Revitalization of Traditional Market Through Wakaf Legal Entity and Possiblity of Application in Indonesia Legal System
- Author Fatimah Zahara
- Co-Author Mustapa Khamal Rokan, Tety Marlina Tarigan
- DOI https://ww
- Country : Indonesia
- Subject :
Keywords : Traditional Markets, Legal Entity, Wakaf (Endowments).
Abstract
This research has been motivated by many displaced traditional markets due to government policy. One reason is the issue of legal entity used to owned enterprises by local government (BUMD) and private markets. This paper would like to propose an alternative market legal entity with wakaf legal entity. The nature of the legal entity everlasting wakaf is flexible, so that it appropriate alternative markets legal entity in Indonesia. This study uses normative method by reviewing legislation relating to wakaf and market. This study also uses the teh emperical studies at wakaf market in Mandailing Natal, North Sumatra. The results of this study indicate that the wakaf legal entity can become a alternative legal entity market due to four things namely, the nature of the wakaf legal entity eternal, independent or no intervention the government, joint ownership (nazir) were selected on the basis of trust, and not monopoly as practice in market wakaf at Mandailing Natal, North Sumatra, Indonesia.
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