://doi.org/10.1088/1755-1315/175/1/012199
Mohammad, M. T. S. H. (2018). Maqaaid al-Shari’ah and Waqf: Their effect on Waqf law and economy. Intellectual Discourse, 26, 1065–1091. https://www.scopus.com/inward/record.uri?eid=2-s2.0-85062817072&partnerID=40&md5=0c94edc2ec106fc62c476716205899b2
Sari. (n.d.). Elsa Kartika.Introduction to Zakat and Waqf Law. Grasindo.
Sebyar, M. H., Harahap, P. H., & Man, Y. L. (2023). Copyright as a Waqf Object in the Context of Fiqh and Positive Law. Al-Istinbath: Jurnal Hukum Islam, 8(1), 269–290. https://doi.org/10.29240/jhi.v8i1.6696
Setia, A. (2018a). Reintegrating the Legal into the Social: Reviving Islamic Transactional Law in the Context of the Civil Economy, with Special Reference to Waqf. Law and Development Review, 11(1), 209–250. https://doi.org/10.1515/ldr-2017-0053
Setia, A. (2018b). Reintegrating the Legal into the Social: Reviving Islamic Transactional Law in the Context of the Civil Economy, with Special Reference to Waqf. Law and Development Review, 11(1), 209–250. https://doi.org/10.1515/ldr-2017-0053
Single. (n.d.). Hadi Setia.Law Number 41 of 2004 concerning Waqf. Harvarindo.
Suparman Usman.Indonesian Waqf Law. (n.d.). Radar Jaya Offset.
Tabash, M. I. (2018). Islamic financial investments and economic growth evidence from emerging economy, United Arab Emirates. International Journal of Economics and Business Research, 15(1), 125–139. https://doi.org/10.1504/IJEBR.2018.088510
Yasin, Y., Helmy, M. I., Ma’yuf, A., & Arwani, A. (2023a). Waqf and sustainable development law: models of waqf institutions in the Kingdom of Saudi Arabia and Indonesia. Ijtihad: Jurnal Wacana Hukum Islam Dan Kemanusiaan, 23(1), 93–114. https://doi.org/10.18326/IJTIHAD.V23I1.93-114
Yasin, Y., Helmy, M. I., Ma’yuf, A., & Arwani, A. (2023b). Waqf and sustainable development law: models of waqf institutions in the Kingdom of Saudi Arabia and Indonesia. Ijtihad: Jurnal Wacana Hukum Islam Dan Kemanusiaan, 23(1), 93–114. https://doi.org/10.18326/IJTIHAD.V23I1.93-114
