COOPERATIVE SUKUK, A LOCAL WISDOM OF ISLAM NUSANTARA
Salah satu konsep kelembagaan ekonomi dan keuangan Islam yang berkembang saat ini adalah sukuk. Sebagai sebuah instrumen pembiayaan, sukuk merupakan alternatif yang lebih baik daripada utang karena adanya unsurunsur kerjasama investasi, berbagi risiko, dan keterlibatan aset atau proyek nyata sebagai dasar penerbitannya. Di Indonesia, sukuk telah diimplementasikan oleh koperasi Gabungan Kelompok Tani untuk membiayai modal kerja petani di sektor riil. Hal ini menjadi penting untuk dikaji karena industri keuangan syariah global umumnya tidak mengenal sukuk pada level lembaga keuangan mikro. Selain itu, kebanyakan aplikasi sukuk selama ini lebih mengalirkan dana kepada sektor keuangan. Hal ini membuktikan keberadaan keuangan Islam sebagai kearifan lokal Islam Nusantara tercermin dari penerbitan sukuk untuk keuangan mikro. Melalui wawancara dengan koperasi Gabungan Kelompok Tani sebagai penerbit sukuk dan melakukan kajian literatur, studi berbasis web, dan mempelajari pengalaman organisasi terkait sukuk wakaf dan bisnis komoditas, studi ini bermaksud untuk memperkenalkan sukuk koperasi untuk keuangan mikro di Indonesia dan mengusulkan model-model bagi koperasi untuk dapat membiayai modal kerja petani. Secara keseluruhan, makalah ini memiliki misi untuk mendorong temuantemuan kearifan lokal Islam Nusantara untuk dapat menjadi studi empiris yang memperkaya pengetahuan tentang ekonomi dan keuangan Islam.
Downloads
References
AAOIFI. The Exposure on Shari’a Standard No. 18 of Investment Sukuk. The Accounting and Auditing Organisation Of Islamic Financial Institutions (AAOIFI), Adopted by Shari‟a Board in its meeting No. 9. Held on 11–16 Ramadan 1423 H, corresponding to 16-21. Bahrain. (November, 2003).
Abdul-Karim, Shamsiah. Contemporary Waqf Administration and Development In Singapore: Challenges And Prospects. In proceeding Singapore International Waqf Seminar on Integrating Awqaf in the Islamic Financial Sector, Singapore. (6-7 March, (2007).
Abdul-Karim, Shamsiah. Contemporary Shari’ah Structuring for The Development and Management of Waqf Assets in Singapore. Durham Theses, Durham University. (2010). Available at Durham E-Theses Online: http://etheses.dur.ac.uk /778/
Adam, Nathif Jama. Sukuk: A Panacea for Convergence and Capital Market Development in the OIC Countries. A paper presented at 6th International Conference on Islamic Economic and Finance. Jakarta. (21-24 November, 2005).
Ali, Salman Syed. New Sukuk Products, A Case for Microfinance Sector. A presentation at Islamic Financial Markets Conference and Specialized Workshops at Marriot Hotel, Karachi. Islamic Research and Training Institute (IRTI). (24-25 January, 2007).
Ayub, Muhammad. Securitization, Sukuk and Fund Management Potential to be Realized by Islamic Financial Institutions. A paper presented at 6th International Conference on Islamic Economic and Finance. Jakarta (21-24 November 2005).
Benyounis, Husain. Management Challenges of Awqaf Assets. A presentation at World Islamic Economic Forum Islamic Development Bank (WIEF-IDB) Awqaf Roundtable „Beyond Charity: Harnessing Waqf for Economic Prosperity‟ in Jakarta. (5 June, 2014).
Benyounis, Husain. Why There Is A Need To Engineer The Awqaf Industry: Awqaf NZ Experiece. A presentation at International Centre for Waqf Research (ICWR) Monthly Waqf Talk Series (18 September, 2015).
Daneshfar, Alireza, Farhad Simyar, Michael Rolleri & Robert Wnek. Motives for Employee Profit Sharing Schemes in the U.S., U.K., and Canada. In International Business & Economics Research Journal, Vol. 9, No. 10 (October 2010): 1-9.
Hassan, M. Kabir. An Integrated Poverty Alleviation Model Combining Zakat, Awqaf and Micro-Finance. A paper was presented at Seventh International Conference – The Tawhidi Epistemology: Zakat and Waqf Economy. Bangi. (2010).
IIFM. Sukuk Report 2nd: A Comprehensive Study of The Global Sukuk Market. Manama: International Islamic Financial Market (IIFM). (May 2011).
Iqbal, Zamir & and Abbas Mirakhor. Pengantar Keuangan Islam: Teori dan Praktik. Terjemahan. Edisi Pertama. Jakarta: Kencana, 2008).
Ismal, Rifki. Strengthening and Improving and The Liquidity Management In Islamic Banking. In Humanomics. Volume 26. No. 1 (2010).
Kahf, Monzer. Instruments of Meeting Budget Deficit In Islamic Economy. Research Paper No. 42 1417 H. Jeddah: Islamic Research and Training Institute - Islamic Development Bank (IRTI-IDB). (1997).
Musari, Khairunnisa. Money Creation vs Money Velocity: Sukuk Menjaga Stabilitas Perekonomian Nasional. A paper would be presented at Sharia Economic Day (SEconD) 2010, The National Conference on Islamic Economics and Finance “Sukuk and Development Challenge in Indonesia”. Fakultas Ekonomi Universitas Indonesia (FE UI). (2-3 February, 2010).
Musari, Khairunnisa. Analysis of The Difference between Before and After The Issuance of Sovereign sukuk to The Financial of State
and Well-Being of Society in Bahrain, Malaysia, and Indonesia. In International SAMANM Journal of Finance and Accounting, Vol. 1, No. 2. (July, 2013a): 32-46.
Musari, Khairunnisa. Analysis of The Influence of Issuance of Sovereign Ṣukūk to The Autonomy of State Financial and Well-Being of Society in the Kingdom of Bahrain and the Republic of Indonesia. In Australian Journal of Islamic Banking and Finance (AJIBF), Volume 2, No. 1. June. Brisbane: Australian Centre for Islamic Financial Studies (ACIFS). (Desember, 2013b): 59-84.
Musari, Khairunnisa. Sukuk for Microfinance through Linkage Program: Case Study in Indonesia. A paper was presented at The 10th International Conference on Islamic Economics And Finance (ICIEF) held by Islamic Research and Training Institute - Islamic Development Bank (IRTI-IDB) and Qatar Foundation. Doha, Qatar. (23-23 March, 2015).
Musari, Khairunnisa. A Local Wisdom Of Islam Nusantara: Sukuk For Microfinance. A paper was presented at Weekly Discussion of Centre for Islamic Studies, Culture, Society (PPIKM), Faculty of Ushuluddin, Adab & Humaniora, State Institute of Islamic Studies (IAIN) Jember. (19 April, 2016a).
Musari, Khairunnisa. Nanofinance, Redefine The Microfinance For The Very Micro Society: A Discussion Paper. A poster was presented at The 13th Indonesian Regional Science Association International Institute (IRSA) & was hosted by Department of Economics, Faculty of Economics and Business, Brawijaya University, at Atria Hotel, Malang. (July 25th-26, 2016b).
Musari, Khairunnisa. Economic Sustainability for Islamic Nanofinance through Sukuk-Waqf Linkage Program (Case Study in Indonesia). A paper would be presented at the International Congress on Political, Economic, and Social Studies (ICPESS-2016) held by Organizer Sakarya University and the Center for Political, Economic, and Social, Istanbul. (August 24-26, 2016c).
Musari, Khairunnisa & Zainuri. Menggagas Sukuk BMT untuk Pembiayaan Mikro Syariah melalui Linkage Program. In Sunarko, Bagus
Sigit & Zakaria bin Bahari, Ekonomi Syari’ah Terkini: Perspektif, Metodologi, dan Praktek. Jember: University of Jember & Center for Islamic Development Management Studies (ISDEV) Universiti Sains Malaysia (2014): 481-494.
Rodoni, Ahmad & Abdul Hamid. Lembaga Keuangan Syariah. Jakarta: Zikrul Hakim, 2008).
Simanjuntak, Rusli & Khairunnisa Musari. Enhancing The Local Wisdom of Indonesian Sukuk: Financing The Cocoa Farmers Through Sukuk Linkage Program (Case Study Gapoktan Guyub Santoso Blitar). A paper was presented at The International Conference on Islamic Economic Studies (ICIES) „Strengthening the Islamic Economic Institution toward the Global Economy Market‟, Fakultas Ekonomi dan Bisnis Islam (FEBI), IAIN Surakarta, at Lor Inn Hotel, Solo. (22 October, 2014).
Sukmana, Raditya. Islamic Microfinance and Sukuk: A Propose Regulatory Framework for Liquidity issue in Indonesia. A paper was presented at Roundtable Discussion on Regulatory and Supervisory Framework in Islamic Microfinance. (March, 2014): 18-19.
Waluyanto, Rahmat. Pengelolaan Utang Pemerintah: Surat Utang Negara, Surat Berharga Syariah Negara, dan Pinjamam Luar Negeri. In Abimanyu & Megantara (Eds.). Era Baru Ketahanan Fiskal: Pemikiran, Konsep, dan Implementasi. Jakarta: Kompas, (2009).
April. Pp. 463-508.
Articles at Newspaper/Magazines Ali, Suleman Muhammad. Islamic Microfinance Securitization: Structuring a Sukuk Musharakah. In Islamic Finance News, 7 (September 2011).
Azra, Azyumardi. Islam Nusantara (1). Kolom Resonansi. In Republika Newspaper Daily. (18 Juni 2015a). Retrieved from http://www. republika.co.id/berita/kolom/resonansi/ 15/06 /17/nq3f9n-islam-nusantara-1.
Azra, Azyumardi. Islam Nusantara (2). Kolom Resonansi. In Republika Newspaper Daily. (25 Juni 2015b). Retrieved from http://www.republika.co.id/berita/kolom/resonansi/15/06/25/nqgl54-islam-nusantaraislam-indonesia-2.
Ismal, Rifki & Khairunnisa Musari. Menggagas Sukuk sebagai Instrumen Fiskal dan Moneter. In Opini, Bisnis Indonesia Daily Newspaper, (1 April (2009a): 4.
Ismal, Rifki & Khairunnisa Musari. Sukuk, Menuju Instrumen Fiskal dan Moneter. Wacana. In SHARING, Islamic Economics Business Magazine, Edition 28, Year III (April, 2009b): 58.
Ismal, Rifki & Khairunnisa Musari. Sukuk Menjawab Resesi. In Ekonomia, Republika Daily Newspaper, (23 March 2009c).
Downloads
Published
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
This work is licensed under a Attribution-NonCommercial 4.0 International (CC BY-NC 4.0).
Al'Adalah licensed under Creative Commons Attribution-NonCommercial 4.0 International License.