A Dynamic Model for Cash Waqf Management as One of The Alternative Instruments for The Poverty Alleviation in Indonesia
AbstractThis research tries to offer a design of the cash waqf management system in a system dynamics model. The Cash Waqf Management is expected to become one of the alternative instruments for the poverty alleviation programs in Indonesia. These programs require huge amount of fund that cannot be provided thoroughly by the government. Therefore, initiation of new sources of fund for such a program is inevitable. In the Islamic sosioeconomic concept, there is a source of social fund that is economically and politically free of charge, namely cash waqf. In this concept, Nadzir (cash waqf fund manager) collects the fund from Waqif (cash waqf payer) and invest the money in the real sector and in any syariah-based investment opportunities. Nadzir will then allocate profits and returns gained from the investments to poverty alleviation programs. Nadzir is obliged to maintain the amount of fund in such a way that it does not go below the initial amount. Therefore, Nadzir not only should be highly capable, but also needs an experienced financial institution in helping SMEs development efforts. Using the system dynamics methodology, we try to design the structure of cash waqf system and simulate the behaviour of cash waqf model.
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Bibliographic InfoPaper provided by Department of Management and Business, Padjadjaran University in its series Working Papers in Business, Management and Finance with number 200502.
Length: 30 pages
Date of creation: Feb 2005
Date of revision: Feb 2005
cash waqf; portfolio investment; poverty alleviation; system dynamics;
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- G0 - Financial Economics - - General
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- Hidayatul Ihsan & Shahul Hameed Hj. Mohamed Ibrahim, 2011. "WAQF accounting and management in Indonesian WAQF institutions: The cases of two WAQF foundations," Humanomics: The International Journal of Systems and Ethics, Emerald Group Publishing, vol. 27(4), pages 252-269, November.
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