Analysis of Cash Waqf Distribution as a Micro Business Capital for MSMEs
Main Article Content
Abstract
The purpose of this research is to find out how the distribution of cash waqf funds as business capital is carried out by the Aksi Cepat Tanggap (ACT) Foundation for the development of Micro, Small, and Medium Enterprises (MSMEs), which have been affected by the pandemic in Solo City. Data analysis in this study used triangulation techniques. Triangulation is a data collection technique combining various data collection techniques and existing data sources. The results of this study concluded that the Aksi Cepat Tanggap (ACT) Foundation distributed Micro Business Capital Waqf (WMUM) assistance funds to 8 micro business actors in Bibis Baru Village, Nusukan Subdistrict, Banjarsari District, Surakarta. The impact of distributing business capital financing to 8 business actors affected by the pandemic has benefited recipients of the Micro Business Capital Waqf (WMUM) assistance. The benefit most felt by business actors is that additional business capital is obtained with easy terms and can indirectly increase income so that businesses that have been initiated for a long time or have just started to open can still survive amid the COVID-19 pandemic.
Article Details
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
License
You are free to:
- Share — copy and redistribute the material in any medium or format.
- Adapt — remix, transform, and build upon the material for any purpose, even commercially.
The licensor cannot revoke these freedoms as long as you follow the license terms.
Under the following terms:
- Attribution — You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
- ShareAlike — If you remix, transform, or build upon the material, you must distribute your contributions under the same license as the original.
- No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
References
Aderemi, A. M. R. (2020). Crowdfunding as an alternative mode of financing micro and small enterprises: A proposed Qard-al-Hasan contract. International Journal of Islamic Economics and Finance, 3(2), 95-118. https://doi.org/10.18196/ijief.3235
Ahmad, M. (2015). Cash waqf: Historical evolution, nature, and role as an alternative to riba-based financing for the grass root. Journal of Islamic Finance, 4(1), 63-74. https://doi.org/10.12816/0024801
Arif, S. (2010). Wakaf tunai sebagai alternatif mekanisme redistribusi keuangan Islam. Jurnal Ekonomi Islam, 4(1), 85-115. https://doi.org/10.20885/lariba.vol4.iss1.art6
Asnaini, A. (2018). Analisis pengembangan UMKM berbasis wakaf uang di Kota Bengkulu. Jurnal Baabu Al-Ilmi: Ekonomi dan Perbankan Syariah, 3(1), 1-14. https://doi.org/10.29300/ba.v3i1.1473
Balqis, W. G., & Sartono, T. (2019). Bank wakaf mikro sebagai sarana pemberdayaan pada usaha mikro, kecil dan menengah. Jurisdictie, 10(2), 215-231. https://doi.org/10.18860/j.v10i2.7380
Bangsawan, M. I. (2017). Eksistensi ekonomi Islam (Studi tentang perkembangan perbankan syariah di Indonesia). Law and Justice, 2(1), 24-34. https://doi.org/10.23917/laj.v2i1.4334
Budiman, M. A. (2014). The significance of waqf for economic development. Jurnal Equilibrium, 2(1), 19-34.
Cantika, S. B. (2015). Optimalisasi peran wakaf dalam pemberdayaan usaha mikro, kecil dan menengah (UMKM). Journal of Innovation in Business and Economics, 6(1), 1-16. https://doi.org/10.22219/JIBE.Vol6.No1.1-16
Duasa, J., & Thaker, M. (2016). A cash waqf investment model: An alternative model for financing micro-enterprises in Malaysia. Journal of Islamic Monetary Economics and Finance, 1(2), 161-188. https://doi.org/10.21098/jimf.v1i2.533
Fajariah, A. P., Sudana, S., & Rusydiana, A. (2020). Wakaf uang untuk optimalisasi pembiayaan usaha mikro kecil dan menengah (UMKM) melalui koperasi syariah di Indonesia. Journal of Theory and Applied Management, 13(1), 1-15. https://doi.org/10.20473/jmtt.v13i1.14399
Faujiah, A. (2018). Bank wakaf mikro dan pengaruhnya terhadap inklusi keuangan pelaku usaha kecil dan mikro (UKM), presented at 2nd Proceedings of Annual Conference for Muslim Scholars, Surabaya, 21-22 April 2018.
Gustani, & Ernawan, D. A. (2016). Wakaf tunai sebagai sumber alternatif permodalan lembaga keuangan mikro syariah di Indonesia. Journal of Islamic Economics Lariba, 2(2), 39-48.
Haq, A. F. (2012). Wakaf kontemporer dari teori ke aplikasi. Jurnal Maliyah, 2(2), n.pg.
Haron, M., Kamarudin, M. K., Fauzi, N. A., Ariff, M. M., & Zainuddin, M. Z. (2016). Cash waqf collection: Any potential factors to influence it. International Journal of Business, Economics and Law, 9(2), 27-33.
Hasanah, U. (2011). Cash waqf and people economic empowerment in Indonesia. Ekonomi Dan Keuangan Indonesia, 59(2), 215-232. https://doi.org/10.7454/efi.v59i2.64
Hazami, B. (2016). Peran dan aplikasi wakaf dalam mewujudkan kesejahteraan umat di Indonesia. Jurnal Studi Keislaman, 16(1), 173-204.
Iskandar, F. I. (2019). Fundraising strategy of cash waqf in Pondok Modern Tazakka in 2019. Journal of Islamic Economics and Philanthropy, 2(04), 541-569. https://doi.org/10.21111/jiep.v2i04.4311
Islam, M. M. (2015). Cash-waqf: New financial instrument for SMEs development in Bangladesh. World Vision Research Journal, 9(1), 111-120.
Jamal, M., Arroisi, J., & Agustin, N. P. (2020). Implementasi pendistribusian wakaf tunai sebagai penunjang usaha kecil menengah di Badan Wakaf Uang & Badan Wakaf Tunai MUI Yogyakarta. Ulul Albab: Jurnal Studi dan Penelitian Hukum Islam, 3(1), 49-66. https://doi.org/10.30659/jua.v3i1.7554
Kasi, S. M., Malik, N., & Ahmed, J. (2019). Cash waqf model for skill development and empowering small businesses. Journal of Education & Humanities Research, 8(2), 1-12.
Khusaeri, K. (2015). Wakaf produktif. Al-A'raf: Jurnal Pemikiran Islam dan Filsafat, 12(1), 77-95. https://doi.org/10.22515/ajpif.v12i1.1185
Kurniawati, D., & Yuliando, H. (2015). Productivity improvement of small scale medium enterprises (SMEs) on food products: Case at Yogyakarta Province, Indonesia. Agriculture and Agricultural Science Procedia, 3, 189-194. https://doi.org/10.1016/j.aaspro.2015.01.037
Lahsasna, A. (2010). The role of cash waqf in financing micro and medium sized enterprises (MMEs), presented at Seventh International Conference-The Tawhidi Epistemology: Zakat and Waqf Economy, Bangi, 6-7 January 2010.
Mohd Thas Thaker, M.A.B. (2018). A qualitative inquiry into cash waqf model as a source of financing for micro enterprises. ISRA International Journal of Islamic Finance, 10(1), 19-35. https://doi.org/10.1108/IJIF-07-2017-0013
Mohd Thas Thaker, M.A.B., Mohammed, M.O., Duasa, J., & Abdullah, M.A. (2016). Developing cash waqf model as an alternative source of financing for micro enterprises in Malaysia. Journal of Islamic Accounting and Business Research, 7(4), 254-267. https://doi.org/10.1108/JIABR-09-2014-0029
Mohsin, M. I. A. (2013). Financing through cash-waqf: A revitalization to finance different needs. International Journal of Islamic and Middle Eastern Finance and Management, 6(4), 304-321. https://doi.org/10.1108/IMEFM-08-2013-0094
Putra, A. H. (2016). Peran UMKM dalam pembangunan dan kesejahteraan masyarakat Kabupaten Blora. Jurnal Analisa Sosiologi, 5(2), 40-52. https://doi.org/10.20961/jas.v5i2.18162
Rahmawaty, A. (2013). Distribusi dalam ekonomi Islam upaya pemerataan kesejahteraan melalui keadilan distributif. Equilibrium, 1(1), 1-17.
Ridwan, M. (2018). Wakaf dan pembangunan ekonomi. ZISWAF: Jurnal Zakat dan Wakaf, 4(1), 105-124. https://doi.org/10.21043/ziswaf.v4i1.3034
Rozalinda, M. (2015). Manajemen wakaf produktif. Jakarta: Rajawali Pers.
Sarfiah, S. N., Atmaja, H. E., & Verawati, D. M. (2019). UMKM sebagai pilar membangun ekonomi bangsa. Jurnal Riset Ekonomi Pembangunan, 4(2), 137-146. https://doi.org/10.31002/rep.v4i2.1952
Satrio, M. A. (2015). Qardhul Hasan sebagai wujud pelaksanaan CSR dan kegiatan filantropi lembaga keuangan syariah untuk pemberdayaan masyarakat. Kajian Bisnis Sekolah Tinggi Ilmu Ekonomi Widya Wiwaha, 23(2), 104-111. https://doi.org/10.32477/jkb.v23i2.207
Setiaji, K., & Fatuniah, A. L. (2018). Pengaruh modal, lama usaha dan lokasi terhadap pendapatan pedagang pasar pasca relokasi. Jurnal Pendidikan Ekonomi Dan Bisnis, 6(1), 1-14. https://doi.org/10.21009/JPEB.006.1.1
Setyawati, I. (2018). Peran usaha mikro kecil menengah (UMKM) dalam perekonomian nasional. Jurnal Widya Ekonomi, (288), 24-28. https://doi.org/10.31227/osf.io/7qkj6
Suganda, A. D. (2014). Konsep wakaf tunai. Islamiconomic: Jurnal Ekonomi Islam, 5(2), 1-15. https://doi.org/10.32678/ijei.v5i2.25
Sugiyono. (2017). Metode penelitian kualitatif: Untuk penelitian yang bersifat eksploratif, enterpretif, interaktif dan konstruktif. Bandung: Alfabeta.
Syafiq, A. (2016). Wakaf tunai untuk pemberdayaan usaha kecil. ZISWAF: Jurnal Zakat dan Wakaf, 1(2), 1-25.
Tambunan, T. T. (2011). Development of micro, small and medium enterprises and their constraints: A story from Indonesia. Gadjah Mada International Journal of Business, 13(1), 21-43. https://doi.org/10.22146/gamaijb.5492
Zulfa, M., & Arif, M. (2020). Potensi wakaf tunai dalam mendorong pengembangan UMKM di Kota Pekanbaru. Jurnal Tabarru': Islamic Banking and Finance, 3(2), 173-184. https://doi.org/10.25299/jtb.2020.vol3(2).5758