The Potency of Cash Waqf Linked Sukuk (CWLS) on Social Development

Aam Slamet Rusydiana; Sherrindra Avedta

doi:10.58968/jiel.v4i1.215

Authors

Aam Slamet Rusydiana SMART Indonesia
Sherrindra Avedta Istanbul Sabahattin Zaim University Turkey

DOI:

https://doi.org/10.58968/jiel.v4i1.215

Keywords:

CWLS, Research Map, Cash Waqf, Temporary Waqf, Potency

Abstract

This study aims to see the development of Cash Waqf Linked Sukuk (CWLS) research around the world and research path that can be carried out based on journals published on the theme. This research uses a qualitative method with a bibliometric analysis approach. The data used is secondary data with the theme CWLS which comes from the Dimensions database with a total of 60 journal articles. Then, the data was processed and analyzed using the VosViewer application with the aim of knowing the bibliometric map of CWLS research development in the world. The results of the study found that based on bibliometric keyword mapping, there are 4 clusters that can become research paths with topics related to (1)Social Development and CWLS, (2)Economic Development and CWLS, (3)Covid-19 Pandemic and CWLS and (4)MSME Development and CWLS. The author also tries to make a simulation of the impact of CWLS based on its potential, as well as the possible allocation for SDGs projects.

Downloads

Download data is not yet available.

References

Anindhita, A. E., & Widana, I. O. (2022). Optimizing the Role of Cash Waqf Linked Sukuk for State Development. Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah, 14(1), 185-212.

As-Salafiyah, A. (2022). Formulating Halal-based Hospital Indicators. Halal Tourism and Pilgrimage, 2(1).

As-Salafiyah, A., & Rusydiana, A. S. (2022). Finding Waqf Literacy Strategies for Millennials. International Journal of Waqf, 2(1).

Cahyono, E. F., & Hidayat, S. E. (2022). Cash Waqf and The Development: A Case Study of Cash Waqf Linked Sukuk in Indonesia. El Barka: Journal of Islamic Economics and Business, 5(1), 150-182.

Faradis, J., Hardjito, A., & Widayanti, I. (2019). Peran pemerintah dalam optimalisasi tanah wakaf. Al- Awqaf: Jurnal Wakaf dan Ekonomi Islam, 12(1), 10- 26.

Fauziah, N. N., Ali, E. R. A. E., & Bacha, A. M. (2021). An analysis of cash waqf linked sukuk for socially impactful sustainable projects in Indonesia. Journal of Islamic Finance, 10, 001-010.

Hadyantari, F. A. (2018). Pemberdayaan Wakaf Produktif: Upaya Strategis untuk Kesejahteraan Ekonomi Masyarakat. Jurnal Middle East and Islamic Studies, 5(1), 1-22.

Hafandi, A., & Handayati, P. (2021). Is Cash Waqf Linked Sukuk (CWLS) Less Than Ideal According to Islamic Laws?. Studies of Applied Economics, 39(12).

Hasan, H., Azmi, N. F., Mud, N. N. N., & Ahmad, I. (2020). Waqf efficiency: CRS, VRS and malmquist total factor productivity index via data envelopment analysis (DEA). International Journal of Innovation, Creativity and Change, 10(10), 71–83.

Herindar, E., & Rusydiana, A. S. (2021). Measuring Efficiency of Waqf Fund: Evidence in Indonesia Evania. AL-AWQAF: Jurnal Wakaf Dan Ekonomi Islam, 14(2), 107–122.

Ikhwan, I. (2021). Text analytic on halal research. Journal of Islamic Economic Literatures, 2(2).

Izza, N. N. (2022). A Scientometric Analysis on Halal Awareness. Halal Tourism and Pilgrimage, 2(1).

Izza, N. N. (2021). Review on Zakat Performance Studies using NVivo-12. Islamic Social Finance, 1(1).

Kementrian Keuangan. (2023, Maret 31). Kementerian Keuangan Republik Indonesia Manajemen Situs Kemenkeu. Diambil kembali dari Sukuk Wakaf: https://web.kemenkeu.go.id/cwls

Khairunnisa, H. L., & Uula, M. M. (2022). Islamic Financial Planning: How Far Has Been Researched?. Fara’id and Wealth Management, 2(2).

Khamis, S. R., & Che Mohd Salleh, M. (2018). Study on the Efficiency of Cash Waqf Management in Malaysia. Journal of Islamic Monetary Economics and Finance, 4(1), 61–84. https://doi.org/10.21098/jimf.v4i1.732

Kholiq, M., Fikriiadi, M., & Sahnan, M. (2022). Ibn Khaldun Economic Thought: A Literature Review and Bibliometric Analysis. Islamic Economic and History, 1(1).

Maesarach, R. M., Mulato, T., & Rodoni, A. (2022). Sukuk Linked Wakaf For MSME Develpoment. BASKARA: Journal of Business and Entrepreneurship, 5(1), 95-107.

Mudriqoh, S. (2023). Potensi Cash Waqf Linked Sukuk sebagai Sumber Pembiayaan Pemulihan Perekonomian Nasional Di Masa Pandemi Covid-19 (2021-2022). El-Jizya: Jurnal Ekonomi Islam, 11(1), 49-70.

MUFIDAH, K. (2022). Systematic Literature Review Cash Wakaf Linked Sukuk Tahun 2018-2022. https://dspace.uii.ac.id/handle/123456789/41824

Muhsin, Sri Cahyani, I., & Dhiyaul Wafa, F. (2023). Cash Waqf Linked Sukuk: Potential Mapping of Cash Waqf in Micro, Small and Medium Enterprises (MSMEs) . LAA MAISYIR : Jurnal Ekonomi Islam, 10(1), 25-43.

Mukti, T., Khomariah, S., Yusra, M., Hadikusuma, S., & Muttaqin, Z. (2022). Click CWLS as a Solution to Improve Community's Understanding of Sukuk Linked Sukuk Cash Products. KnE Social Sciences, 297-305.

Musari, K. (2022). Integrating green sukuk and cash waqf linked sukuk, the blended Islamic finance of fiscal instrument in Indonesia: A proposed model for fighting climate change. International Journal of Islamic Khazanah, 12(2), 133-144.

Putri, N. A. (2021). Optimization Cash Waqf Linked Sukuk (CWLS) to Support the Development of Social Investment and Productive Waqf.

Putri, F. I. (2022). Islamic Bank Productivity: Analysis of Research Path. Review on Islamic Accounting, 2(2).

Pyeman, J., Hasan, H., & Ahmad, I. (2016). Modernizing Waqf Performance Evaluation By Waqf Management Efficiency Index. Asia-Pacific Management Accounting Journal, 11(2), 1–7.

Rahman, M. I. F., Nurwahidin, N., & Adnan, N. (2021). Analisis Model Cash Waqf Linked Sukuk (CWLS) Sebagai Instrumen Pembiayaan Pemulihan Dampak Pandemi Covid-19: An Analysis of Cash Waqf Linked Sukuk (CWLS) Model as a Financing Instrument for Economic Recovery from Covid-19 Pandemic Impact. Jurnal Bimas Islam, 14(1), 77-102.

Riani, R. (2021). A Literature Review on Islamic Donation. International Journal of Waqf, 1(1).

Sari, M. (2022a). Development of Islamic Microfinance. Tamkin Journal, 1(1).

Sari, M. (2022b). Halal Food Quality and The SDG-3 Goal. Halal Tourism and Pilgrimage, 2(1).

Sasongko, F. N., Astuti, T. W., & Muttaqin, M. S. (2021). Cash Waqf Linked Sukuk: Potential and Challenges. Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE), 4(1), 190-200.

Siswantoro, S. (2022). Cash Waqf Linked Sukuk model for export micro, small, and medium enterprises financing affected by Covid-19 pandemic: Indonesian study. Asian Management and Business Review, 24-38.

Sukmadilaga, C., Puspitasari, E., Yunita, D., Nugroho, L., & Ghani, E. K. (2021). Priority Factor Analysis on Cash Waqf Linked Sukuk (CWLS) Utilization in Indonesian Shariah Capital Market. Academy of Accounting and Financial Studies Journal, 25(5), 1-14.

Sulaeman, S., Zubaidah, S., & Nur’atikah, T. (2022). Optimization of Cash Waqf Linked Sukuk (CWLS) for supporting Indonesia’s economic recovery post-Covid-19 era. Review of Islamic Social Finance and Entrepreneurship, 121-130.

Tanjung, H., & Windiarto, A. (2021). Role of cash waqf linked sukuk in economic development and international trade. Signifikan: Jurnal Ilmu Ekonomi, 10(2), 275-290.

Ubaidillah, U., Masyhuri, M., & Wahyuni, N. (2021). Cash Waqf Linked Sukuk (CWLS): An Alternative Instrument for Infrastructure Financing. Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE), 4(1), 35-49.

Uula, M. M. (2022). Productivity of Waqf Funds in Indonesia. International Journal of Waqf, 2(1).

Yasin, R. M. (2021). Cash waqf linked sukuk: issues, challenges and future direction in Indonesia. JEBIS: Jurnal Ekonomi dan Bisnis Islam, 7(1).

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.