Alhamdulillah, The Government Inaugurated The National Money Waqf Movement

President of the Republic of Indonesia Joko Widodo (Photo: Ministry of Finance)

JAKARTA - The government officially launched the National Movement for Cash Waqf as well as the Islamic Economic Brand at the State Palace, Jakarta on Monday, January 25. The program, which was approved directly by President Joko Widodo, is aimed at finding ways and breakthroughs to reduce social inequality for equitable development in all corners of Indonesia, one of which is through the use of waqf.

"One of the breakthrough steps that we need to think about is the development of Islamic financial institutions that are managed based on the waqf system," he said in an official statement.

The President revealed that the potential for waqf in Indonesia is very large, both immovable and movable object waqf including waqf in the form of money.

"Therefore, we need to further expand the scope of the use of waqf, no longer limited to the purpose of worship but developed for socio-economic purposes which have a significant impact on reducing poverty and social inequality in society," he said.

To that end, the President welcomed the launch of the National Money Waqf Movement (GNWU) as part of an effort to strengthen a sense of social care and solidarity and to overcome poverty and social inequality in Indonesia.

"The launch of the National Money Waqf Movement today is an important part of not only increasing awareness, literacy, and public education on the economy and Islamic finance but as an effort to strengthen a sense of concern and social solidarity to overcome poverty and social inequality in our country," he said.

The Head of State also emphasized that as a country with the largest Muslim population in the world, it is time for Indonesia to provide examples of waqf management practices that are transparent, professional, credible, reliable, and have a productive impact on the welfare and economic empowerment of Muslims.