Indonesia is known as the country with the largest Muslim population in the world. Based on a survey conducted by the Royal Islamic Strategic Center (RISSC) on 2021 shows that 86.9% of the total population in Indonesia adheres to a religion Islam. This dominance can be a supporting factor in developing the potential of Islamic social finance based on philanthropy (Zakat, Infaq, Shodaqoh, Waqf) as a positive effort to overcome economic problems and poverty seems to never find a bright spot. With the large Muslim population in Indonesia, it is no surprise that Indonesia has huge potential to be a solution in national economic recovery. Remembering the concepts contained in the four philanthropic instruments basically indeed to reduce inequality and make income distribution not only around just a few parties, the concept of waqf objects which must retain their value is felt to be possible social financial instruments that need to be optimized immediately to restore the economy and provide sustainable benefits. Currently there are more waqf schemes flexible to be applied in society, namely through cash waqaf. Based on data according to the Indonesian Waqf Board (BWI), the potential for cash waqf in Indonesia reaches IDR 180 trillion per year. So what is the difference between cash waqf and waqf through money? This article will focus more on the differences between the two types of waqf. Many people still misinterpret them, the difference between the two lies in the waqf object for which they are allocated. Cash waqf has a waqf object, namely money that is managed productively, while waqf through money has another waqf object, but in its development the wakif needs to hand over money, for example: the waqf institution will build water sources in 100 villages, so the wakif hands over the money. This is what is called waqf through money because what is actually donated is the water source, not the money.
