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