Analysis of the Suitability of Cash Waqf Practices in Indonesia with Maqashid Sharia Principles

Cash waqf is one of the growing instruments of Islamic philanthropy in Indonesia as an alternative to religious social funding. The practice of cash waqf has strategic potential in empowering the ummah's economy if managed sharia-compliant and professionally. However, in order to ensure its blessing and conformity with the objectives of Islamic law (maqashid sharia), it is necessary to conduct a comprehensive analysis of its implementation. This study aims to evaluate the extent to which cash waqf practices in Indonesia have been in accordance with the five main principles of maqashid sharia, namely the preservation of religion (hifzh al-din), soul (hifzh al-nafs), intellect (hifzh al-'aql), offspring (hifzh al-nasl), and wealth (hifzh al-mal). The method used is a qualitative approach with literature study and content analysis of regulations, waqf institution policies, and performance reports from several leading waqf institutions in Indonesia. The results show that cash waqf practices in Indonesia have generally supported the principles of hifzh al-mal and hifzh al-nafs through economic empowerment programs and social assistance. However, compliance with the principles of hifzh al-din and hifzh al-'aql is still limited and needs to be strengthened, particularly through the development of waqf-based education programs. This study recommends increasing the integration between cash waqf management and the overarching objectives of maqashid sharia to realize social justice and the welfare of the people in a sustainable manner.