Cash waqf from the millennials’ perspective : a case of Indonesia
Nur al-Din, Khalid
Ratih, Inayah Swasti
Pertiwi, Risa Sari
ISRA International Journal of Islamic Finance
Vol. 14, Issue 1 (30 Apr. 2022), pp.20-37, 18 p.
International Shari'ah Research Academy for Islamic Finance
Country of Publication
No. of Pages
Purpose – the purpose of this study is to explore the awareness and willingness level of millennials in Indonesia towards cash waqf (cash endowment).
cash waqf has gained huge attention in Indonesia because of its flexibility, especially after the majlis ulama Indonesia (mui) officially announcing in 2002 that cash waqf practices in the country are shar_ıʿah-compliant.
millennials comprise 33.75% of the total Indonesian population.
therefore, it is vital to analyze cash waqf froman Indonesian perspective.
this study provides vital information for all institutions that are concerned with the enhancement of cash waqf contributions in Indonesia.
design/methodology/approach – self-structured questionnaires were distributed in java island to collect the data.
the data were examined by employing suitable statistical tools.
besides, post-interview fact-finding was conducted with cash waqf experts from different related institutions in Indonesia to reach a more in-depth understanding about cash waqf issues.
findings – the results depict a high level of awareness about cash waqf among millennials in Indonesia.
the results further reveal a lower willingness level to contribute to cash waqf of the sample population as compared to their level of awareness about cash waqf.
moreover, cash waqf promotions must focus on delivering a deeper understanding about the concept and how it differs from other types of Islamic philanthropy.
the results suggest that waqf trustees in the country must be more transparent.
moreover, the Indonesian waqf board should implement stricter rules to monitor waqf trustees.
research limitations/implications – this research restricts the sample population to Indonesian Muslims who were born between 1980 and 2000.
practical implications – as a Muslim-majority country, one would expect Indonesia to make much progress in cash waqf.
by providing an explanatory understanding of willingness and awareness of cash waqf among Indonesians, this research can be helpful in designing proper educativemarketing campaigns for future endowers to cash waqf activities to ensure cash waqf institutions provide efficient services.
it is advisable to emphasize the transparency of waqf organizations.
this will add to the n_az_ irs’ (waqf trustee) reputation, thereby boosting waqf’s national shares by ensuring a proper allocation of cash waqf.
the regulator should be more strict in monitoring n_az_ ir practices.
for instance, it could include a periodic assessment of waqf entities.
originality/value – this study is original in nature; there is no previous study that addresses the millennial’s perspective toward cash waqf in Indonesia.
hence, this study presents precious information for policy makers, practitioners and researchers.
American Psychological Association (APA)
Nur al-Din, Khalid& Ratih, Inayah Swasti& Pertiwi, Risa Sari. 2022. Cash waqf from the millennials’ perspective : a case of Indonesia. ISRA International Journal of Islamic Finance،Vol. 14, no. 1, pp.20-37.
Modern Language Association (MLA)
Nur al-Din, Khalid…[et al.]. Cash waqf from the millennials’ perspective : a case of Indonesia. ISRA International Journal of Islamic Finance Vol. 14, no. 1 (2022), pp.20-37.
American Medical Association (AMA)
Nur al-Din, Khalid& Ratih, Inayah Swasti& Pertiwi, Risa Sari. Cash waqf from the millennials’ perspective : a case of Indonesia. ISRA International Journal of Islamic Finance. 2022. Vol. 14, no. 1, pp.20-37.
Includes bibliographical references : p. 33-37.
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