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optimizing waqf for the development of UMKM as an effort to face industry 4.0
Lily Marliyah (a*),Imam Noor Said(b), Della Arny Novera (b)

a*) Faculty of Social Science Education, Ivet University, Jalan Pawiyatan Luhur I, Semarang 50235, Indonesia
*lilimarliyah[at]rocketmail.com

b) Faculty of Economics and Business, Diponegoro University, Jalan Hayam Wuruk 5, Semarang 50241, Indonesia


Abstract

The industrial revolution 4.0 estimated to be able to grow a countrys economy 1-2% more than the average of countrys economic growth per year. Indonesia has economic growth 5% per year, estimated to increase 6-7% per year. The government of Indonesia has designed Making Indonesia 4.0 by placing 5 sectors as leading sectors, including: food, chemical, automotive, textile and electronic sectors. The most of food sector involve workers 80% in UMKM. In this case should be the governments focus fundamentally in the effort to join industry 4.0. The difficulties of UMKM such as funding must have a solution that does not have a negative impact on the national economy (debt to other countries). Therefore, waqf is one of the potential solutions in the country with management arranged neatly nationally, so that on a national scale endowments can be a source of funds that used to help grow the countrys economy. In addition, waqf can also reduce inequality that occurs in the community, this is because the results of waqf will partly help the poor. Waqf can be integrated in the Making Indonesia 4.0 program with a positive impact on the economy, there is reducing investment in the form of foreign debt, increasing economic growth, and preventing inequality by distributing endowments to the poor. Therefore, Making Indonesia 4.0 requires support and participation from all elements of society so that it can be immediately realized to improve the countrys economy in order to improve peoples welfare.

Keywords: Waqf, UMKM, development, industry 4.0

Topic: International Conference of Islamic Economic and Financial Inclusion

Link: https://ifory.id/abstract/xJVgnBmY2jcR

Conference: The 3rd International Conference on Sustainability and Innovation (ICoSI 2019)

Plain Format | Corresponding Author (Imam Noor Said)

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