Asep Nurimam Munandar1*, Mukhaer Pakkana2, Amrizal3 Abstract. Indonesia has a significant waqf potential. However, its realization has not been optimal. Using the Bogor Waqf Forest Foundation as the case study, this research analyzes the implementation of the waqf forest development strategy. It assesses the priority Benefits, Opportunities, Costs, and Risks (BOCR) faced. This study uses the business model canvas (BMC) to the BOCR by mapping the nine business blocks of the canvas model. The study finds that the main priorities to strengthen the management and development of the forest waqf project are 1) nāẓir professionalism and competence in knowledge of waqf laws, 2) research and discourse development, and 3) personal approach to collecting waqf funds. Keywords: Waqf; Waqf Forest; Analytic Network Process Abstrak. Indonesia memiliki potensi wakaf yang signifikan, namun realisasinya belum optimal. Dengan memilih Yayasan Hutan Wakaf Bogor sebagai studi kasus, penelitian ini menganalisis implementasi strategi pengembangan hutan wakaf dan menilai prioritas manfaat, peluang, biaya, dan risiko (BOCR) yang dihadapi. Kajian ini menerapkan business model canvas (BMC) pada BOCR, dengan memetakan sembilan blok BMC. Studi ini menemukan bahwa prioritas utama untuk memperkuat pengelolaan dan pengembangan proyek wakaf hutan adalah 1) profesionalisme nāẓir dan kompetensi dalam pengetahuan hukum wakaf, 2) penelitian dan pengembangan wacana, dan, 3) pendekatan personal dalam pengumpulan dana wakaf. Kata kunci: Waqf; Waqf hutan; Proses Analisis Network Waqf Forest Development Strategy in Cibunian Bogor Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics) Volume 14 (2), Jul-Dec 2022 P-ISSN: 2087-135X; E-ISSN: 2407-8654 Page 327 - 342 1,2,3Ahmad Dahlan Institute of Technology and Business Jakarta, Indonesia E-mail: 1asepnurimammunandar@gmail.com, 2mukhaer_p@yahoo.com, 3amrizal@itb-ad.co.id Author: Asep Nuriman Munandar Received: 19 September 2022 Accepted: 26 December 2022 Published: 31 December 2022 mailto:asepnurimammunandar%40gmail.com?subject= mailto:mukhaer_p%40yahoo.com?subject= mailto:amrizal%40itb-ad.co.id?subject= 328 http://journal.uinjkt.ac.id/index.php/iqtishad DOI: https://doi.org/10.15408/aiq.v14i2.28119 Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics) Vol. 14 (2), Jul-Dec 2022 Introduction The progress of developing cities in Indonesia will confiscate a lot of the natural environment and put pressure on land that should be conservation sites. There have been many forest lands whose functions have changed, which is a significant threat to the survival of the various species in the forest. Waqf forest is one of the innovative movements supporting the preservation and protection of the environment, which was initiated by raising funds voluntarily to buy critical forest land to be developed back into green land. This forest land has ecological value for the surrounding village community and Muslims. Forest waqf can answer several problems of natural damage by irresponsible parties. In addition, there are positive values in that the donated forest will be planted with several types of trees and some fish cultivation. Thus, people can take advantage of it. Waqf in Indonesia is mainly in the form of land and is processed to become productive waqf where the management is as plantation and agricultural land Rahman et al. (2020). The problem in the management aspect that is the top priority is the lack of HR competency (Mutiara, 2021). Sup (2021) argues that waqf forests produce economic outputs, rebuild land to be turned into a forest, and social benefits, and can be managed by villagers on the condition that maintaining forest sustainability is something that must be implemented. In addition, waqf forests, with the aim of sustainable development, can support several SDG points, namely reducing poverty, increasing public health and welfare, sanitation and clean water, and creating a good climate. Waqf forests support ecotourism development, carry out friendly activities, build a supportive environment and develop forest conservation communities (Ali and Kassim, 2020). Indriati (2017) argues that the changes that occur are substantial, if realized, and will have a multiplier effect on the economic welfare of Muslims. However, the thing that must be considered is changing the mindset of Muslims in Indonesia because waqf is still limited to durable objects that can be used for social activities, such as schools, mosques, and cemeteries. Laws and regulations on waqf assign waqf as an engine of change, thoughts, behavior, and attitudes of Muslims towards the perspective of waqf. Suppose waqf is assumed to have a multiplier effect. In that case, this impacts economic development in Indonesia to reduce the burden on the government; income is equitably distributed. It has the effect of reducing inequality and poverty (Fitri et al., 2018). However, behind that, all waqf designations must be managed professionally, considering that its implementation takes momentum and several supporting policies; in this case, the government must pay special attention to the empowerment of this waqf as an alternative source for the social http://journal.uinjkt.ac.id/index.php/iqtishad https://doi.org/10.15408/aiq.v14i2.28119 Asep Nurimam Munandar. Waqf Forest Development Strategy in Cibunian Bogor 329 http://journal.uinjkt.ac.id/index.php/iqtishad DOI: https://doi.org/10.15408/aiq.v14i2.28119 welfare of the community. Two fundamental issues related to national waqf are institutions and markets. National waqf needs institutional support and market order to form a well-established Islamic finance ecosystem (Nasution et al., 2021). Waqf forest, located in Cibunian Village, Bogor Regency, West Java Province, is creating waqf assets in the form of land for the welfare and benefit of the people. The idea of the waqf forest was written in an article posted on sharianews.com in August 2018, giving an extraordinary response from the waqf stakeholders. So, one of the wāqif decided to realize the waqf forest by endowing his 1500 m2 of land in Kampung Muara 1, Cibunian Village, Bogor Regency, West Java Province. In 2019, the Bogor Waqf Forest Community was formed by the Yasirru Foundation. In 2019 the Bogor Waqf Forest Community was developed by the Yasirru Foundation. The Yassiru Foundation is a foundation that focuses on the field of taḥfīẓ houses as a form of community service based on productive waqf. Currently, the Yassiru Foundation manages two taḥfīẓ housing units in Babakan Lio and Balumbang Jaya, West Bogor. The community attempted to find waqf funds through cash waqf, which was used to acquire a second waqf forest area of 1200 m2 in June 2019; in July 2020, the community-acquired 38,320 m2 of land for waqf forest. In September 2020, the Bogor Waqf Forest Community transformed into the Bogor Waqf Forest Foundation to formalize this activity and focus on developing waqf forests. They cooperate with many supporting institutions related to developing the potential of waqf forests. This study aims to examine the development strategy of the Bogor Waqf Forest Foundation. The foundation of the waqf forest is a nāẓir group that manages and develops waqf forests to sustain the results. The activists at the Waqf Forest Foundation are professionals in the fields of agriculture, forestry, Islamic economics, and business. They try to apply the concept of waqf to preserve the forest environment and use it to improve the people's economy, especially those who live around the waqf forest. The management and development of waqf by the Waqf Forest Foundation are motivated by the desire of researchers who see that many people care about worship in the form of waqf to help all the current socio-economic problems in Indonesian society. Literature Review Nawawi (2013) divided the dimensions of implementing productive waqf into two sides: the first is the religious dimension, where Islam teaches that waqf needs to be done so that it is included in the vertical worship of Allah (ḥablun http://journal.uinjkt.ac.id/index.php/iqtishad https://doi.org/10.15408/aiq.v14i2.28119 330 http://journal.uinjkt.ac.id/index.php/iqtishad DOI: https://doi.org/10.15408/aiq.v14i2.28119 Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics) Vol. 14 (2), Jul-Dec 2022 min Allāh). The second dimension is that utilization waqf is horizontal worship (ḥablun min Annās) related to socio-economic development. Thus, this productive waqf has a significant influence in helping the welfare of the people—for example, the development of sports facilities and social worship activities in the surrounding environment. A professional waqf management strategy is important to make waqf land more productive. Aulia (2022) maintains that waqf can be used for productive activities in supporting national economic programs. In addition, professional management of waqf institutions is important to make them more transparent. It is also necessary to pay attention to the welfare of nāẓir's resources so that the nāẓir profession is more professional and not only because of religion. A pattern of business development must be transparent to report programs that have been plotted into productive waqf in the form of financial reports. Nāẓir needs to have good intuition because nāẓir is an entrepreneur with an excellent managerial level. After all, productive waqf must be managed with good business opportunities (Rivai, 2016). The concept of forest waqf has existed in Indonesia since 2012. It was initially developed in Aceh. The land purchased is in critical condition and must be cultivated to preserve the environment. In addition, the land is also converted into a forest so that it can be used ecologically and economically. Local villages manage the waqf forests in Aceh to obtain public welfare benefits as well as the functions and objectives of the waqf itself (Setyorini et al., 2020). In waqf forests, some tangible benefits must be returned to the nāẓir. The nāẓir will use this benefit for the development of waqf forests. For example, suppose an agroforestry program is developed in a waqf forest. In that case, part of the profits from forest sales (not including forest timber) will be used to pay workers or purchase new land to be managed and developed as the next waqf forest (Ali & Kassim, 2020). Suppose waqf is collected from people with high incomes and given to those entitled to receive it. In that case, consumptive objects by those with high incomes will be reduced because the influence of the waqf has a balance between expenditure and income. Below are some of the empowerment of waqf forests as follows (Indriati, 2017). First, the orientation of forest waqf in agroforestry is not only limited to certain parties but is more focused on utilization for public purposes such as agriculture, gardens, and livestock. Second, if there is a rapid development of the waqf forest, people will do waqf. Suppose waqf is implemented for the environment or forest waqf. http://journal.uinjkt.ac.id/index.php/iqtishad https://doi.org/10.15408/aiq.v14i2.28119 Asep Nurimam Munandar. Waqf Forest Development Strategy in Cibunian Bogor 331 http://journal.uinjkt.ac.id/index.php/iqtishad DOI: https://doi.org/10.15408/aiq.v14i2.28119 It will balance the needs in terms of development and the environment, as in the study by Setyorini et al. (2020), which revealed that forest waqf is a solution to protect the environment because it impacts the balance between environmental protection and national development. Balancing both will benefit the community as well. Furthermore, the forest waqf also plays a role in indirect conservation by planting trees. This environmental preservation activity will continue if this forest waqf is appropriately used. The concept of productive waqf from the perspective of waqf forests and prioritizing the environment has not been widely adopted in Indonesia yet. However, this has long been practiced in Kuwait through the Kuwait Awqāf Public Foundation (KAPF) through the Environmental Fund program, which started in 1995. The organization manages and distributes the proceeds of the waqf to support greening projects in mosques and schools and also to collaborate with companies in the form of investment. Later, when KAPF has a stake in the shares, the policy in every company activity will produce environmentally friendly goals. A similar project was started in Indonesia in 2012, particularly in Aceh Province. This started with the purchase of critical land but the potential for planting. In turn, this could preserve the environment, besides that the land was converted back into the forest with the hope that it would have ecological and economic benefits. The local villagers manage the waqf forest in Aceh to obtain general welfare benefits as well as the objectives of the waqf (Setyorini et al., 2020). Beik, one member of the Indonesian Waqf Board (2022), stated that waqf forests are managed optimally to empower communities around the forest. Seeing the significant potential of zakāh and waqf collected from Muslims in Indonesia, the realization of distribution to waqf forests is also wide open. The presence of waqf forests is expected to encourage the increase of the source of income for the surrounding community so that poverty can be alleviated. In addition, the waqf forest also results in economic independence that can be formed through mentoring. One of the empowerment programs developed by BAZNAS is a food barn and livestock hall. Zakāh and waqf can complement each other. So that the target to empower the community around the waqf forest will be well realized. Tanjung (2022) stated that planting trees helps protect the environment. Forests are home to more than 80% of all terrestrial species of animals, plants, and insects. The nature of waqf is a long-term project. The stakeholders have to think about the successors of the project. Therefore, waqf forest managers should be http://journal.uinjkt.ac.id/index.php/iqtishad https://doi.org/10.15408/aiq.v14i2.28119 332 http://journal.uinjkt.ac.id/index.php/iqtishad DOI: https://doi.org/10.15408/aiq.v14i2.28119 Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics) Vol. 14 (2), Jul-Dec 2022 formed as foundations, not individuals. Because in the management of individual waqf forests, there are no legal standards and household constitutions. At any time, the waqf forest will become a big project. However, the concept of productive waqf from the perspective of waqf forest requires attention to the legalization of land ownership so that it does not cause disputes at any time. Experts do not have different opinions regarding the importance of registering waqf forest land with relevant government agencies by the laws and regulations of the Republic of Indonesia. The expert emphasizes that registering waqf forest land to obtain a waqf land certificate from the National Land Agency is one of nāẓir's important tasks that must be carried out immediately. The registration is based on data collection by government-related institutions, and is primarily carried out to secure the status of waqf forest land as waqf land. Waqf land must continue to be managed productively by the nāẓir and cannot be transferred to other parties. The purpose of waqf land as forest must also be stated from the start in the waqf pledge deed so that it can become the legal basis for nāẓir accountability in the future. According to Indonesian law, it is important to certify waqf land due to several reasons (Jannah et al., 2020): 1) to provide legal protection and certainty for wāqif, nāẓir, and represented assets; 2) for nazirs, to get supervision and guidance from the Indonesian Waqf Board, on behalf of the Ministry of Religion; 3) to ensure the sustainability and productivity of waqf forests because the nāẓir must regularly submit reports to the Indonesian Waqf Board; 4) to prevent future disputes over waqf forest land assets and; 4) to support the issuance of fatwas and regulations regarding waqf forests from related agencies. This waqf movement was known as the cash waqf movement, initiated by Muhammadiyah youth in 2010. In the past, the minimum contribution was IDR5.000 considering that most Muhammadiyah youths still had low incomes at that time. They were fundraising up to the purchase of the first waqf for IDR7 million at that time; the price of land was still IDR10.000 per meter square. In the beginning, 300 albasia/sengon trees were planted, with an average age of more than two years (Bahri, 2016). There were some considerations for planting albasia, including all Muhammadiyah members being farmers and owning land. albasia is suitable for growing in mountainous areas; the harvest is about five years. Further, the demand for albasia wood is excellent both domestically and abroad. If, at that time planting, in 2010, albasia trees with an age of more than two years and a total of 300 trees could be harvested in 2013 for IDR100.000 per stem, the results would be around IDR30 million. http://journal.uinjkt.ac.id/index.php/iqtishad https://doi.org/10.15408/aiq.v14i2.28119 Asep Nurimam Munandar. Waqf Forest Development Strategy in Cibunian Bogor 333 http://journal.uinjkt.ac.id/index.php/iqtishad DOI: https://doi.org/10.15408/aiq.v14i2.28119 This research identifies, analyses, and structures the strategy undertaken by the Islamic Asset Management Foundation in this waqf project into the Business Model Canvas. After getting the model framework from the canvas business, do the same to the BOCR network. The initial stage was to obtain the variables for the business model canvas. Namely, the results of direct interviews with nāẓir were identified, analyzed, and then structured into nine blocks of the business model canvas. The results were obtained from nine respondents on the priority of the strategy (Akhlaq et al., 2021). First, nāẓir, who is competent & has knowledge of waqf law, manages a waqf project as someone reliable in managing a business (Nasution et al., 2021). Second, the nāẓir conducts a feasibility study before choosing a business. Preliminary research is an important step that must be carried out and is a major consideration in choosing a business before selecting and then running it to manage waqf funds. Third, the collection of waqf funds uses a personal approach to potential wāqif. It is one of nāẓir's strategies at the PAII Foundation to target wāqif candidates with the potential to have the funds and the desire to participate in waqf projects. The level of agreement of 9 respondents in determining priority choices in the strategy cluster is W = 0.39, shown in the rater agreement value. This indicates agreement on the medium scale of the respondents for the three strategies above in waqf management. Methods This study used the Analytic Network Process (ANP) to analyze whether the benefits, opportunity, cost, and risk (BOCR) of waqf forest development carried out by the Bogor Waqf Forest Foundation are for waqf development, namely to become productive waqf. Furthermore, produce sustainable results. The purpose of using the Analytic Network Process (ANP) in this study is to help provide the best alternative by displaying a priority ranking order. Involving several experts in the field of waqf will produce a priority order and rate of agreement from these experts. In this study, the Analytic Network Process (ANP) method is used to select the main priority in alternative strategies that can be carried out by the Bogor Waqf Forest Foundation for the management of their waqf project. The subjects in this study were taken through experts involved in waqf; the number of respondents to be sampled consisted of 9 respondents, three from the regulator, four from academics, and two from practitioners. http://journal.uinjkt.ac.id/index.php/iqtishad https://doi.org/10.15408/aiq.v14i2.28119 334 http://journal.uinjkt.ac.id/index.php/iqtishad DOI: https://doi.org/10.15408/aiq.v14i2.28119 Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics) Vol. 14 (2), Jul-Dec 2022 Researchers obtained data by conducting direct interviews with the nāẓir of Waqf Forest Foundation and a recap of questionnaire results sourced from the assessments of regulators and academics who have competence in their respective fields of waqf. The secondary data is sourced from literature studies, articles, journals, and internet sites related to the research being conducted. The next stage in data collection in Analytical Network Process can briefly be described as follows: 1) in-depth interview with Bogor Waqf Forest Foundation to find out in-depth about waqf management strategies for community welfare; 2) divide the strategy of the Bogor Waqf Forest Foundation into nine blocks of the Canvass Business Model which are then mapped into Benefit, Opportunity, Risk, and Cost (BOCR) according to the Network Process Analysis (ANP) technique; 3) decomposition to identify, analyze, and structure problems into a Network Analysis Process (ANP) network; 4) compile a comparison questionnaire based on the Network Analysis Process (ANP) network that has been created; and 5) distribute questionnaires to academics and regulators to fill out questionnaires to assess the benefits, Opportunities, Risks, and Costs (BOCR) conducted by the Bogor Waqf Forest Foundation. Results and Discussion The presence of the Bogor Waqf Forest Foundation in the middle of the Cibunian village has had a good impact on the people in the Cibunian Village area, Bogor. The choice of location was not solely because of its strategic location but also because of the direct land handover by the owner. Therefore, the foundation decided on a future location around Cibunian Village. The existence of da'wah, social, educational, and economic programs provides good benefits for the surrounding community to participate in maintaining the preservation of this waqf forest. As Sano (2021) stated, education is part of a waqf establishment that must be prioritized. This program is based on five aspects of maqāṣid al-sharī’a: hifẓ al-dīn, hifẓ al-nafs, hifẓ al-‘aql, hifẓ al-nasab, and hifẓ al-māl. The nāẓir allocated funds for various program indicators, such as the distribution of land development programs to ecology by 38.42%. The development of economic programs, such as the stingless bee cultivation program, goldfish farming, and planting 1,000 plant seeds, is 27.11%. The nāẓir also allocated funds for the education sector, where the waqf forest foundation established a small forestry school for informal educational activities. It also helped children who had http://journal.uinjkt.ac.id/index.php/iqtishad https://doi.org/10.15408/aiq.v14i2.28119 Asep Nurimam Munandar. Waqf Forest Development Strategy in Cibunian Bogor 335 http://journal.uinjkt.ac.id/index.php/iqtishad DOI: https://doi.org/10.15408/aiq.v14i2.28119 dropped out of school to keep their enthusiasm for learning from the foundation's programs. This funding is allocated around 26.72%. The remaining 2.86% is distributed to social humanity and 4.89% to waqf forest managers or foundations. The following chart of the distribution per program: Figure 1. Distribution of Funds Source: wakaf.org (2022) At the analysis stage, the authors identify, analyze and structure the results of the business model canvas (BMC) into the Benefit, Opportunity, Cost, and Risk (BOCR) network. The points described previously in the nine business block canvas models will be used as material for making a comparison questionnaire. After that, several nāẓir validated the comparison questionnaire before the researchers distributed it to experts such as academics and regulators. The Benefit, Opportunity, Cost, and Risk (BOCR) framework are grouped into 4 clusters. From these four aspects, the author divides the point of view into two parts: the internal point of view as a waqf foundation and an external point of view as other parties outside the waqf foundation. The ANP BOCR model has three decision parts, including strategic criteria where decisions are evaluated according to BOCR suitability. Further, control criteria and decision networks to determine alternative priorities for each decision are used to synthesize priorities and get the best answer. http://journal.uinjkt.ac.id/index.php/iqtishad https://doi.org/10.15408/aiq.v14i2.28119 336 http://journal.uinjkt.ac.id/index.php/iqtishad DOI: https://doi.org/10.15408/aiq.v14i2.28119 Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics) Vol. 14 (2), Jul-Dec 2022 Geomean results in Figure 1 get a benefit cluster of 0.222, an opportunity cluster of 0.231, a cluster cost of 0.239, and a cluster risk of 0.230, where overall, respondents think that the highest priority in the four aspects of BOCR is the cost aspect. Figure 2. Results of Geomean Source: Author's analysis using Super Decision (2022) Figure 3. Results of the BOCR Rater Agreement Source: Author's analysis using Super Decision (2022) The overall level of agreement of the respondents can be seen from the value of Kendall's Coefficient (W), which is 0.58; it can be concluded that there is a general agreement among the respondents in the high category. As for Figure 2, general rater agreement 2 out of 9 respondents indicate that the level of understanding from the cluster cost is more significant than (> 0.235), which is in the medium category. It can be concluded that two respondents chose the cost aspect, which is an aspect that can provide a burden in the short http://journal.uinjkt.ac.id/index.php/iqtishad https://doi.org/10.15408/aiq.v14i2.28119 Asep Nurimam Munandar. Waqf Forest Development Strategy in Cibunian Bogor 337 http://journal.uinjkt.ac.id/index.php/iqtishad DOI: https://doi.org/10.15408/aiq.v14i2.28119 term if applying 5 points from the cluster cost carried out by the waqf forest foundation. The alternative strategy cluster contains strategic suggestions that can be carried out by waqf forest foundations in implementing strategies for developing waqf forests. The following are the priority categories of the strategy cluster: 1) the collected waqf funds are more of a personal and potential approach. This is a relatively quick strategy to collect waqf funds so that management can run well. The waqf payers can participate in waqf projects and are approached personally. 2) The nāẓir develops discourse and conducts research before choosing waqf. One of the studies positively impacts knowledge about waqf, especially waqf forests. This is because the more research and writing, the more knowledge on the existence of waqf forests will be, so this will have an influence on prospective wāqif interested in the project being undertaken. 3) The nāẓir's should possess professionalism and competence in knowledge of waqf laws. 5) The nāẓir, a professional in the management and development of waqf forests currently being undertaken, focuses on the intended goals and must have reliable knowledge to develop the waqf project. The following are the results of the rater agreement cluster alternative strategy: Figure 4. Result of Rater Agreement Strategy Source: Author's analysis using Super Decision (2022) http://journal.uinjkt.ac.id/index.php/iqtishad https://doi.org/10.15408/aiq.v14i2.28119 338 http://journal.uinjkt.ac.id/index.php/iqtishad DOI: https://doi.org/10.15408/aiq.v14i2.28119 Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics) Vol. 14 (2), Jul-Dec 2022 The overall level of agreement from the respondents or Kendall's Coefficient (W), which is equal to 0.5, can be concluded that there is a general agreement from the respondents in the high category. As for picture 4, The rater agreement above overall 5 of 9 respondents showed that the level of understanding from the alternative strategy, such as Nāẓir's professionalism, was, on average, 0.78. Meanwhile, the remaining 4 of 9 respondents chose the intermediate level of agreement from the alternative strategy: writing discourse and research, which was 0.77. Figure 5. Overall Alternative Priority Source: Author's analysis using Super Decision (2022) The data processing results on alternative priorities from five respondents showed that the order of strategic aspects became a priority, including 1) the nāẓir's professionalism and competence in knowledge of waqf laws (0.541); 2) discourse development, writing, and research before choosing waqf (0.391); and 3) personal approaches to waqf funds collection (0.070). Conclusion The current study summarized the main priorities from the strategic aspect to be carried out by the Bogor Waqf Forest Foundation to strengthen the management and development of the waqf projects. Those are currently being maintained, including the nāẓir's professionalism and competence in knowledge of waqf laws; discourse development, writing, and research; personal approaches to waqf funds collection. http://journal.uinjkt.ac.id/index.php/iqtishad https://doi.org/10.15408/aiq.v14i2.28119 Asep Nurimam Munandar. Waqf Forest Development Strategy in Cibunian Bogor 339 http://journal.uinjkt.ac.id/index.php/iqtishad DOI: https://doi.org/10.15408/aiq.v14i2.28119 From the results of the BOCR priority research (Benefit, Opportunity, Cost, and Risk) for the internal benefit aspect, the main priority is Nāẓir's professionalism. Meanwhile, the external benefit aspect includes the distribution of waqf to mawqūf 'alayh. In the part of the internal opportunity, the main priority is to attract prospective wāqifs. On the other hand, the main focus for external opportunities is increasing waqf literacy. For the inner cost aspect, the main priority is collecting waqf funds, while the external price's main priority is the time required for waqf development. Finally, for the internal risk aspect, the main focus is that maximum effort is needed so that it can run as planned. The main priority in the external risk aspect is the risk of the relationship between nāẓir and wāqif. References Akhlaq, S. 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