Proceedings of the 2nd Borobudur International Symposium on Humanities and Social Sciences, BIS-HSS 2020, 18 November 2020, Magelang, Central Java, Indonesia

Research Article

Cash Waqf: An Innovation in Mobilizing the Potential of Waqf

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  • @INPROCEEDINGS{10.4108/eai.18-11-2020.2311706,
        author={Moh Fakhrurozi and Warsiyah Warsiyah and Noorikha Pandayahesti Saputeri and Aditya Pratama},
        title={Cash Waqf: An Innovation in Mobilizing the Potential of Waqf},
        proceedings={Proceedings of the 2nd Borobudur International Symposium on Humanities and Social Sciences, BIS-HSS 2020, 18 November 2020, Magelang, Central Java, Indonesia},
        publisher={EAI},
        proceedings_a={BIS-HSS},
        year={2021},
        month={9},
        keywords={cash waqf innovation waqf ambassador},
        doi={10.4108/eai.18-11-2020.2311706}
    }
    
  • Moh Fakhrurozi
    Warsiyah Warsiyah
    Noorikha Pandayahesti Saputeri
    Aditya Pratama
    Year: 2021
    Cash Waqf: An Innovation in Mobilizing the Potential of Waqf
    BIS-HSS
    EAI
    DOI: 10.4108/eai.18-11-2020.2311706
Moh Fakhrurozi1,*, Warsiyah Warsiyah1, Noorikha Pandayahesti Saputeri1, Aditya Pratama1
  • 1: Study program of Islamic banking, Faculty of Islamic Religion, University of Muhammadiyah Lampung, Lampung, Indonesia
*Contact email: rozi_pkbtuba@yahoo.co.id

Abstract

This study aims to determine innovations in the digital mobilization of cash waqf potential. The method used in this research is descriptive qualitative. To mobilize waqf, the Indonesian Waqf Education Foundation (YEWI) pioneered the formation of the ambassador Waqf 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). 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 Nazir. 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.