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All Journal Review of Islamic Social Finance and Entrepreneurship
Aisyah, Fitriyah Siti
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Religion Economics, Econometrics & Finance Social Sciences

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Green waqf crowdfunding model for SDGs: A fiqh al-bi’ah legal framework Wibowo, Rizky; Zaman, Akhmad Roja Badrus; Ihsanillah, Muhammad Mu’tamid; Aisyah, Fitriyah Siti
Review of Islamic Social Finance and Entrepreneurship Volume 5 Issue 1, 2026
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol5.iss1.art7

Abstract

Purpose – This study investigates the construction of an integrated green waqf crowdfunding model grounded in fiqh al-bi’ah (Islamic environmental jurisprudence) to accelerate the implementation of sustainable development goals (SDGs) in Indonesia.Methodology – This study employs a descriptive-qualitative method with a normative-juridical approach. It utilizes maqasid al-Sharia and agency theory to systematically analyze secondary legal materials and extract ecological parameters (hifz al-bi’ah) from classical and contemporary fiqh.Findings – This study ’s findings suggest that current Islamic social finance models exhibit a social-humanitarian bias and treat Sharia compliance merely as a formal contractual requirement, thereby risking greenwashing. To resolve this, the study proposes a novel tripartite model–collection, management, and distribution–that technically embeds fiqh al-bi’ah as a mandatory screening protocol to ensure substantive ecological justice.Implications – This research is useful for improving the regulatory framework and governance of digital waqf platforms. Practically, it mitigates agency problems through blockchain-verified eco-impact reporting and recommends an inter-institutional joint ministerial decree (SKB) to establish a binding green waqf taxonomy.Originality – This study contributes to the global discourse on Islamic social entrepreneurship by synthesizing environmental ethics with fintech architecture. It transforms fiqh al-bi’ah from a mere moral appeal into a verifiable operational algorithm.
Co-Authors Ihsanillah, Muhammad Mu’tamid Wibowo, Rizky zaman, akhmad roja badrus