The development of waqf management from land and building waqf has a cash waqf that can be a welfare value for Muslims in the management of their assets, especially in the waqf institution in charge of managing waqf or nadzir in order to be more competent in handling cash waqf issues. The purpose of this study was to determine the role of cash waqf in improving the welfare and welfare of the community. The research method used is qualitative descriptive and observation, interview and documentation data collection techniques. The results of this study indicate that the role of cash waqf in improving welfare has been held by KSPPS Khaeru Umah, this is obtained because with the benefits of cash waqf called Productive Loans generate profits or profits in business or business. From the indicators of maqashid al-shari'ah that are used there are five aspects including the assets (al-Maal) which serve as a benchmark for the well-being of al-mauquf alaih, in addition it is accompanied by an increase in religious aspects (ad-Din) which are considered to have the most important strength in among other aspects of maqashid al-shari'ah. In terms of improvement can be said to increase for the welfare of al-mauquf alayhi. In the analysis before and after receiving benefits from Productive Loans al-mauquf alaih in terms of business or business did not experience good development, but after the receipt of protab al-mauquf alaih get additional capital from the business so that it can be managed well and even develop to the results or its profit can increase significantly, this can be said that with the role of cash waqf called the Productive Loan program that has been held by the Kaeru Ummah KSPPS it has a pretty good influence or impact on al-mauquf alaih.