Article Sidebar

Submitted
August 7, 2022
Accepted
August 31, 2022
Published
September 2, 2022
Download
Full text PDF
Statistic
Read Counter : 324 Download : 410

Downloads

Download data is not yet available.

Main Article Content

Abstract

Purpose – This paper aims to formulate a waqf of rice field model combined with the mitigating risk associated with maintaining the agricultural land due to the conversion issue.
Methodology – This study used a qualitative method with a library approach by adopting a qualitative content analysis which strengthens primary data collection through in-depth interviews with experts consisting of regulators, practitioners, and academics in the fields of waqf and agriculture
Findings – The results showed that the strategy to implement the waqf of rice fields could be pursued by an internal strategy, namely optimizing and revitalizing waqf land. That had been pledged as a means of production and an external strategy through the acquisition of potential paddy fields for waqf and managed by nazhir. In implementing the proposed model, some institutional engineering is needed, namely by presenting the role of anchor companies as managers, farmer associations of driving actors, and off-takers who buy crops. It can mitigate the risk of reduced cash waqf principal and farmer financing through a holistic feasibility study, involvement of insurance/guarantor, reserving capital funds, restructured financing, blended finance schemes, and institutional strengthening.
Implications – This model expects to answer the sustainability problem of agricultural land, be a catalyst for increasing production quantity, and solve the financing issue for farmers.
Originality – This preliminary study integrated the agricultural issues with the concept of waqf and Islamic instruments strengthened by literature review and expert judgment, followed by formulating the proposed model's strategies, models, and risk mitigation.

Article Details

License

Copyright (c) 2022 Rifaldi Majid

Creative Commons License

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

Authors who publish with this journal agree to the following terms:

  1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-ShareAlike 4.0 International License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
  2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
  3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
How to Cite
Majid, R. (2022). Rice land sustainability and agricultural financing through waqf. Review of Islamic Social Finance and Entrepreneurship, 1(1), 17–35. https://doi.org/10.20885/RISFE.vol1.iss1.art2
Download Citation
Endnote/Zotero/Mendeley (RIS)
BibTeX

References

  1. AAOIFI. (2017). Shari’ah standards. The Accounting and Auditing Organization for Islamic Financial. http://aaoifi.com/shariaa-standards/?lang=en
  2. Abdul-Majeed Alaro, A. R., & Alalubosa, A. H. (2019). Potential of sharī’ah compliant microfinance in alleviating poverty in Nigeria: A lesson from Bangladesh. International Journal of Islamic and Middle Eastern Finance and Management, 12(1), 115–129. https://doi.org/10.1108/IMEFM-01-2017-0021
  3. Abdul Rahman, R., Muhammad, A. D., Ahmed, S., & Amin, F. (2016). Micro-entrepreneurs’ intention to use Islamic micro-investment model (IMIM) in Bangladesh. Humanomics, 32(2), 172–188. https://doi.org/10.1108/H-02-2016-0020
  4. Ahmad, M. (2018). A proposed integrated temporary cash waqf and Salam for agri-financing for rice farmers in Indonesia. International Journal of Islamic Economics and Finance Research, 1(2), 31–43. https://ijiefer.kuis.edu.my/ircief/article/view/30
  5. Akurat.co. (2017). 420.000 Hektare tanah wakaf menganggur, pemerintah dituntut beri insentif. Akurat.Co. https://akurat.co/420000-hektare-tanah-wakaf-menganggur-pemerintah-dituntut-beri-insentif
  6. Antaranews.com. (2021). Pemerintah berupaya pertahankan lahan sawah untuk kestabilan pangan. Https://Www.Antaranews.Com. https://www.antaranews.com/berita/2059058/pemerintah-berupaya-pertahankan-lahan-sawah-untuk-kestabilan-pangan
  7. Ayu, I. G., Pradnyawati, B., & Cipta, W. (2021). Pengaruh luas lahan, modal dan jumlah produksi terhadap pendapatan petani sayur di kecamatan Baturiti. Ekuitas: Jurnal Pendidikan Ekonomi, 9(1), 93–100. https://doi.org/10.23887/ekuitas.v9i1.27562
  8. Azizan, N. A., Muhamat, A. A., Alwi, S. F. S., Ali, H., & Abdullah, A. Q. C. (2021). Revitalising Waqf (endowment) lands for agribusiness: potentials of the anchor company models. Journal of Agribusiness in Developing and Emerging Economies, ahead-of-p(ahead-of-print). https://doi.org/10.1108/JADEE-05-2021-0128
  9. Badan Pusat Statistik. (2018). Hasil survei pertanian antar sensus (SUTAS) 2018 Seri-A2. Badan Pusat Statistik. https://www.bps.go.id/publication/2019/10/31/9567dfb39bd984aa45124b40/hasil-survei-pertanian-antar-sensus--sutas--2018-seri-a2.html
  10. Badan Pusat Statistik. (2019a). Persentase rumah tangga miskin menurut sumber mata pencaharian utama 2019.
  11. Badan Pusat Statistik. (2019b). Produk domestik bruto Indonesia triwulanan tahun 2015-2019. Badan Pusat Statistik. https://www.bps.go.id/pressrelease/2019/07/15/1629/persentase-penduduk-miskin-maret-2019-sebesar-9-41-persen.html
  12. Badan Pusat Statistik. (2020). Booklet SAKERNAS survei angkatan kerja nasional Agustus 2020. Badan Pusat Statistik. https://www.bps.go.id/publication/2020/12/23/d8b9a75ce826ddafbddb9657/booklet-survei-angkatan-kerja-nasional-agustus-2020.html
  13. Badan Pusat Statistik. (2021). Berita resmi statistik pertumbuhan ekonomi Indonesia triwulan IV-2020. Badan Pusat Statistik. https://www.bps.go.id/pressrelease/2022/02/07/1911/ekonomi-indonesia-triwulan-iv-2021-tumbuh-5-02-persen--y-on-y-.html
  14. Badan Wakaf Indonesia. (2019). Daftar nazhir wakaf uang-update Oktober 2019. Badan Wakaf Indonesia. https://www.bwi.go.id/3912/2019/10/31/daftar-nazhir-wakaf-uang-update-oktober-2019/
  15. Badan Wakaf Indonesia. (2020). Himpunan peraturan perundang-undangan tentang wakaf. Badan Wakaf Indonesia. https://www.bwi.go.id/wp-content/uploads/2020/09/Buku-Undang-Undang-Wakaf-.pdf
  16. Bantacut, T. (2014). Agenda pembangunan pertanian dan ketahanan pangan 2014-2019. Jurnal Pangan, 23(3), 278–295. https://doi.org/10.33964/jp.v23i3.98
  17. Benu, N. M., Maryunani, Sugiyanto, & Kindangen, P. (2013). Analysis of land conversion and its impacts and strategies in managing them in city of Tomohon, Indonesia. Asian Transactions on Basic and Applied Sciences, 3(2), 65–72. https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.675.7846&rep=rep1&type=pdf
  18. BeritaSatu.com. (2015). Lima juta petani alih profesi dalam satu dekade, kemiskinan meningkat. https://www.beritasatu.com/ekonomi/309059/lima-juta-petani-alih-profesi-dalam-satu-dekade-kemiskinan-meningkat
  19. Bisnis Tempo. (2021). BPS sebut rumah tangga miskin terbesar dari sektor pertanian. https://bisnis.tempo.co/read/1433905/bps-sebut-rumah-tangga-miskin-terbesar-dari-sektor-pertanian
  20. Che Mohd Salleh, M., Razali, S. S., Megat Laksana, N. N., Che Embi, N. A., & Abdullah, N. I. (2020). Developing a sustainable model of waqf-based takaful for flood victims in Malaysia. Journal of Islamic Accounting and Business Research, 11(9), 1941–1952. https://doi.org/10.1108/JIABR-10-2016-0114
  21. Direktorat Pemberdayaan Zakat dan Wakaf Kemenag. (2020). Zakat wakaf kontemporer. https://bimasislam.kemenag.go.id/materiliterasi/literasizawa/Sesi2-1.pdf
  22. Dirjen Bimas Islam. (2020). Kontribusi & solusi zakat wakaf di masa pandemi. https://bimasislam.kemenag.go.id/materiliterasi/literasizawa/Sesi1-1.pdf
  23. DSN-MUI. (2014). Fatwa dewan syariah nasional No. 91/DSN-MUI/IV/2014 tentang pembiayaan sindikasi (Al-Tamwil Al-Mashrifah Al-Mujamma’). Dewan Syariah Nasional Majelis Ulama Indonesia. https://dsnmui.or.id/pembiayaan-sindikasi-al-tamwil-al-mashrifi-al-mujamma/
  24. Ekonomi.bisnis.com. (2015). Kementan: Setiap tahun 500.000 petani beralih profesi. https://ekonomi.bisnis.com/read/20150312/99/411038/kementan-setiap-tahun-500.000-petani-beralih-profesi.
  25. Handbook of Islamic Banking. (2007). In M. K. Hassan & M. K. Lewis (Eds.), Handbook of Islamic banking. Edward Elgar Publishing, Inc. https://doi.org/10.4337/9781847205414.00010
  26. Hassan, M. K. (2010). An integrated poverty alleviation model combining zakat, awqaf and micro-finance. 1–22. Seventh International Conference – The Tawhidi Epistemology: Zakat and Waqf Economy, Bangi 2010. https://www.researchgate.net/profile/M-Kabir-Hassan/publication/228889744_AN_INTEGRATED_POVERTY_ALLEVIATION_MODEL_COMBINING_ZAKAT_AWQAF_AND_MICRO-FINANCE/links/00b7d5297ef0a2bea4000000/AN-INTEGRATED-POVERTY-ALLEVIATION-MODEL-COMBINING-ZAKAT-AWQAF-AND-MICR
  27. Hsieh, H. F., & Shannon, S. E. (2005). Three approaches to qualitative content analysis. Qualitative Health Research, 15(9), 1277–1288. https://doi.org/10.1177/1049732305276687
  28. Indrawan, I. W., & Herman, S. (2017). Integrated zakat and waqf model for refugees (IZWMR), Proposal to Improve Livelihood of Global Refugees. 1–10. https://www.academia.edu/37451559/Integrated_Zakat_and_Waqf_Model_for_Refugees_IZWMR_Proposal_to_Improve_Livelihood_of_Global_Refugees
  29. Iqbal, Z., & Mirakhor, A. (2011). An Introduction to Islamic Finance: Theory and Practice. John Wiley & Sons (Asia) Pte. Ltd.
  30. Kachkar, O. A. (2017). Towards the establishment of cash waqf microfinance fund for refugees. ISRA International Journal of Islamic Finance, 9(1), 81–86. https://doi.org/10.1108/IJIF-07-2017-007
  31. Kementerian Perencanaan Pembangunan Nasional. (2015). Kebijakan lahan pertanian pangan berkelanjutan (LP2B) (A. Muharam & D. Maghfirra (eds.)). Direktorat Pangan dan Pertanian Badan Perencanaan dan Pembangunan Nasional.
  32. Kementerian Pertanian. (2015). Rencana strategis kementerian pertanian tahun 2015-2019. Kementerian Pertanian Republik Indonesia.
  33. Kementerian Pertanian. (2019). Statistik lahan pertanian tahun 2014-2018). Pusat Data dan Sistem Informasi Pertanian Kementerian Pertanian, Sekretariat Jenderal- Kementerian Pertanian. http://epublikasi.setjen.pertanian.go.id/arsip-perstatistikan/167-statistik/statistik-lahan
  34. Kementerian Pertanian. (2020a). Rencana strategis kementerian pertanian 2020-2024. Kementerian Pertanian Republik Indonesia.
  35. Kementerian Pertanian. (2020b). Statistik lahan pertanian tahun 2015-2019. Pusat Data dan Sistem Informasi Pertanian Kementerian Pertanian, Sekretariat Jenderal- Kementerian Pertanian. http://epublikasi.setjen.pertanian.go.id/arsip-perstatistikan/167-statistik/statistik-lahan
  36. Khan, B. M., Ghafoorzai, A. S., Patel, I., & Shehbaz, M. D. (2021). Waqf based Islamic fintech model for agriculture sector of Indonesia. International Journal of Business Ethics and Governance, 4(1), 73–85. https://doi.org/10.51325/ijbeg.v4i1.61
  37. Kontan.co. (2021). Bappenas Usul Lahan Baku Sawah Dijadikan Wakaf Untuk Cegah Alih Fungsi Lahan. Https://Newssetup.Kontan.Co.Id. https://nasional.kontan.co.id/news/cegah-alih-fungsi-lahan-bappenas-usul-lahan-baku-sawah-dijadikan-wakaf
  38. Majid, R. (2021a). Mudharabah linked waqf : Inovasi model pembiayaan berkelanjutan untuk UMKM, Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah. 3(1), 102–118. https://doi.org/10.47467/alkharaj.v3i1.267
  39. Majid, R. (2021b). Designing salam-muzara’ah linked waqf to financing agricultural sector. Journal of Islamic Monetary Economics and Finance, 7(3), 503–526. https://doi.org/10.21098/jimf.v7i3.1309
  40. Majid, R. (2021c). The model of Islamic social fund (zakah, infaq, sadaqah, and waqf) utilization through synergy of the mosque-baitul maal wat tamwil as an economic stimulus for micro and small enterprises. In Islamic Sosial Finance and Its Role for Achieving Sustainable Development Goals: Islamic Economics Winter Course (1st Ed, p. 227). IPB Press. https://books.google.co.id/books?hl=en&lr=&id=LAYlEAAAQBAJ&oi=fnd&pg=PA227&dq=related:p1Gid5XkOncJ:scholar.google.com/&ots=lpPzuQaYlI&sig=tK6UpCcjhO-XL-h_1D2eTk1WJc4&redir_esc=y#v=onepage&q&f=false
  41. McCulloch. (2004). Documentary Research in Education, History and the Social Sciences. Taylor & Francis Group.
  42. Mechiche-Alami, A., Yagoubi, J., & Nicholas, K. A. (2021). Agricultural land acquisitions unlikely to address the food security needs of African countries. World Development, 141, 105384. https://doi.org/10.1016/j.worlddev.2020.105384
  43. Mitrawakaf.or.id. (2017). Tanah Wakaf Nganggur 420 Ribu Ha. Mitrawakaf.or.Id. https://www.mitrawakaf.or.id/2017/11/22/tanah-wakaf-nganggur-420-ribu-ha/
  44. Moh’d, I. S., Omar Mohammed, M., & Saiti, B. (2017). The problems facing agricultural sector in Zanzibar and the prospects of Waqf-Muzar’ah-supply chain model: The case of clove industry. Humanomics, 33(2), 189–210. https://doi.org/10.1108/H-02-2017-0033
  45. Mohd Thas Thaker, M. A. Bin, Mohammed, M. O., Duasa, J., & Abdullah, M. A. (2016). Developing cash waqf model as an alternative source of financing for micro enterprises in Malaysia. Journal of Islamic Accounting and Business Research, 7(4), 254–267. https://doi.org/10.1108/JIABR-09-2014-0029
  46. Mulyani, A., Ritung, S., & Las, I. (2011). Potensi dan ketersediaan sumberdaya lahan untuk mendukung ketahanan pangan. Jurnal Penelitian dan Pengembangan Pertanian, 30(2), 73–80. https://doi.org/10.21082/jp3.v30n2.2011.p73-80
  47. Nurdin. (2016). Penggunaan lahan kering di DAS Limboto provinsi Gorontalo untuk pertanian berkelanjutan. Jurnal Penelitian dan Pengembangan Pertanian, 30(3), 98–107. https://doi.org/10.21082/jp3.v30n3.2011.p98-107
  48. Obaidullah, M. (2015). Enhancing food security with Islamic microfinance: Insights from some recent experiments. Agricultural Finance Review, 75(2), 142–168. https://doi.org/10.1108/AFR-11-2014-0033
  49. Okezone.com. (2017). Tanah wakaf nganggur 420 ribu HA, insentif pemerintah bisa jadi jalan keluar. Economy.Okezone.Com. https://economy.okezone.com/read/2017/11/09/320/1811073/tanah-wakaf-nganggur-420-ribu-ha-insentif-pemerintah-bisa-jadi-jalan-keluar
  50. Olaniyi, O. N., Thaker, M. A. B. M. T., Thaker, H. M. T., & Pitchay, A. A. (2014). The financing problems were facing the agricultural sector in Nigeria and the prospect of waqf-Muzara’ah-supply chain model (WMSCM). Global Review of Islamic Economics and Business, 2(1), 1–14. https://doi.org/10.14421/grieb.2014.021-01
  51. Republika. (2019). BWI: Potensi aset wakaf capai Rp 2.000 triliun per tahun. republika.co.id: https://www.republika.co.id/berita/dunia-islam/wakaf/19/09/30/pymexa383-bwi-potensi-aset-wakaf-capai-rp-2000-triliun-per-tahun
  52. Rondhi, M., Pratiwi, P. A., Handini, V. T., Sunartomo, A. F., & Budiman, S. A. (2018). Agricultural land conversion, land economic value, and sustainable agriculture: A case study in East Java, Indonesia. Land, 7(4), 1–16. https://doi.org/10.3390/land7040148
  53. Rozalinda. (2015). Manajemen wakaf produktif (1st ed.). PT RajaGrafindo Persada.
  54. Rugg, D. (2010). An introduction to triangulation. UNAIDS Monitoring and Evaluation Fundamentals. https://www.unaids.org/sites/default/files/sub_landing/files/10_4-Intro-to-triangulation-MEF.pdf
  55. Ruswandi, A., Rustiadi, E., & Mudikdjo, K. (2007). Dampak konversi lahan pertanian terhadap kesejahteraan petani dan perkembangan wilayah: Studi kasus di daerah Bandung Utara. Jurnal Agro Ekonomi, 25(2), 207–219. http://dx.doi.org/10.21082/jae.v25n2.2007.207-219
  56. Saiti, B., Dembele, A., & Bulut, M. (2021). The global cash waqf: a tool against poverty in Muslim countries. Qualitative Research in Financial Markets, 13(3), 277–294. https://doi.org/10.1108/QRFM-05-2020-0085
  57. Shafiai, M. H. M., Moi, M. R., & Ahmad, R. (2015). The potential of waqf in activating idle agricultural land. Jurnal Pengurusan, 44(2015), 141–147. https://doi.org/10.17576/pengurusan-2015-44-13
  58. Shaikh, S. A., Ismail, A. G., & Mohd Shafiai, M. H. (2017). Application of waqf for social and development finance. ISRA International Journal of Islamic Finance, 9(1), 5–14. https://doi.org/10.1108/IJIF-07-2017-002
  59. SIWAK Kemenag. (2021). Dana tanah wakaf. Kementerian Agama Republik Indonesia. http://siwak.kemenag.go.id/
  60. Sugiyono. (2018). Metode penelitian bisnis pendekatan kuantitatif, kualitatif, kombinasi, dan R&D (3rd ed.). Penerbit Alfabeta.
  61. Susilowati, S. H., & Maulana, M. (2012). Luas lahan usahatani dan kesejahteraan petani: eksistensi petani gurem dan urgensi kebijakan reforma agraria. Analisis Kebijakan Pertanian, 10(1), 17–30. http://dx.doi.org/10.21082/akp.v10n1.2012.17-30
  62. Tarmizi, E. (2020). Haram wealth in contemporary muamalah. PT Berkat Mulia Insani.
  63. Thaker, M. A. B. M. T. (2018). A qualitative inquiry into cash waqf model as a source of fi nancing for micro enterprises. ISRA International Journal of Islamic Finance, 10(1), 19–35. https://doi.org/10.1108/IJIF-07-2017-0013
  64. Thaker, M. A. M. T., Amin, M. F., Thaker, H. M. T., Khaliq, A., & Pitchay, A. A. (2020). Cash waqf model for micro enterprises’ human capital development. ISRA International Journal of Islamic Finance, 13(1), 66–83. https://doi.org/10.1108/IJIF-08-2018-0091
  65. Usman, M., & Ab Rahman, A. (2021). Funding higher education through waqf: a lesson from Pakistan. International Journal of Islamic and Middle Eastern Finance and Management, 14(2), 409–424. https://doi.org/10.1108/IMEFM-05-2019-0200
  66. Usmani, M. M. T. (2012). An Introduction to Islamic Finance. Kluwer Law International.
  67. UU No. 41 Tahun 2004. (2004). Undang-undang Republik Indonesia Nomor 41 tahun 2004 tentang wakaf. Dewan Perwakilan Rakyat Republik Indonesia. https://www.bwi.go.id/wp-content/uploads/2019/09/Undang-undang-No.-41-2004-Tentang-Wakaf.pdf
  68. Yustika, A. E. (2006). Ekonomi kelembagaan: Defenisi, teori dan strategi (Edisi Pert). Bayu Media Publishing.
  69. Yustika, A. E. (2013). Ekonomi kelembagaan: Paradigma, teori dan kebijakan. Penerbit Erlangga.
  70. Yuwono, T. (2016). Wakaf lahan pangan. Mediaindonesia.Com. https://mediaindonesia.com/opini/42781/wakaf-lahan-pangan
  71. Zabri, M. Z. M., & Mohammed, M. O. (2018). Examining the behavioral intention to participate in a cash waqf-financial cooperative-musharakah mutanaqisah home financing model. Managerial Finance, 44(6), 809–829. https://doi.org/10.1108/MF-05-2017-0189
  72. Zauro, N. A., Saad, R. A. J., Ahmi, A., & Mohd Hussin, M. Y. (2020). Integration of Waqf towards enhancing financial inclusion and socio-economic justice in Nigeria. International Journal of Ethics and Systems, 36(4), 491–505. https://doi.org/10.1108/IJOES-04-2020-0054