Abstract:

This paper aims to discuss an instrument model to mobilize the potential cash waqf in Indonesia as a source of financing the development of land waqf. The model is built on the understanding of the concept of waqf, cash waqf, sukuk and conditions and cash waqf regulation in Indonesia. This study used primary data collected through observation and interviews with mosque and mosque management, while secondary data were collected from journals, articels, books, e-books and web sites. Sukuk Waqf is perfect instrument  to mobilize cash waqf fund from Muslim communities in Indonesia through a regular and sustainable way. Sukuk waqf with retail concept is suitable with the condition of Indonesia and can reach all layers of Muslims to berwaqf. Waqf's sukuk requires the legitimation of the Government and the Ulema Council.