ITS Chancellor Prof. Dr. Ir Mochamad Ashari M Eng (right) and Chair of the BWI Implementing Body Prof. Dr. Ir Muhammad Nuh DEA ​​show the signed memorandum of understanding

ITS Campus, ITS News – To fulfill its mission to prosper the entire academic community, especially students who need scholarships, the Sepuluh Nopember Institute of Technology (ITS) seeks to help pay for its students through the investment of waqf funds managed by third parties. This was marked by the signing of a Memorandum of Understanding (MoU) with the Indonesian Waqf Board (BWI), which was mandated as the manager of the waqf funds, Monday (31/5).

Located in the Leadership Meeting Room, ITS Rectorate Building, this MoU was signed directly by the ITS Chancellor, Dr. Ir Mochamad Ashari M Eng, and the BWI Implementing Body for the 2021-2024 term of service, Prof. Dr. Ir Muhammad Nuh DEA.

Also attending to accompany the ranks of ITS leadership including Deputy Chancellor II for Planning, Finance and Infrastructure Ir Mas Agus Mardyanto ME Ph.D., Deputy Chancellor III for Human Resources, Organization and Information Systems Technology Dr. Eng Ir Ahmad Rusdiansyah M Eng, Deputy Chancellor IV Research, Innovation, Cooperation, and Alumni fields Bambang Pramujati ST MSc Eng Ph.D., and other ITS leadership ranks.

ITS Chancellor Prof. Dr. Ir Mochamad Ashari M Eng when delivering his speech at the signing of a memorandum of understanding (MoU) with the Indonesian Waqf Board

In his remarks, the chancellor, who is familiarly called Ashari, said the purpose of holding this MoU was to carry out the ITS National Money Waqf Movement (GNWU), which is the money waqf movement planned to be sourced from the ITS Endowment Fund and managed by BWI. In practice, these funds are used to help ITS students in the form of tuition assistance. “Because ITS endowment funds are still limited, for now, the waqf comes from ITS funds,” he explained.

Prof. Dr. Ir Muhammad Nuh, DEA ​​, on this occasion expressed his appreciation to ITS for appointing BWI to manage the waqf funds it collected. The man who is usually called Nuh emphasized that BWI’s duty here is only as of the manager of ITS waqf assets, where the management of this waqf is carried out to increase the added value of the waqf.

Furthermore, Nuh explained that the initial funds submitted to BWI will still be owned by ITS, while the added value obtained from these funds will later be donated. This policy, according to Nuh, was the right and strategic decision taken by ITS, considering that the source of waqf funds will not go anywhere if they are not invested in developing. “Apart from being an investment, this is a form of alms and charity from all ITS academicians,” said the Chairman of the ITS Board of Trustees (MWA).

The Chairperson of the BWI Implementing Body for the 2021-2024 term, Prof. Dr. Ir Muhammad Nuh DEA, gave his remarks and presentation on waqf management by BWI.

According to Ashari, there were two memoranda of understanding signed in the procession this time. Among them are the GNWU manuscript for education, research, and development of waqf assets at ITS and the GNWU manuscript for tuition assistance programs for students. This agreement itself will be valid for four years until 2025.

Meanwhile, for its type, Ashari revealed that the waqf is divided into two forms, namely the Manarul Ilmi Waqf and the ITS Endowment. For the endowment fund itself, up to now, it has collected Rp. 6 billion. This fund comes from donations from alumni and other parties that have been collected little by little. “We are committed to increasing this Endowment fund by twenty billion rupiahs every year,” said this professor of Electrical Engineering.

With this collaboration with BWI, Ashari said that ITS would not only put funds for the internal campus, but ITS will also allocate part of the funds for Indonesian waqf, where the management is carried out jointly. “All of them have a mission not only for ITS students and society in the future but also for the future,” said Ashari. (far/ITS Public Relations)

Group photo session at the end of the event with invitees attending the signing of the memorandum of understanding (MoU) between ITS and the Indonesian Waqf Board

Reporter: Ferdian Wibowo