The Cash Waqf Management Control

3 The global fund management sectors, Global Fund Management Sector Total_Return Principal_4 Investment_periode CW_normal Convert_to_Gold_standard Global_Fund_Mgt Ratio rate_of_cash_inflow Collecting_period Cash_Inflow Profit_of_Glb_Fund_Mgt growth_rate Current_price_of_gold Min_Req_Return Return_of_Global_Fund Return_of_Global_Fund Return_of_Microfinancin Cash_Waqf 4 The microfinance sectors. Microfinance Portofolio Sectors Mikrofinance microcredit Profit_of_Microfinance Indonesian_population Stop_Microfinance Microfinace_Period Return_of_Microfinancing Pra_welfare_people Microfinance_Policy Policy_ratios The survey concluded that most people did not trust any existing government institutions to manage cash waqf fund and control cash waqf investment activities, especially because cash waqf management will involve large amount of endowment funds. Most of them also recommend that if a special purpose institution is established to manage cash waqf fund, it has to be highly capable of detecting any potential dishonesty and assessing performance of cash waqf fund manager, i.e. nadzir. Therefore, it’s necessary to design an instrument which is able to control the cash waqf management. This model tries to design a control tools which is able to detect the human error in decision making either mismanagement or dishonesty quickly see figure 3e 3d. 5 The direct investment in large and medium scale enterprises, 6 The distribution sectors of the profits of cash waqf investment see figure 4b. Investment profits link to the poor through the poverty programs. The Interrelationship among variables can be seen in Figure 2.

7. The Cash Waqf Management Control

Direct Investment to Real Sectors Return_Real_Estate Principal_331a Age_of_Waqf_Prodctvty Principal_331b Profit_of_Waqf_Land The collected cash waqf fund from the waqif will be distributed to the various portfolios and then the usage will be controlled periodically. The early warning system will be prepaired by the system in order to the amount of cash waqf fund will not go below the initial amount. It is the difference of the cash waqf from the other sources of funds. Gold standard can be used as the currency standard because of its stability. see figure 3a-d. day rupi ah Control_Function 1 Cummulative_Cash_Waqf_Fund 2 20 40 60 80 100 500.000.000 1e9 1,5e9 2e9 1 2 1 2 1 2 1 2 1 2 Figure3a. The Simulation Result Short-Term day Gold St andard kg Total_cash_waqf_in_gold 1 Convert_to_gold 2 20 40 60 80 100 5 10 15 20 1 2 1 2 1 2 1 2 1 2 Figure 3b. The Simulation result short term Principal_322 Invest_to_Company Build_New_Waqf_Assets Invest_to_new_waqf Invest_to_build_Comrcl_Projects Principal_32 Total_Return_Direct_Inv Total_Rtrn_New_Waqf_Assets Company Total_Return_Direct_Inv Waqf_Land_Growth Decrease_of_Waqf_Land Age_of_Waqf_Prodctvty Average_Rtrn_New_Waqf_Assets Invest_to_Direct_Investment Commercial_Projects Commercial_Projects_investment_Periode Average_Rtrn_New_Waqf_Assets Principal_321 Total_Rtrn_New_Waqf_Assets Principal_322 Invest_to_Social_Projects Profit_of_Commercial_Projects Rtrn_Commercial_Projects minimum_ROI Rtrn_Commercial_Projects Commercial_Projects_investment_Periode Principal_321 Company_rate_of_return minimum_ROI Company_Profits_ Company_rate_of_return Time_to_Direct_inv Invest_to_Direct_Investment Principal_31 Waqf_Land_Devaluation The_number_of_Waqif Fraction_of_year Profit_of_Waqf_Land_Rental Rental_Price Profit_of_Direct_Investment Profit_of_Waqf_Land_Rental Profit_of_Commercial_Projects Company_Profits_ Profit_of_Waqf_Productivity Time_to_invest_in_Direct_Investment Waqf_Land_Availability Social_Projects Rtrn_Commercial_Projects Return_Social_Projects Social_Projects_Policy Adjust_to_Social_Projects Invest_to_Agriculture Invest_to_Waqf_Assets Principal_33 Principal_331b Principal_331 Invest_to_Real_Estate To_Increase_Waqf_Productivity Average_Rtrn_Waqf_Land Return_Real_Estate Return_of_Agricltr Profit_of_agriculture Invest_to_Waqf_Land Agriculture Real_Estate minimum_ROI Age_of_Waqf_Prodctvty Profit_of_agriculture Return_of_Waqf_Land Profit_of_Real_Estate minimum_ROI To_Increase_Waqf_Land_Productivity Principal_331a Return_of_Agricltr Invest_to_Direct_Investment Total_Rtrn_Waqf_Prodctvty Principal_331 Principal_332 Total_Rtrn_Waqf_Prodctvty Average_Return_of_Waqf_Prodctvty Average_Rtrn_Waqf_Land Invest_to_Waqf_Building Company_rate_of_return Total_Return_Direct_Inv Profit_of_Waqf_Building Return_of_Waqf_Building Average_Rtrn_New_Waqf_Assets Average_Return_Direct_Inv Profit_of_Waqf_Productivity To_Increase_Waqf_Building_Productifity Profit_of_Waqf_Land Age_of_Waqf_Prodctvty Principal_332 minimum_ROI 5 day rupiah Cummulative_Cash_Waqf_Fund 1 Control_Function 2 5.000 10.000 15.000 5e14 1e15 1 2 1 2 Figure 3c The Simulation Result long term day gold standard kg Convert_to_gold 1 Total_cash_waqf_in_gold 2 5.000 15.000 5.000.000 10.000.000 1 2 1 2 Figure 3d The Simulation Result long term da rupiah Control_Function 1 Cummulative_Cash 2 20 40 60 80 100 1e9 2e9 3e9 4e9 5e9 1 2 1 2 1 2 1 2 1 2 da gold s tandard kg Total_cash_waq d 1 Convert_to_gol 2 20 40 60 80100 10 20 30 40 50 1 2 1 2 1 2 1 2 1 2 Figure 3e. The Simulation Result short term if any of mismanagements or dishonesty occur day ru p ia h Control_Function 1 Cummulative_Cash_Waqf_ Fund 2 2.000 6.000 10.000 2e13 4e13 6e13 1 2 1 2 1 2 1 2 day g ol d s tandar d k g Total_cash_waqf_in_gold 1 Convert_to_gold 2 2.000 10.000 300.000 600.000 1 2 1 2 1 2 1 2 Figure 3f. The Simulation Result long term if any of mismanagements or dishonesty occur

8. The Potency of Cash Waqf for the