CASH WAQF,WHAT TO KNOW?
Cash waqf is a type of waqf categorized as movable waqf . Like other waqf , cash waqf aims to promote service to mankind by establishing waqf using money. Historically, cash waqf was widely used by the Ottoman Empire since the end of 16 th century. At that time, cash waqf was used to finance entrepreneurs for their business, and then the return was used for public service such as hospitalization, education, water channelling, bridges, roads, etc. Cash waqf played an important role in the economy of the empire. Unfortunately, the utilization of cash waqf faded away since the end of 19 th century because of mismanagement, colonization, and secularism. The good news is, recently, there have been some efforts on reviving the waqf institution and the creation of moveable waqf (cash waqf ) as an alternative way to solve the problem in economical dynamics. Cash waqf is expected to alleviate poverty and reduce inequality in society as a duty the rich owe the poo