Simpan Enables a New Way of Productive Waqf for Indonesia’s Muslims
Simpan Asset Management, Istiqlal Global Fund & Trimegah Sekuritas enable productive waqf via Reksa Dana Syariah, building sustainable endowment for Masjid Istiqlal.
Jakarta, 14 October 2025 - PT Simpan Asset Management, in collaboration with Istiqlal Global Fund (IGF) and PT Trimegah Sekuritas Indonesia Tbk, is introducing a new approach to productive waqf through Sharia mutual funds. The initiative aims to establish a sustainable endowment fund (dana abadi) for Masjid Istiqlal, combining modern investment practices with Sharia principles to generate long-term social and economic impact.
The initiative was formally launched during the Islamic Financial Literacy Seminar titled “Optimizing Waqf Through Sharia Mutual Fund Strategies for the Development of the Istiqlal Endowment Fund”, held at Masjid Istiqlal, Jakarta, and attended by prominent figures including Prof. Nasaruddin Umar, Minister of Religious Affairs and Grand Imam of Masjid Istiqlal.
Prof. Nasaruddin Umar, Minister of Religious Affairs and Grand Imam of Masjid Istiqlal. Photo by Trimegah Sekuritas.
At the event, Simpan Asset Management, Istiqlal Global Fund, and Trimegah Sekuritas strengthened their collaboration by signing a commitment of synergy, witnessed directly by the Minister. This signing marks a significant milestone in developing Indonesia’s productive waqf ecosystem, a concrete step toward integrating financial innovation, religious values, and social impact to empower the ummah.
Photo documentation by Trimegah Sekuritas
Turning Sharia Investment Innovation into Real Social Impact
“We saw an opportunity to turn this innovation into something meaningful, a way to manage waqf transparently, sustainably, and professionally, so its benefits can continuously support education, social development, and economic empowerment,” said Ratih Marissa, Director of Client Business at Simpan Asset Management.
Through this initiative, Simpan aims to demonstrate how Sharia-based investment products can bridge finance and philanthropy, transforming charitable intentions into lasting, measurable impact for the ummah.
From Building the Mosque to the Mosque Building the People
Ahsanul Haq, Director of Istiqlal Global Fund. Photo by Istiqlal Global Fund.
At the same event, Ahsanul Haq, Director of Istiqlal Global Fund, highlighted the broader vision of empowering the Muslim community through productive waqf.
“Masjid Istiqlal is not only a place of worship but also a center of social and economic interaction for the ummah. Through productive waqf, we want to make the mosque a hub that connects the entire ecosystem — from mustahik to muzaki, from waqif to mauquf ‘alaih,” he said.
The initiative received strong endorsement from Prof. Nasaruddin Umar, Grand Imam of Masjid Istiqlal and Minister of Religious Affairs of the Republic of Indonesia, who highlighted its alignment with Istiqlal’s vision of community-driven empowerment.
“I am truly delighted today because the Istiqlal Global Fund, under its Director’s leadership, has begun to realize the ideas we’ve long discussed for Istiqlal,” said Prof. Nasaruddin.
“For a long time, I have wanted to shift the paradigm, it is not the people who should build the mosque, but rather the mosque that should build the people, as the Prophet’s mosques once did.”
Introducing Simpan Cash Syariah Kelas Dana Abadi Istiqlal
The seminar featured three experts from academia and the Islamic capital market:
Dr. Yoyok Prasetyo, ST., M.Sy., CRP, AWP — Academic in Islamic Capital Markets
Hasbie Sukaton — Retail Mutual Fund Strategy & Partnerships, PT Trimegah Sekuritas Indonesia Tbk
Armand Adhirama Marthias — Investment Director, PT Simpan Asset Management
During the literacy session, Armand Adhirama Marthias shared how Simpan Asset Management would manage the Simpan Cash Syariah Fund Kelas Dana Abadi Istiqlal in a transparent and accountable manner.
Photo by Trimegah Sekuritas
“Transparency has always been at the heart of how Simpan operates,” Armand said. “It’s what sets us apart and what we continuously strive to deliver, ensuring that every investor and partner can see clearly how their funds are managed and how they make a difference.”
We hope this initiative will progress smoothly and generate meaningful, lasting impact for the community.