INDONESIA: Gadjah Mada University met with the Indonesian Waqf Agency, or Badan Wakaf Indonesia (BWI), to discuss the management of university endowment funds in the government’s Shariah securities through the issuance of Sukuk Waqf. The meeting aimed to explore the development of Sukuk Waqf instruments to strengthen education funding, with state universities receiving project benefits as well as investment income and the government pursuing its education-focused initiatives with financial support from the universities’ investments.
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