Sustainable Islamic Waqf Finance Through Blockchain Digital Innovation

Adiestia Rani Ardilla; Laily Nur Fiana; Mirza Ainun Nabil

doi:10.61159/17f9pm68

Authors

Adiestia Rani Ardilla University of Darussalam Gontor
Laily Nur Fiana University of Darussalam Gontor
Mirza Ainun Nabil University of Darussalam Gontor

DOI:

https://doi.org/10.61159/17f9pm68

Keywords:

digital waqf; blockchain; sustainable Islamic finance; smart contract; nazir; transparency

Abstract

Waqf, as an Islamic financial instrument, holds immense potential in promoting sustainable community welfare; however, its management continues to face fundamental challenges, including a lack of transparency, weak accountability among nazirs, and low public trust. This study aims to examine how blockchain-based digital innovation can serve as a transformative solution in realizing sustainable Islamic waqf finance. Employing a descriptive qualitative approach through literature review and comparative analysis, this research explores the technical mechanisms of blockchain, encompassing decentralization, transparency, immutability, and smart contracts and their relevance to modern waqf governance. The findings indicate that blockchain technology can significantly enhance the accountability of waqf fund management, automate benefit distribution through smart contracts, and broaden the reach of waqf collection on a global scale. Nevertheless, its implementation faces considerable challenges in terms of regulatory frameworks, digital literacy, and compliance with Sharia principles. This study concludes that the synergy between technological innovation, adaptive regulatory frameworks, and strengthened digital waqf literacy is the key to establishing a waqf system that is transparent, productive, and capable of delivering long-term impact for the Muslim community.

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