Content area
Full Text
ABSTRACT
Enhancing people's welfare has always been a topic that will never stop, especially in a developing country such as Indonesia. Indonesia is known as a country with a Muslim majority. Thus, it is necessary to have another strategy to encourage community productivity through waqf. Waqf is not only in the form of assets but also in cash. However, very few Indonesians know about Indonesia's waqf scheme. The waqf management has to be strengthened so that the waqf giver (wakif) believes that their funds can be used for productive activities and comply with waqf requirements. This study aims to analyze the effectiveness of cash waqf management in improving community welfare using the SWOT method. The waqf management has to be repaired in two strategies internally, namely transparent fund management and separate with donations or other community assistance schemes. While from the external side, there is a need for strengthening the understanding that cash waqf does not have to be in a significant amount for it to create benefits. This study enriches the literature on the effective management of waqf to improve the society's perceptions of waqf.
Keywords: cash waqf, public welfare, productivity, SWOT analysis.
1.INTRODUCTION
The primary issue that many Muslim' countries faced is poverty. The policy fighting against those problems and the willingness to enhance community welfare is around the world. The poverty reduction and welfare increment not only depend on economic and social policies, population size, and resource endowments, but the types of economic undertakings are also being pursued. One study found that Muslim nations' condition is deteriorating due to financial restrictions and poverty due to unrestrained corruption. Many do not have the capacity to necessities for their immediate families due to financial problems. Thus, it has an undesirable impact on their moral, religious, social, and mental (Ali, 2012).
Under those circumstances, waqf is considered to be an important institution in the Islamic social framework. Indahsari et al. (2014) studied the implementation of waqf, and it is concluded that if its well-managed, it can reduce the poverty problem. Waqf will allow an owner (wakif) to donate and dedicates an asset (movable or immovable) for permanent social benefit. Under the waqf management (nazir), the waqf will manage then the beneficiaries (mauquf alaih) can...
