Analysis of Cash Waqf Management Strategy to Improve the Economy of the Community
DOI:
https://doi.org/10.35335/zgksa959Keywords:
Cash Waqf, Waqf Management Strategy, Islamic Social Finance, Economic Empowerment, Nazhir (Waqf Managers)Abstract
This study analyzes the management strategies of cash waqf as an instrument for enhancing community economic welfare. Cash waqf, as a flexible and productive form of Islamic philanthropy, has the potential to support sustainable development when managed effectively. The research aims to identify key factors contributing to the successful management of cash waqf, including institutional governance, transparency, investment mechanisms, and community engagement. Using a qualitative-descriptive approach supported by literature review and case analysis, the study reveals that strategic planning, digital innovation, and productive allocation of waqf funds play a pivotal role in maximizing economic impact. The results show that institutions that apply transparent and accountable practices, along with effective nazhir (waqf managers), are more successful in channeling waqf funds to income-generating activities, such as microfinance, education, and small business support. The study also highlights the importance of government support and regulatory frameworks to optimize the role of cash waqf in national economic development. This research contributes to the discourse on Islamic social finance by offering policy recommendations and practical strategies to enhance the effectiveness of cash waqf in improving the socio-economic conditions of communities.
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