Deposits Can Be Temporary Cash Waqf

INDUSTRY.co.id - Depok - From the Community Service Program (Pengmas) at the University of Indonesia (UI) revealed, the potential for temporary cash waqf using deposits.

Dr. Umanto, one of the program teams said, the potential of waqf is also found in deposit funds in banks that can be temporary waqf with the results given at Nazar, when the contract expires, the profit sharing returns to the deposit owner.

According to him, the cash waqf investment management is in accordance with the amount of waqf funds available so that the amount of investment allocated is also limited.

"For money waqf, investment options are allocated to providing working capital for small businesses. Allocation of money waqf can also be used for assets that are social, unproductive. This is called waqf through real money," he said in Jakarta, Monday (6 / 8/2018).

He stressed. The use of deposits as temporary waqf has been carried out in various countries, for example in Malaysia. There Islamic banks compete in marketing this product because it adds social value and for Islamic banks there is no negative impact, on the contrary. There needs to be support from Islamic banks in Indonesia to develop cash waqf programs with this deposit basis.

"In addition, the security of this model is very good because those who can disburse fixed deposit owners," he said.