ANALISIS IMPLEMENTASI CASH WAQF LINKED DEPOSIT (CWLD) UNTUK PEMBERDAYAAN UMKM: PERSPEKTIF AKAD WAKALAH BI AL-ISTITSMAR DALAM FIKIH SYAFI’IYYAH

Penulis

  • Syukron Ma’mun Universitas Islam Negeri (UIN) Madura
  • Zaini Marsuki Universitas Islam Negeri (UIN) Madura

DOI:

https://doi.org/10.24252/iqtishaduna.v7i3.66471

Abstrak

ABSTRAK

Instrumen keuangan sosial Islam memiliki potensi besar dalam penguatan ekonomi nasional, namun realisasi serapan wakaf uang untuk sektor produktif masih tergolong rendah akibat keterbatasan inovasi produk dan keraguan terhadap kepatuhan syariah. Penelitian ini bertujuan untuk menganalisis mekanisme operasional Cash Waqf Linked Deposit (CWLD) serta menguji kesesuaiannya dengan prinsip keabadian aset (perpetuity) dalam koridor Madzhab Syafi'i. Jenis penelitian ini adalah kualitatif deskriptif dengan pendekatan studi kepustakaan (library research) dan analisis dokumen regulasi, termasuk Fatwa DSN-MUI No. 131/2019. Temuan penelitian menunjukkan bahwa CWLD secara substansial memenuhi kriteria syariah melalui skema penjagaan nilai pokok (ashlul mal) dalam bentuk deposito yang dijamin, sementara manfaatnya (manfa’ah) disalurkan secara produktif bagi UMKM melalui akad Wakalah bi al-Istitsmar. Penelitian ini menyimpulkan bahwa CWLD merupakan instrumen moderat yang mampu menyelaraskan antara rigiditas fikih Syafi'iyyah dan fleksibilitas manajemen perbankan syariah modern.

Kata Kunci: Cash Waqf Linked Deposit (CWLD), Madzhab Syafi’i, Wakaf Uang, UMKM, Wakalah bi al-Istitsmar.

 

ABSTRACT

Islamic social finance instruments hold significant potential for national economic strengthening, yet the realization of cash waqf for the productive sector remains low due to limited product innovation and concerns over sharia compliance. This study aims to analyze the operational mechanism of Cash Waqf Linked Deposit (CWLD) and evaluate its alignment with the principle of perpetuity within the Shafi'i school of thought. This is a descriptive qualitative study employing a library research approach and regulatory document analysis, including the DSN-MUI Fatwa No. 131/2019. The findings indicate that CWLD substantially meets sharia criteria by preserving the principal value (ashlul mal) in the form of guaranteed deposits, while the benefits (manfa'ah) are productively distributed to MSMEs through the Wakalah bi al-Istitsmar contract. The study concludes that CWLD serves as a moderate instrument capable of harmonizing the rigidity of Syafi'iyyah jurisprudence with the flexibility of modern Islamic banking management.

Keywords: Cash Waqf Linked Deposit (CWLD), Shafi'i School, Cash Waqf, MSMEs, Wakalah bi al-Istitsmar.

 

Unduhan

Diterbitkan

2026-05-02

Terbitan

Vol 7 No 3 (2026): April

Bagian

Volume 7 Nomor 3 April 2026

Lisensi

Hak Cipta (c) 2026 Syukron Ma’mun, Zaini Marsuki

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