Potential of Waqf Fund Raising and Investment in Bontang City

Economics and Finance

Abstract

This study aims to describe the potential for raising and investing potential for waqf funds in Bontang City, East Kalimantan. This study uses qualitative research techniques. The types of data used in this research are primary data and secondary data. Data collection was carried out using interviews, observation and documentation techniques while data analysis was carried out using triangulation techniques with the stages of analysis namely data condensation, data presentation and drawing conclusions. The results of this study indicate that there are several potential stages and processes in raising waqf funds in Bontang City, namely a. Cash waqf socialization can be carried out to the people of Bontang, through various social media, WhatsApp Groups (WAG), Ramadhan Month events, and distributing brochures and opening service counters. b. Preparation of cash waqf fund management facilities, namely preparation of places for depositing waqf funds from wakif (Shari'ah Financial Institutions - Cash Waqf Recipients) involving branch offices of sharia banks in Bontang City and preparation of money waqf nadzir institutions as managers (managers) ) waqf funds such as recruiting Islamic microfinance institutions (BMT), educational and social foundations in Bontang City to be registered and obtain operating permits from the central BWI. c. Data collection and screening of cash waqf waqif candidates from congregations of mosques and mushalla, employees and directors of companies, employees and officials of government offices, customers and employees of Islamic financial institutions and the general public who can be netted through service counters. d. Collection of Waqf Funds from wakifs can be done through waqf savings books, salary deductions, collecting additional fees and picking up waqf funds to the wakif's homes. It also shows that there are several potentials for safe and mutually beneficial waqf fund business investment management, namely a. Investment of waqf funds in branch offices of Islamic banks in the city of Bontang. b. Investments in the real sector with greater profits, such as the fisheries and maritime sectors, transportation, tourism, property and hotels, agriculture and plantations as well as investment in equity in business productivity areas of places of worship and education. c. Investment in capital participation in the children of the three large companies in Bontang City, namely PT. Pupuk Kaltim, PT. Badak LNG and PT. Indominco Mandiri.

Keywords: Fundraising, Investment, Cash Waqf