Jurnal Pembaharuan Hukum 9WAQF AL-NUQŪD IN INDONESIA Volume V No. 1 April – Agustus 2018 (In Law Perspective) O. Argo Victoria 23 9WAQF AL-NUQŪD IN INDONESIA (In Law Perspective) O. Argo Victoria International Islamic University Malaysia argovictoriaupin@gmail.com Abstract This article aims to make an overview on the rule and significance of waqf al-nuqūd (cash waqf) in Indonesia as a new social tool to alleviate poverty. The author highlights that Cash waqf is introduced as a new concept of waqf to solve many social problems in Muslim society of Indonesia. The qualitative methodology is employed to analyze the issues and development of cash waqf in Indonesia. Findings indicate that the cash waqf has been legalized by both Islamic scholar and national law of Indonesia so that Muslims have a chance to maximize the utilization of their waqf through a well-organized endowment and waqf organization. Keywords: Waqf Al-Nuqūd; Law; Indonesia. A. INTRODUCTION Amid the social problems of Indonesian society and the demand for economic prosperity in recent years, the existence of money or cash waqf has become very strategic. Besides as one aspect of Islamic teachings that have spiritual dimension, cash waqf is also a teaching that emphasizes the importance of economic welfare (social dimension) and welfare of the people. 1 The term of cash waqf is not so familiar in the Indonesian society. It can be seen from the understanding of Indonesian people who perceive waqf only limited to the provision of immovable property, such as land and buildings destined for places 1 Directorate of Waqf of Islamic Community, 2008, New Waqf Paradigm in Indonesia, Jakarta, p.1.