The IMPLEMENTATION OF CASH WAKF MANAGEMENT

Study at the Ziswaf Agency of the Al Yasini Islamic Boarding School, Pasuruan

Abstract

Abstract

Waqf serves as a significant instrument within the Islamic economy, aimed at fostering a prosperous society. Traditionally, waqf has been perceived primarily as a practice reserved for the affluent, given that contributions are often associated with land and real estate. However, in Indonesia, a new alternative for waqf contributions has emerged: cash waqf, facilitated by the enactment of Law No. 41 of 2004, which governs the management of cash waqf funds. This study explores the implementation of cash waqf at the Al-Yasini Kopontren Ziswaf Agency, an Amil Zakat Institution that actively engages in cash waqf initiatives. Employing a qualitative research approach, the study analyzes data through interactive models. The findings reveal that the cash waqf funds at the Al-Yasini Kopontren Ziswaf Agency are invested in shares of the retail venture "Al Yasini Mart." The dividends generated from this investment are allocated to provide scholarships for orphans, underprivileged students, and high-achieving scholars, as well as for those memorizing the Quran at the Al-Yasini Islamic Boarding School.