Revitalisasi Wakaf Untuk Pembangunan Berkelanjutan Melalui Integrasi Keuangan Syariah SDGs
##plugins.themes.bootstrap3.article.main##
Abstract
The revitalization of waqf as an Islamic social finance instrument is gaining increasing attention in an effort to overcome socio-economic inequality and support the sustainable development agenda. This article examines the potential for the integration of waqf with modern Islamic financial mechanisms and the Sustainable Development Goals (SDGs) framework to encourage inclusive and sustainable socio-economic transformation. Using a qualitative-analytical approach, this study elaborates the classic concept of waqf with contemporary financial innovations, including sukuk, sharia microfinance, and financial technology-based waqf platforms (fintech). The results show that traditional waqf practices, despite having significant historical contributions, are still not optimally utilized due to weak governance, limited asset diversification, and regulatory fragmentation. Through the integration of waqf in the broader Islamic financial ecosystem, this article offers a hybrid model that is able to improve the liquidity, scalability, and accountability of waqf management. The model is also aligned with the goals of maqāṣid al-sharī'ah and the SDGs targets, in particular poverty alleviation (SDG 1), quality education (SDG 4), and inequality reduction (SDG 10). This research highlights the importance of digital transformation and institutional reform in optimizing waqf management, including the use of blockchain technology for transparency and smart contracts for the efficiency of fund distribution. Policy implications emphasize the need for regulatory harmonization, cross-sector collaboration, and capacity building of waqf institutions. The main contribution of this article lies in the preparation of a comprehensive framework for the revitalization of waqf as a dynamic instrument capable of bridging Islamic ethical finance with the global development agenda. Thus, waqf has the potential to be a catalyst for equitable development and long-term socio-economic resilience, both in Muslim-majority countries and in the global context.
##plugins.themes.bootstrap3.article.details##
Section
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
You are free to:
- Share — copy and redistribute the material in any medium or format for any purpose, even commercially.
- Adapt — remix, transform, and build upon the material for any purpose, even commercially.
- The licensor cannot revoke these freedoms as long as you follow the license terms.
Under the following terms:
- Attribution — You must give appropriate credit , provide a link to the license, and indicate if changes were made . You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
- ShareAlike — If you remix, transform, or build upon the material, you must distribute your contributions under the same license as the original.
- No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.
Notices:
You do not have to comply with the license for elements of the material in the public domain or where your use is permitted by an applicable exception or limitation .
No warranties are given. The license may not give you all of the permissions necessary for your intended use. For example, other rights such as publicity, privacy, or moral rights may limit how you use the material.
References
Abd Aziz, N. A., Sapuan, N. M., Tamyez, P. F. M., & MKom, N. N. S. T. (2025). The roles of waqf in social development: A conceptual review. Global Business and Management Research, 17(1), 1–11. https://gbmrjournal.com
Abdullah, M. (2018). Waqf, sustainable development goals (SDGs) and maqasid al-shariah. International Journal of Social Economics, 45(1), 158–172. https://doi.org/10.1108/IJSE-10-2016-0295
Abdullah, M. (2020). Reflection of Maqāṣid al-Sharī’ah in the classical fiqh al-awqāf. Islamic Economic Studies, 27(2), 79–90. https://doi.org/10.1108/IES-09-2019-0024
Afifi, A. A. (2025). The legacy of waqf: Foundation and its continuities. WAQF Business Review, 1(1), 1–13. https://waqfbusinessreview.com
Afnandito, M. (2025). From maqāṣid shariah to policy: An epistemological framework for ethical, holistic, and sustainable Islamic economic development. El-Qish: Journal of Islamic Economics, 5(2), 180–191. https://doi.org/10.1234/elqish.v5i2
Al-Saudi, H. A. A. (2024). Blockchain technology and the potential of waqf revival (Master’s thesis). Hamad Bin Khalifa University. https://qspace.qu.edu.qa
Alharthi, W. J. (2021). Using blockchain in waqf, wills and inheritance solutions in the Islamic system. International Journal of Economics and Business Administration, 9(2), 101–116. https://www.ijeba.com
Ayub, M., Khan, K., Khan, M., & Ismail, M. (2025). Management and governance of awqāf as social finance institutions. Qualitative Research in Financial Markets. https://doi.org/10.1108/QRFM
Darajatun, S. (2025). Waqf and microfinance integration strategy in improving welfare through community economic empowerment. Jurnal Ilmu Ekonomi dan Bisnis Islam, 7(1), 75–90. https://journal.uinsgd.ac.id
Dirie, K. A., Alam, M. M., & Maamor, S. (2024). Islamic social finance for achieving sustainable development goals: A systematic literature review and future research agenda. International Journal of Ethics and Systems, 40(4), 676–698. https://doi.org/10.1108/IJOES-03-2023-0065
Eldersevi, S., Mohammed, M. O., & El Amri, M. C. (2021). Analysis of global ethical wealth based on maqasid al-shari’ah: The case of waqf. In Islamic wealth and the SDGs (pp. 469–484). Springer. https://doi.org/10.1007/978-3-030-65313-2_24
Hai, A., Kassim, S., & Mohtesham, M. M. J. (2021). An innovative Sukuk-Waqf for Islamic microfinance institutions. Tazkia Islamic Finance and Business Review, 15(1). https://tazkia.ac.id
Hariram, N. P., Mekha, K. B., Suganthan, V., & Sudhakar, K. (2023). Sustainalism: An integrated socio-economic-environmental model. Sustainability, 15(13), 10682. https://doi.org/10.3390/su151310682
Hidayatulloh, M. S., & Nahar, M. M. (2025). Digital zakat as a social innovation. El-Hekam, 10(2), 186–204. https://doi.org/10.5678/elhekam.v10i2
Huda, M., Supriyadi, A. P., & Ramadhita, R. (2025). Productive waqf law reform. MILRev: Metro Islamic Law Review. https://ejournal.metrouniv.ac.id
Ibrahim, N. H., Yusuf, S. N. S., Zainol, A. S., & Lateh, N. (2026). Strengthening waqf management. Journal of Advanced Research in Business and Management Studies, 42(1), 1–14. https://publisher.uthm.edu.my
Jafar, A., Ibrahim, H., & Malik, R. (2025). Waqf: From classical charitable system to modern financial tool. International Journal of Ethics and Systems. https://doi.org/10.1108/IJOES
Kamaruzaman, N. R., & Ishak, M. S. I. (2023). Waqf institutions: A systematic literature review. Advanced International Journal of Business, Entrepreneurship and SMEs, 5(18), 134–151. https://doi.org/10.35631/aijbes
Klarer, M. (2023). An introduction to literary studies. Routledge. https://doi.org/10.4324/9781003039914
Latifah, E. (2025). Optimising cash waqf as fintech instrument. In International Seminar on Islamic Education & Peace (Vol. 5, pp. 538–548). https://conference.uinsgd.ac.id
Leavy, P. (2022). Research design. Guilford Press. https://www.guilford.com
Lubis, I. S., & Marpaung, M. (2025). Reconstructing the role of waqf. International Journal of Management Research and Economics, 3(2), 174–199. https://doi.org/10.1234/ijmre
Marpaung, A. (2020). Increasing economic empowerment through productive waqf. BIoHS Journal, 2(3), 632–642. https://doi.org/10.33258/biohs
Maspul, K. A., & Akrem, A. M. (2026). Maqasid markets. Deepublish. https://deepublishstore.com
Mik-Meyer, N. (2020). Multimethod qualitative research. Qualitative Research, 5(1), 357–374. https://doi.org/10.1177/146879412090
Mohamed, H. (2021). Managing Islamic financial risks. In Artificial Intelligence and Islamic Finance (pp. 61–76). Routledge. https://doi.org/10.4324/9781003121718
Mohamed, I., Zikran, G., Nor, K. A. M., & Hamadou, I. (2024). Cash waqf for mosque development. Aceh International Seminar on Zakat and Waqf, 1(1). https://doi.org/10.1234/aiszw
Musaddad, H. A., et al. (2025). Harnessing maqāṣid al-sharīʿah for SDGs. International Journal of Islamic Finance and Sustainable Development, 17(2), 129–149. https://doi.org/10.1504/IJIFSD
Rusydiana, A. S., et al. (2025). Waqf development models for SDGs. International Journal of Islamic Finance and Sustainable Development, 17(1), 51–74. https://doi.org/10.1504/IJIFSD
Shaban, O. S., & Omoush, A. (2026). The role of waqf. Al-Zaytoonah University Journal of Business, 2(01), 58–68. https://zuj.edu.jo
Shahid, M., et al. (2024). Islamic social finance and SDGs. International Journal of Ethics and Systems, 40(2), 381–394. https://doi.org/10.1108/IJOES-09-2022-0197
Shirazi, N. S. (2021). The significance of waqf. In Waqf Development and Innovation (pp. 13–26). Routledge. https://doi.org/10.4324/978100312
SumBillah, M. (2024). Maqasid shari’ah and development. Journal of Islamic Banking & Finance, 41(2). https://ibtra.com
Syahran, S., & Alzahira, S. (2025). Cash waqf management strategy. Seriat Ekonomisi, 2(2), 77–85. https://doi.org/10.1234/seriatekonomisi
Sych, O., & Pasinovych, I. (2021). Hybrid business models. Science and Innovation, 17(6), 61–71. https://doi.org/10.15407/scine17
Thaidi, H. A. A., et al. (2023). Islamic social finance challenges. Ulum Islamiyyah, 35(02), 63–85. https://doi.org/10.33102/uij
Yumna, A., Marta, J., & Yanuarta, R. (2025). Financial inclusion and well-being. International Journal of Ethics and Systems. https://doi.org/10.1108/IJOES
Zainal, N., et al. (2025). Strategic asset governance in waqf. IJAREMS, 14(3), 805–820. https://doi.org/10.6007/IJAREMS
Zainuddin, M. (2025). Role of Indonesian Waqf Agency. Jurnal Al-Fikrah, 14(1), 83–100. https://doi.org/10.1234/alfikrah