The Role of Cash Waqf Towards Public Goods in Yogyakarta Province Indonesia

Waqf continues to grow and is no longer limited to land or buildings. There are cash waqf, stock waqf, cash waqf linked sukuk, and waqf takaful. Cash waqf could be utilized to finance and develop public goods. and commercial facilities where the results and commercial benefits are used to finance public services. This study aims to identify the role of cash waqf on public goods in the Special Region of Yogyakarta. One example of providing public goods through cash waqf program is the provision of clean water facilities by constructing borewells or other supporting infrastructure. Convenience sampling with a population of waqf institution in the province of Yogyakarta yielded two institution, namely BWA (Badan Wakaf Al Quran) Yogyakarta City and YBKB (Yayasan Bangun Kecerdasan Bangsa) Yogyakarta City. This research is qualitative research with primary data obtained from interviews. Respondents are nazir from the two waqf institutions and beneficiaries (Mauquf Alaih) of cash waqf program. Results of this study indicate that the BWA and YBKB has helped the community to fulfil basic needs regarding clean water. The cash waqf program implemented by YBKB Yogyakarta is a borewell, while cash waqf program implemented by BWA Yogyakarta is facility that enable beneficiaries get clean water easily. The program implemented by YBKB Yogyakarta also created jobs for local youth. They breed catfish by utilizing borewell. Meanwhile, beneficiaries of cash waqf program by BWA have not yet made plans for such economic productive activity. However, both institutions have been successful in providing clean water for the community