Sukuk Linked Wakaf For MSME Develpoment

R. Melda Maesarach, Tri Mulato, Ahmad Rodoni

Abstract


The existing Sharia investment products are incorrect; the other is a state sukuk product. Aside from receiving returns on state sukuk, investors can also contribute to the country's development. Because the development of sukuk products is channeled to the actual sector, particularly for MSME (Micro, Small Maedium Enterprise) actors, Islamic financial institutions must play a role in carrying out the process of developing and aiding MSMEs. If many state sukuk products were previously allocated for infrastructure development, there needs to be an allocation for economic recovery through MSMEs under the current situations. The goal of this research is to assess the growth of state sukuk and the form of sukuk product development through state CWLS for the development of MSMEs. This is a qualitative study that examines the state sukuk market and the MSME sector. Secondary data was used, including information from the Ministry of Finance's Directorate General of Financing and Risk Management (DJPPR). The data analysis technique employed is descriptive qualitative, which depicts the evolution of state sukuk from 2019 to 2020, as well as forms of innovation for state sukuk goods designed specifically for MSMEs recovering from the covid-19 outbreak. PBS Auction Sukuk, PBS Private Placement Sukuk, SNI, SPN-S, Rite Sukuk (SR), and Savings Sukuk (ST) grew by 40.80% from 2019 to 2020, according to the findings of this study. Sukuk auctions at PBS increased by 39.59 percent, PBS Private Placement Sukuk increased by 214.39 percent, SR increased by 72.93 percent, and SNI Sukuk increased by 26.86 percent. In the meantime, SNI Sukuk fell by -30.01 percent, and ST fell by -35.76 percent. Providing business capital through Nazhir with a profit-sharing scheme, business assistance schemes, and maximizing the types of Waqf sukuk distributed to the productive sector are all schemes that can be implemented in developing MSMEs through the CWLS sukuk.


Keywords


Sukuk, Waqf, CWLS, UMKM

Full Text:

PDF

References


Faudji, R., & Paul, W. (2020). Cash waqf linked sukuk dalam optimalkan pengelolaan wakaf

benda bergerak (uang). Jurnal Ilmiah MEA (Manajemen, Ekonomi, & Akuntansi), 4(2),

–348.

Rahman, M. I. F., Nurwahidin, N., & Adnan, N. (2021). Analisis Model Cash Waqf Linked Sukuk

(CWLS) Sebagai Instrumen Pembiayaan Pemulihan Dampak Pandemi Covid-19. Jurnal

Bimas Islam. https://doi.org/10.37302/jbi.v14i1.343

Rahmawati, M., & Tanjung, H. (2018). Analisis Sukuk Negara Sebagai Alternatif Pembiayaan

Anggaran Pendapatan Dan Belanja Negara. An-Nisbah: Jurnal Ekonomi Syariah, 5, 338–

Sari, N. R., Bulutoding, L., Aditya, R., & Jannah, R. (2020). Equity crowdfunding for SMEs: sharia

compliance challenge amid the covid-19 pandemic. Jurnal Iqtisaduna, 6(2), 198–213.

Snyder, H. (2019). Literature review as a research methodology: An overview and guidelines.

Journal of Business Research, 104, 333–339.

Wafa, M. A. K. (2010). ANALISA FAKTOR-FAKTOR YANG MEMPENGARUHI TINGKAT

PERMINTAAN SUKUK RITEL-I (Periode Maret 2009-Juni 2010). La_Riba.

https://doi.org/10.20885/lariba.vol4.iss2.art2

Wijaya, R. H. (2021). INVESTASI SYARIAH DAN PERTUMBUHAN EKONOMI: OPTIMASI PERAN

SUKUK SEBAGAI PENUNJANG PEMBANGUNAN EKONOMI NASIONAL. JURNAL EKONOMI

SYARIAH. https://doi.org/10.37058/jes.v6i1.2414

Yunita, P. (2020). Cash Waqf Linked Sukuk (CWLS) Model: For Indonesia Sustainable Food

Security. Al-Awqaf: Jurnal Wakaf Dan Ekonomi Islam, 13(1), 59–72.

Zaitun, Z., & Juliyanto, F. (2022). Covid 19 Pandemic: The Inspiration to Start Online Business.

BASKARA: Journal of Business and Entrepreneurship, 4(2), 18–27.

(https://www.kemenkeu.go.id/single-page/sukuk-wakaf/)

(https://www.bwi.go.id/4030/2019/11/20/mengenal-lebih-dekat-cash-wakaf-linked-sukuk/

Aditiya, R., Suwandi, M., Sari, N. R., & Fadhilatunisa, D. (2022). POTENSI SUKUK RITEL DAN

SUKUK TABUNGAN UNTUK MEMPERCEPAT PEMULIHAN EKONOMI PASCA PANDEMI

COVID-19. Equilibrium: Jurnal Penelitian Pendidikan Dan Ekonomi.

https://doi.org/10.25134/equi.v19i01.4282

Amalia, P., Irianti, E. D., Fiskal, K., Imron, M., Nasution, Z., & Hanifah, A. (2021). KAJIAN

KELOMPOK ANALIS SYARIAH Editor: Eri Hariyanto Jamil Abbas Tim Kajian. 1–34.

Anik, A., & Prastiwi, I. E. (2017). Pengembangan Instrumen Sukuk Dalam Medukung

Pembangunan Infratruktur. Jurnal Ilmiah Ekonomi Islam, 3(03), 173–180.

Ariyana, F. R., Arundina, T., & Kasri, R. A. (2020). Sukuk market liquidity determinants: a case

study on sovereign sukuk in Indonesia. Institutions and Economies, 66–90.

Ausat, A. M. A., & Suherlan, S. (2021). Obstacles and solutions of MSMEs in electronic

commerce during covid-19 pandemic: evidence from Indonesia. BASKARA: Journal of

Business and Entrepreneurship, 4(1), 11–19.

Baiti, E. N., & Syufaat, S. (2021). Cash Waqf Linked Sukuk Sebagai Instrumen Pemulihan

Ekonomi Nasional Akibat Covid-19. Jurnal Hukum Ekonomi Syariah, 4(1), 37–70.

DSN-MUI. (2020). FATWA DEWAN SYARIAH NASIONAL-MAJELIS ULAMA INDONESIA NO:

/DSN-MUIAX2020 Tentang SUKUK.

DSN-MUI. (2002). Fatwa Dewan Syari’ah Nasional Nomor: 32/DSN-MUI/IX/2002. Dewan

Syariah Nasional MUI.

DJPPR Kementerian Keuangan RI. (2019). Laporan Tahunan 2019.

DJPPR Kementerian Keuangan RI. (2019). Laporan Tahunan 2020.

Fatha Pringgar, R., & Sujatmiko, B. (2020). Penelitian Kepustakaan (Library Research) Modul

Pembelajaran Berbasis Augmented Reality pada Pembelajaran Siswa. Jurnal IT-EDU,

(01), 317–329




DOI: https://doi.org/10.54268/baskara.v5i1.12190

Refbacks

  • There are currently no refbacks.


Copyright (c) 2022 BASKARA : Journal of Business and Entrepreneurship


BASKARA: Journal of Business and Entrepreneurship
Indexed By:

Sinta Dikti Garuda Google Scholar Dimensions.ai E-ISSN Official for BASKARA


Copyright of Baskara: Journal of Business and Entrepreneurship (e-ISSN: 2623-0089 ).

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License


Powered by Puskom-UMJ