Minister Nasaruddin Brings Community Waqf Funds to the Capital Market, Highlighting Transparency and Security
Istiqlal Mosque has partnered with the Indonesia Stock Exchange (IDX) to manage cash waqf funds through the capital market. This productive waqf scheme is expected to keep generating benefits for the community.
The Grand Imam of Istiqlal Mosque who is also the Minister of Religious Affairs, Nasaruddin Umar, said that waqf funds are not just collected but also managed through capital market instruments. The returns will be given back to the people through empowerment programs.
This move raises questions about investment risks, security guarantees, and public oversight. The Istiqlal Mosque side emphasized that the scheme in place is a productive waqf, not a deposit, so that people’s funds keep providing sustainable benefits.
Transparency, accountability, oversight mechanisms, and protection of public funds are important aspects that need to be monitored in the implementation of this breakthrough.
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