Structuring Model for Corporate Productive Cash-Waqf in Indonesia (A Case Study for PT. Semen Indonesia)
The development of Waqf in Indonesia has attracted plenty discussion about the third sector economy model (voluntarily sector) and it’s potential to overcome social economic problems. Semen Indonesia is a giant multi-national state-owned company with various programs of community service that could potentially adopt the concept of cash Waqf as an innovative support for financing socio economic programs for the benefit of the surrounding society. The study has utilized qualitative data by analyzing important and relevant secondary data, direct observation of Semen Indonesia Group, and conducting interviews with key informants. The productive cash Waqf model has been recently developed for corporate Waqf equipped with information technology systems like E-Waqf applications to encourage Semen Indonesia’s big community to donate to the cash Waqf program. The fund accumulation is managed in profitable investment around Semen Indonesia and society environment. The financial and managerial system of Semen Indonesia Company and holding is possibly adopting the productive cash Waqf concept when managed properly and transparently.
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