Abstract

Many studies related waqf and poverty alleviation concluded that Poverty alleviation program in Indonesia requires huge amount of fund that cannot be provided thoroughly by the government. So, the initiation of new sources of fund for such a program is inevitable. In the Islamic social-economic concept, there is a source of social fund that is economically and politically free of charge, namely cash waqf (wakaf tunai). However, the current researches did not follow up to deal with the issues and ignoring the role of microfinance and Cooperative based on community, Besides that, these issues have not been related from the government financial inclusion (FI) movement. Therefore, this research attempts to develop the appropriate cash waqf model in Indonesia by involving community, Cooperatives and Microfinance. The study is descriptive deductive analysis and modelling by using IDC method (intelligent, design and choice). Besides that, interviews were used to grab and map out the waqf stake holders minds. The study revealed that, cash waqf model by involving Baitul-mal Wattanwil (BMT), Cooperative, and Communities would be significant role in the poverty alleviation. The cooperation between Nadhir, Waqif, Cash Waqaf institutions, Micro Small and Medium Enterprises (MSMEs), and Islamic Micro finance and Cooperatives is urgent. In addition, the result will enhance to the government financial inclusion movement. The government should involve in this action i.e. to support and prepare regulations and Acts needed.

Keywords: Financial Inclusion, Waqf, Cooperative, Micro Finance, Poverty Alleviation