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New hope for development of waqf
According to a study by the National Alms Agency (Baznas), the total amount of zakat (alms) collected in 2016 reached Rp 2.3 trillion — or equivalent to 0.01 percent of the total potential waqf that is estimated to reach Rp 217 trillion.
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Muslims pay zakat fitrah alms at Istiqlal Mosque in Jakarta. During Ramadhan, Muslims are obliged to pay the special alms that will be distributed to those in need. (JP/Seto Wardhana)
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n late November this year, President Joko “Jokowi” Widodo inaugurated 27 members of the Indonesian Waqf Board (BWI), with former communication and information minister Mohammad Nuh being elected as the chairman of the board.
The appointment of the board’s members marked the beginning of a new journey of waqf development in Indonesia that is full of great opportunities and potential for an Islamic endowment. It brings new hope to accelerate the role of waqf in improving the welfare of the people.
The BWI is an independent state agency established under Law No. 41/2004. Its task is to develop and promote endowment funds in Indonesia. The BWI will not take over the endowment assets that had been managed by existing nāzir (waqf asset managers).
Instead, it is expected to guide and ensure that those assets can be better managed so that they can provide a greater benefit to the community, either in the form of social services, economic empowerment, public infrastructure and poverty alleviation.
According to a study by the National Alms Agency (Baznas), the total amount of zakat (alms) collected in 2016 reached Rp 2.3 trillion — or equivalent to 0.01 percent of the total potential waqf that is estimated to reach Rp 217 trillion.
If it is compared to the potential of waqf, the value is supposed to be far greater than zakat since there is no restriction on nisab (the minimum amount of wealth owned as obligated for zakat) or haul (the minimum period of ownership to be obligated for zakat) as applied in zakat.
However, according to the National Development Planning Board (Bappenas), the collected cash waqf total only Rp 22 billion at present.
