ABSTRACT

Cash waqf as a form of Islamic Social Finance in Indonesia has enormous potential, but it has not been managed optimally. Henceforth the role of cash waqf cannot be utilized in economic development properly. The causes are: the occurrence of asymmetric information, each nazhir runs on their own, the system of funding, financing, and mauquf that has not been integrated. Cash waqf is waqf in the form of money managed productively by nazhir, and the results are used for mauquf 'alaih. Therefore, the purpose of this article is to develop a new framework of Integrated Financial Technology model of Islamic Social Finance for Economic Development. The method of this research is by reviewing articles about cash waqf in economic development, finding gaps, and limitations. The results show that the New Integrated Financial Technology Model is a new model that is able to integrate funding, financing, and mauquf systems in a more comprehensive manner. With the new model, management of cash waqf is more transparent, accountable, can be accounted for internally and externally, and can reach muaqif and mauquf 'alaih more broadly both in its area and number, so that the role of cash waqf can be maximized for economic development.

Keywords: Cash waqf, New Integrated Financial Technology, Nazhir, Mauquf ‘alaih.