Deposits Can Be Temporary Cash Waqf

By : Wiyanto Dan Aldo Bella Putra | Monday, August 06 2018 - 16:30 IWST

Ilustrasi Rupiah (ist)
Ilustrasi Rupiah (ist)

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.

News Comment

Today's Industry

President Jokowi on Monday (14/06/2021) inspects mass COVID-19 vaccination at the Patriot Candrabhaga Stadium, Bekasi, West Java. Photo by: BPMI of Presidential Secretariat

Selasa, 15 Juni 2021 - 22:15 WIB

President Jokowi Inspects Mass COVID-19 Vaccination in Bekasi

President Joko “Jokowi” Widodo on Monday (14/06/2021) inspected mass COVID-19 vaccination at the Patriot Candrabhaga Stadium, Bekasi, West Java.

President Jokowi inspects mass COVID-19 vaccination at Pluit Dam, Jakarta. (14/06/2021). (Photo by: Press Media and Communication Bureau of Presidential Secretariat/Laily)

Selasa, 15 Juni 2021 - 20:31 WIB

President Jokowi Says Jakarta Must Provide 100,000 Doses of Vaccine Per Day

President Joko “Jokowi” Widodo Monday (14/06) inspected mass COVID-19 vaccination at Pluit dam in North Jakarta.

Minister of Cooperatives and SMEs Teten Masduki with Bandung Culinary Community at Orbital Dago, Bandung city, West Java province. (11/06/2021). (Photo by: PR of Ministry of Cooperatives and SMEs)

Selasa, 15 Juni 2021 - 19:00 WIB

Minister Urges SME Players to Build Joint Brand to Boost Competitiveness

It is important for businesses to achieve economies of scale to boost competitiveness, according to Minister of Cooperatives and Small and Medium Enterprises (SMEs) Teten Masduki. The Minister…

Minister of Manpower Ida Fauziyah delivered a statement in the Presidential Office, Monday, (10/8). Photo by: BPMI

Selasa, 15 Juni 2021 - 17:50 WIB

Gov’t Committed to Eliminating Child Labor: Minister

Minister of Manpower Ida Fauziyah has reaffirmed the Government’s commitment to eliminatie child labor. The Minister delivered the statement in her keynote speech at “End Child Labor: Virtual…

Minister of Religious Affairs Yaqut Cholil Qoumas (Photo: PR of Cabinet Secretariat)

Selasa, 15 Juni 2021 - 16:30 WIB

Gov’t to Focus on 2022 Hajj Following This Year’s Cancellation

The Government has announced it will focus on the preparation of the 2022 hajj pilgrimage (annual Muslim pilgrimage to Mecca) following the decision to cancel this year’s hajj pilgrimage due…