PROPOSED BUSINESS STRATEGY IN MANAGING CASH PRODUCTIVE WAQF (CASE STUDY: BMT UMMAT)

• Main Author: Ilham Anugrah Bayu, Muh
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/62725
• Institution: Institut Teknologi Bandung

Islamic economy has developed very rapidly in the last few decades. This is because the potential of the Islamic industry is very promising. Starting from Islamic finance, halal fashion, halal food, halal tourism and many other halal industries that attract the attention of entrepreneurs in various parts of the world. One of the pioneers of its development is Islamic finance. In addition to the Islamic finance industry, which is purely profit oriented, this field also has another category that is also interesting to be applied, namely Islamic social finance. Islamic social finance has several financial instruments that are quite attractive and are not owned by other economic approaches, including zakat, sadaqa, infaq, and waqf. One instrument that has received great attention in the Islamic world, including Indonesia, is the waqf, which is currently developing into a cash productive waqf. BMT UMMAT as one of the Islamic financial institutions that has issued productive cash waqf products in its management has a problem that is not achieving the target of funds and wakif (donor) on a project. This problem attracted the author to research in depth using the PPT theory (people, process, and technology) to get the root cause and the right strategy to overcome the problem. The author also benchmarks two established waqf institutions, Wakaf Salman and Sinergi Foundation to see the application of the ppt concept in these institutions to enrich literature studied. The method used is qualitative by conducting in-depth interviews, FGDs, and observations at BMT UMMAT. From the PPT theory, the author developed 17 sub-indicators and it was found that 64.7% of the existing sub-indicators experienced a gap. means that only 35.3% percent are in line with the target. This gap is used as the basis for generating the right strategy and allowing it to be implemented soon in accordance with the resources owned by BMT UMMAT. The strategy is then generated based on the gaps that have been found using the impact and effort priority matrix so that 6 strategies are formed, namely: carry out planned and systematic funding activities, participate employee in training and competency certification, create and implement consistent SOPs for cash productive waqf management, conduct standardized reporting to internal and external stakeholders, build partnerships to conduct campaigns on the crowdfunding platform, and conduct attractive and consistent digital marketing. Implementation of the strategies will have an impact on better management of cash productive waqf so that it can increase public trust to carry out waqf in BMT UMMAT