Jakarta, MINA — Istiqlal Mosque, through the Istiqlal Global Fund (IGF), signed an MoU with PT Majoris Asset Management to launch a Share Endowment Program (Wakaf Saham), at the 2025 Capital Market Summit & Expo (CMSE) on Saturday.
Witnessed by Prof. Nasaruddin Umar and the Minister of Religious Affairs, the initiative aims to unlock the vast economic potential of Indonesian Muslims, which Nasaruddin described as a “sleeping giant” worth an estimated Rp 1,800 trillion (USD 110 billion).
He stressed that beyond zakat, waqf has historically driven economic growth, citing examples from Jordan and Kuwait where endowment revenues exceed zakat. “Waqf must go beyond mosques and cemeteries. It should be developed productively, including through share endowments,” he said.
IGF Director Ahsanul Haq said the program would bridge the gap between the Islamic endowment movement and the capital market, making it more inclusive and accessible.
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The signing was part of CMSE 2025 themed Pasar Modal untuk Rakyat ‘Satu Pasar Berjuta Peluang’ (Capital Market for the People: One Market, Millions Benefits),” followed by a talk show with leading Islamic scholars.[]
Mi’raj News Agency (MINA)
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