None Khamim, None Asyharul Muala, None Muhammad Lutfi Hakim
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引用次数: 0
Abstract
This article aims to study Indonesia’s experience in issuing Cash Waqf Linked Sukuk (CWLS), the schemes and legality which are meant for Islamic social welfare improvement, and CWLS’ contribution to the national development. It is the development of a conceptual paper that explores and carefully reviews regulations, relevant literature studies, reports, and official documents published on the internet. The findings showed that Indonesia has successfully formulated and issued two instruments for integrating cash waqf with the State Sukuk: the CWLS and Retail CWLS. These instruments involve six state institutions and eight central socio-religious institutions that act as formulation, implementation, and supervision. Both instruments are not only beneficial for Islamic social welfare, but they also contribute to the national development. The authors argue that the innovation of Islamic financial instruments can empower the Islamic social welfare and contribute to the national development. It contributes to the discourse on cash waqf innovations in State Sukuk which studies Indonesia’s experiences. This evidence from Indonesia can be adopted and applied by other countries that have fiscal limitations for the empowerment of Islamic social welfare, and at the same time contribute to the national development.
期刊介绍:
Global Journal Al-Thaqafah (GJAT) is a biannual journal, published by Universiti Sultan Azlan Shah (USAS), Perak, MALAYSIA. This journal is purely academic and peer reviewed. It caters to articles, research notes and reports, and book reviews on diverse topics relating to Islam and the Muslims. This journal is intended to provide an avenue for researchers and academics from all persuasions and traditions to share and discuss differing views, new ideas, theories, research outcomes, and socio-cultural and socio-political issues that impact on and directly or indirectly affect the Muslim World with the sole purpose of making this world a better place to live in. GJAT started in 2011 and was later granted the SCOPUS status in March 2014. Since then, GJAT has published numerous articles and materials from international contributors. GJAT welcomes contributions from all: academics, experts, and professionals. All articles submitted must be original, academic, of high scholarly standard, and meet the strict SCOPUS requirements. GJAT prioritizes articles that discuss fundamental issues and are of global relevance and importance, and publishes all articles that fulfill the basic criteria without prejudice (kindly refer to "Submission and Guidelines"). All decisions by GJAT to publish any article are final.