Optimizing Mosque's Infaq Fund Management On Ijara Sukuk Investment For Human Resource Development: Study Case In Indonesia

1. ISBN 978-967-394-230-5 [PROCEEDINGS OF IDMAC2015]
9th ISDEV International Islamic Development Management Conference
(IDMAC2015)
217
OPTIMIZING MOSQUE'S INFAQ FUND MANAGEMENT ON IJARA
SUKUK INVESTMENT FOR HUMAN RESOURCE DEVELOPMENT:
STUDY CASE IN INDONESIA
Mega Ayu Widayantia
, Ida Wijayantib
, Nuril Maulydia Agustinc
Departemen Ekonomi Syariah
Universitas Airlangga
Jl. Airlangga 4 Surabaya
Mega.ayu-13@feb.unair.ac.id
+6285745419161
Fax : 031-5026288
a
Mega.ayu-13@feb.unair.ac.id, b
dama.madiun@gmail.com,
c
nurilmaulydiaa@gmail.com
Faculty of Economics and Business, University of Airlangga, Surabaya 60286,
Indonesia
Abstract
Indonesia is a developing country with the largest Muslim population in the world,
which amounted to 88.1% of Indonesia's population (about 205 million). A large
number of Muslim population led to high levels of the Muslim community needs the
existence of the mosque. This is because the existence of the mosque will facilitate
Muslims activities in worship mahdlah and also capable of being media philanthropic
fundraisers, including funds infaq. Yogyakarta is one of the provinces in Indonesia
which has a large infaq funds. Ministry of Religious Affairs said that the Special
Region of Yogyakarta has 6401 mosques. In a study stating that the funds infaq
unproductive in Yogyakarta Rp 269.9 billion (Adnan, 2013). Most of the mosque’s
caretaker (Ta’mir) infaq only save funds as cash used for operational maintenance of
the mosque. Infaq funds can be managed through Ijara sukuk issued by the
governement, by forming a legal entity in mosque’s caretaker, which was facilitated
by the Indonesian Mosque Council (DMI) and Financial Services Authority (FSA),
so that the funds infaq more productive. Furthermore, the results obtained will be
used for the development of human resources. This paper uses the method of literacy
studies and exploration through the study of scientific journals and books.
Keyword: Infaq, Ijara Sukuk, the Financial Services Authority (FSA), the Indonesian
Mosque Council (DMI), Human Resource Development.

2. ISBN 978-967-394-230-5 [PROCEEDINGS OF IDMAC2015]
9th ISDEV International Islamic Development Management Conference
(IDMAC2015)
218
INTRODUCTION
Indonesia is a developing country with the largest Muslim population in the world.
Statistical data shows that 12.7% of the total Muslim population of the world is
Indonesian. The magnitude of the number of Indonesian Muslim population against
the Muslim population of the world is evidenced by carrying Indonesia as a Muslim
majority population, which amounted to 88.1% of Indonesia's population (about 205
million). A large number of Muslim population is leading to high levels of the needs
of the Muslim community of the existence of the mosque as a place of worship.
Chairman of DMI, Jusuf Kalla, said that in Indonesia there are currently
approximately 850 thousand mosques and little mosque (mushalla). That number,
according to him, became an important potential to help empower and improve the
lives of Muslims in the archipelago. It is because the existence of the mosque to
facilitate Muslims activities in worship mahdlah and also capable of being media
philanthropic fundraisers, including funds infaq. High improvement of Muslim
population and the number of mosques in Indonesia, indicating a high potential for
the receipt of funds mosque’s infaq in Indonesia.
Yogyakarta is one of the provinces in Indonesia which has a large infaq funds. With
a Muslim population of 36,113,396 inhabitants, Yogyakarta has 11 781 mosques,
violated, and mosque, library 2,231 mosques, as well as 18 radio that spread
throughout Yogyakarta (www.kemenag.go.id). That amount show the potential of the
fundraiser mosque’s infaq too. In a large mosque in Jogjakarta there is a mosque’s
infaq funds can earn Rp 25.601.000.000; or 25.601 billion in one month. However,
the lack of transparency and management of funds makes it difficult to assess how
much money mosque’s infaq collected. Moreover, the majority of mosque’s infaq
funds was still not managed properly. The study, entitled "An Investigation of the
Financial Management Practices of the Mosques In The Special Region of
Yogyakarta Province Indonesia" stated that in the province of Jogjakarta can be
collected funds amounting to Rp 269.9 billion mosque’s infaq still unproductive in
one month (Adnan, 2013).
The amount of mosque’s Infaq funds was collected in the mosque should be utilized
as well as possible for the prosperity of the mosque and human resource development
with a good governance of the fund. But in the reality showed the words otherwise.
Most of these funds are only used as fund management and maintenance of the
mosque, the procurement activities of mosques and the rest is kept as cash. This
large-value of funds should be productive, and should be utilized for improving the
quality of human resources (SDI). In a verse of the Qur’an stated clearly that we are
prohibited from storing the property, which is listed in the QS. Al Hashr: 7
".. that Treasure should not only circulated among the wealthy among
you.." (al-Hashr, 59:7)
The verse reminds us to not let the treasure to be stored just for particular group of
people, and advice to productive the existing funds, so we can attempt to improve
the usefulness of the provision of God and that human resources development can be
distributed more evenly society. There are various ways to productive this fund,

3. ISBN 978-967-394-230-5 [PROCEEDINGS OF IDMAC2015]
9th ISDEV International Islamic Development Management Conference
(IDMAC2015)
219
including the optimization of its value through the Islamic capital market, namely is
Ijara Sukuk instrument. Indonesian Ijara Sukuk which is also in the development
phase, so it needs a large injection of funds to help the development of good sukuk
issued by corporate and government. In this discussion, the right investment
instrument for management mosque’s infaq funds are Ijara sukuk issued by
government that is often called the Securities Sukuk (SBSN). Several advantages in
addition to supporting the government's development, SBSN also can provide a
competitive ratio at investor (mosque) in comparison with other financial
instruments, payment of remuneration and the nominal value until maturity
guaranteed by the government, can be traded in the secondary market, allowing to
get additional income in the form of margin (capital gains), and free from the usury,
gharar, and maysir.
The author conducted research to optimize mosque’s infaq funds through Ijara Sukuk
(SBSN) instrument, by setting up a special coordination between mosque’s caretaker
with Indonesian Mosque Council (DMI) which accompanied and guided by the
Financial Services Authority (FSA) and the Ministry of Religion.
Seeing the great potential fundraising Indonesian mosque’s infaq but with a lack of
management, while on the other hand there is a promising Islamic Capital Market
instruments (SBSN) and it needs an injection of funds, so it can be a good relation by
integrating that both parts. From this background, the author had idea that the
mosque’s infaq funds can be allocated as an injection of funds for the improvement
of government ijara sukuk. So, the mosque can still keep care for mosque’s
maintaining and holds community development activities from the benefit/ujrah
SBSN was obtained. Besides that, the government's development activities can get
financing from mosque’s infaq allocation on Ijara Sukuk Invesment (SBSN).
From that background, the authors formulate the problem: how to optimize mosque’s
infaq funds mechanism to Ijara Sukuk through SBSN. Based on these problem, the
purpose of this study was to determine the mechanism of optimization mosque’s
infaq fund to Ijara Sukuk through SBSN. The benefits of this paper are: the result of
this research is expected eventually to contribute to the world of Islamic finance
sector in the Islamic capital market through SBSN, and capable to productive
mosque’s infaq funds as well as the impact on economic development in Indonesia.
LITERATURE REVIEW
Mosque’s Infaq
In language, infaq from Arabic, means issuing or spend the treasure. In general, the
activity of issuing infaq is a treasure to seek the blessings of God. Infaq different
from charity, infaq not know Nishab or the amount of assets prescribed by law. Infaq
not be given to certain mustahiq, but to anyone such as parents, relatives, orphans,
the poor, or mole-people who were on their way, as Allah says in Surah Al-Baqarah
verse 215, which means:
"They ask questions about what they shall spend. Answer: "What a
treasure you spend let awarded to the mother-father, kinsfolk,

4. ISBN 978-967-394-230-5 [PROCEEDINGS OF IDMAC2015]
9th ISDEV International Islamic Development Management Conference
(IDMAC2015)
220
orphans, the poor and those who were on the way." and what are the
good things you do, verily Allah doth know." (al-Baqarah, 2:215)
The definition of funds mosque’s infaq is a worship any material which is destined
for the benefit of the people, or an activity in the expense of property in the way of
Allah who can guarantee all human needs such manner prescribed by law, or even
the means to spend a treasure not for purposes of self but for the purposes of joint.
Reagan (2008: 2) reveals the great variety of activities of the mosque of course need
the resources in its implementation so that the intent and purpose of these activities
can be achieved. These resources can be obtained from the community, especially
mosque in the form of zakat, infaq, grants, and waqaf. These resources after being
accepted by the board of the mosque will be trustworthy and should be accounted for
by the mosque management in terms of management, where the collected funds will
be partly allocated to fund productive infaq.
Ijara Sukuk
Sukuk is the plural of the word "sakk". Sukuk or Islamic Bonds are often called
Islamic securities in the form of a certificate or proof of ownership of an asset of
equal value, the right to benefits, services, ownership of the project or specific
investment activities (Directorate of Islamic Financing, 2010). Islamic Bonds was
first introduced in Indonesia in 2002.
The definition of Syariah Ijara Bonds according to DSN MUI Fatwa No. 41 2004 is
the Islamic Bonds based on Ijara, which Sukuk or Islamic Bonds by DSN MUI No.
32 of 2002 is a long-term securities based on sharia principles issued by the issuer to
the holders of Islamic bonds, which obligates the issuer to pay income to the
bondholders Sharia in the form of profit sharing/margin/fee/capital gains and repay
the bond at maturity.
Ijara Sukuk issued based Ijara contract, where there is one party acting alone or
through a representative to sell or lease the right to benefits of an asset to another
party based on price and the agreed period, without any transfer of assets
(Directorate of Islamic Financing, 2010). One of the advantages of sukuk Ijara when
compared with other types of sukuk are Ujroh/sukuk Ijara fee shaped fixed.
Treasury Sharia Securities (SBSN) also includes Ijara Sukuk, which sukuk were
issued based on Islamic principles as proof of ownership/participation to SBSN
assets by the central government and implemented by the Ministry of Finance based
on Law No. 19 of 2008 on SBSN. Risk of the Ijara Sukuk issued by the government
is smaller than the Ijara Sukuk issued by the private sector, so the rewards/profit
share/margin/fee/capital gain Ijara Sukuk is also smaller when compared with private
Ijara Sukuk. However, Ijara Sukuk issued by the government tend to be more secure
because the payment of remuneration and the nominal value of sukuk to maturity
will be guaranteed by the Government (Directorate of Islamic Financing, 2010).
Various advantages from SBSN, among others: (1) provide remuneration fixed (fixed
return) on a periodic basis, (2) a safe investment for benefit payments and the

5. ISBN 978-967-394-230-5 [PROCEEDINGS OF IDMAC2015]
9th ISDEV International Islamic Development Management Conference
(IDMAC2015)
221
nominal value is guaranteed by law, (3) can be traded in the secondary market at
market price. (4) Potential to obtain capital gain on the secondary market (5) Tax
compensation (15%) less than the tax on production of deposits (20%) and (6) In
accordance with Islamic principles (Amirullah, 2011).
Financial Services Authority
Law No. 21 Year 2011 on the Financial Services Authority (FSA) has entered into
force on 22 November 2011, which also marks the shift of supervisory duties of
financial institutions in Indonesia by some institutions to the FSA, banking
supervision by Bank Indonesia (BI) to the FSA, supervision capital markets and
other financial institutions by Bapepam LK to the FSA. However, the Financial
Services Authority (FSA) officially operational from January 1, 2013 to replace the
function of Bapepam-LK. In the following year, the FSA oversees banking
institutions replace the Bank Indonesia (central bank).
FSA's role as the sole regulator and supervisor in the financial services sector of the
capital markets led to FSA become an independent institution. FSA independency
purpose is to avoid any conflict of interest and intervention in providing legal
certainty intended to give protection to market participants and investors the
Indonesian capital market.
Indonesian Mosque Council (DMI)
Indonesian Mosque Council (DMI) is an independent national organization that aims
to realize the function of the mosque as a center of mahdlah worship, social
mu'amalah worship but oriented proselytizing, community development and unity of
the territory of the Republic of Indonesia. DMI stewardship are in every province
and district in Indonesia, where managers are required to understand and have an
insight into Islamic (religious) and nationalism. DMI has a central leadership
democratically elected every five years by the national congress. DMI headquarters
are in Istiqlal Mosque Complex, Jl. Wijayakusuma Park, Jakarta 10710.
The history of the formation of the Indonesian Mosque Council (DMI) originated
from the meeting of Islamic leaders, which was attended by Mr. H. Rus'an of the
Director General of Islamic Guidance and the Vice Chairman of the Central Jakarta
Mr. H. Edi Djajang Djaatmadja which form a committee to establish a mosque
Prosperity Council of Indonesia (DKMSI) on June 16, 1970. Then, on June 22, 1972
(1O Jumadil Ula 1392 H) DKMSI formation team meeting decided to set up the
Indonesian Mosque Council (DMI). It is motivated by the desire to restore the
function of the mosque as the days of the Prophet which is a center of culture and
science, by way of DMI into a social organization and a vehicle of communication
managers of mosques across Indonesia are carrying out missionary movement, and
make the mosque as a center of development activities aqidah, worship, morals,
ukhuwah, knowledge, skills and human resources people.
The existence of DMI is intended to manage mosques in Indonesia, both in terms of
handling the increase in growth in the number of mosques over the years, optimizing
the function of the mosque, as well as the management of financial transparency.
Therefore, the need for synergy and good communication from Central DMI, DMI

6. ISBN 978-967-394-230-5 [PROCEEDINGS OF IDMAC2015]
9th ISDEV International Islamic Development Management Conference
(IDMAC2015)
222
and district centers, as well as the mosque’s caretaker.
Human Resource Development
Human resource development according to Umar ibn al-Khattab that includes the
development of quality and quantity, so that SDI is able to carry out their duties in
life (Jaribah bin Ahmad al-Haritsi: 2006).
1. Quantity of Human Resource Development
First, through marriage and not complicate the marriage.
Secondly, Hijrah both within the city and outside the city.
2. Quality of Human Resource Development
a. Tazkiah and Taklim- Tazkiah means implementing good morals and prevent
bad character. While the definition of Taklim is the science of al-Quran and
al-Sunnah which includes the science of those people in past. Therefore, one
way to develop SDI is through science. The evidence of Umar great attention
to the development of SDI which has a high ability as in his words "I hope
that this country is filled with people like Abu Ubaidah bin Jarrah". And he
also said "the person who leads his people to the science then there will be
life for him and for them, and anyone who leads his people in addition to the
science of destruction, then it is for him and for them."
b. Training for soft and hard skills
c. Food
Healthy food is the quantity and quality of food that balance the needs of the
body of the power that is usual for people to carry out activities which are
demanded in life and life.
d. Health
Khalifah Umar was very attentive to health such as home hygiene,
environment and so forth, and he was concerned about the medicine and the
study of disease.
e. Social care
DESIGN, MODEL, AND IMPLEMENTATION
Research Approach
This study discusses whether the mosque infaq funds could be used to finance Ijara
sukuk issued by the government and generate ujrah that can be used as the
development of human resources community around the mosque. To achieve these
objectives, the approach used in this study is a qualitative approach using library
research (see Hasan, 2002).
This method was chosen because researchers had limited access to conduct a direct
dialogue with the makers in the National Sharia Board fatwa Indonesian Ulama
Council (DSN-MUI). Things to do limited availability of reliable articles and books
that discuss the legal management of mosque’s infaq. Therefore, this study requires
researchers conducted trace back and understanding of the validity of a proposition,

7. ISBN 978-967-394-230-5 [PROCEEDINGS OF IDMAC2015]
9th ISDEV International Islamic Development Management Conference
(IDMAC2015)
223
which in this case is about the legal basis infaq and the allocation.
Research Sites
With the advancement of technology today, the research of a thing should not always
only in the library and only from books, but also can use the internet facility to get
journals, articles, and data on matters related to the topic of research, in particular to
methods of library research.
Data and Data Sources
The data in this study is information on the legal basis management of mosques infaq
and Islamic legality of its use according to finance the development of human
resources community around the mosque using Ijara sukuk investments. While the
source of the data used is derived from books, magazines economy, journals, and
articles related to the topic of research, either through print out or online.
Data collection technique
We use the methods of library research in Data collection techniques, namely:
1. The collection of supporting the theory from literature books
The first way is to buy a few books that can support research topics.
The second way is visit the library. It’s because of the many books to support the
research topic, so it is impossible for researchers to buy all the books needed.
2. The collection of articles and online data from the internet
The collection of articles and media data can be initiated in two ways. First, start
with the help of search engines such as Google, it will be easier for researchers if
it does not know the address of the website that will be addressed directly, by
simply typing a keyword researchers get the information you want. Second, start
by typing the website address in the URL in the web browser. This can only be
done if researchers already know the website address that will be addressed.
Data Validity Testing Plan
The data obtained this study not only from the Internet, but also of reliable data
sourced from books, and journals. So in this study, testing the validity of the data use
credibility test of the data (see Sugiyono, 2014), which is done by:
1. Increase perseverance
Conducting literature study more closely and continuously until data saturation. In
this way, the certainty and the validity of Islamic Sharia law data about infaq can
be known in full.
2. Discussion with the lecturer
Discussing the results of the study are still tentative with lecturers, especially in
this case with Islamic Economics lecturers who taught courses in the Quran and
Hadith, Fiqh Muamalah, and Usul Fiqh. Through this discussion, a lot of

8. ISBN 978-967-394-230-5 [PROCEEDINGS OF IDMAC2015]
9th ISDEV International Islamic Development Management Conference
(IDMAC2015)
224
questions and suggestions generated. Thus, the data become more valid and
complete
Methods of Analysis and Interpretation
After collecting data, the next step is analyze the data to obtain a conclusion. Form of
data analysis techniques are as follows:
1. Descriptive analysis
Collect and compile the data, and then analyzing the data (Surachman, 1990: 139).
Descriptive analysis of data collected is in the form of words, images and not the
numbers. In addition, all collected likely to be the key to what had been observed
(Moleong, 2004:11). Thus the research report will contain excerpts of data and
data processing to give an overview presentation of the report.
2. Content Analysis
This analysis was used for data interpretation. Burhan Bungin (2008) defines
(content analysis) is an analytical technique for making inferences that can be
replicated (replicable), and the validity of the data in context. This technique is
particularly suited to understand the things that focus on how researchers view the
contents of the communication constancy qualitatively, on how researchers
interpretate the content of personal communication symbolic interactions that
occur in communication (Bungin, 2008: 155).
In conducting this research, the technique was used to determine whether infaq
mosque can be used for investment Ijara sukuk issued by the government to finance
the development of human resources surrounding communities. Then, after the
collected data is classified, the next is the analytical technique made the infaq fund
distribution mechanism that can then be deduced.
RESULT AND DISCUSSION
Professionally Infaq Management Mosque
Mosque’s functions are not just for worship activities. But also a place for dakwah
activities, a place to learn the science religion, and also place to collecting such infaq
charity funds. The infaq collection can be allocated as an productive infaq fund. So
that the infaq can be more useful in case of increasing quality of mosque’s activity
and facilities, or further the economy of the country and human quality of people
around the mosque would be better. Islamic infaq law especially in management and
distribution of infaq provision does not detailed explicitly in Qur'an and Hadith.
Referring to the arguments of the Qur’an, in which infaq as a means of equitable
prosperity for human resources, it is not justified if the collected infaq is only used to
fulfill the facilities of the mosque, because it will not widely raising quality of human
resources. Therefore, the distribution infaq mosque must also consider the
preservation and development of the existing mosque infaq funds, as well as the
interests of the muslim around the mosque, so that could be a more selective
distribution.
Synergy and Role of Stakeholders in the Infaq Mosque Allocation to SBSN

9. ISBN 978-967-394-230-5 [PROCEEDINGS OF IDMAC2015]
9th ISDEV International Islamic Development Management Conference
(IDMAC2015)
225
Potential mosque’s infaq fund in Indonesia is enormous. A statistic data from
Ministry of Religion in Indonesia province, stated that within a month infaq fund
collection in Yogyakarta could reach Rp 269.9 billion. Moreover, if it held in a
systematically and proper groove accounting and management, the potential infaq
funds can be recorded neatly and clearly to be productive, then it can help a
development in economic and human resources (surround the mosques)
improvement. In this discussion, the way that we use to optimize and productive an
infaq fund is distribute it to the government ijara sukuk or commonly known as
SBSN. The role of stakeholders is an urgent starting point in the optimization of this
fund, so that the synergy between related stakeholders is definitely needed.
Figure 1: Synergy Stakeholders in Allocating Mosque’s Infaq in SBSN
Source: Adapted from various sources
The scheme above describes the use of funds in financing SBSN infaq. The
application of these mechanisms involve several agencies of the central interlocking
the Ministry of Religion and the Financial Services Authority (FSA) in Indoneisa.
The Ministry of Religion has authority in making regulations and advising on
optimize the function of the mosque, the role and benefits of the mosque in legal
entities, as well as a better fund management infaq. While the FSA authorized to
provide an understanding of the Islamic capital market, especially the mechanism of
Ijara Sukuk. FSA also contributes to the initial allocation system laying on Ijara
Sukuk mosques nationwide specifically supplied to the SBSN (Shariah Securities).
In the technical implementation, the Ministry of Religion and the FSA takes the role
of an independent agency that can focus and handle the mosque’s caretaker
thoroughly and sustain mosques. The agency is the Indonesian Mosque Council
(DMI) which has been established in Indonesia for 43 years and spread throughout
all region in Indonesia. DMI existence that has become a cultural and attached to
caretaker of mosques in each regions, can contribute directly to socializing and
understanding of the mosque caretaker and people to increase the productivity of

10. ISBN 978-967-394-230-5 [PROCEEDINGS OF IDMAC2015]
9th ISDEV International Islamic Development Management Conference
(IDMAC2015)
226
infaq funds as well as contributing to the develop the economic of the country
through sukuk SBSN.
In doing its duties, DMI always to coordinate and facilitated by the ministry of
religion and the FSA in every phase, from doing research legal entities and potential
funding mosque’s infaq, record the program and the needs of the mosque, socialize
and give an understanding of the Ijara Sukuk, and implement a system for allocating
funds, even to make sure that each legal entity’s mosque gain ujrah upper part it’s
sukuk that can be used to fund of maintaining, managing, and procurement mosque
religious activities also improving the quality of human resources of muslim
surrounding the mosque.
Mechanism Mosque’s Infaq Allocation to SBSN
Had the synergy among stakeholders: Ministry of Religion, FSA, and coordination
with DMI well established, it would produce effectiveness in mechanism of
mosque’s infaq fund allocation to SBSN. Technically, the National DMI with FSA
and Ministry of Religion discussing the program and determine both long and short
term strategy to achieve a common goal. National DMI then deliver the tasks and
mandate of the DMI leaders per region that relate directly to the board or mosque’s
caretaker. The next stage, DMI in each region play a direct role in every stage of
development, accompanied and monitored by Ministry of Religion and FSA’s role.
DMI’s role in this mechanism started from the observation and socialization,
actuating when planning, managing, until the monitoring stage.

11. ISBN 978-967-394-230-5 [PROCEEDINGS OF IDMAC2015]
9th ISDEV International Islamic Development Management Conference
(IDMAC2015)
227
Figure 2: Distribution Mechanism Infaq’s Mosque in SBSN
Source: compiled from various sources
Concepts and synergies on distribution of infaq fund on this SBSN has been formed
and can be applied with the following stages:
In the early stages, the mapping of capability to allocate infaq is needed thorough
observation in each region to determine the potential of mosques and infaq funds
there in. Then it would be mapped: a) From the legal entity form: it can be known
where are the mosque that had a legal form or originated by the foundation (legal
entity) so that the mosque has been qualified as an investor of sukuk or not. When
mosque’s not legalize yet whereas has a big potential-it can be proposed form as a
legal entity. b) From financial side: it can be seen from mapping-where is the
mosques that could potentially have a large infaq funds and can be allocated to sukuk
SBSN. By knowing the potential and mapping of mosques, will allow DMI to
determine further steps and follow-up of each category of the mosque. These
observations are part of the planning function, in order to know the future clearly and
minimize the trouble while handling the mosque if it fulfill the terms and conditions
of the minimum infaq funds. The planning function in accordance with QS. Al
Hashr: 18 which means:
"Hei who believe, fear Allah and let every self pay attention to what he has
done for tomorrow (the Hereafter), and fear Allah, verily Allah is Aware of
what you do." (al-Hashr, 59:18)

12. ISBN 978-967-394-230-5 [PROCEEDINGS OF IDMAC2015]
9th ISDEV International Islamic Development Management Conference
(IDMAC2015)
228
These verse describes the need of careful planning prior before executing a program.
So the first stage in this mechanism is the observation of the legal entity of the
mosque and the potential of each region infaq which is a very important step to starts
the application of this mechanism.
1. After the analysis of the potential, it start to built a forum between mosque’s
caretaker and DIM. The forum will socialized the role of the mosque which has
been legalized, on amanah of fund management infaq that should be noted as
well (including the upgrading of accounting), and the necessary of understanding
the sukuk SBSN including urgency and processes. Planting understanding and
skill is a primer preparatory step form of human capital that are useful for the
future.
2. In the accompanying phase, each selected mosque’s caretaker which had
fulfilled the criteria above, apply the process distribution of funds mosque’s
infaq in sukuk SBSN and DMI accompany the process. Even if allows, the
application and this assistance can be made collectively together.
Implementation of the distribution of the sukuk from infaq is then expected to
establish a culture of transparency and accountability in financial management
mosque’s record. And integrating with the application of the values exemplified
by the Prophet Muhammad SAW they are Siddiq, amanah, and fathanah
(professional) in the managing the mosque’s infaq. Integration and openness of
the Islamic nature of the funding of the mosque will be more clear and
accountable. Then the benefit are can facilitate mosque’s caretaker in the
allocating, funding, and its use. Due to allocate funds mosque’s infaq in SBSN,
mosque’s caretaker should not be arbitrary, but must use the calculation and
consideration so that the funds are rotated in SBSN be proportionate so it won’t
disturb the availability of funds for funding needs routine is always required by
the mosque, until ujrah of sukuk was down.
3. In a certain period of time when funding margin or sukuk’s ujrah already come
out, the mosque through mosque’s caretaker or mosque’s foundation can use it
wisely for the purposes of the mosque, well maintenance, management, and
procurement activities that give beneficial to human resources around the
mosque. In addition, the fund management ujrah stage should also be made of
recording income and expenditure of funds infaq very clearly. Then after
executing Siddiq nature, amanah, and fathanah, mosque’s caretaker can equip
with tabligh that is deliver news or financial statements of the mosque. So that
the mosque received public trust over the disclosure of financial information,
and people who know the management capability of mosque’s caretaker to
manage existing funds can increasingly trust their infaq fund at the mosque.
4. Furthermore, DMI monitors the efforts of the utilization of the proceeds ujrah
and check-financial reports. So it can be expected that the distribution of funds
in sukuk SBSN infaq will generate benefits that can be used for any program to
increasing the prosperity of the mosque and developing human resources muslim
around the mosque.
Turnover Mechanism Fund Infaq mosque in SBSN

13. ISBN 978-967-394-230-5 [PROCEEDINGS OF IDMAC2015]
9th ISDEV International Islamic Development Management Conference
(IDMAC2015)
229
There is a infaq cash flow mechanism in sukuk when mosque’s caretaker has been
incorporated (became a legal entity) deposits funds to buy SBSN government. The
following distribution scheme of SBSN in the form Ijara sukuk investment.
Figure 3: Rotation Mechanism Mosque’s Infaq Fund in SBSN
Source: compiled from various sources
One of type SBSN is an Ijara sukuk issued by state. Here the government acts as the
issuer, the owner of the object Ijara. Government issued at a unit price of certain
SBSN to help fund the establishment of a state asset to be leased (for the
establishment of underlying assets SBSN sukuk). On the other hand, mosque’s
caretaker or a foundation (which has fulfilled the legal entities and potentially buy
SBSN) acts as investor. Investors buy SBSN issued by the government according to
their purchasing power. This is where the distribution of funds infaq in sukuk that
happens.
Then the funds were used to build and manage the underlying assets to the issuer
formed and ready to rent. Furthermore, the asset is leased to a third party by the
government as issuers, investors represent asset turnover / rental assets on the
government, and from the results of the rents earned income become income
countries. The income from the lease (Ijara) was distributed as ujrah or margin to
investors according to the contribution funds provided, that a number of sukuk SBSN
purchased. That ujrah of results SBSN as the gain on the mosque’s infaq cash flow,
and can be used as funds was allocated to the prosperity of the mosque which can be
used for maintenance, management, and provision of religious activities that benefit
the community for human resources development around the mosque.
The Impact of Mosque’s Infaq Fund Management through SBSN
The nature of proprietary SBSN is classified on risk free asset. It would provide
certainty ujrah of the mosque’s infaq funds was allocated. So the mosque’s infaq
fund liquidity of SBSN can be maintained. Furthermore, the mosque can utilize the

14. ISBN 978-967-394-230-5 [PROCEEDINGS OF IDMAC2015]
9th ISDEV International Islamic Development Management Conference
(IDMAC2015)
230
ujrah for the maintenance, management and implementation of the activities of the
mosque as well as fund the development of human resources around the mosque.
Here we can see that the infaq fund management in sukuk SBSN is very useful for
productive activities and can help the country, it can also be a tool for the prosperity
of the mosque and implement programs that can get benefit for the people
surrounding.
In addition, the systematic should be clarity of the financial statements of the fund,
both mosque’s infaq funds and other funds that can be known in the transparency and
accountability of the mosque that can gradually improve the quality of the mosque
and the mosque management in Indonesia.
The Impact of the mosque’s Infaq Fund in Sukuk Ijara State (SBSN) Turnover
Based on mechanisms that we have proposed, which is a great contribution of
mosque’s infaq fund to the SBSN will have positive impact on the government's
fiscal of rising number of sukuk issued. Government Sukuk issuance similar SBSN
actually is one way for governments (in developing countries such as Indonesia) to
increase the amount of domestic debt the country. Furthermore, domestic debt was
used for the payment of the fiscal deficit that is much financed by bank loans and
foreign debt.
As presented by Abbas and Christensen in The Role of Domestic Debt Markets in
Economic Growth, fiscal deficit financing for developing countries previously
mostly relies on foreign soft loans. So far the criticism of domestic debt allocation to
finance the fiscal deficit will give impact on private sector loans, debt sustainability,
fiscal sustainability, weakening the efficiency of the banking system and the risk of
inflation (Abbas and Christensen, 2007). With the maximization of mosque’s infaq
funds on SBSN it will increase the amount of domestic debt for fiscal financing and
also asset’s development, so diminishes Indonesia's dependence on banks loans (so,
the bank could be more optimally and efficiently in financing), and decrease the
government's dependence from foreign debt. In addition, the distribution of mosque’s
infaq funds on SBSN can also increase the contribution of the wider community
(through infaq funds) towards the construction of state assets. In the long term, these
assets can enhance the sustainable development of the country.
CONCLUSION
Mosque’s infaq funds collected in large numbers should not only be stored or only
used for renovation of mosques, but mosque’s infaq funds should be managed
productively. It is intended to allocate some of the mosque‘s infaq funds in Ijara
sukuk investment issued by the government to maintain the liquidity of fund and to
get the ujrah. Furthermore, the mosque can utilize the ujrah for the maintenance,
management and implementation of the activities of the mosque as well as fund the
development of human resources around the mosque. In addition, the mosque’s infaq
fund management in SBSN ijara sukuk also beneficial in helping the country.
SUGESTION

15. ISBN 978-967-394-230-5 [PROCEEDINGS OF IDMAC2015]
9th ISDEV International Islamic Development Management Conference
(IDMAC2015)
231
The success of the mosque’s infaq funds distribution on SBSN can be achieved
through the creation of synergy of relevant parties, including the Ministry of
Religion, Financial Services Authority (FSA), the Indonesian Mosque Council
(DMI), mosque’s takecare (mosque’s takmir).
REFERENCE
Al-Qur'an. Ministry of Religion of the Republic of Indonesia, Syamil Qur'an The
Miracle 15 in 1 2009. Bandung:PT Sygma Examedia Arkanleema.
Azwar. (t.t). Pengaruh Penerbitan Sukuk Negara Sebagai Pembiayaan Defisit Fiskal
Dan Kondisi Ekonomi Makro Terhadap Perkembangan Perbankan Syariah
Di Indonesia. Journal.
Azzam, Salimun. (2015). Optimalisasi Peran Masjid Masa Kini (online),
http://salimunazzam.blogspot.com/p/optimalisasi-peran-masjid-masa-
kini.html?m=1, accessed November 09 2015 at 02.15 pm.
Bungin, Burhan. (2008). Penelitian Kualitatif. Jakarta: Kencana Prenada Media
Group.
Cash flow statement. (2010). Lembaga Zakat, Infaq, Shodaqoh (Lagzis), (Online),
(http://www.lagzispeduli.org, accessed June 29, 2014).
Dewan Masjid Indonesia. (2015). (online), https://id.m.wikipedia.org/wiki/Dewan
_Masjid_Indonesia, accessed November 09 2015 at 01.00 pm.
H, ELSI MERSILIA. (2014). Investasi Syariah: Perkembangan Obligasi Syariah di
Indonesia (Review Jurnal Perkembangan Obligasi Syariah di Indonesia:
Suatu Tinjauan) (online), http://elsimh-feb11.web.unair.ac.id/artikel_detail-
114752-Sukuk-
Investasi%20Syariah:%20Perkembangan%20Obligasi%20Syariah%20di%20
Indonesia.html, accessed October 10 2015 at 10.50 pm.
Hamdani, Muhammad Ibrahim. (2015). Dana Masjid Yang Mencengangkan (online),
http://dmi.or.id/dana-masjid-yang-mencengangkan/diakses. Yogyakarta: DMI
Yogyakarta. accessed October 23 2015 at 11.05 pm
Hasan, Muhammad Iqbal. (2002). Pokok-pokok Materi Metodologi Penelitian dan
Aplikasinya. Jakarta: Ghalia Indonesia.
Ismail, Irsan. (2012). Hukum Islam – Infaq. (online), (http://echtheid-
irsan.blogspot.com/2012/05/normal-0-false-false-false-en-us-x-none.html,
accessed June 29, 2014).
Jaribah bin Ahmad al-Haritsi. (2006). Fikih Ekonomi Umar bin al-Khathab. Jakarta:
Khalifa.
Jarkasih, Muhamad & Aam Rusydiana. (2010). Perkembangan Pasar Sukuk:
Perbandingan Indonesia, Malaysia dan Dunia (online),
http://www.aamslametrusydiana.com/2011/06/perkembangan-pasar-sukuk-
perbandingan.html, accessed October 10 2015 at 11.20 pm.
Kalla, Jusuf. (2013). JK Dorong Tiga Fungsi Utama Masjid (online),
http://jusufkalla.info/archives/2013/07/23/jk-dorong-tiga-fungsi-utama-
masjid/ accessed November 10 2015 at 03.10 pm.
Kariem Consulting Indonesia. (2015). Konferensi Pers Akhir Tahun
Pasar Modal Indonesia: Islamic Finance Outlook 2015.
Khoiriyah, Nurul Fajri. (2013). Evaluasi Praktik Manajemen Keuangan Pada Masjid
(Studi Kasus Pada Masjid Jogokariyan Yogyakarta). Journal. Universitas
Muhammadiyah Yogyakarta: Faculty of Economics.

16. ISBN 978-967-394-230-5 [PROCEEDINGS OF IDMAC2015]
9th ISDEV International Islamic Development Management Conference
(IDMAC2015)
232
KUA WONOMULYO. Dewan Masjid Indonesia. (2010). (online),
http://kua.wonomulyo.id/p/organisasi-dmi.html?m=1, accessed November 10
2015 at 03.25 pm.
Mi’raj, Denizar Abdurrahman, (2014). The Use of Infaq As Cost of Capital on
Mudarabah Financing, in an Effort for Strengthening MSME Sector and
National Economic Growth Acceleration. Unpublished paper. Surabaya:
Faculty of Economics and Business, University of Airlangga.
Moleong, Lexy J. (2004). Metode Penelitian Kualitatif. Bandung: Young Rosda
paper.
Muafiroh, Nikmatul. (2010). Pengelolaan dan Pendistribusian Infaq Jumat Masjid di
Pedukuhan Papringan Catur Tunggal Depok Sleman Yogyakarta dalam
Perspektif Hukum Islam tahun 2007 2008. Thesis. University of Islam Negeri
Yogyakarta: Faculty of Sharia and Law.
Otoritas Jasa Keuangan. (2015). http://www.ojk.go.id, accessed October 04, 2015.
Pertiwi, Ruspita Rani. 2008. Manajemen Dakwah Berbasis Masjid. Vol. I Number 1.
Dakwah Management Journal.
Purnamawati, Indah. Perbandingan Sukuk Dan Obligasi (Telaah Dari Perspektif
Keuangan Dan Akuntansi). Journal. University of Jember: Faculty of
economics.
REPUBLIKA. (2015). Ini Kendala Survei Jumlah Masjid di Indonesia (online),
http://www.republika.co.id, accessed October 30 2015 at 09.50 pm.
Setiawan, Muhammad Budi. (2015). Dewan Masjid Indonesia Kumpulkan Takmir
Masjid Se-Kotagede (online), http://www.blogkmp.net/2015/02/dewan-
masjid-indonesia-kumpulkan-takmir.html?m=1, accessed November 8 2015
at 03.50 pm.
Sugiyono. (2014). Memahami Penelitian Kualitatif. Bandung: Alfabeta.
Surachman, Winarno. (1990). Pengantar Penelitian Ilmiah: Dasar, Metode, dan
Analisa. Bandung: Tarsita.
Tim Penyusun. (2010). Tanya Jawab Surat Berharga Syariah Negara (Sukuk
Negara). Edisi Kedua. Jakarta: Direktorat Pembiayaan Syariah.
Zadjuli, Suroso Imam. (2007). Pengembangan Ilmu dan Praktek Ekonomi Islam di
Indonesia Sekarang dan Masa Depan. Unpublished paper. Surabaya: Free
Press.