UNS – Universitas Sebelas Maret (UNS) Surakarta hosted the 14th Waqf Goes to Campus National Seminar on Wednesday (6/11/2024), as part of the “Indonesia Waqf Movement.” Organized by the Indonesian Waqf Board (BWI), the event invited the academic community and the public to participate in a movement under the theme “Menggerakan Wakaf Uang untuk Kemajuan Pendidikan dan Kesejahteraan Umat” (Mobilizing Cash Waqf for Advancing Education and Community Welfare).

The seminar, a central event of Waqf Goes to Campus, featured two main speakers: Dr. Imam Teguh Saptono, a national waqf expert, and Agus Prasetya Laksono, S.E., M.Si., Head of Project and Asset Management at the Directorate of State Sharia Securities (SBSN), Ministry of Finance. They discussed productive waqf within the context of national development. The seminar was moderated by Arif Rahman Hakim, S.E., Mec.Dev., Ph.D., a lecturer from the Faculty of Economics and Business at UNS.

In his opening remarks, BWI Chair Prof. Dr. Phil. H. Kamaruddin Amin emphasized that the Waqf Goes to Campus initiative aims to improve the academic understanding of waqf. He highlighted waqf as a potential tool to promote the welfare of the community. “We envision an educational endowment fund based on waqf, accessible to lecturers, staff, and students — anyone with the capacity to contribute,” Prof. Kamaruddin said.

He sees campuses as vital partners for BWI in promoting waqf literacy, noting that universities like UNS have the potential to act as literacy partners, promotional partners, and collaborators in this area.

UNS Rector Prof. Dr. Hartono, dr., M.Si., also discussed waqf’s potential within higher education, explaining that the national seminar serves as a platform for exploring productive waqf’s role in supporting national development. “Some universities in Indonesia are already involved in cash waqf initiatives through endowment funds invested in sukuk, generating returns that support scholarships and other educational programs. UNS is committed to expanding the use of cash waqf to advance education in higher institutions,” he stated.

Prof. Hartono noted that waqf contributions from the academic community could come from lecturers, staff, students, alumni, and the general public. UNS has also established a Subdirectorate of Endowment Funds, which is currently finalizing regulations for endowment management aimed at supporting education, research, and community service initiatives.

In the core seminar session, Dr. Imam Saptono presented “The Role of Waqf in National Development.” He discussed various innovations aimed at building a national waqf ecosystem, including waqf-based housing. Presidential Regulation Number 13 of 2021 allows waqf land to be used for long-term housing through a 60-year Building Ownership Certificate (SKBG) for apartment units on waqf land, with options for extension. The government has also introduced sukuk specifically for cash waqf investments, which can fund projects like housing. Additionally, Financial Services Authority Regulation Number 18 of 2023 facilitates sustainable shariah bonds and sukuk linked to waqf, a category of sustainable sukuk. There are also various Sharia Bank products related to waqf, as well as opportunities for banks to serve as nadzir (waqf fund managers) under Law Number 4 of 2023 on the Financial Sector Development and Strengthening (P2SK) Act.

The second presentation, delivered by Agus Laksono, was titled “The Role of SBSN in Infrastructure Project Financing, National Investment, and Productive Waqf in Indonesia.” The Cash Waqf Linked Sukuk (CWLS) has become an instrument for financing government-led projects or social investment programs and productive waqf. This platform enables the public to engage in cash waqf and social investments more easily and securely. The presence of CWLS supports the development of the Sharia financial market, particularly the cash waqf industry. This initiative is part of ongoing innovation in the fields of finance, social investment, and productive waqf in Indonesia.

CWLS also encourages diversification within the Shariah finance business sector through the optimized role of Islamic Financial Institutions Serving Cash Waqf (LKS PWU). This program supports the growth of the national waqf ecosystem, with a focus on strengthening governance and institutional frameworks for waqf in Indonesia. CWLS is also part of innovative-creative financing efforts, advancing quasi-sovereign instruments and expanding the base of domestic investors.

Humas UNS