Waqf development in Indonesia
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The origin of waqf in Indonesia dates back to the seventh century, when Islam was first introduced in the country. Although waqf had been practiced by the kings of Islamic kingdoms in the past, the majority of waqf assets were in the form of mosques, lands and rice paddy fields. In its subsequent development, many pious persons donated their assets as waqf to facilitate education, religious activities and general philanthropic objectives. While in the past waqf was mainly dominated by land and building, nowadays there are various types of waqf assets such as cash waqf, waqf on life insurance claims, share waqf and many others. Moreover, the rapid growth of the number of mutawallis in Indonesia has in turn created “competition” among mutawallis to win the public trust. Accordingly, this chapter aims at discussing the development of waqf in Indonesia. The chapter will, therefore, highlight the historical evolution of waqf, followed by its recent development. Some cases are provided to show how waqf assets are managed today. Although the development of waqf in Indonesia seems to be promising, some challenges need to be anticipated in the future. Therefore, this chapter will conclude with an agenda to improve waqf administration in the country.