Structuring Model for Corporate Productive Cash-Waqf in Indonesia (A Case Study for PT. Semen Indonesia)

  • Bambang Tutuko Research Centre, Universitas Internasional Semen Indonesia
  • Ahmad Hudaifah Universitas Internasional Semen Indonesia
  • Andi Zulfakar D. Universitas Internasional Semen Indonesia

Abstract

The development of Waqf in Indonesia has attracted plenty discussion about the third sector economy model (voluntarily sector) and it’s potential to overcome social economic problems. Semen Indonesia is a giant multi-national state-owned company with various programs of community service that could potentially adopt the concept of cash Waqf as an innovative support for financing socio economic programs for the benefit of the surrounding society. The study has utilized qualitative data by analyzing important and relevant secondary data, direct observation of Semen Indonesia Group, and conducting interviews with key informants. The productive cash Waqf model has been recently developed for corporate Waqf equipped with information technology systems like E-Waqf applications to encourage Semen Indonesia’s big community to donate to the cash Waqf program. The fund accumulation is managed in profitable investment around Semen Indonesia and society environment. The financial and managerial system of Semen Indonesia Company and holding is possibly adopting the productive cash Waqf concept when managed properly and transparently.
 
Keywords: 

Author Biographies

Ahmad Hudaifah, Universitas Internasional Semen Indonesia
Department of Islamic Economics
Andi Zulfakar D., Universitas Internasional Semen Indonesia
Department of Islamic Economics

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Published
2017-12-31
How to Cite
TUTUKO, Bambang; HUDAIFAH, Ahmad; D., Andi Zulfakar. Structuring Model for Corporate Productive Cash-Waqf in Indonesia (A Case Study for PT. Semen Indonesia). Journal of Islamic Finance, [S.l.], v. 6, p. 163-173, dec. 2017. ISSN 2289-2117. Available at: <http://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/264>. Date accessed: 19 jan. 2018.
Section
Articles