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In Indonesia, waqf revival has been very significant in the past decades after the consolidation of regulation and bureaucratic procedures in the waqf sector in the form of Law No. 41 of 2004 on Waqf and the establishment of the Indonesian Waqf Board (BWI) in 2007. (Shutterstock/File)
Indonesia, as the country with the largest Muslim population and the most generous country worldwide (World Giving Index, 2018), is very much expected to play a significant role in harnessing the potential of Islamic endowments to promote prosperity and justice.
In recent months, Indonesia has conducted a series of highly appreciated efforts to improve waqf, or Islamic endowments.
Indonesia announced the core waqf principles after they had been formulated at the international working group Waqf Core Principles during the International Monetary Fund-World Bank annual meetings in Bali in October.
This set of principles aims to make the management of Islamic endowments more effective in terms of realizing the full potential of resource mobilization to reach various development goals.
Following that, i...
Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.
