International Shariah Research Academy for Islamic Finance
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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