Implementation of Waqf Digitalization to Increase Public Interest in Waqf

Authors

  • Rahmat Ilyas Faculty of Sharia and Islamic Economics, IAIN Syaikh Abdurrahman Siddik Bangka Belitung, Indonesia
  • Iskandar Faculty of Sharia and Islamic Economics, IAIN Syaikh Abdurrahman Siddik Bangka Belitung, Indonesia

Keywords:

Digitalization, Waqf, Financial Potential, Welfare.

Abstract

The development of Islamic economy and finance in recent decades has experienced rapid development. One of the instruments to improve community welfare and overcome poverty problems is waqf. Waqf is also an activity that has two components, namely the spiritual component and the social component in the economic field of the Muslim community. The use of technology to manage waqf assets can provide better benefits for parties involved in waqf management. Digitalization as one of the resources that can be used to improve performance and expand the range of institutional management. Indonesia is one of the countries with a majority Muslim population that has a great potential of sharia social finance (zakat, Infaq, Shadaqah and waqf). In line with the enormous potential, it is necessary to optimize ziswaf to achieve national economic recovery. The application of waqf digitalization in Indonesian waqf institutions has been carried out in collaboration with Islamic financial institutions in the provision of digitalization services, increasing public understanding and interest is carried out by the socialization of the cash waqf program through the QRIS digitization service carried out by the Indonesian Waqf Board.

References

Aldeen, K. N. (2021). 40-Year Bibliometric Analysis of Waqf: Its Current Status and Development, and Paths for Future Research. Journal of Islamic Monetary Economics and Finance, 7(1), 181–200. https://doi.org/10.21098/jimf.v7i1.1308

Al-Jayyousi, O., Tok, E., Saniff, S. M., Wan Hasan, W. N., Janahi, N. A., & Yesuf, A. J. (2022). Re-Thinking Sustainable Development within Islamic Worldviews: A Systematic Literature Review. Sustainability, 14(12), 7300. https://doi.org/10.3390/su14127300

Ari, I., & Koç, M. (2021). Towards Sustainable Financing Models: A Proof-of-Concept for a Waqf-Based Alternative Financing Model for Renewable Energy Investments. Borsa Istanbul Review, 21(S1), S46–S56. https://doi.org/10.1016/j.bir.2021.03.007

Aysan, A. F., & Al-Saudi, H. A. (2023). Blockchain Technology and the Potential of Waqf (Islamic Endowment) Sector Revival. Journal of AI, Robotics & Workplace Automation, 2(4), 317–326. https://doi.org/10.69554/GGLD1077

Azrai Azaimi Ambrose, A. H., & Abdullah Asuhaimi, F. (2021). Cash Waqf Risk Management and Perpetuity Restriction Conundrum. ISRA International Journal of Islamic Finance, 13(2), 162–176. https://doi.org/10.1108/IJIF-12-2019-0187

Bank Syariah Indonesia. (2023). BSI Sinergi dengan BWI dan KUA, Akselerasi Potensi Wakaf Tunai Pengantin dalam Ekosistem Keuangan Islam. Retrieved from: https://www.bankbsi.co.id/news-update/berita/bsi-sinergi-dengan-bwi-dan-kua-akselerasi-potensi-wakaf-tunai-pengantin-dalam-ekosistem-keuangan-islam

Bank Syariah Indonesia. (2024). Gerakan Wakaf Uang: Kolaborasi BSI, Kemenag, & BWI Tingkatkan Kesejahteraan Masyarakat. Retrieved from: https://www.bankbsi.co.id/news-update/berita/gerakan-wakaf-uang-kolaborasi-bsi-kemenag-bwi-tingkatkan-kesejahteraan-masyarakat

Bonang, D., Ismail, S., & Sukmana, R. (2024). Empowering the Future of Cash Waqf Through Digitalisation: An Insight into the Philanthropic Intention of the Indonesian Muslim Community. ISRA International Journal of Islamic Finance, 16(S1), 94–117. https://doi.org/10.55188/ijif.v16iS1.586

Faturohman, T., Hassandi, I., & Yulianti. (2020). User acceptance of online waqf applications: Evidence from Indonesia. Journal of Islamic Monetary Economics and Finance, 6(3), 503–530. https://doi.org/10.21098/jimf.v6i3.1117

Hafandi, A., & Handayati, P. (2021). Is Cash Waqf Linked Sukuk (CWLS) Less Than Ideal According to Islamic Laws?. Estudios de Economía Aplicada, 39(12). https://doi.org/10.25115/eea.v39i12.6207

Hassama, A., & Ismail, N. A. (2023). Factors Influencing Thai Muslims' Willingness to Donate Cash Waqf to Religious Projects. ISRA International Journal of Islamic Finance, 15(4), 104–126. https://doi.org/10.55188/ijif.v15i4.518

Hassan, M. K., Aliyu, S., & Khan, T. (2023). Blended Islamic Social Finance-Microtakāful Model: A New Approach for Financial Inclusion. International Journal of Islamic Finance and Sustainable Development, 16(3), 150–165. https://doi.org/10.1108/IJIFSD-03-2023-0021

Hassan, M. K., Aliyu, S., & Khan, T. (2023). Blended Islamic social finance-microtakāful model: A new approach for financial inclusion. International Journal of Islamic Finance and Sustainable Development, 16(3), 150–165. https://doi.org/10.1108/IJIFSD-03-2023-0021

Hassan, M. K., Irsyan, N. M., & Muneeza, A. (2023). The Potential of Waqf-Blended Finance Using Crowdfunding in Indonesia. International Journal of Islamic Thought, 24(1), 72–99. https://doi.org/10.24035/ijit.24.2023.271

Hosen, M. N., Maulana, A., Farhand, M. Z., & Rahman, M. F. (2022). Evaluating the Fundraising Process of the World's First Cash Waqf-Linked Sukuk in Indonesia. Qudus International Journal of Islamic Studies, 10(1), 175–214. https://doi.org/10.21043/qijis.v10i1.8161

Huda, M., & Santoso, L. (2022). Implementation of Corporate Waqf Core Principles in the Development of Waqf in Indonesia. Academic Journal of Interdisciplinary Studies, 11(5), 114–124. https://doi.org/10.36941/ajis-2022-0129

Kachkar, O., Alfares, M., & Hersh, A. (2021). Contemporary Fiqh Issues in Cash Waqf: The Case of Waqf Sukuk. Darulfunun Ilahiyat, 32(2), 597–638. https://doi.org/10.26650/DI.2021.32.2.1026906

Karimah, D. A., Pamuncak, M. B., & Azhar, M. (2023). The Role of Waqf in Supporting Sustainable Development Goals: Linking Theory and Its Practices. Suhuf, 35(1), 1–16.

Khairuddin, N. K., & Ishak, M. S. I. (2023). Islamic Crowdfunding Model for Empowering Student Entrepreneurship Program in Malaysia. International Journal of Applied Economics, Finance and Accounting, 16(1), 56–65. https://doi.org/10.33094/ijaefa.v16i1.889

Khairuddin, N. S., & Ishak, M. S. I. (2023). Maqasid values and its application in donation-based crowdfunding practices. International Journal of Academic Research in Business and Social Sciences, 13(12), 1–15. https://doi.org/10.6007/IJARBSS/v13-i12/20077

Ladu, L., Koch, C., Ashari, P. A., Blind, K., & Castka, P. (2024). Technology Adoption and Digital Maturity in the Conformity Assessment Industry: Empirical Evidence from an International Study. Technology in Society, 77, 102564. https://doi.org/10.1016/j.techsoc.2024.102564

Laila, N., Ratnasari, R. T., Ismail, S., Mohd Hidzir, P. A., & Mahphoth, M. H. (2023). The intention of small and medium enterprises' owners to participate in waqf: The case of Malaysia and Indonesia. International Journal of Islamic and Middle Eastern Finance and Management, 16(3), 429–447. https://doi.org/10.1108/IMEFM-01-2022-0014

Laluddin, H., Haneef, S. S. S., Mohammad, M. T. H., & Rahman, M. P. (2021). Revisiting the Concept of Waqf: Its Maintenance, Issues and Challenges. International Journal of Islamic Thought, 20, 53–64. https://doi.org/10.24035/ijit.20.2021.210

Lastauskaitė, A., & Krusinskas, R. (2024). The Impact of Production Digitalization Investments on European Companies' Financial Performance. Economies, 12(6), 138. https://doi.org/10.3390/economies12060138

Lita, H. N. (2020). The Implementation of Waqf to Actualize Economic Justice Based on Islamic Law. Padjadjaran Journal of Law, 7(1), 1–18. https://doi.org/10.22304/pjih.v7n1.a1

Musthafa, A., Abdullah, L. B. H., & Pauzi, N. B. (2022). The Reasons for the Permission of Replacement of Waqf Assets (Istibdâl Waqf) in Indonesian Regulations: An Interpretative Study. Al-'Adalah, 19(2), 373–400. https://doi.org/10.24042/adalah.v19i2.14423

Musthafa, M., et al. (2022). Productive Waqf: Concepts and Its Impact on Improving Community Economy. Proceedings of the International Conference on Islamic Economics and Business, 1(1), 784–788.

Nasir, N. A. M., et al. (2023). Digitalisation of Islamic Finance in the Era of Industrial Revolution 5.0. International Journal of Economics and Financial Issues, 13(1), 1–10. https://doi.org/10.32479/ijefi.17480

Nasir, N. S. M., Ishak, M. S. I., & Jamaluddin, F. A. A. (2023). The Strategy of Islamic Crowdfunding Models in Supporting Single Mother Entrepreneurs in the Emerging Market: A Qualitative Analysis. Corporate and Business Strategy Review, 4(4), 89–97. https://doi.org/10.22495/cbsrv4i4art9

Nurdin, N., et al. (2023). Transformation of Cash Waqf Management in Indonesia: Insights into the Development of Digitalization. Review of Islamic Social Finance and Entrepreneurship, 3(1), 50–66. https://doi.org/10.20885/RISFE.vol3.iss1.art4

Oppusunggu, L. S., Suwarno, L., Lisdiono, P., & Djanegara, M. S. (2024). Quantitative analysis of the impact of electronic banking on the financial performance of rural banks in Indonesia. International Journal of Data and Network Science, 8(2), 1179–1186. https://doi.org/10.5267/j.ijdns.2023.11.016

Raja Adnan, R. A., Abdul Mutalib, M., & Ab Aziz, M. R. (2022). Factors necessary for effective corporate waqf management for Malaysian public healthcare. ISRA International Journal of Islamic Finance, 14(1), 73–88. https://doi.org/10.1108/IJIF-11-2019-0178

Rokhim, A., & Suratman, S. (2021). Relocation model of waqf land and buildings impacted by Sidoarjo mud blowout. Al-Risalah: Forum for Legal and Social Studies of Society, 21(2), 234–247. https://doi.org/10.30631/al-risalah.v21i2.805

Saad, A. Y. Q., Mohammed, M. O., Al-Jubari, I., & Ahamed, F. (2022). The prospect of waqf in financing small and medium enterprises (SMEs) in Yemen. Qudus International Journal of Islamic Studies, 10(2), 381–414. https://doi.org/10.21043/qijis.v10i2.9689

Skvarciany, V., & Jurevičienė, D. (2024). Comprehensive assessment of enterprise digital competitiveness. Prague Economic Papers, 33(2), 220–243. https://doi.org/10.18267/j.pep.857

Sudrajat, R., Ruchjana, B. N., Abdullah, A. S., & Budiarto, R. (2023). Literature review on the information system for digitization of royal history and waqf. International Journal of Data and Network Science, 7(4), 1839–1848. https://doi.org/10.5267/j.ijdns.2023.7.008

Tan, X., Cheng, S., & Liu, Y. (2024). Green digital finance and technology diffusion. Humanities and Social Sciences Communications, 11(1), Article 29. https://doi.org/10.1057/s41599-024-02902-z

Tok, E., Yesuf, A. J., & Mohamed, A. (2022). Sustainable development goals and Islamic social finance: From policy divide to policy coherence and convergence. Sustainability, 14(11), 6875. https://doi.org/10.3390/su14116875

Widiastuti, T., Robani, A., Sukmaningrum, P. S., Mawardi, I., Ningsih, S., Herianingrum, S., & Al-Mustofa, M. U. (2022). Integrating sustainable Islamic social finance: An analytical network process using the benefit opportunity cost risk (ANP BOCR) framework: The case of Indonesia. PLoS ONE, 17(5), e0269039. https://doi.org/10.1371/journal.pone.0269039

Wijaya, M. (2023). Optimizing the role of waqf in sustainable development through an integrated approach. STEI Ar-Risalah Journal, 5(1), 58–70.

Wijaya, R. P. (2023). Cash waqf linked DINFRA (CWL-FRA) as waqf innovation model integrated with infrastructure instrument for national economic recovery and sustainability. Malaysian Journal of Syariah and Law, 11(2), 330–343. https://doi.org/10.33102/mjsl.vol11no2.422

Downloads

Published

2025-05-08

How to Cite

Ilyas, R., & Iskandar. (2025). Implementation of Waqf Digitalization to Increase Public Interest in Waqf. TEC EMPRESARIAL, 20(1), 376–384. Retrieved from https://revistas.tec-ac.cr/index.php/tec_empresarial/article/view/558