The institution of waqf has played its role in poverty alleviation and socioeconomic development through history, especially in the Islamic history. Until today, this institution still plays an important role especially in Muslim countries. Still, there are many potential mechanisms in order to make it more effective to alleviate poverty and for financing the education of the poor. On the other hand, Islamic waqf bank is a special designed financial institution in Islam. This bank will benefit the student and also their parents, due to its unique structure that could finance students' education in term of fees and cost of living. Islamic waqf bank use the concept of cash waqf in funding the education. Cash waqf is a trust fund established with money to support services for mankind's benefits in the name of Allah. The gifted capital was "transferred" to borrowers for certain period, which was then spent for all sorts of pious and social purposes inclusive for the investment objectives. The objective of this article is to examine the need of students and inclination among Muslim public to contribute for the establishment of Islamicwaqf bank. The general findings of this article shows that there is a high demandamong students and strong willingness among public to contribute for the establishment of Islamic waqf bank. � IDOSI Publications, 2013.

Islamic waqf bank is a special designed financial institution in Islam. This bank will benefit the students and also their parents, due to its unique structure that could finance student’s education in term of fees and cost of living. Islamic waqf bank use the concept of cash waqf in terms of funding the education. The gifted capital or cash waqf was “transferred” to borrowers for certain period, which was then spent for all sorts of pious and social purposes inclusive for the investment objectives. It is recognized that there is no ample study in the area of cash waqf especially for managing Islamic waqf bank institution. Therefore, the study for managing cash waqf fund through Islamic waqf bank is essential in order for the fund to be use efficiently. The objective of this article is to explore the relief of higher education loan through Islamic waqf bank.