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be distributed by IndonesiaAwqaf Institu- tion to the Sharia Financial Institution
2. Methodology
2.1 Research Design
In this study, the writers used descriptive qualitative,which the procedures can produce
descriptive data in the form of written words from the people and observed behavior, sup-
ported by literature studies or literature study based on the deepening study of literature in
the form of data, so that reality can be under- stood.
The qualitative research deals with data that are in the form of the words, rather than
number and statistics. The data collected are the subjects’ experiences and perspectives: the
qualitative research attempts to arrive at a rich description of people, objects, events, places,
conversations, etc. Aryet. Al, 2002:425
2.2 Data Source
The data in this paper is a type of sec- ondary data.Secondary data is data derived from
other than the object under study. This second- ary data was obtained from the thesis, papers,
articles, literature library, and the mass media.
2.3 Data Collection
To obtain the necessary data in this pa- per, the writers usedLibrary Studies method.
This method was done by studying several lit- eratures related to the problem under the
study.Some of this literature can be either printed or electronic sources, such as the data
of books, theses, papers, literature, magazines, bulletins, tabloids, newspapers and others.
2.4 Data Analysis
This paper used descriptive qualitative of data analysis techniques. The data wasobtained
and compiled in terms of the rules and analysis to facilitate the discussion of the problems that
exist. By this method, the writers would like to explicitly describe the phenomena of Lapindo
mud and potential awqaf of land and money.The process of data analysis in this pa-
per was conducted in several stages, including:
1. Data Collection Data collection was an early stage should
be done in a paper-making.Without a complete and valid data then a paper could not be said to
be scientific. In addition, without collecting data, data analysis cannot be completely done
because the data to be analyzed was not avail- able yet.
2. Data Processing From this data has been collected, then
the researchers analyzed the data carefully in order to obtain a result which is comprehen-
sive and representative.It will be beneficial for all sides. Because the data obtained was quite
simple, so it did not require statistical data pro- cessing. It is only requireddeep analysis and
understanding in order to obtain a sharp con- clusions and solutions as well.
3. Presentation of Data Data that has been processed maximally
by various processes sharp analysis. Then it is presented for the sides which take concern
on.Furthermore, since the data could be under- stood well, the researchers could take the con-
clusion completely.
3. Discussion
3.1 Law and Management of Productive Cash Awqaf
In language awqafor endowment means hold, moreover, hold the wealth and provide
benefits in the way of Allah
4
Endowments can
4
Muhaimin Iqbal, Dinar Solution Jakarta: Gema Insani, 2008.
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Seminar Nasional dan Call For Papers Ekonomi Syariah“Indonesia Sebagai Kiblat Ekonomi Syariah”
be reserved for children and grandchildren, kin- sfolk, and then after they are the needy. En-
dowments so called experts or awqaf endow- ments dzurri family.Another form is the
awqaf
endowments for sheer virtue called awqafkhairi
5
Endowments basically have beenin- troduced in Indonesia yetthe term ofmoney
endowment cash is still a new thing. Endow- ments are better known for this is simply the
form of endowments immovable, which can be land, wells, buildings such as masjids and
madrassas
.As mentioned earlier, that discus- sion is a discussion of the awqafmuamalah
dynamic aspect, which has continued to de- velop. So it is not an unusual thing if the terms
appear in the cash awqaf endowments devel- opment.
A cash awqaf funds or money collected by the institution managing the awqafNazhir
through the issuance of cash awqaf certificate purchased by the public. In another sense can
also be interpreted in cash awqaf donating prop- erty in the form of money or securities that are
managed by banking institutions or Islamic fi- nancial institutions whose profits will where-
withal, but capital cannot be reduced to char- ity, while the endowment funds collected can
then be rolled out and invested by Nazhir to in various business sectors are lawful and produc-
tive, so that the benefits can be utilized for the development of the people and the nation as a
whole
6
As government regulations governing the awqaf
PP28 of 1977 and Regulation of the Minister of Religion 1 Year 1978 on the Imple-
mentation Regulation Government Regulation No.28 Year 1977 on Land Owned. But in PP
28 Year 1977 regarding the awqaf land owned regulated specifically only owned land.In PP
28, 1977 are set out on the cash awqaf law in Indonesia have no problem, because the MUI
has declared a fatwa about the allowance of cash awqaf endowment cash.
7
Other regulation coming into force of their endowment money is Act No. 41 of 2003,
concerning awqaf money mentioned in the four chapters, namely Articles 28, 29, 30, 31, even
awqaf
money specifically set on the tenth of the Act by title “Endowments in Form of
Money”. The legal basis of cash awqaf endow-
ments equals to the basic laws of objects, namely the Qur’an, hadith, and ijma.Based on
the decision of the Commission fatwa Indone- sian UlamaFatwa Council MUI legal basis
arguments is derived from the Qur’an about money endowments awqaf an-nuquud in-
clude: 1. Do your virtue, so that you get a victory
Al-Hajj: 77. 2. You never get to virtue perfect before you
spend most of that which ye love.And whatever you spend, Allah knows Ali
Imran: 92.
3. Parable income incurred by those who spend their wealth in the way of God is
like a seed that grows seven grains, the grains grow every hundred grains, God
multiplies reward for whom He wills.And Allah Area His gift, Knowing Al-
Baqarah: 261
8
Compared with endowments objects, designation awqaf money cash is more
flexible.The benefits of cash awqaf by Usman 2009: 114, among others:
1. Endowments money amounts can be var-
ied, a person who has limited funds can begin to provide awqaffunds without hav-
ing to wait being a landlord in advance,
5
Irfan Syauqi Beik, Wakaf Tunai dan Pengentasan Kemiskinan, ICMI online Halal Guide, September 2006
6
Muhaimin Iqbal, “Dinar Solution”, GEMA INSANI, Jakarta 2008
7
National Law Development Agency, Ministry of LawandHuman Rights ofthe Republic of Indonesia, “Legal Aspects of Endowment,” Jakarta 2011.
8
OrganizersFoundationTranslatorinterpreterof the Qur’an, “The Qur’anandTranslations,” Jakarta 1993.
