<![CDATA[This study aims to disclose the model of waqf asset management carried out by the waqf foundation of Sabilillah Malang. This disclosure is essential, given the high number of waqf assets in Indonesia that are not managed. The significance of this study lies in the strategies and approaches utilized, including the strategy of bringing local wisdom as a management base on the social and economic development of the local community. Specifically, this study is included in the research area of social institutions that are descriptive, along with a qualitative analysis approach. The data collection technique used two methods, including interviews and documentation. The sample of informants was chosen randomly (purposive sampling). In this case, the position of the researcher was a participatory observer, where the data instruments were in the researcher’s assumptions. After the research was conducted, some crucial findings, include 1) in performing the process of asset management, the first step to do is identifying the assets in the form of a human, natural, and social assets. 2) developing assets by maximizing local potentials. A number of identified local potentials are developed through the provision of facilities like cooperatives, minimarkets, food courts where all elements of the development are under the direct coordination of the economic and empowerment centers. 3) developing waqf assets by maximizing the sources of local potentials by engaging small business enterprises as business partners, setting up businesses by providing capital, and establishing businesses by credit. All this cooperation is packed up using mudharabah, murabahah and musyarakah contracts.]]>
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