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Cash Waqf and People Economic Empowerment in Indonesia

Author

Listed:
  • Uswatun Hasanah

    (Faculty of Law, University of Indonesia)

Abstract

Waqf is one of the Islamic institutions that tightly relates to social and economic problems of society. In many countries having developed productive waqf, waqf serves as one of pillars of their economies. In Indonesia, where Moslems are the majority of its population, the existing waqf has not yet been able to empower the people’s economy substantially. This is probably due to the fact that the waqf existing in Indonesia is limited to the fixed assets and has not been managed productively. With the issuance of Law Number 41 Year 2004 on Waqf, it is expected that in Indonesia waqf may grow and develop satisfactorily, so that the results can be used to assist the government in solving the people’s social and economic problems. The law on waqf governs not only fixed waqf assets, but also movable assets, including money. It is also important that waqf shall be managed by professional waqf nazhir (waqf managers) with the assistance of Indonesian Waqf Board

Suggested Citation

  • Uswatun Hasanah, 2011. "Cash Waqf and People Economic Empowerment in Indonesia," Economics and Finance in Indonesia, Faculty of Economics and Business, University of Indonesia, vol. 59, pages 215-232, August.
    • Handle: RePEc:lpe:efijnl:201110
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    Cited by:

    1. Rindawati Maulina, 2022. "Factors Influencing the Success of Retail Cash Waqf Linked Ṣukūk (CWLS) Issuance: A Lesson from Indonesia العوامل المؤثرة في نجاح إصدار صكوك التجزئة المرتبط بالوقف النقدي (CWLS): درس من إندونيسيا," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 35(1), pages 57-74, January.

    More about this item

    Keywords

    Cash waqf; Wakif; Nazhir;
    All these keywords.

    JEL classification:

    • Z12 - Other Special Topics - - Cultural Economics - - - Religion
    • H00 - Public Economics - - General - - - General

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