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Education in Indonesia still has significant problems such as the lack of adequate learning facilities, the low quality of education, the high cost of education and the large number of students who drop out of school. The main problem of Indonesian education is the high cost of education, making it difficult for students with middle to lower economy to continue their education. Waqf as an Islamic philanthropy can be a solution to education financing, supported by the MUI Fatwa with the provision of waqf developed with sharia securities through crowdfunding platforms. The regulation of cash waqf through the MUI (Indonesian Ulema Council) Fatwa was developed following the times in Fatwa No. 140/DSN-MUI/VIII/2021 which explains waqf as one of the sharia securities as financing waqf. However, the collection of waqf funds for education financing is still not optimal. So, this research aims to provide an alternative to waqf as an Islamic social financing system that can develop the quality of education in Indonesia with the aim of SDGs (Sustainable Development Goals) in creating quality education. This research method uses library research method with literature study analysis through MUI fatwa approach. The results of this study explain the contract scheme that can make it easier for waqif to waqf through crowdfunding in the form of education financing investment, namely the wakalah bil istismar contract and the syirkah contract. However, crowdfunding for education financing is not widely applied for.

Purpose: The proponents of cash waqf speak highly about its huge potential for mobilizing the third sector of the economy to fund the socio-economic development agenda. However, the under-collection issue has been characterizing the cash waqf movement globally. This study aims to examine how understanding the distinct cash waqf donating behavior across different generations has the potential to address the problem. Design/methodology/approach: This study extends the theory of planned behavior by adding religiosity and knowledge variables into the standard model, using the partial least square structural equation modeling. A survey is conducted on 684 respondents representing the main provinces in Indonesia and four major generations (Baby Boomers [BB], Generations X, Y and Z). Findings: Religiosity, Knowledge, Attitude, Subjective Norms and Perceived Behavioral Control directly or indirectly affect cash waqf intention. The effect is contingent on the characteristics of generations. Research limitations/implications: This study covers only the Indonesian case with limited coverage of the more heterogeneous provinces in the country. The sample distribution for BB can also be enlarged. Practical implications: Cash waqf institutions (government and private) should apply the dynamic segmenting strategy, where the diversification of the promotion, marketing, awareness and approaches are contingent on the different characteristics of each generation. Originality/value: To the best of the authors' knowledge, this is the first study evaluating the intergenerational determinants of Intention toward cash waqf, particularly in Indonesia. [ABSTRACT FROM AUTHOR]

Purpose: The study aims to explore the impact of demographic characteristics on the likelihood and attention of the public to determine cash waqf (endowments) in Pakistan. Design/Methodology/Approach: The study employed regression analysis on 100 participants’ data from a survey, which recruited participants' responses via a questionnaire. Research focuses on assessing age, income level, educational attainment, as well as religion to identify why people would want to get into cash waqf. Findings: Factors such as population have demonstrated significant influence on the ability to spend cash waqf, with age, income level, educational qualification, and religious factors playing a significant role in the decision. Implications/Originality/Value: The research is part of the fields where charity culture is used within Islamic finance contexts, providing policymakers and other stakeholders with a comprehensive understanding to foster a more giving society and enhance welfare in Pakistan. More studies need to be undertaken to investigate further the makeup of different factors that have the same influence on the amount of cash Waqf and to verify the conclusions on other populations, too. [ABSTRACT FROM AUTHOR]

This research aims to determine waqf literacy products in journals in Indonesia and Malaysia, especially cash waqf, which is expected to address the problem of low public understanding of cash waqf and may be due to not being supported by adequate literacy products. Research on waqf literacy products that focus on cash waqf is more due to the increasing trend of cash waqf, along with its great potential. The research method uses bibliometric mapping with metadata obtained from the Publish or Perish (PoP) application to access Google Scholar by filtering the titles Cash Waqf Indonesia and Malaysia and its publications in the form of journals. To visualize the bibliometric network, this study used the VOSViewer version 1.6.19. The accessed journals are limited to the last five years, 2018-2023. From the search results, Cash Waqf Indonesia had 106 journal articles, and Cash Waqf Malaysia had 40. Indonesian and Malaysian cash waqf literacy products published in journals are few. Likewise, cash waqf studies associated with productive waqf themes are still few in number, and the focus of productive waqf studies is still limited to sukuk and micro-enterprises. The low level of public understanding of cash waqfs in Indonesia and Malaysia may be partly due to the lack of literacy products.

Fundamentally, the Global Alliance for Banking on Values (GABV) is a networking synergy of banks to promote sustainable growth in economy, society, and environment via their financial services. Similarly, the Value-based Intermediation (VBI) in Islamic finance is an initiative by the Central Bank of Malaysia to strengthen the genuine role of Islamic financial institutions in social finance. Islamic social finance instruments, particularly cash waqf, have been predominantly proposed in various viable models in the literature. Some models have been put into practice, while several remain potentially workable in the future. As numerous research delve into the feasibility and enablers of cash waqf, the embed values have been marginally discussed, especially considering the functional roles of the financial intermediaries in an Islamic financial system. Moreover, Islamic banks have been criticized for several misconceptions of merely replicating conventional banking structures, imposing an exorbitant ‘profit rate’ without due understanding and consideration to the institutions as business entities. Such misconceptions contradict the philosophical underpinnings of Islamic banking and finance discipline. Hence, the adoption of VBI within Islamic banks is expected to strengthen their self-discipline towards serving the society, via redistributive instruments. In this study, cash waqf models proposed are summarized to establish the linkage between VBI and cash waqf structures. Employing content analysis, this article goes beyond the tangibility of cash waqf by deducing the imbued values to propose a sustainable value-based conceptual framework of cash waqf, which is hoped to further empower and encourage the stakeholders in a cash waqf structure.

This research is motivated by the author's interest in looking at non-governmental institutions that have made a major contribution in socializing waqf literacy, educating waqf other than the Indonesian Waqf Board (BWI). The institution in question is the Indonesian Waqf Education Foundation (YEWI), which was founded in 2014 in Yogjakarta. As an institution that also meets with the Indonesian Waqf Board, the Indonesian Waqf Education Foundation (YEWI) has programs that prevent the same thing, but focus more on increasing literacy and involvement in the waqf community. This research uses descriptive qualitative methods. Researchers interviewed 3 YEWI administrators and several alumni who participated in training held by YEWI. Data shows that 1) Indonesia has the largest Muslim population in the world, but the realization of waqf is still small. 2) Waqf has not functioned optimally as a solution to solving the problem of economic empowerment as expected by Islamic sharia, so that the effect of improving the economy has not been felt by the community. 3) The level of public literacy regarding waqf issues is still low, so that public enthusiasm or awareness of waqf is still low. The researcher concluded that the waqf education strategy carried out by YEWI in order to increase the waqf literacy index in Indonesia was by forming several work units, namely: a) Duta Waqf Institute, b) Waqf Consulting and Planning Bureau, c) Duta Wakaf Networks, and d) Social Indonesia Preneur Association (INSANI). Second, YEWI has prepared work programs, namely: a) Waqf Ambassador Professional Program, b) Waqf Literacy Program, c) Waqf Participation Program.

The monitoring of upstream and downstream halal standards is crucial for Indonesia due to its large Muslim population and the increasing global demand for halal products. Indonesia has the potential to become a leading center for the Sharia economy and finance. Thus, developing the halal food and Islamic finance sectors is one strategy to unlock their potential, while strengthening the halal-value chain ecosystem further aids the expansion of the halal food industry. Therefore, this study aims to develop the halal food sector and the Islamic financial sector by integrating the halal value chain into the establishment of a food court financed through the Cash Waqf Linked Sukuk (CWLS) Islamic financial instrument. This study used qualitative methods with primary and secondary data sources. The primary data came from observations and interviews with the Indonesian Waqf Board (BWI). While the secondary data used in this study includes research findings regarding the Halal Value Chain as well as the framework for the application of CWLS funds. The result shows that accelerating the establishment of a halal food court ecosystem can be implemented through CWLS funding. This framework offers financial assistance while maintaining the halal status of food court management. This study provides suggestions to the government on how to enhance the halal ecosystem for Indonesia’s halal ecosystem improvement.

Fundamentally, the Global Alliance for Banking on Values (GABV) is a networking synergy of banks to promote sustainable growth in economy, society, and environment via their financial services. Similarly, the Value-based Intermediation (VBI) in Islamic finance is an initiative by the Central Bank of Malaysia to strengthen the genuine role of Islamic financial institutions in social finance. Islamic social finance instruments, particularly cash waqf, have been predominantly proposed in various viable models in the literature. Some models have been put into practice, while several remain potentially workable in the future. As numerous research delve into the feasibility and enablers of cash waqf, the embed values have been marginally discussed, especially considering the functional roles of the financial intermediaries in an Islamic financial system. Moreover, Islamic banks have been criticized for several misconceptions of merely replicating conventional banking structures, imposing an exorbitant ‘profit rate’ without due understanding and consideration to the institutions as business entities. Such misconceptions contradict the philosophical underpinnings of Islamic banking and finance discipline. Hence, the adoption of VBI within Islamic banks is expected to strengthen their self-discipline towards serving the society, via redistributive instruments. In this study, cash waqf models proposed are summarized to establish the linkage between VBI and cash waqf structures. Employing content analysis, this article goes beyond the tangibility of cash waqf by deducing the imbued values to propose a sustainable value-based conceptual framework of cash waqf, which is hoped to further empower and encourage the stakeholders in a cash waqf structure. [ABSTRACT FROM AUTHOR]

Waqf is one of the Islamic philanthropies that can help improve the socio-economics of a society through humanitarian services and waqf is not limited to assets. In developing waqf property, the issue of manpower and management costs is a challenge for managers because it involves large and continuous funds. There is a need to clarify the law of using cash waqf to finance the cost of human resources. The objective of this study is to clarify the necessity of service waqf as well as its application in the development of waqf property through jurisprudential debate. This study uses a qualitative method by gathering the views of jurists regarding cash waqf, waqf benefit, and permanent conditions on mawqūf. The data is then analyzed and appropriate views are presented taking into account the current situation in Malaysia. The findings of the study show that the appropriate service waqf implementation is through the contribution of benefits to the public by donating the service wage payment to a waqf body. Therefore, the contribution of the benefit is named a service waqf scheme which consest of a voluntary contribution of expertise to the community. This kind of implementation is permissible according to the majority of jurists who allowed cash waqf. In order to encourage the community to give waqf through this scheme, the wāqif can get an income tax deduction from the amount of labor wages that is waqf. In addition, the company can introduce a program in the form of volunteering to encourage the contribution of expert energy for free by branding it as a service waqf contribution. [ABSTRACT FROM AUTHOR]

Copyright of Share: Journal of Islamic Economics & Finance / Jurnal Ekonomi dan Keuangan Islam is the property of Share Jurnal Ekonomi dan Keuangan Islam and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Share: Journal of Islamic Economics & Finance / Jurnal Ekonomi dan Keuangan Islam is the property of Share Jurnal Ekonomi dan Keuangan Islam and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Introduction: Waqf is one of the Islamic social financial instruments, having the distinctive characteristic that waqf assets are donated voluntarily by the wakif and are permanently designated for social benefits. Waqf can be used for productive or commercial activities to generate profits by Sharia law. Cash waqf can play a role in supporting the overall development process, both in human resource development, as well as in economic and social development. This study tries to explore the role of cash waqf for microfinance which can subsequently help the people's economy. Methods: The research method used in this research is quantitative research with bibliometric analysis. Data sources collected secondary data obtained from the Google Scholar database. Data were obtained using Publish or Perish (POP) software and analyzed using VOSviewer software. Results: The results of this research show that, from data searches using the keywords "cash waqf", "microfinance" and "sharia microfinance" by limiting 500 papers in the 2010-2024 time period, the words "microfinance institutions" are the most frequent keywords, indicated by a darker color than other keywords. Conclusion and suggestion: Based on the results and analysis, it can be concluded that, from year to year, research on the topic of cash waqf for microfinance is most often used. However, research on the topic of cash waqf for Sharia microfinance is still limited. Therefore, future research can be carried out regarding cash waqf for sharia microfinance. Cash waqf plays an important role in supporting the overall development process, both in human resource development, as well as in economic and social development. The potential of cash waqf can be used as a means of economic empowerment for lower-middle-class communities with the role played by microfinance institutions.

The Hasanah Waqf Crowdfunding Platform was created to make it easier for people to have waqf. With the large potential of waqf in Indonesia, the accumulated amount of waqf in Hasanah Waqf is still far from the target. The research objective was to analyze the factors that influence the perception of waqf through the Hasanah Waqf platform using a combination theory of the Technology Acceptance Model (TAM) and Theory of Planned Behavior (TPB) as well as literacy and trust as external factors. The population is all Muslim communities in Indonesia. The sampling technique used non-probability sampling of as many as 369 people. Quantitative research methods with data analysis techniques Structural Equation Modeling-Partial Least Squares (SEM-PLS). The results showed that perceived ease of use has a positive effect on perceived usefulness. Perceived usefulness and perceived ease of use have a positive effect on people's attitudes. However, the attitude towards the Hasanah Waqf platform has a negative effect on the intention to do waqf through the Hasanah Waqf platform. Subjective norms have a positive effect on intention waqf money through the Hasanah Waqf platform. Perceived behavioral control has a negative effect on the intention of waqf through the Hasanah Waqf platform. Literacy and trust have a positive effect on the intention for waqf through the Hasanah Waqf platform. And the intention has a positive effect on the behavior of waqf money through the Hasanah Waqf platform. This research is expected to provide information to increase the collection of cash waqf in Indonesia.

Introduction: Waqf is one of the Islamic social financial instruments, having the distinctive characteristic that waqf assets are donated voluntarily by the wakif and are permanently designated for social benefits. Waqf can be used for productive or commercial activities to generate profits by Sharia law. Cash waqf can play a role in supporting the overall development process, both in human resource development, as well as in economic and social development. This study tries to explore the role of cash waqf for microfinance which can subsequently help the people's economy. Methods: The research method used in this research is quantitative research with bibliometric analysis. Data sources collected secondary data obtained from the Google Scholar database. Data were obtained using Publish or Perish (POP) software and analyzed using VOSviewer software. Results: The results of this research show that, from data searches using the keywords "cash waqf", "microfinance" and "sharia microfinance" by limiting 500 papers in the 2010-2024 time period, the words "microfinance institutions" are the most frequent keywords, indicated by a darker color than other keywords. Conclusion and suggestion: Based on the results and analysis, it can be concluded that, from year to year, research on the topic of cash waqf for microfinance is most often used. However, research on the topic of cash waqf for Sharia microfinance is still limited. Therefore, future research can be carried out regarding cash waqf for sharia microfinance. Cash waqf plays an important role in supporting the overall development process, both in human resource development, as well as in economic and social development. The potential of cash waqf can be used as a means of economic empowerment for lower-middle-class communities with the role played by microfinance institutions. [ABSTRACT FROM AUTHOR]

Cash waqf is a form of contemporary waqf that has great potential in the modern world. In Indonesia, despite its potential of 180 trillion per year, cash waqf collection, management, and distribution are not optimal. Nonetheless, the infrastructure sector in Indonesia faces obstacles, particularly in terms of funding. The innovation of the CWLFRA (Cash Waqf Linked DINFRA) model is, therefore, a solution to these two issues, as the proposed model is the result of an integration between efforts to optimize cash waqf and infrastructure financing via the Infrastructure Investment Fund (DINFRA). In this CWL- FRA innovation, waqf funds will be allocated to the mauquf 'alaih from the profits of infrastructure investment funds, which will become a source of long-term usable assets. As a result, the purpose of this academic paper is to develop a model capable of bolstering the ecosystem of Islamic social financial institutions and maximizing the potential achievement of cash waqf in Indonesia as a means of implementing sustainable finance and an effective instrument in reviving national economy through infrastructure development. In addition, this study seeks to determine the viability of the potential for developing the productivity of cash waqf in an effort to increase the effectiveness of achieving cash waqf to support economic sustainability with infrastructure potential. Nine respondents representing academicians and expert practitioners from both the waqf and infrastructure sectors filled out questionnaires to collect data. According to the results of the Delphi test, all respondents believed that there was a relationship between the Strengths, Weaknesses, Opportunities and Threats (SWOT) indicators, indicating that this model is implementable. Moreover, based on the level of agreement of respondents, this model has the potential to contribute positively to national economic recovery, become a sustainable source of social funds, optimize the potential of waqf in Indonesia, strengthen the ecosystem of waqf social finance institutions, and improve the quality of management and maintenance of Indonesia's infrastructure. These findings demonstrate that integrating financial waqf with existing public infrastructure could positively affect the sustainability of national economic development. The novel aspect of this paper is the proposed cash waqf management system, which can serve as a useful reference for policymakers and waqf institutions seeking to develop a more effective waqf concept in terms of collection, administration, and distribution. Consequently, this study aims to demonstrate the potential for cash waqf, which can be integrated with DINFRA's product through the innovation of the CWL-FRA model, to become an investment instrument and offer a diversity of options to the waqf community. [ABSTRACT FROM AUTHOR]

Copyright of Vakıflar Dergisi is the property of T.C. Vakiflar Genel Mudurlugu and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study aims to analyze the related law No. 41 of 2004 concerning endowments in particular the rules relating to endowment management institutions entitled to collect and manage money endowments (nadzhir waqf money) in Indonesia in the context of the era of 4.0 which emphasizes Islamic financial institutions and advances in digital technology. The method used is a qualitative research method with a normative juridical approach with data collection techniques study literature, interviews, and documentation, then analyzed through descriptive analytics. The results of this study indicate that the progress and development of technology in the 4.0 era, especially in the digitalization of the waqf program, makes the collection and management of waqf money mainly depend on the technological advancements owned by the institution, massive commitment and socialization to the public regarding money waqf, and Islamic financial institutions that collaborate with nadzhir. The recipient of the waqf money is considered to have technological devices and SDI that can support the management and collection of waqf money in Indonesia, in addition to credibility in terms of financial accountability as well as the guarantor and supervisory institutions in addition to the OJK, BWI, and DPS. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Social Economic Research / Sosyal Ekonomik Araştırmalar Dergisi is the property of Sosyal Ekonomik Arastirmalar Dergisi and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Purpose – This study intends to provide an in-depth explanation of the importance of transforming cash waqf management in Indonesia through a digitalization platform. Methodology – This research was library research. The data collection techniques used in this study were literature review and documentation. Data analysis techniques are in the form of content analysis. The stages of content analysis in this research were carried out by determining the problem, compiling a framework of thought, compiling methodological tools, analyzing literature data, and interpreting the data that have been obtained. Findings – The findings of this study suggest that cash waqf innovation through digital platforms has proven to be an applicable solution. The transformation of cash waqf management through digital platforms has proven to accelerate the growth of waqf assets and the benefits of waqf for the improvement of community welfare and to increase public knowledge and awareness of cash waqf. The constraints of digital cash waqf development in Indonesia are the lack of qualified and professional nazirs and human resources, strong business network for digital cash waqf development, digital cash waqf socialization among the public, and popularity of digital waqf institutions. Implications – This research is useful for improving the transformation of cash waqf management through digitalization, which has demanded collaboration and synergy between the Indonesian government and Zakat institutions. Originality – This study examined the digital transformation model of cash waqf management in Indonesia.

Purpose – This paper aims to discuss the proposed model, called Integrated Cash Waqf and Islamic Crowdfunding Model (I-CWCM), for small and medium enterprises (SMEs), including micro-enterprises and household businesses in the digital era. Methodology – The author documents some cash waqf models and Islamic crowdfunding models that have been developed by previous researchers. And then modified and introduces the I-CWCM model based on the relevant literature study. Findings – In this model, the cash waqf funds (temporary and perpetual) will be invested in Islamic investments and productive asset programs. The investment return gained from cash waqf investments will be utilized for providing financial services by using PLS financing schemes and non-PLS financing schemes for SMEs. Implications – The article is conceptual in nature, and the developed model has not been tested either through interviews or empirical testing. For further research, it is necessary to validate the model either through interviews or by developing hypotheses. Furthermore, the I-CWCM will be possible to set up Islamic social finance institutions, Islamic financial institutions, and Islamic microfinance institutions in a country with a majority Muslim population like Indonesia, especially in times of crisis such as Covid-19 outbreaks. Originality – The originality of this study is the I-CWCM will include two important unit funds: (1) the reserve fund is for sustaining the cash waqf founder, and (2) the backup risk fund is for addressing any risk in business and non-business financing activities.

Waqf is one of the instruments of the Islamic economy that aims to achieve the objectives of the Islamic economy, namely producing a rich life. The concept of Waqf is still considered to be the practice of the rich, because the payment is identical to that of land and buildings. Currently, in Indonesia, there is a new method of paying off the waqf that is available, this is cash-based and is derived from Law number 41 of 2004 regarding the management of cash-based funds associated with the waqf. This investigation describes the procedure of implementing cash waqf in the Al-Yasini Kopontren Ziswaf Agency as an Amil Zakat Organization that has employed cash waqf. This research employs a qualitative methodology with data analysis methods that involve interaction. From the research results, it is apparent that the utilization of cash funds at the Al-Yasini Kopontren Ziswaf Board is invested in the form of shares in the retail business "Al Yasini Mart". The income from the dividend is dedicated to funding scholarships for impoverished, unfortunate, and unlucky Al-Yasini Islamic Boarding School students, students who are exceptional in school, and hafidz students who memorize the Quran.

Explicitly, cash waqf does not have specific arguments about its permissibility in the Qur'an or the hadith of the Prophet Muhammad SAW. In Indonesia, the permissibility of cash waqf is determined based on the fatwa of the Indonesian Ulema Council (MUI) dated May 11, 2002. This study aims to review the arguments of the Koran and hadith which form the basis of the MUI fatwa. In examining the meaning of the verses and hadiths, the method of thematic interpretation of terms and fiqh al-hadith is carried out. This study found that, 1) the verse used as the basis for the fatwa is QS. Ali Imran [3]: 92 and (QS. al-Baqarah [2]: 261-262, 2) the traditions used as the basis for the fatwa are those narrated by Ibn Umar and recorded by al-Bukhari, Muslim, al-Tirmidhi, and al-Nasa'I, 3) the arguments of the Qur'an and hadith that are used, although they do not explicitly state about cash waqf, the meaning obtained can explain that cash waqf is a form of waqf that is very possible to implement

Cash waqf is a form of contemporary waqf that has great potential in the modern world. In Indonesia, despite its potential of 180 trillion per year, cash waqf collection, management, and distribution are not optimal. Nonetheless, the infrastructure sector in Indonesia faces obstacles, particularly in terms of funding. The innovation of the CWLFRA (Cash Waqf Linked DINFRA) model is, therefore, a solution to these two issues, as the proposed model is the result of an integration between efforts to optimize cash waqf and infrastructure financing via the Infrastructure Investment Fund (DINFRA). In this CWL-FRA innovation, waqf funds will be allocated to the mauquf 'alaih from the profits of infrastructure investment funds, which will become a source of long-term usable assets. As a result, the purpose of this academic paper is to develop a model capable of bolstering the ecosystem of Islamic social financial institutions and maximizing the potential achievement of cash waqf in Indonesia as a means of implementing sustainable finance and an effective instrument in reviving national economy through infrastructure development. In addition, this study seeks to determine the viability of the potential for developing the productivity of cash waqf in an effort to increase the effectiveness of achieving cash waqf to support economic sustainability with infrastructure potential. Nine respondents representing academicians and expert practitioners from both the waqf and infrastructure sectors filled out questionnaires to collect data. According to the results of the Delphi test, all respondents believed that there was a relationship between the Strengths, Weaknesses, Opportunities and Threats (SWOT) indicators, indicating that this model is implementable. Moreover, based on the level of agreement of respondents, this model has the potential to contribute positively to national economic recovery, become a sustainable source of social funds, optimize the potential of waqf in Indonesia, strengthen the ecosystem of waqf social finance institutions, and improve the quality of management and maintenance of Indonesia's infrastructure. These findings demonstrate that integrating financial waqf with existing public infrastructure could positively affect the sustainability of national economic development. The novel aspect of this paper is the proposed cash waqf management system, which can serve as a useful reference for policymakers and waqf institutions seeking to develop a more effective waqf concept in terms of collection, administration, and distribution. Consequently, this study aims to demonstrate the potential for cash waqf, which can be integrated with DINFRA's product through the innovation of the CWL-FRA model, to become an investment instrument and offer a diversity of options to the waqf community.

Introduction: Money waqf is one of the current method that i support community welfare. However, it is still limited study that highlighted the practical implementation of money waqf. Therefore, the aim of this research is to describe the role of cash waqf in improving the community's economy and the country's economic growth. Method: The method used is by literature research with a content analysis approach. Results: The research results show that the management/cash waqf management system found is still inadequate, thus hampering the realization of cash waqf by the community. However, if cash waqf is collected, it will become a new instrument for the government to boost the economy, especially in the post-pandemic period. Several areas that able to provide by cash waqf are education, healthcare, social services, and SMEs. However, the managerial system become crucial part to promote general welfare program in the society. Conclusion and suggestion: The managerial implication is that there is a need to educate the public about the function of cash waqf and train nazir to be able to manage waqf using technology. The realization of appropriate waqf funds will ultimately increase the level of waqif trust in transparent and accountable waqf management. [ABSTRACT FROM AUTHOR]

Cash waqf has significant potential to improve Muslims' economies, particularly in financing social and cultural activities. Most governments today are experiencing financial difficulties, with inadequate means to cover public needs and ensure that all residents are in good standing. Thus, this paper discusses internal factors such as trust, familiarity, and perceived efficacy as possible factors influencing cash waqf endowers' intention to reendow. The population for this study is 13,940 cash waqf donors in the Klang Valley, which covers Selangor and Kuala Lumpur, and a purposive sampling method was used. Based on the finding gathered using PLS analysis on 382 respondents indicated that internal factors (trust, familiarity, perceived efficacy) positively influence intention to reendow among cash waqf endowers. Trust is the most dominant factor that influences the intention to reendow. It may indicate that the higher the trust level a person has, the higher the intention to reendow. These study suggestions are other variables influencing the intention to reendow and should be explored further. Moreover, this study offers management implications, such as empirically proven conclusions on internal factors (trust, familiarity, perceived efficacy) that influence endowers' intention to reendow to waqf organisations.

This paper is a study of the practice of Waqf-Al-Nuqud in Malaysia and Indonesia. How is the practice of cash waqf in each of these countries by looking at the results and allocations. This problem is described by comparative research, namely research conducted to compare a variable (object of research), between different subjects and find a causal relationship. The research is directed to find out whether between two or more groups there are differences in the aspects or variables studied. Based on the results of the discussion, the author understands that the waqf practice carried out by Malaysia and Indonesia can be seen the difference. The practice of cash waqf in Malaysia is better known as stock waqf where cash waqf is collected from various circles of society with a stock waqf system by setting a minimum number of share prices that can be purchased by the public which will later be used as a property waqf that is utilized according to the purpose of waqf according to sharia. As for Indonesia, the practice of classical waqf is still very widespread. Regulations have been adequate even with the rules for managing it, but it seems that not many people know about cash waqf which is easier and more affordable. However, the presence of TWI has become a breath of fresh air for the development and socialization of cash waqf in Indonesia. TWI also issued a cash waqf certificate as a form of eternal cash waqf. It can be seen that TWI is still the community's choice for waqf compared to BWI which is a national waqf institution. But in reality, according to TWI regulations, it is not the institution intended to issue cash waqf certificates.

Vakif Participation Bank was established in 2015 as a joint stock company with capital from the mazbūt awqaf under the full management and representation of the T.R Directorate General of Foundations and the Bayezid II, Mahmut I, Mahmut II, and Murat Pasha Foundations. Establishing a bank with a cash waqf [foundation] was essentially the dream of the sheikh al-Islam and the Awqaf Minister of the Second Constitutional Era, Mustafa Hayri Efendi. In 1914, he achieved this dream to a certain extent by getting Parliament to pass Evkaf Bankası Kanunu (Evkaf Bank Law). However, the outbreak of World War I impeded the de facto establishment of this bank. His dream partially came true with the establishment of Vakiflar Bank in 1954, then more fully with the establishment of Vakif Participation Bank in 2015 through the amount received from the treasury in exchange for the waqf shares in Vakiflar Bank. This article will tell the tales of these three different banks from three different worlds that aimed to establish a bank with a cash waqf by revolving around the legal institutions of cash waqf, usury, and istibdal [exchange]. [ABSTRACT FROM AUTHOR]

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