This study aims to examine how the legality of productive waqf management in the Aceh Qanun and the implementation of Law No. 41 of 2004, then see how the implementation of productive waqf is carried out and realize the welfare of the people in the city of Banda Aceh. The type of research used is field research with a qualitative descriptive approach that describes data and information based on facts obtained in the field regarding the management of productive waqf. The result of the research are: First, the legality of productive waqf has not yet been fully regulated in the Aceh Qanun No. 10 of 2018, therefore the implementation of the Qanun has not been maximized, with the reason Baitul Mal is still focused on the management of zakat, infaq and alms. Second, as for the implementation of Law No. 41 of 2004 as stipulated in article 43 verses 2, the concept of management and development of waqf property in Aceh is managed and developed productively in according to its purpose, function and to whom it is. Third, The implementation of productive waqf management in Banda Aceh city is done by renting land, shop, kiosk, landlord or rental houses and so on, because of waqf assets which owned by Banda Aceh city mostly in the form of land and buildings. Fourth, The productive waqf hasn’t been yet significant affected to the improvement of public welfare in Banda Aceh city because the acceptance of rental waqf result is still in the lowest point.