<![CDATA[Waqf is one of the instruments of Islamic philanthropy that encompasses religious, social, and economic dimensions. In classical fiqh, the concept of waqf is largely based on the principle of preserving the principal asset while utilizing its benefits on a sustainable basis. However, Muslim scholars have held differing views regarding the ownership of waqf assets, the types of assets that may be endowed, the perpetuity of waqf, and the forms of its utilization. This study employs a library research method using a qualitative-descriptive approach and critical-comparative analysis. The research data were obtained from relevant literature, including classical fiqh texts, works of contemporary Islamic scholars, scholarly journal articles, books, religious fatwas, and Indonesian laws and regulations concerning waqf. The analysis was conducted by comparing the conceptual framework of waqf in classical fiqh with the development of contemporary waqf thought and practices, particularly from the perspectives of maqasid al-shari‘ah, maslahah, and the sustainability of benefits. The findings of this study emphasize that waqf in the contemporary era should shift from a paradigm that focuses solely on assets toward a paradigm that emphasizes the sustainability of benefits, productivity, professional management, and socio-economic welfare. In this way, waqf can remain relevant as an instrument for community empowerment amid changing social and economic conditions. These findings are consistent with contemporary studies that view the development of waqf fiqh as a form of ijtihad aimed at enhancing the productivity of waqf assets while remaining oriented toward the principles of maqasid al-shari‘ah.]]>
