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Proposed Waqf framework for food security and price stabilization policy of rice in Indonesia

This paper provides a framework for agriculture waqf in support of a food security strategy and price stabilization policy for rice in Indonesia. Instability and inefficiency of rice production has increased, involving a high cost of production and low access of financing, which leads to instability...

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Main Authors:	Alif Wildana, Muhammad Dandy, Syed Jaafar Alhabshi, Syed Musa
Format:	Article
Language:	English
Published:	IIUM Press 2018
Subjects:	HD1401 Agriculture HG4001 Financial management. Business finance. Corporation finance. HJ1438 Public Finance In Islam
Online Access:	http://irep.iium.edu.my/68324/1/68324%20-%20Proposed%20waqf%20framework%20for%20food%20security.pdf http://irep.iium.edu.my/68324/ http://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/305
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spelling	my.iium.irep.683242018-12-06T07:33:17Z http://irep.iium.edu.my/68324/ Proposed Waqf framework for food security and price stabilization policy of rice in Indonesia Alif Wildana, Muhammad Dandy Syed Jaafar Alhabshi, Syed Musa HD1401 Agriculture HG4001 Financial management. Business finance. Corporation finance. HJ1438 Public Finance In Islam This paper provides a framework for agriculture waqf in support of a food security strategy and price stabilization policy for rice in Indonesia. Instability and inefficiency of rice production has increased, involving a high cost of production and low access of financing, which leads to instability of stock. Long supply chains, mismatch of supply and demand of rice due to the timing gap between harvesting periods, also encourages speculative practices. Waqf, through agricultural ventures that focus on producing rice, can play multiple roles and provide solutions for the entire supply chain of rice involving a framework designed to address the problems of rice in Indonesia. The proposed framework is intended to benefit all related stakeholders by maximizing the potential of waqf assets that already exist in Indonesia, with the justification based on the data, that provides an insight in to the real conditions of rice in Indonesia. The findings reveal that waqf can fit perfectly in the current framework for food security and price stabilization policy, with an additional reserve that independently enables the custodian of waqf assets from agriculture (rice) ventures. This promotes farmers as waqf partners, to create a stable rice production environment and to shorten long supply chain by creating associated commercial subdivisions. Hence the benefit is distributed to both farmers and customers through various subsidies and necessary aid in order to attain food security and stabilize the price of rice thereby improving the welfare of Indonesians IIUM Press 2018-09-18 Article PeerReviewed application/pdf en http://irep.iium.edu.my/68324/1/68324%20-%20Proposed%20waqf%20framework%20for%20food%20security.pdf Alif Wildana, Muhammad Dandy and Syed Jaafar Alhabshi, Syed Musa (2018) Proposed Waqf framework for food security and price stabilization policy of rice in Indonesia. Journal of Islamic Finance, 7 (2). pp. 70-85. ISSN 2289-2109 http://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/305
institution	Universiti Islam Antarabangsa Malaysia
building	IIUM Library
collection	Institutional Repository
continent	Asia
country	Malaysia
content_provider	International Islamic University Malaysia
content_source	IIUM Repository (IREP)
url_provider	http://irep.iium.edu.my/
language	English
topic	HD1401 Agriculture HG4001 Financial management. Business finance. Corporation finance. HJ1438 Public Finance In Islam
spellingShingle	HD1401 Agriculture HG4001 Financial management. Business finance. Corporation finance. HJ1438 Public Finance In Islam Alif Wildana, Muhammad Dandy Syed Jaafar Alhabshi, Syed Musa Proposed Waqf framework for food security and price stabilization policy of rice in Indonesia
description	This paper provides a framework for agriculture waqf in support of a food security strategy and price stabilization policy for rice in Indonesia. Instability and inefficiency of rice production has increased, involving a high cost of production and low access of financing, which leads to instability of stock. Long supply chains, mismatch of supply and demand of rice due to the timing gap between harvesting periods, also encourages speculative practices. Waqf, through agricultural ventures that focus on producing rice, can play multiple roles and provide solutions for the entire supply chain of rice involving a framework designed to address the problems of rice in Indonesia. The proposed framework is intended to benefit all related stakeholders by maximizing the potential of waqf assets that already exist in Indonesia, with the justification based on the data, that provides an insight in to the real conditions of rice in Indonesia. The findings reveal that waqf can fit perfectly in the current framework for food security and price stabilization policy, with an additional reserve that independently enables the custodian of waqf assets from agriculture (rice) ventures. This promotes farmers as waqf partners, to create a stable rice production environment and to shorten long supply chain by creating associated commercial subdivisions. Hence the benefit is distributed to both farmers and customers through various subsidies and necessary aid in order to attain food security and stabilize the price of rice thereby improving the welfare of Indonesians
format	Article
author	Alif Wildana, Muhammad Dandy Syed Jaafar Alhabshi, Syed Musa
author_facet	Alif Wildana, Muhammad Dandy Syed Jaafar Alhabshi, Syed Musa
author_sort	Alif Wildana, Muhammad Dandy
title	Proposed Waqf framework for food security and price stabilization policy of rice in Indonesia
title_short	Proposed Waqf framework for food security and price stabilization policy of rice in Indonesia
title_full	Proposed Waqf framework for food security and price stabilization policy of rice in Indonesia
title_fullStr	Proposed Waqf framework for food security and price stabilization policy of rice in Indonesia
title_full_unstemmed	Proposed Waqf framework for food security and price stabilization policy of rice in Indonesia
title_sort	proposed waqf framework for food security and price stabilization policy of rice in indonesia
publisher	IIUM Press
publishDate	2018
url	http://irep.iium.edu.my/68324/1/68324%20-%20Proposed%20waqf%20framework%20for%20food%20security.pdf http://irep.iium.edu.my/68324/ http://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/305
_version_	1643618320808673280
score	13.211869

Proposed Waqf framework for food security and price stabilization policy of rice in Indonesia

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