Productive Waqf encouraged as driver of community economy

Indonesian organizations are promoting the concept of "productive waqf" as a means to stimulate economic growth and empower the Muslim community. Discussions held during a Maulid Nabi Muhammad SAW commemoration in Jakarta highlighted that waqf, traditionally associated with social and religious activities, can be effectively leveraged for productive economic ventures.

Ana Mustamin, Secretary General of the Indonesian Bumiputera Nusantara Indonesia Entrepreneurs Association (ASPRINDO), explained that waqf funds can be developed through various sharia-compliant investment instruments. These funds can then serve as capital for productive businesses and support organizational social activities, offering a solution for strengthening the community's economy. She noted that the perception of waqf requiring large contributions limits participation, whereas "money waqf" allows for more accessible contributions.

The event, organized by ASPRINDO in collaboration with Taman Iskandar Muda (TIM) and Keluarga Ureung Pidie (KUPI), stressed the importance of inter-organizational cooperation. Jose Rizal, Chairman of ASPRINDO, stated that building and practicing collaboration is crucial for strength and empowerment. He believes that synergy between TIM, KUPI, and ASPRINDO can extend the benefits of waqf beyond their members to the broader community.

During the event, Prof. Muzakkir, Vice Chairman of the ASPRINDO Supervisory Board, urged attendees to use the Maulid commemoration as a moment for self-evaluation, reflecting on how well they embody the exemplary values of Prophet Muhammad SAW in their daily lives as individuals, entrepreneurs, and community members. The discussion also touched upon the necessity of good governance, appropriate investment choices, and effective management for the successful development of productive waqf.