THE INTEGRATION OF ISLAMIC COMMERCIAL AND SOCIAL ECONOMY THROUGH PRODUCTIVE WAQF TO PROMOTE PESANTREN WELFARE
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Abstract
A pesantren (Islamic boarding school) as an Islamic educational institution based
on self-financing system has implemented waqf as a pillar of its development and
become a potential waqf asset development. The productive waqf is considered as
a key instrument for providing funds to actualizing its educational program. Since
both productive waqf and pesantren emphasize sustainability, and since productive
waqf can assist to support the process of education in pesantren, the study aims to
investigate an integrated Islamic social and commercial economy model applicable in
pesantren. This will ensure utilization of the combined resources of productive waqf
and pesantren in promoting pesantren welfare. The study focuses on 263 operational
chief, assatidz or teacher, musyrif, musyrifah or santri companion and santri or students
in Pesantren in Java and Sumatra using. Structural Equation Modeling (SEM) adopted
to examine the relationship among the five constructs i.e., productive waqf, business
unit, project financing, human resource and pesantren welfare. While the reliability
and validity are established, the structural relationship between the constructs reveals
that the integrated model has a strong relationship with the pesantren welfare in
many ways. In relation with business unit and profitable commercial activities, human
resources have its significant role to assist pesantren tries its level best to realize
developed productive waqf. Specifically, the result shows all five constructs have
significant impact in promoting pesantren welfare, which suggests that the model as
well as the instrument should be further implemented in pesantren.
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