CASH WAQF AS AN ALTERNATIVE FOR PEOPLE’S ECONOMIC EMPOWERMENT (A POTENTIAL STUDY IN TANAH DATAR REGENCY WEST SUMATRA PROVINCE)

Abstract

Waqf as one of the economic resources in Islam has "extraordinary" potential compared with zakat, infak, and shadaqah. However, the narrow understanding and view of the society on the term of waqf  makes it as  if it is  not "valuable" in the economic context. The existence of cash waqf in the waqf system in Indonesia provides a great opportunity for Muslims to make it as one of the alternatives for economic empowerment of the ummah. People of Regency of Tanah Datar as Luhak Nan Tuo in Minangkabau known as a religious and well-heeled community has waqf land assets that are relatively large and wide enough, but it can not be managed and optimized optimally and maximally. This study tries to describe the potential of cash waqf in Regency of Tanah Datar which is juxtaposed with the potential utilization of the available land waqf. . At the same time, it will also provide a real and targeted program offer for the economic empowerment of the people. The results of the study showed that the potential of cash waqf in Regency of Tanah Datar is Rp. 4 billions / year (Rp 20 billions in 5 years). This figure shows that the cash waqf has "extraordinary" potential  as an economic power of the people in Tanah Datar Regency.  The offer of economic empowerment program of the people to the existing land waqf assets can be done in the form of agriculture, plantation and livestock development for the poor/underprivileged, as well as the establishment of the Shariah Bussines Center /Waqf Center and Islamic microfinance institutions. The joint program with the local government, Baznas, Nagari (Vilage ) Empowerment Fund, and other endowment agencies in a collaborative and synergic ways will strengthen and accelerate the achievement of the welfare and economic independence of the ummah.