ASEAN INSIDERS by origin and passion

Waqf as Method of Mobilizing Funds in Indonesia

Dr. Akhmad Affandi Mahfudz Director Zahir Syariah Indonesia

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Waqf: The Neglected Instrument in Mobilizing the Funds

WAQF

The establishment of Waqf Bank

Poor literacy: Waqf means only for land

Not effective funds for the

destitute

Waqf aimed for social and

no benefit

Small contribution

from corporate

Small project financing

from waqf funds

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Current State of Waqf in Indonesia

435,768 Certificates USD320,547

102 Nazhir of Qash Waqf

15 Nazhir of IFI

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The Untapped Potential of Waqf in Indonesia

USD 220,600

USD 6 Billion

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The Impact of Waqf in Mobilizing the Funds

• Investment - investing for both a financial return and a

social return

• Social banking – investing deposits in social enterprises

• Charitable banking - banking with a specific focus on the

needs of charities

• Championing Financial Inclusion - Providing banking

services and advice to financially excluded individuals

• Crowdfunding platforms for funding social ventures

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Mobilizing Waqf Funds for Project Financing

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