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PROSIDING Seminar Nasional dan Call For Papers Ekonomi Syariah“Indonesia Sebagai Kiblat Ekonomi Syariah”
Utilization of cash awqaf in this case can promote the establishment of self-sufficiency
of capital, in addition to credit derailed from Islamic Financial Institutions. By different
mechanisms, Islamic Financial Institutions can distribute endowment funds that accrue to farm-
ers or farmer groups.This cash awqaf specifi- cally earmarked for agribusiness or agricultural
sector, which is managed by farmers.
3.3 Cash Awqaf Utilization for Agricultural Sector to Support Food Self-Sufficiency
in Indonesia Utilization of productive cash awqaf op-
timally for agriculture or agriculture sector will greatly help achieve self-sufficiency of food in
Indonesia.In addition, aspects of mutual coop- eration as a vision of development in Indone-
sia in 2015-2019 can also be realized, because endowments is a part form of worship to Allah
SubhanahuWaTa’ala, is a means to build the
social sense between fellow human beings. The difference between the productive
cash awqaf with their credit in which each agribusiness sector is allocated for the period
of the capital, where the earning cash awqaf was not limited.If the farmer will go to Islamic
Financial Institutions IFI to obtain credit, then earning cash awqaf will freely handed over to
farmers or farmer groups to be managed re- main in control.Another difference is in the
distribution ratio profit.If the system IFI credit capital as capital owners, who then will obtain
a percentage of the profits as agreed to farm- ers manager, then the cash awqaf system
productiveIFI only act as an intermediary betweenwakif people who give awqaf
andNazhir awqaf property manager.The re- sults or profits from the management of the
endowment fund will wherewithal to those entitled to receive, as expected wakif.
Table 3.2 Allocation of Loans by Sector, Year 2006-2008 Trillion
Sector Years
2004 2005
2006 Agriculture
33.14 37.17
43.21
Mining
7.81 8.12
11.15
Industry
144.91 171.28
180.28
Electricity, gas, and water
5.98 5.36
5.22
Construction
19.97 26.98
33.82
Trade, restaurants and hotels
113.07 135.83
156.93
Transportation, warehousing, and communications
17.66 19.82
26.41
Business services
56.35 72.62
74.99
Social services community
8.04 10.02
10.28
Etc
152.49 208.37
224.73
Source: Tambunan 2008, Data Bank of Indonesia
10
10
National Working Meeting on Agricultural Development2015 http:peternakan.kaltimprov.go.id, accessed onMarch 25,2015.
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PROSIDING
Seminar Nasional dan Call For Papers Ekonomi Syariah“Indonesia Sebagai Kiblat Ekonomi Syariah”
As reported by the National Law Devel- opment Agency, Ministry of Law and Human
Rights following the provisions of the awqaf money cash:
1. Wakif
allowed donating moving objects in the form of money through financial Sharia
Institution appointed by the minister
11
Undang-Undang Nomor 41 Tahun 2004, Pasal 28
2. Money Awqafheld by wakif with wakif the statement will be made in writing
12
3. Awqaf is published in the form of cash
awqaf certificate,
13
4. Awqaf money certificate published is go-
ing to be delivered by the Islamic Finan- cial Institutions to wakif and Nazhir as
proof of wealth distribution in the way of endowments,
14
and 5. Islamic Financial Institutions on behalf
Nazhir register property in the form of
money to the Minister of Religious Affairs no later than 7 seven working days from
the issuance of the certificate of cash awqaf
.
15
The technical rules concerning cash awqaf
is that wakif mandatory: 1. Attend in Islamic Financial Institutions as
recipients of cash awqaf IFI-EMR to ex- press the will of its if thewakif is probably
absent, wakifcan point representatives or proxies,
17
2. Explain the ownership and origin of the money that will be given as a awqaf;c give
the cash money to IFI-EMR, and 3. Fill thewakif declaration form which will
be used as the AIW.
18
Cash awqaf management mechanism which is applied to the agricultural sector will
be managed by farmers or peasants can be seen from the following chart.
Figure 3.1 Mechanism Cash Awqaf Productive Agricultural Sector with the Depository System
Capital
Partofthe wherewithal90
SectionforNazhir10 maximum
Agriculture
Nazhir
Farmersor farmer groups
Entrust CWC Cash Awqaf
Certificate
IFI-EMR Wakif
Deposit funds on behalf of
IAB account Custody
Back
IAB
11
Undang-Undang Nomor 41 Tahun 2004, Pasal 28
12
Undang-Undang Nomor 41 Tahun 2004, Pasal 29, ayat 1
13
Undang-Undang Nomor 41 Tahun 2004, Pasal 29, ayat 2
14
Undang-Undang Nomor 41 Tahun 2004, Pasal 29, ayat 3
15
Undang-Undang Nomor 41 Tahun 2004, Pasal 30.
16
Peraturan Pemerintah Nomor 42 Tahun 2006, Pasal 22, ayat 3 a.
17
Peraturan Pemerintah Nomor 42 Tahun 2006, Pasal 22, ayat 4.
18
Peraturan Pemerintah Nomor 42 Tahun 2006, Pasal 22, ayat 3, b, c, dan d.
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PROSIDING Seminar Nasional dan Call For Papers Ekonomi Syariah“Indonesia Sebagai Kiblat Ekonomi Syariah”
Cash awqaf management mechanism specifically productive agricultural sector
uses
19
depositorysystem.Indonesian Awqaf Board IAB as a special institution that handles
awqaf in Indonesia issued a Certificate of Cash
Awqaf CCA which will then be deposited on
Islamic Financial Institutions Endowment Money-Receiver IFI-EMR.Based on Govern-
ment Regulation No. 42 of 2006, Article 23. Five Islamic Financial Institutions who has
been appointed by the Minister of Religious Affairs as IFI-EMR are: a PT Bank Negara
Indonesia Persero Tbk.Sharia division, b PT Bank mu’amalat Indonesia Tbk, c PT Bank
DKI Jakarta, d PT Bank SyariahMandiri, and e PT Bank Mega Syariah Indonesia.
Wakif, as the person who endowed funds
will deposit it in the IFI-EMR on behalf of IAB account in the IFI-EMR.IFI-EMR position in
this case only as custodial, so that responsibil- ity for wakif located at IAB.When it comes to
IFI-EMR, wakif or its representative will be asked to express wakif, explaining the origin
of ownership and moneyawqaf, handed over the cash amount of money that will be given as
awqaf
, and filled out a declaration form will wakif
which serves as AIW. Funds that have been collected in IFI-
EMR will then be distributed on Nazhir as capi- tal to manage the farm. Nazhir here are farm-
ers or farmer groups.The advantage of the man- agement of the fund will be the wherewithal to
eligible, as requested wakif. The Nazhir still obtain a maximum of 10 of the profits.
4. Conclusion
4.1 Conclusion
Cash awqaf in Indonesia does exist, how- ever, the cash awqafconcerned on agricultural
sector has not provided yet. Sharia Financial Institution has not been able to provide the fi-
nancial support for agricultural sector, there- fore, the need of new idea in optimizing the
use of productive cash awqaf in order to maxi- mize the productivity and self-sufficiency in
Indonesia is much important. By providing the capital for farmers who still face difficulty, it
is expected to increase the farmers’ productiv- ity. The distribution of the cashawqaf which is
founded by Indonesian Awqaf Institution and also accompanied by Sharia Financial Institu-
tion are spread in many areas. The mechanism of utilizing productive cash awqaf is farmers
get the capital from Sharia Financial Institu- tion then the capital is utilized. If the gain has
been reached, the farmers must give 90 of the total gain to other side which is accompa-
nied by Sharia Financial Institution.
4.2 Suggestion
This research can be continued by the next researcher with the same concern in order
to more understand about the effect of the implementation cash awqaf as the capital for
the farmers. Moreover, the following research is expected to know the degree of benefit and
also the criteria of success of the implementa- tion of productive awqaf as the capital for the
farmers.
REFERENCES
National Law Development Agency, Ministry of Law and Human Rights Affairs.2011.
Aspects of the Law of Awqaf. Jakarta:
National Law Development Agency, Ministry of Law and Human Rights Af-
fairs.
Well, IrfanSyauqi. Endowments Cash and Pov- erty Alleviation.
ICMI Online, Halal Guide, September 2006.
East Kalimantan Provincial Livestock Office.2014.Working Meeting of the Na-
tional Agricultural Development 2015.
Online, http:peternakan.kaltim- prov.go.id , accessed on March 25, 2015
