Sharia Green Economy : Waqf For Sustainable Funding
Abstract
The era of collaboration is applied to the concept of mutual cooperation in crowdfunding as a concept of fundraising, or what is known as crowdfunding. Indonesia legitimised the commercial crowdfunding system through OJK Regulation Number 37 of 2018 concerning equity crowdfunding. The regulation was replaced by OJK Regulation Number 57 of 2020 concerning securities crowdfunding and added to streamline technical matters through OJK Regulation Number 16 of 2021. At the beginning of the regulation, the securities offered were limited to equity types. The change in regulation developed a variety of securities of the sukuk and debt types. In May 2024, the sukuk amounted to 105 securities with a percentage of control of 30% of the total securities, totaling 356 securities consisting of 231 equity and 20 debt. The capitalization of the sukuk increased from the number of sukuk in August 2023, which amounted to 59 with a percentage of control of 22% of the total securities. This growth provides an opportunity for waqf philanthropy to fund business actors and a strategy for nazhir and wakif to produce sustainable waqf assets. Normative legal research classified as qualitative research is used in this study using a legislative and conceptual approach by relying on integrative legal theory in examining the integration of the waqf concept in Law Number 41 of 2004 concerning waqf with the concept of securities crowdfunding funding in Financial Services Authority Regulation Number 57 of 2020, both as primary data sources and data on the growth of effects from OJK and KSEI as secondary data in this study, which will be analysed using descriptive analytical and integrative methods. This study finds an interconnection of waqf regulations and securities crowdfunding through integrative law to create opportunities for waqf asset management in national economic development. This study aims to create a concept of sustainable funding collaboration for business actors through a sharia green economy
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