Urip Budiarto: Waqf is An Important Part in Indonesian Islamic Finance Ecosystem

Jakarta, MINA – Urip Budiarto, Deputy Director of the Sharia Social Fund of the National Committee for Sharia Economy and Finance (KNEKS) said waqf is an important part of Indonesia’s sharia economy and finance ecosystem.

This can be seen in the status records of waqf lands which are located in 429,330 locations, with a total area of 56,173.80 ha and 58.11% of them are certified, said Urip Budiarto at the National Waqf Webinar of Yarsi University Waqf Center (PWUY) Management and Risk Management Nazhir Waqf on Tuesday.

He added the number of Nazhir Cash Waqf is currently managed by 306 institutions with Islamic Financial Institutions in 29 Islamic Banks.

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Moreover, he continued, if contact with the halal industrial sector, waqf management can be even more optimal to achieve domestic and global market access.

For this reason, it is important to pay attention to factors that build the trust of candidates for wakif, such as reputation, accountability and transparency, so that they become “Good Waqf Governance”, he continued.

He also provided notes on issues of waqf management in Indonesia, such as the limited knowledge and public awareness about waqf and the not yet optimal use of technology in the waqf business process.

“Including the low quality of competence and professionalism and quantity of Nazhir’s human resources,” he added.

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Urip is also a recipient so that future waqf beneficiaries can become muzakki. Like scholarship recipients, after working and getting established, they will become muzaki. (T/RE1)

Mi’raj News Agency (MINA)