A Proposed Integrated Temporary Cash Waqf and Salam for Agri-Financing for Rice Farmers in Indonesia

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Author: Mahadi Ahmad
Year: 2018

Related Event : Global Conference on Islamic Economics and Finance 2018
Date : 24th October 2018
Venue : Kuala Lumpur, Malaysia
Year : 2018

MAHADI AHMAD
International Shariah Research Academy for Islamic Finance
mahadi@isra.my
 
ABSTRACT
 
Thestudy posits ‘back-to-salam based temporary cash waqf model’ through an instrument toenable Indonesian Waqf Board (BWI) and Indonesian Waqf Funds (TWI) viable for this role.The  paper  employs  qualitative  research  methodology  using  literature  study  to  derive  properpedigree.  It  is  against  this  reason  the  paper  undertakes  a  theoretical  study  of  the  modelthrough the study of the fiqhi and Sharīʿah issues on it. Major findings of the paper show thatthe  model  will  enable  BWI  and  TWI  collectively,  a  viable  source  of  agri-financing,  jobscreation,  wealth  circulation  and  alternative  to  riba  yielding  loan  in  Indonesia  as  well  asboosting  its  agricultural  productivities.  The  model,  apart  from  its  agri-financing  and  wealthcirculation, it is also a credit enhancement for cash waqf fund raising, to motivate the donorsthrough  the  profitability  of  the  salam  stage.  The  previous  studies  have  not  explored  thismodel as an instrument to propel potential donors.
 
Type of Paper:Research Paper
 
Keywords:   Badan   Wakaf   Indonesia,   Tabung   Waqf   Indonesia,   back-to-salam   based temporary cash waqf, agri-financing.

 

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