The Potential of "University Waqf" as an Inclusive Strategy to Develop Entrepreneurship in Islamic College

Abstract

Cash waqf is a potential instrument both in the social and in financial side whereby it has a positive trend to the development of economic and Islamic financing. Waqf mechanism which holds waqf property, has been success creating the group of funds and properties which is submitted and managed by designated authority (trustee) foralms based on sharia principles. Besides the functions and forms which have been proofed to assist Muslim development, waqf institutions have been developed and contributed to the increasing of the Muslim community in Indonesia. Based on the literature review, several explanations which need further clarification is how waqf can be education fund sources in Islamic colleges in Indonesia. This paper aims to explain the strategic role and the contribution of university cash waqf to generate Muslim entrepreneurs through scholarship, research,community empowerment, social programs around campus,competency development, increasing literacy of waqf and zakat, and productive waqf (business center, business incubation).