PERAN DAN LEGALITAS BANK WAKAF MIKRO DALAM PEMBERDAYAAN EKONOMI MASYARAKAT PESANTREN DI JAWA TENGAH

Waqf played a very important economic and social role in Islamic history. Waqf serves as a source of financing for worship, education, social and public services. Many developments in the Islamic economy or Islamic banking sector are associated with waqf, including in 2017 the Government together with OJK initiated the existence of Micro Waqf Banks as an effort to answer poverty problems, in collaboration with Islamic boarding school-based institutions in Indonesia. This study used normative juridical research methods using secondary data using qualitative descriptive analysis. The results of this study show that the term micro waqf bank was chosen because the government expects that the core of the funds distributed to the community is maintained without reducing its benefits, besides that it is named Micro Waqf Bank because BWM's operations are in the pesantren environment. During its development, BWM used the term micro waqf bank in naming its institution, but from the legal basis and form of its legal entity, it was very far from its naming. The legal entity of BWM is a cooperative, while BWM's business license is a sharia microfinance institution so that its supervision is under the Financial Services Authority (OJK)