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ASEAN INSIDERS by origin and passion
Waqf as Method of Mobilizing Funds in Indonesia
Dr. Akhmad Affandi Mahfudz Director Zahir Syariah Indonesia
www.zicolaw.com | 2
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
www.zicolaw.com | 5
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
www.zicolaw.com | 6
Mobilizing Waqf Funds for Project Financing
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