ITS Chancellor Prof. Mochamad Ashari MEng IPU AEng when receiving the 2022 BWI Awards submitted by Deputy Minister of Religion Dr. H Zainut Tauhid Sa’adi MSi and Chief Executive of BWI Prof Dr. Muhammad Nuh DEA

Campus ITS, ITS News – Institut Teknologi Sepuluh Nopember (ITS) received the 2022 BWI Awards from the Indonesian Waqf Agency (BWI) because it is considered to have a significant contribution to the development of the waqf field in Indonesia. The award was handed over by Deputy Minister of Religion of the Republic of Indonesia Dr. H Zainut Tauhid Sa’adi MSI to ITS Chancellor Prof Dr. Ir Mochamad Ashari MEng IPU AEng, at the BWI National Coordination Meeting, at the Grand Melia Hotel Jakarta, Wednesday (7/12).

ITS is the only tertiary institution that received an award in the Waqif category of State University Institutions for Placement of Cash Waqf in Green Sukuk Waqf Instruments as the Waqif of the First Time Private Placement Sukuk Waqf in Indonesia.

The ITS Chancellor said BWI gave this award because ITS had entered into an MoU and PKS with BWI in June 2022. In the PKS, ITS has made a waqf of IDR 50 billion using a private placement in collaboration with BWI and the Indonesian Ministry of Finance.

ITS Chancellor Prof. Mochamad Ashari MEng IPU AEng when receiving the 2022 BWI Awards submitted by Deputy Minister of Religion Dr. H Zainut Tauhid Sa’adi MSi and Chief Executive of BWI Prof Dr. Muhammad Nuh DEA

Ashari said ITS is very serious in terms of waqf. “We donate with the intention for all active and retired ITS extended families to get charity from the waqf that we intend,” he said.

Additionally, ITS allocates special funds for waqf by adding a lecturer in Electrical Engineering. “Not taken from the remaining funds,” he said. Previously, ITS had also placed IDR 3 billion in BWI, but not in a private placement. So currently, the total ITS waqf has reached IDR 53 billion. “God willing, in the future, ITS will routinely give endowments of at least IDR 20 billion every year,” he said.

Later, the profit sharing of the waqf funds managed by BWI for this Sukuk at the Ministry of Finance will be reallocated to help provide ITS students who can’t afford it in the form of ITS waqf scholarships. For this endowment, ITS has been named the first initiator in an educational institution or higher education institution to conduct waqf and take a big part in developing the world of waqf in Indonesia.

The recipients of the 2022 BWI Awards in the Waqif category of State Higher Education Institutions took a group photo after receiving the award

Meanwhile, the Chairperson of the Executive Board of the Indonesian Waqf Board, Prof. Dr. Muhammad Nuh DEA, said, this award was a form of appreciation for ITS, which had become the pioneer of the first legal entity state university (PTN-BH) to start waqf with cash-linked Sukuk waqf.

“Starting from ITS, then spreading goodness in other tertiary institutions, especially in the realm of PTN-BH. Now there are IPB, Unair, and other PTN-BHs that will follow to participate in starting waqf with this cash-linked Sukuk waqf system,” he said.

He also said that this waqf is in line with the endowment fund that is being prepared by ITS. “The endowment fund is the same as waqf where the benefit is the charity that is never interrupted,” said the man who also served as Chancellor of ITS for the 2003-2007 period.

This award is part of BWI’s annual big event, namely the National Coordination Meeting of all BWI branches in Indonesia. On this occasion, the Chancellor of ITS was also invited to officiate the opening of the 2022 BWI National Coordinating Meeting (Rakornas) with the Deputy Minister of Religion of the Republic of Indonesia and the Chairman of the Implementing Body of the Indonesian Waqf Board. (ITS Public Relation)

ITS Chancellor Prof. Mochamad Ashari MEng, Deputy Minister of Religion Dr. H Zainut Tauhid Sa’adi MSi, and Chairperson of the Indonesian Waqf Agency Executive Board Prof. Dr. Muhammad Nuh DEA at the opening of the 2022 BWI National Coordination Meeting

Reporter: Pratino Aditya Tama