The Implementation of Waqf to Actualize Economic Justice Based on Islamic Law

Abstract

Economic justice is one of the objectives of the implementation of Islamic economic system. Waqf is one of the instruments of Islamic economics. It is interesting to study the implementation of economic justice through waqf and how its regulation in Indonesia. This article employed normative juridical method. Based on the Article 22 of the Law Number 41 of 2004 on Waqf, the purpose of waqf is not solely for the purpose of ritual. It can also be used to realize economic prosperity. Based on these provisions, waqf can be managed for the economic empowerment of the people. This is related to the efforts of the improvement of the economic welfare of the people, especially for the weak economic class. According to Islamic teachings, distributive justice is economic justice based on the Holy Quran, Chapter al-Hasyr (59): 7. Waqf has the potential to create the economic balance of society. Because the principle of ownership, according to Islam, regulates that individuals or certain community members are not the only party who control the management of assets. The weak economic class also have the right. It is to avoid economic inequality. Thus, waqf is a solution to actualize economic justice in order to realize public welfare, which is one of Indonesia’s national goals as stated in the Preamble of the 1945 Constitution of the Republic of Indonesia.