Cash Waqf as an Instrument for the Economic Sustainability and Development of Islamic Educational Institutions: An Evaluative Study of Al-Ikhlash Modern Islamic Education Institute
DOI:
https://doi.org/10.35897/iqtishodia.v11i2.2723Keywords:
Cash Waqf, Islamic Education, Institutional Sustainability, Waqf Management, Institutional DevelopmentAbstract
Cash waqf has increasingly been recognized as a potential instrument for supporting the sustainability of Islamic educational institutions. However, its effectiveness depends not only on the permissibility of cash waqf but also on how it is managed, transformed into institutional assets, and utilized for long-term development. This study aims to evaluate the implementation of cash waqf at Al-Ikhlash Modern Islamic Education Institute from Islamic jurisprudential and Indonesian legal perspectives and to examine its contribution to institutional sustainability and development. Employing a qualitative case study approach, the study draws on interviews, institutional documents, and relevant legal and scholarly sources. The data were analyzed through an evaluative framework covering jurisprudential legitimacy, legal compliance, waqf management, asset development, and institutional outcomes. The findings indicate that the implementation of cash waqf at Al-Ikhlash is broadly consistent with contemporary Islamic jurisprudence and Indonesian waqf regulations, particularly through the preservation of waqf capital and its conversion into durable assets. Cash waqf has supported the acquisition and expansion of land, development of educational facilities, and improvement of institutional capacity. These developments have coincided with growth in student enrollment, teaching personnel, and community participation. The study highlights that cash waqf can function not merely as a fundraising mechanism but as a developmental instrument that strengthens the long-term sustainability and institutional autonomy of Islamic educational institutions, while also identifying the need for stronger digital documentation and governance mechanisms.
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