PKB Legislator Criticizes the Ministry of Religion for Managing the Wakaf Fund of the Istiqlal Mosque at the Indonesia Stock Exchange
Member of Commission VIII of the DPR from the National Awakening Party (PKB) Faction KH. Maman Imanulhaq reminded the Grand Imam of the Istiqlal Mosque and Minister of Religion Nasaruddin Umar to be careful in managing mosque waqf funds through capital market instruments or the Indonesian Stock Exchange (IDX).
According to him, the management of waqf funds has a different dimension from the management of commercial funds in general. In addition to being productive and providing the greatest benefit for the community, the management of waqf must also pay attention to the principles of prudence, certainty of sharia, and the trust of the community who entrust their wealth as waqf.
"Waqf funds are the trust of the people. Don't let us, because we want to pursue high returns, we choose instruments that raise doubts from a sharia perspective. If there is a tendency to speculate excessively, I think it should be avoided," said Maman, Wednesday, August 12.
The member of the Syuro Council of the PKB DPP emphasized that the criticism did not mean that he rejected innovation in waqf management. Instead, he encouraged waqf funds to be managed professionally, productively, transparently, and provide long-term benefits for the community.
"The principle is not anti-investment. Waqf must be productive. But productive does not mean taking the greatest risk. There are still many options for instruments and management models that are safer, more transparent, and further from questionable matters," he said.
Maman also asked the Ministry of Religion not to rush in determining the scheme for managing waqf funds, especially if it concerns funds that come from the community and have strong religious consequences.
He assessed that before a policy was implemented, the government needed to involve scholars, experts in muamalah fiqh, sharia economists, waqf practitioners, the Financial Services Authority (OJK), and other related institutions. Thus, according to him, the decisions taken do not merely consider the aspect of financial profit, but also compliance with sharia and protection of the funds of the people.
"If there is indeed an investment scheme that meets the principles of sharia, the risk is measurable, transparent, and provides real benefits for the community, it can certainly be studied. But don't impose one model just because it looks promising financially. Waqf funds are not speculative money," he said.
He reminded that public trust is the main capital in the management of waqf. Once the community feels that waqf funds are managed in a way that does not comply with the principle of prudence or sharia beliefs, the trust can be eroded.
"Don't let us pursue financial gains but lose something that is much more important, namely the trust of the people. Waqf must be a source of benefit, not a source of controversy," said Maman.
Therefore, the Ponpes al-Mizan Majalengka caregiver encouraged the government to develop more concrete alternative management of waqaf, such as the development of productive waqf assets, financing of micro and small businesses based on waqaf, the construction of education and health facilities, and Islamic investment instruments that have clear monitoring and risk management mechanisms.
"There are many ways to make productive waqf without having to enter into areas that raise doubts. The state must be present to ensure that waqf funds grow, but at the same time keep the trust within the sharia corridor and the interests of the people," he concluded.