Cash Waqf: Innovation in Mobilizing the Potential of Waqf
Moh Fakhrurozi, Warsiyah, Noorikha Pandayahesti Saputeri, Aditya Pratama

Faculty of Islamic Religion, University of Muhammadiyah Lampung

Abstract

In Indonesia, the potential for cash waqf to be collected is enormous. Cash waqf is a waqf made by a person, group, institution or legal entity in the form of cash. The sustainability of the cash waqf principal value must be guaranteed or its value. Cash waqf must be invested in productive activities so that the value of cash waqf benefits can be obtained.
This study aims to determine innovations in the digital mobilization of the potential of waqf. The method used in this research is descriptive qualitative. To mobilize waqf, the Indonesian Waqf Education Foundation or the Indonesian Waqf Education Foundation (YEWI) pioneered the formation of the Duta Wakaf Institute as an institution that organizes training & certification of waqf consultants. Waqf ambassadors are expected to be able to educate the public to do charity digitally. The position of the ambassador for waqf is between Nazhir and Wakif. In managing cash waqf, Nazhir must cooperate with the LKS-PWU (Sharia Financial Institution Cash Waqf Recipient) bank so that the principal value of cash waqf is guaranteed. Cash waqf opens opportunities for people to give charity in a sustainable manner. Cash waqf can be made with a relatively small amount of money and collected together to meet the requirements for issuing a certificate from the LKS PWU. The profit sharing from the waqf investment is used to finance the activities programmed by Nazhir.
For the results of cash waqf can be used to create jobs in order to reduce unemployment, help business capital for MSMEs in need, guidance, development of education and assistance with education costs, development of public infrastructure. Innovations in mobilizing the potential for waqf need to be socialized because it can be done digitally and anytime without regional boundaries, especially in Indonesia.

Keywords: cash waqf- innovation- waqf ambassador

Topic: Economics