Cooperative Based on Corporate Share Waqf as a Disruption for Sustainable People's Economy Movement in Indonesia - A Proposal

Abstract

The challenges faced by cooperatives are complex and largely internal. Issues such as value and goal disorientation, limited member participation in development, weak enforcement and supervision, and a lack of capacity building are common problems. These challenges stem from the foundation of cooperatives, which are their members. If the members are weak, the strength of the cooperative will also be disrupted. Resolving these internal issues is crucial for the progress and growth of cooperatives. The proposal for the Corporate Equity Waqf-based Cooperative Scheme is a disruption aimed at addressing internal issues within cooperatives, improving corporate governance, and ensuring the sustainability and continuity of the grassroots economic movement. This research utilizes a qualitative analysis method by analyzing secondary data through literature review and related documents. The literature review will provide a better understanding of the context and theoretical foundation of this scheme. With this scheme, cooperatives can obtain significant share ownership in companies, thus providing opportunities to receive a proportional share of the company's net profits. This income can become a sustainable source of revenue for cooperatives and their members. Additionally, this scheme also provides security and legal certainty regarding the ownership of waqf shares of the cooperative in corporations. With clear and unchangeable provisions, cooperatives can protect the interests of their members and prevent the takeover of the cooperative by irresponsible parties.