Melola Discovery

← Melola Discovery

Jurnal

Sukuk Linked Waqf (An Analytical Study on the Development of a Productive Waqf Asset Management Model in Indonesia)

Educational Leadership and Management Journal · Vol. 4 No. 1 (2026) · hlm. 1–9

DOI
10.22437/element.v4i1.54787
ISSN
3031-4712
Terbit
2026-05-05
Penerbit
FKIP Universitas Jambi
Bahasa
en

Abstrak

The This study aims to develop an integrated model of Sukuk-Linked Waqf to optimize unproductive waqf assets in Indonesia. Despite the vast potential of waqf assets, their utilization remains suboptimal due to limited managerial capacity, lack of innovation, and weak governance. This research adopts a qualitative approach combined with the Analytical Network Process (ANP) to identify key determinants influencing the effectiveness of waqf management. The results show that the consistency ratio (CR) values across stakeholders—Badan Wakaf Indonesia (0.08), Otoritas Jasa Keuangan (0.07), Dewan Syariah Nasional Majelis Ulama Indonesia (0.06), Bank Syariah Indonesia (0.09), investors (0.08), and practitioners (0.07)—are all below the acceptable threshold of 0.10, indicating reliable and consistent judgments. In terms of priority criteria, transparency (0.26) and regulatory support (0.22) are identified as the most influential factors, followed by public trust (0.20), institutional efficiency (0.18), and socialization or financial literacy (0.14). The study proposes an Integrated Sukuk–Waqf Synergy Model (ISWSM) as an innovative solution that integrates Islamic social finance and capital market instruments through a digital platform. The proposed model enables sustainable financing by combining philanthropic and commercial funds through a blended finance approach. This research contributes theoretically by enriching Islamic social finance literature and practically by offering an implementable model for stakeholders. It also provides policy implications for strengthening governance and developing innovative financing mechanisms to support sustainable socio-economic development.

Kata kunci

Jaringan kolaborasi para penulis

40 penulis · 80 tautan kepenulisan bersama · menampilkan 40 yang paling banyak terhubung

Arahkan kursor atau ketuk sebuah nama untuk menyorot rekan penulisnya. Klik dua kali untuk membuka halaman penulis.

  • State University of Semarang
  • Institut Teknologi Sepuluh Nopember
  • Universitas Islam Negeri Maulana Malik Ibrahim
  • Gunadarma University
  • Afiliasi tidak diketahui
  • Organisasi berbeda
  • Organisasi sama
  • Afiliasi tidak diketahui
  • Garis lebih tebal = lebih banyak artikel bersama · lingkaran lebih besar = lebih banyak artikel
Tampilkan sebagai tabel
Rekan penulisOrganisasiArtikel bersama
Nova RiniAfiliasi tidak diketahui3
Any SetianingrumAfiliasi tidak diketahui2
Muslikh MuslikhAfiliasi tidak diketahui2
Budiman BasoInstitut Teknologi Sepuluh Nopember1
RisaldAfiliasi tidak diketahui1
Rika WulandariAfiliasi tidak diketahui1
Shavika MirantiAfiliasi tidak diketahui1
Wildana WargadinataUniversitas Islam Negeri Maulana Malik Ibrahim1
Shofil FikriAfiliasi tidak diketahui1
SujarwoAfiliasi tidak diketahui1
Ridho Gata WijayaAfiliasi tidak diketahui1
Samsul ArifinAfiliasi tidak diketahui1
Mukh DoyinAfiliasi tidak diketahui1
U’um QomariyahAfiliasi tidak diketahui1
Ali MurtadhoAfiliasi tidak diketahui1
Mungin Eddy WibowoAfiliasi tidak diketahui1
Prihandoko PrihandokoGunadarma University1
Alfa Yuliana DewiAfiliasi tidak diketahui1
Novi Ratna DewiState University of Semarang1
Arif WidiyatmokoState University of Semarang1
Andreas Priyono Budi PrasetyoState University of Semarang1
Silvi Leila RahmiAfiliasi tidak diketahui1
addion nizoriAfiliasi tidak diketahui1
Indra Lasmana TariganAfiliasi tidak diketahui1
Madyawati LatiefAfiliasi tidak diketahui1
Annisa Candra NabilaAfiliasi tidak diketahui1
Yus Aniza YusofAfiliasi tidak diketahui1
Stephen K. Kanten MontenAfiliasi tidak diketahui1
Frederick AdziteyAfiliasi tidak diketahui1
Juliana BawahAfiliasi tidak diketahui1
DepisonAfiliasi tidak diketahui1
Nur Raudhatul Syahindah Mohd RadziAfiliasi tidak diketahui1
Noroul Asyikeen ZulkifliAfiliasi tidak diketahui1
Ishamri IsmailAfiliasi tidak diketahui1
Md. Murad HossainAfiliasi tidak diketahui1
Mahmudul Hasan MithunAfiliasi tidak diketahui1

Afiliasi berasal dari OpenAlex; metadata OAI-PMH jurnal tidak memuatnya. Penulis tanpa ID OpenAlex dicocokkan berdasarkan nama, sehingga dua orang bisa tergabung atau satu orang bisa terpisah.

Sumber metadata: OAI-PMH (metadata jurnal) https://online-journal.unja.ac.id/index.php/element/oai, pertama di-harvest 6 Nov 2026, terakhir terlihat 8 Nov 2026.
Metadata asli (oai_dc) 
<oai_dc:dc xmlns="http://www.openarchives.org/OAI/2.0/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:oai_dc="http://www.openarchives.org/OAI/2.0/oai_dc/" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.openarchives.org/OAI/2.0/oai_dc/  http://www.openarchives.org/OAI/2.0/oai_dc.xsd">
	<dc:title xml:lang="en">Sukuk Linked Waqf (An Analytical Study on the Development of a Productive Waqf Asset Management Model in Indonesia)</dc:title>
	<dc:creator xml:lang="en">Qodri, Muhammad</dc:creator>
	<dc:creator xml:lang="en">Nurhayati, Immas</dc:creator>
	<dc:creator xml:lang="en">Huda, Nurul</dc:creator>
	<dc:creator xml:lang="en">Tanjung, Hendri</dc:creator>
	<dc:subject xml:lang="en">sukuk; waqf; islamic finance; blended finance; governance</dc:subject>
	<dc:description xml:lang="en">The This study aims to develop an integrated model of Sukuk-Linked Waqf to optimize unproductive waqf assets in Indonesia. Despite the vast potential of waqf assets, their utilization remains suboptimal due to limited managerial capacity, lack of innovation, and weak governance. This research adopts a qualitative approach combined  with the Analytical Network Process (ANP) to identify key determinants influencing the effectiveness of waqf management. The results show that the consistency ratio (CR) values across stakeholders—Badan Wakaf Indonesia (0.08), Otoritas Jasa Keuangan (0.07), Dewan Syariah Nasional Majelis Ulama Indonesia (0.06), Bank Syariah Indonesia (0.09), investors (0.08), and practitioners (0.07)—are all below the acceptable threshold of 0.10, indicating reliable and consistent judgments. In terms of priority criteria, transparency (0.26) and regulatory support (0.22) are identified as the most influential factors, followed by public trust (0.20), institutional efficiency (0.18), and socialization or financial literacy (0.14). The study proposes an Integrated Sukuk–Waqf Synergy Model (ISWSM) as an innovative solution that integrates Islamic social finance and capital market instruments through a digital platform. The proposed model enables sustainable financing by combining philanthropic and commercial funds through a blended finance approach. This research contributes theoretically by enriching Islamic social finance literature and practically by offering an implementable model for stakeholders. It also provides policy implications for strengthening governance and developing innovative financing mechanisms to support sustainable socio-economic development.</dc:description>
	<dc:publisher xml:lang="en">FKIP Universitas Jambi</dc:publisher>
	<dc:date>2026-05-05</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://online-journal.unja.ac.id/element/article/view/54787</dc:identifier>
	<dc:identifier>10.22437/element.v4i1.54787</dc:identifier>
	<dc:source xml:lang="en">Educational Leadership and Management Journal; Vol. 4 No. 1 (2026):  Element - 2026; 1-9</dc:source>
	<dc:source>3031-4712</dc:source>
	<dc:language>en</dc:language>
	<dc:relation>https://online-journal.unja.ac.id/element/article/view/54787/24257</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2026 Educational Leadership and Management Journal</dc:rights>
</oai_dc:dc>