Analysis of the implementation of the waqf core principles on institutional financial performance waqf in Tanjungbalai, North Sumatera

https://doi.org/10.35912/ijfam.v6i1.1629
Published: Aug 21, 2024

Abstract:

Purpose: To analyze the effect of implementing a legal foundation, waqf supervision, good waqf governance, risk management, and Sharia governance on the financial performance of waqf institutions.

Research Methodology: The research approach used in this study is a quantitative approach, with an associative type of quantitative research and a correlational quantitative research design that examines the relationship between two variables. The research data were analyzed using the SPSS statistical software.

Results: The implementation of legal foundation, waqf supervision, good waqf governance, risk management, and Sharia governance have a positive and significant effect on the financial performance of the waqf institution in Tanjungbalai city. Then, based on the multiple linear regression equation, the variable that has the greatest influence on the financial performance of the waqf institution (Y) is good waqf governance (X3), followed by risk management (X4), Sharia governance (X5), legal foundation (X1), and Waqf supervision (X2).

Limitations: As the scope of the search is not biased, it can focus more on avoiding errors in the objectives to be achieved. This study focuses on the implementation of the Waqf Core Principles for the financial performance of waqf institutions.

Contributions: The results of this study may constitute a reference and provide information for future researchers who will discuss the development of waqf in North Sumatra. Thus, this research can be used as an input for recommendations to improve staffing institutions. The results of this study can be used as a basis for further study, revision, and development than previous research.

Keywords:
1. Legal Foundation
2. Waqf Supervision
3. Good Waqf Governance
4. Risk Management
5. Sharia Governance
Authors:
1 . Suhailah Suhailah
UIN Sumatera Utara Medan, Indonesia
2 . Muhammad Ramadhan
University of North Sumatra, Indonesia
3 . Marliyah Marliyah
UIN Sumatera Utara Medan, Indonesia
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How to Cite
Suhailah, S., Ramadhan, M., & Marliyah, M. (2024). Analysis of the implementation of the waqf core principles on institutional financial performance waqf in Tanjungbalai, North Sumatera. International Journal of Financial, Accounting, and Management, 6(1), 151–164. https://doi.org/10.35912/ijfam.v6i1.1629
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Issue & Section
Vol. 6 No. 1 (2024): June
Articles
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References

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    Bora, Y., Fanggidae, R. E., & Fanggidae, A. H. (2023). Analysis of the role of online transportation on tourism development (A study of tourists on users of grab online transportation services in kupang city). Journal of Multidisciplinary Academic and Practice Studies, 1(1), 1-10.

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  1. Afifah, A. A. N. (2021). ANALISIS PRINSIP GOOD COORPORATE GOVERNANCE DALAM PENGELOLAAN WAKAF PRODUKTIF DI YAYASAN SEKOLAH ISLAM TERPADU (SIT) AL-FURQON. Jurnal I-Philanthropy: A Research Journal On Management Of Zakat and Waqf, 1(1), 1-16.
  2. Afnan, D., Wijaya, M., Kartono, D. T., & Wibowo, A. (2024). Sustainability strategy: Strengthening SDGs desa through CSR communication program. Journal of Sustainable Tourism and Entrepreneurship, 5(3), 179-190.
  3. Anwar, S. (2020). Urgency of waqf land registration in the context of Indonesian land reform. Journal of Law and Legal Reform, 1(3), 479-492.
  4. Baron, J. V., & Cruz, J. A. D. (2023). The spiral progression approach in teaching science: Its Volatilities, Uncertainties, Complexities, and Ambiguities (VUCA). Journal of Social, Humanity, and Education, 3(2), 89-103.
  5. Bora, Y., Fanggidae, R. E., & Fanggidae, A. H. (2023). Analysis of the role of online transportation on tourism development (A study of tourists on users of grab online transportation services in kupang city). Journal of Multidisciplinary Academic and Practice Studies, 1(1), 1-10.
  6. Campanilla, N. S., & Mendoza, C. R. (2024). Error pattern analysis of the Mathematics problem solving of grade 10 learners. Journal of Social, Humanity, and Education, 4(4), 245-262.
  7. Dzulfikry, R., Bundu, P., & Saud, S. (2024). Interactive Biology media learning development based on Google Site to developing the learning result. Journal of Multidisciplinary Academic Business Studies, 1(3), 269-282.
  8. Firdaus, N., Nuruddin, A., & Hasmawati, F. (2019). Analisis Problematika Manajemen Investasi Wakaf Uang Pada Lembaga Wakaf Uang Di Sumatera Barat (Studi Pendekatan Analitical Network Proccess). JURIS (Jurnal Ilmiah Syariah), 18(2), 137-152.
  9. Hassan, R., & Yusoff, A. (2020). Enhancing good governance practices of waqf institutions: learning from Shariah governance framework of Islamic financial institutions. International Journal of Islamic Economics and Finance Research, 3(2 December), 65-76.
  10. Kencana, U., & Hadi, A. (2016). Wakaf Uang dalam Perspektif Hukum dan Politik. Nurani: Jurnal Kajian Syari'ah dan Masyarakat, 16(2), 141-170.
  11. Komakech, E., Obici, G., & Mwesigwa, D. (2021). Efficacy of inspirational motivation on the performance of public health workers in mid-north of Uganda.
  12. Latief, A. (2018). Analisis pengaruh produk, harga, lokasi dan promosi terhadap minat beli konsumen pada warung wedang jahe (Studi Kasus Warung Sido Mampir di Kota Langsa). Jurnal Manajemen Dan Keuangan, 7(1), 90-99.
  13. Masruroh, S. (2021). Analisis Pengelolaan Dana Wakaf dengan Pendekatan Waqf Core Principles pada Baitul Maal wa Tamwil Bismillah Kendal, Jawa Tengah.
  14. Nurjannah, N., & Abdullah, M. W. (2020). Cash waqf: Economic solution during the Covid-19 pandemic. FITRAH: Jurnal Kajian Ilmu-Ilmu Keislaman, 6(2), 223-242.
  15. Olayinka, A. A., & Mustapha, S. (2022). Analysing financial performance of listed cement industries in Nigeria: Financial Ratio Approach. Annals of Management and Organization Research, 3(4), 231-244.
  16. Satriyaningtyas, T. (2020). Implementasi Good Waqf Governance dalam Pengelolaan Aset Wakaf di Pondok Modern Darussalam Gontor Putri Mantingan.
  17. Sugiyono, P. (2015). Metode penelitian kombinasi (mixed methods). Bandung: Alfabeta, 28, 1-12.
  18. Sulistiani, S. L., Bayuni, E. M., & Yunus, M. (2018). Analisis hukum Islam terhadap pengembangan wakaf berbasis sukuk untuk pemberdayaan tanah yang tidak produktif di Indonesia. Ijtihad: Jurnal Wacana Hukum Islam dan Kemanusiaan, 18(2), 175-192.
  19. Syamsir, R. (2015). The economic empowerment of the Ummah on the basis of productive waqf in West Sumatra, Indonesia. International Journal of Nusantara Islam, 3(1), 31-46.
  20. Syamsuri, S., Putra, D., Jamil, M., Kapriani, Syam, A., Gunaisah, E., . . . Wardhana, A. (2021). Pengantar Kewirausahaan: Tranformasi Digital Kewirausahaan.
  21. Thalib, M. A. (2023). Reflection of Local Cultural Values behind Loss Accounting Practices by Ilabulo Sellers. International Journal of Accounting and Management Information Systems, 1(2), 97-107.