Indonesian Ministry of Religious Affairs and BWI Discuss Acceleration of Cash Waqf Program

JAKARTAADAILY.ID – The Indonesian Ministry of Religious Affairs (Kemenag) and the Indonesian Waqf Board (BWI) discussed the acceleration of the cash waqf program with a revenue target of IDR 1 trillion.

Director of Zakat and Waqf Empowerment Waryono Abdul Ghafur said that the acceleration of Zakat and Waqf programs is very important. The goal is for the utilization of zakat and waqf funds to be widely felt by the people.

"This meeting is mostly discussing how the zakat and waqf movement can be more accelerated between institutions and the benefits can be wider," he explained as quoted by the kemenag.go.id website, Tuesday, August 29, 2023.

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According to Waryono, to maximize the management of waqf funds, his party will strengthen cooperation with stakeholders, one of which is universities. Currently, there are several universities that have also done cash waqf, including ITS and ITB.

"We will involve PTKIN rectors to socialize the Cash Waqaf Linked Sukuk Retail (CWLS Retail) cash waqf movement," he said.

Wahyono added that his party will also invite DJPPR (Directorate General of Financing and Risk Management) of the Ministry of Finance, Rectors Forum, BWI, to discuss the cash waqf movement.

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"This is important to be discussed in more depth so that this program can be implemented immediately," he continued.

Meanwhile, BWI Chairman Mohammad Nuh said that his party is targeting to receive Rp1 trillion in cash waqf in 2023. He said, there are already several incorporated universities that are committed to handing over their cash waqf this year.

"For example, IPB, ITS, Telkom University, UNPAD, UNDIP," he said.

Apart from universities, the potential for cash waqf from prospective brides is also large. This potential is extraordinary if it can be done. "Cash waqf can bind their sacred promise in front of the headman. The Ministry of Religious Affairs' ASN cash waqf movement also needs to be continued. In 2020, the collection was extraordinary, almost reaching 4.3 billion," he concluded. (***)

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