Munich Personal RePEc Archive

Problematics in Development and Management of Money Affairs (Cash Affairs) in Indonesia

Nashihah, Faidatun (2019): Problematics in Development and Management of Money Affairs (Cash Affairs) in Indonesia.

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Abstract

This article explains the problems in the development and management of cash waqf in Indonesia. Cash waqf by people, groups of people, and institutions or legal entities in the form of cash. Waqf cash is still debated among scholars whether it is legal or not, and managing cash waqf professionally is still a discourse and not many people or institutions can accept such waqf models. This article also discusses understanding, legal basis, problematics, management and solutions. Also discussed about cash waqf as the basis for community economic development by opening up Muslim rigidity to cash waqf, as well as the economic prospects of waqf property. The potential of waqf is one of the instruments of economic empowerment for Muslims even though management in Indonesia is still not good. But seen from the number, waqf property in Indonesia is quite large. Money waqf has played an important role as one of the new Islamic fiscal instruments in the economy. Money waqf has two functions as a means of worship and the achievement of social welfare. This article tries to explore how the problems in developing money waqf management such as the way it is distributed and its circulation and how the waqf is able to have a good impact on the surrounding community.

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