Indonesia Conference Directory

Corresponding Author
Eko Fajar Cahyono

Institutions
Islamic Economic Department
Faculty and Bussiness
Airlangga University

Abstract
This study aims to explore how the role of sukuk in supporting Indonesia in achieving several sustainable development goals through the procurement of public infrastructure development projects in two ministries that are important for the people of Indonesia, namely the Ministry of Public Works and the Ministry of Religion. State Sukuk contributed to building the Indonesian nation through the Public Infrastructure development project project with the two affiliates of the ministry. Project projects such as the construction of roads, bridges, infrastructure of water resources, schools, universities, weddings and dormitories for pilgrims are some examples of the results of state sukuk financing. This article describes and identifies the potential benefits of the project for the people of Indonesia to realize several sustainable development goals such as economic growth, industrial growth, food supply, gender equality, improving education and improving the quality of the environment. The method used is descriptive quantitative and descriptive qualitative using secondary data from government documents and mass media. The results of the study show that the state sukuk for a decade of publishing has had a positive impact on the welfare of the Indonesian people.

Keywords
Sukuk, Sustainable Development Goals, Public Infrastructure

Topic
Sustainable Development in Islamic Perspective

Link: https://ifory.id/abstract/XEj8YpJRTBrV

Corresponding Author
Priyesta Rizkiningsih

Institutions
Center of Strategic Studies
The National Board of Zakat
Jl. Kebon Sirih No.57, 10340, Jakarta Pusat, Indonesia
*corresponding author: amelya.astuti[at]puskasbaznas.com

Abstract
The paper aims to look at the impact of zakat on mustahik receiving zakat through empowerment programs which do not directly provide cash as an additional income to them. The impact is measured by General Poverty Index and BAZNAS Welfare Index using four measurement standards, namely poverty line, had kifayah, rice nishab and gold nishab. By taking 243 households as sample, the results show that zakat distribution through empowerment programs has a good impact on the welfare of mustahik.

Keywords
zakat, empowerment, welfare

Topic
Islamic Philantrophy

Link: https://ifory.id/abstract/dfz8BYUNyT2G

Corresponding Author
LISA LISTIANA

Institutions
Waqf Center for Indonesian Development and Studies (WaCIDS), Indonesia

Abstract
In waqf sector, comparison between budget and realization of the state budget (APBN) represents the mainstream information that available for public access. On other hand, there is a mechanism in which the result or success become prerequisite for investment return, hence equipped with measurable explicit outcome called as Social Impact Bond (SIB). SIB is acknowledged as an innovative financial instrument that enable impact investment scheme by blending both social and financial return at the same time. As some studies associated SIB concept with social finance and Socially Responsible Investment (SRI) which contains value of maqasid shariah, Islamic finance may take lesson from it. Unfortunately, the concept of SIB not yet become popular in Indonesia, as the largest Muslim population country. Acknowledged this situation, current paper aims to synthesize the concept of SIB and identify its existing models across jurisdictions. Take lesson from SIB-s characteristics, this paper will also propose partnership model in waqf sector, which essentially embraces impact investment in nature. Meta-synthesis of the literatures on SIB is employed in this study. Review of existing reports and publications by relevant institutions complement the systematic literature review (SLR) in current study. This study represents the pioneer work that attempts to elaborate SIB concept and waqf within Indonesian environment

Keywords
Social Impact Bond, Waqf, Indonesia

Topic
Islamic Philantrophy

Link: https://ifory.id/abstract/ENe6CH79nPfD

Corresponding Author
Mohammad Abdullah

Institutions
The Markfield Institute of Higher Education

Abstract
Though poverty is a global phenomenon, its concentration in India is greater than any other country. According to World Bank data, almost 30% of the world-s extreme poor were living in India in 2011. As a religious group, Muslims in India are trapped in the incidence of poverty more than other communities except Buddhists. In aggregate terms, one in every three Muslims lives below poverty line in India. Muslims in India are the second largest majority after Hindus. The data on the socio-economic status of Muslims reveals that the community lags behind Hindus in almost all areas including education, government jobs and financial inclusion. Poverty is one of the main reasons for the pathetic condition of the community in the country. As per the available data, 21.7 % of Muslims living in rural areas are in poverty. The incident of poverty is more acute among the Muslims living in urban areas, as the percentage of poor Muslims in urban areas stands at a staggering 33.7%. The average of combined Muslim population below poverty line in rural and urban areas stood at 25.8% by 2009-2010. As a whole, along with being the second largest majority in India, Muslims also constitute the second largest religious group in poverty after Buddhists. This abject condition of the community can be remedied to a great extent if along with other governmental policies, the resources of Waqf (Islamic charitable endowments) are deployed properly with the objective of poverty mitigation in the community. India hosts a massive size and amount of Waqf. There are approximately 4.9 lakh (490,000) registered Waqf properties in the country. The total area that Waqf properties of the country cover is more than six hundred thousand acres. The current market value of all Waqf properties in the country are estimated to be worth more than 1.2 trillion Indian Rupees. According to the some estimates if these properties are put to efficient and marketable use they can generate at least a minimum return of ten per cent. Thus, the role of Waqf institution can be critically important in reducing the poverty of particularly Muslim community. However, partially due to lack of a robust governance structure and also due to rigidity of approach and misapplication, the institution of Waqf remains either static or unresponsive towards the poverty of the community. This paper examines the potential relationship of Waqf and poverty reduction among the Indian Muslims followed by a critical analysis of the religious as well as legal governance structures of Waqf. The paper finds that the rate of poverty among the Muslims in India can be substantially reduced if the available resources of Waqf are deployed through proper planning and with efficiency. The paper is based on qualitative research paradigm and it adopts socio-legal research methodology for the analysis of the available literature. The paper concludes with some critical policy recommendations which may help to provide a road-map for t

Keywords
Poverty, Endowment, Waqf, Philanthropy, Governance, Charity, Socio-economic Empowerment.

Topic
Islamic Governance and Ethics

Link: https://ifory.id/abstract/XV9YU26TJeGb

Corresponding Author
Mohammad Abdullah

Institutions
The Markfield Institute of Higher Education

Abstract
The function of waqf institution, which is an integral pillar of the third sector of an ideal Islamic economy, is to contribute towards provision of a social security net to those falling within its vicinities. The value proposition of waqf lies in effectively cascading wealth and benefits of resources to the neglected or comparatively disadvantaged sectors of an economy. Similarly, waqf is equally envisaged to support informal economy by responding to, and patronising the un-organized sectors. To this end, it is critical to identify the existing gaps in the areas of public and private sectors- spending for waqf to effectively fulfil its socio-economic objectives. By targeting the resource-deficient pockets of the economy on priority basis, the utility of waqf-resources can be maximized, which, in turn, reinforces the building blocks of the real economy. This paper argues that the institution of waqf needs to adopt a bottom-up approach in its socio-economic targets in order to optimise its contribution towards real economy in a socially responsible manner. The bottom-up approach calibrated with the sense of Islamic social responsibility is based in sequencing the progression of waqf-based benefits-coverage from necessities to needs and luxuries as per the hierarchy of maqasid-al-shariah. By adopting the framework of maqasid hierarchy, a self-regulatory paradigm can be established for the allocation of awqaf benefits more effectively. The paper critically analyses the moral philosophy, the value proposition and functional mechanism of an ideal waqf followed by pinpointing the key policy recommendations to enhance the role of modern waqf institution. It argues for the introduction and promotion of parallel waqf concept, particularly, in the context of a family waqf. Additionally, the study postulates linking the expected sum of virtues (ajr/thawab) for the waqif with the generated benefits from his/her underlying waqf. Finally, the study argues the merits of consultation mechanism for the potential waqif prior to creation of a waqf in order to maximise the contribution and value addition of his/her underlying waqf benefits. The paper is an outcome of a library-based research, and it adopts socio-legal research paradigm for the analysis of the available literature. To determine the moral philosophy of waqf along with its socio-economic objectives, the primary and secondary sources of shariah including the classical and contemporary fiqh literature have been consulted and referred to.

Keywords
Social Finance, Charity, Re-distributive Mechanism, Islamic Endowment, Real Economy

Topic
Islamic Philantrophy

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

Corresponding Author
Fahmi Ali Hudaefi

Institutions
Center of Strategic Studies, The National Board of Zakat (BAZNAS)

Abstract
Recently, there has been renewed interest among the interdisciplinary discussion in the topic of Zakat and Sustainable Development Goals (SDGs). The current practice of Zakat distribution by The National Board of Zakat, Republic of Indonesia (BAZNAS), has been innovative. Among the recent projects is the construction of lavatories in some of the underdeveloped villages in Indonesia. This practice has contributed to the idea that Zakat not only promotes the SDGs of zero poverty and no hunger but also advances the sustainability of clean water and sanitation (SDGs No. 6). However, this notion demands an extensive academic explanation. Hence, this paper aims to explore the subject matters by conducting a case study from BAZNAS- project in Boyolali, Indonesia, which the data are collected through observation and semi-structured interviews. The findings validate the relationship among health, water and sanitation. Further, the involvement of the local government implies that such proper sanitation is achievable through collaborative works. This is the first paper to resolutely crediting scholarly-based evidence about the impact of Zakat fund for the sustainability of clean water and sanitation. This study is relevant for academics, Zakat institution, the Indonesian government, and other related stakeholders of SDGs.

Keywords
BAZNAS, Zakat, SDGs, Water, Sanitation, Indonesia

Topic
Islamic Philantrophy

Link: https://ifory.id/abstract/W4cqymAXNU3t

Corresponding Author
Mega Bintang Rahardini

Institutions
Universitas Airlangga Jalan Airlangga No 4 sampai 6 Surabaya

Abstract
This study aims to see the which indicators between Reviews These seven criteria Akad, character, capital, capacity, collateral, condition and Sharia are Considered most important in the financing agreement According to banking practicioners. This study used qualitative and Quantitative method with Analytic Network Process ANP techniques. The respondents in this study is seven respondents who are banking anlysts. The result of this study state that from the seven criteria, there are three criteria that Considered most important According to the anlysts. Those criteria are character 0.208), Syariah 0.196 and capacity 0,154.

Keywords
financing, Analytic network process, sharia banks, 5C.

Topic
Islamic Finance and Banking

Link: https://ifory.id/abstract/Ca84Rv3mwFkM

Corresponding Author
Aimatul Yumna

Institutions
Universitas Negeri Padang

Abstract
This study examines the characteristics of Non-Profit Microfinance Institutions (NMFI) clients and discuss the determinant factors used by Islamic NMFI to select the clients. Primary data was collected using questionnaires of 270 respondents including the clients and non-clients of three case study institutions in Jakarta and Yogjakarta Indonesia. Data was analyzed using poverty level analysis and logistic regression. The findings show that clients and the non-clients of NMFIs have a similar profile in relation to age, formal education period, and family size variables. Further analysis of poverty level shows that the majority NMFIs- clients live above the national poverty line, but they live perilously close to the edge of the poverty line. Using logistic regression, this study found that the higher the client-s income level, the higher the probability of their being selected in the program. This finding indicates that Islamic non profit microfinance institutions have not selected the more vulnerable group in society to be their clients. This study suggests some possible barriers to include the poor in the microfinance including institutional selection policy and self exclusion factors.

Keywords
Islamic microfinance, client selection, nonprofit microfinance

Topic
Islamic Micro finance

Link: https://ifory.id/abstract/Qb2nzGCN8drt