Bank Indonesia Identifies Four Steps to Ensure Waqf Becomes an Important Pillar Within the Economy 

Bank Indonesia (BI) has identified that the use of Islamic social finance instruments and Islamic commercial and social finance integration instruments can help in developing productive Waqf that can strategically support the national economy. According to Perry Warjiyo, Governor of BI, there are four important steps to transform productive waqf into a strategic pillar within the Indonesian economy.

Why it Matters?

Muhammad Nuh, Chairman of the Indonesian Waqf Board, stated that Indonesia has currently entered a new era of national Waqf revival, evident by the growth of collective awareness across social structures for Waqf and the use of technology in managing waqf. Furthermore, such Islamic social financial instruments as Zakat, Infaq and Alms (ZIS)...