SHARIA ECONOMIC COMMUNITY OF SOUTH SUMATRA TOGETHER WITH BANK SUMSEL BABEL SYARIAH PROMOTES

The Sharia Economic Community (MES) of South Sumatra held a National Webinar on the topic of Money Waqf Management Model for Improving People's Welfare, on Tuesday, February 9, 2021. The activity was opened by Achmad Syamsudin as Chairman of the Sharia Economic Community of South Sumatra as well as President Director of Bank Sumsel Babel by presenting three resource persons who are competent in their fields, namely Ahmad Juwaini (Director of Sharia Social Finance of the National Committee of Islamic Economy and Finance of Indonesia), Imam Teguh Saptono (Vice Chairman I of the Central Indonesian Wakaf Agency), and Oktiandi (Director of Operations and Sharia of Bank Sumsel Babel) with Moderator Muhammad Ichsan Hadjri (Secretary I MES Sumsel).

This webinar activity was attended by more than 500 registered participants, spread from Aceh to Papua, even some participants domiciled in Malaysia, Egypt, and the Netherlands. In his speech, Achmad Syamsudin explained that waqf money has a very large and flexible value of benefits. This is because the amount can vary, so that a person who has limited funds can also provide waqf funds. Waqf money can also be used to empower waqf assets in the form of immobile objects that have not been managed productively. In waqf management is known productive and strategic waqf management system which is the development and improvement of waqf empowerment. In addition to containing the dimension of worship, Waqf also has an economic and business dimension that if managed modernly by professional institutions and trusts will produce significant benefits for improving the welfare of the people.

Ahmad Juwaini as the first resource person emphasized that the need to encourage waqf development ecosystem in Indonesia. To achieve the development of waqf management, it is necessary to improve literacy and education, improve governance, optimize waqf management, and digitize waqf. He added that regulatory improvements are also needed to better support the development of waqf, supported by the system of securing and guaranteeing waqf assets, as well as synergy with other Islamic economic and financial industries.

A more detailed explanation of the evidences on waqf, definition and type of waqf is further described by Imam Teguh Saptono as the second source. According to him, waqf money belongs to the type of waqf moving objects. At the beginning of its development, waqf money was distributed in the form of marginless loans to mauqul alaih. The scheme continues to grow to this day, in order to keep the principal value of the endowment afloat, it is necessary to invest in safer investments with competitive margins. The return on investment will be channeled to mauqul alaih. In its application, waqf can be distributed both in the education, social, health, and infrastructure sectors.

Oktiandi as the third source stated that the waqf money is a waqf in the form of money that can be managed productively and the results are utilized for mauquf alaih. The parties involved in the implementation of the waqf money are wakif, nazir, Islamic Financial Institutions Recipients of Waqf Money (LKS-PWU), and Officials of Wakaf Pledge Deed (PPAIW). Bank Sumsel Babel Syariah since 2016 has been appointed as a Sharia Financial Institution recipient of Waqf Money (LKS-PWU) with the Bank Sumsel Babel Syariah Cash Endowment program.

The cash waqf scheme at Bank Sumsel Babel Syariah is a customer as a wakif placing waqf funds in the Indonesian Wakaf Agency representative of South Sumatra in the account of Bank Sumsel Babel Syariah. Then the waqf of money invested by BWI Perwakilan Sumsel is in deposit products at Bank Sumsel Babel Syariah with the expectation of the most profitable profit share. The share of the money waqf management will be given to the beneficiaries, namely mauquf alaih through the Cash Waqf Program of Bank Sumsel Babel. The public can channel their waqf money through Bank Sumsel Babel Syariah account number 801-37-77777 an Indonesian Wakaf Agency Representative.

Cash Endowment,