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All Journal Al-Adl : Jurnal Hukum Jurnal Hukum Lex Generalis
Kristiyawan, Ary Chandra
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Law, Crime, Criminology & Criminal Justice

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MICRO WAQF BANK: IMPLICATIONS FOR WAQF LAW IN INDONESIA Hidayatullah, Hidayatullah; Nasrullah, Nasrullah; Muhammad, Muhammad; Kristiyawan, Ary Chandra
Al-Adl : Jurnal Hukum Vol 17, No 1 (2025)
Publisher : Fakultas Hukum, Universitas Islam Kalimantan Muhammad Arsyad Al Banjari

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31602/al-adl.v17i1.16832

Abstract

The Micro Waqf Bank (BWM) initiative in Indonesia aims to expand financial inclusion for low-income communities, particularly around Islamic boarding schools (pesantren). By providing Sharia-compliant microfinancing, BWM supports micro-entrepreneurs who face barriers in accessing conventional banking services. However, the use of the term “waqf” in BWM's branding raises significant legal implications concerning Indonesia's waqf law. Traditionally, waqf assets are meant to be managed perpetually, with the principal maintained intact and only the benefits utilized. BWM’s rotational fund management system deviates from this concept, causing potential misunderstandings among the public about the legal status of waqf within BWM. This study utilizes a normative legal research method, examining statutes and regulatory frameworks to analyze BWM's compliance with waqf regulations. Key findings highlight that BWM operates under Sharia microfinance regulations but is not recognized as a waqf institution under Law Number 41 of 2004 on Waqf, leading to regulatory overlaps and legal ambiguity. The paper recommends harmonization between the Financial Services Authority (OJK) and the Ministry of Religious Affairs to clarify the regulatory status of BWM, ensuring legal certainty and public understanding of waqf and Sharia-compliant finance.
Urgensi Restorative Justice dalam Penghentian Penuntutan oleh Kejaksaan dalam Perkara Pidana Kristiyawan, Ary Chandra; Munawar, Akhmad; Hidayatullah
Jurnal Hukum Lex Generalis Vol 4 No 7 (2023): Tema Hukum Pidana
Publisher : CV Rewang Rencang

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Abstract

The restorative justice approach offers a progressive solution within Indonesia's criminal justice system to address the shortcomings of the retributive approach, which focuses primarily on punishment. This principle emphasizes victim recovery, offender accountability, and community involvement, thereby fostering more inclusive and substantial justice. The prosecution has strategic authority to discontinue prosecutions based on restorative justice, as stipulated in Article 14 Criminal Procedure Code and the Attorney General’s Regulation No. 15 of 2020. This study aims to examine the urgency of restorative justice principles in resolving criminal cases and the prosecutorial authority in discontinuing prosecutions under this approach. The findings indicate that restorative justice holds significant potential to overcome the weaknesses of the retributive criminal justice system. This approach effectively reduces court caseloads, prison overcrowding, and offender stigmatization while delivering more substantive justice for victims. The prosecutorial authority to discontinue prosecutions through this approach has proven to be an essential instrument in creating a more efficient, inclusive, and socially harmonious justice system.
MICRO WAQF BANK: IMPLICATIONS FOR WAQF LAW IN INDONESIA Hidayatullah, Hidayatullah; Nasrullah, Nasrullah; Muhammad, Muhammad; Kristiyawan, Ary Chandra
Al-Adl : Jurnal Hukum Vol 17, No 1 (2025)
Publisher : Fakultas Hukum, Universitas Islam Kalimantan Muhammad Arsyad Al Banjari

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31602/al-adl.v17i1.16832

Abstract

The Micro Waqf Bank (BWM) initiative in Indonesia aims to expand financial inclusion for low-income communities, particularly around Islamic boarding schools (pesantren). By providing Sharia-compliant microfinancing, BWM supports micro-entrepreneurs who face barriers in accessing conventional banking services. However, the use of the term “waqf” in BWM's branding raises significant legal implications concerning Indonesia's waqf law. Traditionally, waqf assets are meant to be managed perpetually, with the principal maintained intact and only the benefits utilized. BWM’s rotational fund management system deviates from this concept, causing potential misunderstandings among the public about the legal status of waqf within BWM. This study utilizes a normative legal research method, examining statutes and regulatory frameworks to analyze BWM's compliance with waqf regulations. Key findings highlight that BWM operates under Sharia microfinance regulations but is not recognized as a waqf institution under Law Number 41 of 2004 on Waqf, leading to regulatory overlaps and legal ambiguity. The paper recommends harmonization between the Financial Services Authority (OJK) and the Ministry of Religious Affairs to clarify the regulatory status of BWM, ensuring legal certainty and public understanding of waqf and Sharia-compliant finance.
Co-Authors Hidayatullah Hidayatullah Hidayatullah Muhammad Muhammad Munawar, Akhmad Nasrullah Nasrullah Nasrullah Nasrullah