The Implementation of Waqf Planning and Development Through Islamic Financial Institutions in Indonesia

Sugianto, S (Fakultas Ekonomi dan Bisnis Islam Universitas Islam Negeri Sumatera Utara)
Soemitra, Andri (Fakultas Ekonomi dan Bisnis Islam Universitas Islam Negeri Sumatera Utara)
Yafiz, Muhammad (Fakultas Ekonomi dan Bisnis Islam Universitas Islam Negeri Sumatera Utara)

HUMAN FALAH: Jurnal Ekonomi dan Bisnis Islam
HUMAN FALAH: Jurnal Ekonomi Dan Bisnis Islam │ Vol. 7 │ No. 1 │ 2020

There is assumption in the community that waqf are physically permanent, and handed over directly to Nazir, even though there are also cash waqf through Islamic financial institutions (IFI). This study aims to analyze the implementation of waqf planning by waqif, waqf development by waqf bodies and the structuring of IFI products in Indonesia related to waqf. This study used a qualitative descriptive method using an online questionnaire to waqif and in-depth interviews with waqf institutions and IFI, then analyzed descriptively qualitatively. The results showed firstly, in general waqf respondents had undertaken waqf financial planning, even though it had not been through IFI. Secondly, the development of waqf through IFI is done by Nazhir with two methods, namely initiated IFI and initiated by waqf institutions. Third, IFI structured products related to waqf consists of two models, namely not directly made specifically for waqf products and products structured specifically for waqf.