Sukuk Linked Wakaf for MSME Development

Abstract

One of the sharia financial products that continues to experience growth is the sukuk product. If many tate sukuk products were previously allocated for infrastructure development, there needs to be an allocation for economic recovery through MSMEs under the current situation. The goal of this research is to assess the growth of state sukuk and the form of sukuk product development through state CWLS for the development of MSMEs. This is a qualitative study that examines the state sukuk market and the MSME sector. Secondary data was used, including information from the Ministry of Finance's Directorate General of Financing and Risk Management (DJPPR). The data analysis technique employed is descriptive qualitative, which depicts the evolution of state sukuk from 2019 to 2020 as well as forms of innovation for state sukuk goods designed specifically for MSMEs recovering from the COVID-19 outbreak. The results showed that the growth of the sukuk instrument reached 40.80%. Providing business capital through Nazhir with a profit-sharing scheme; business assistance schemes; and maximizing the types of Waqf sukuk distributed to the productive sector are all schemes that can be implemented in developing MSMEs through the CWLS sukuk