Evaluation of the Ottoman cash waqf management and its relationship with the Indonesian cash waqf management

Indonesia as the largest Muslim country has a very significant potential for waqf development. One aspect that can be massively developed is cash waqf which has a very large scope of benefits if it can be maximized. However, this potential has not been optimally maximized for various reasons. To maximize this potential, cash waqf must be managed properly, effectively, and transparently. The purpose of this study is to analyze and evaluate the management of cash waqf in the Ottoman period and Indonesia. The type of this study is qualitative research which try to explain the phenomenon based on the findings of the literature. To facilitate to analyze and evaluate the management of cash waqf in the Ottoman period and Indonesian, this study classifies cash waqf management into four categories, namely fundraising management, development management, utilization management, and reporting management. This study reveals that during the Ottoman era, cash waqf developed massively and provided enormous benefits for both improving the economy and the welfare of society. In Indonesia, the management of cash waqf is still classified as a new thing and is regulated in the 2004 Law Number 41 about waqf and is still very possible to be developed. In this study it found that the management of cash waqf in Indonesia also had a benefits on economic development and community welfare, but it was not maximized because the management of waqf assets was not flexible and varied compared to the management in the Ottoman period.