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All Journal Thariqah Ilmiah ; Jurnal ilmu-ilmu kependidikan & Bahasa Arab Akademika : Jurnal Pemikiran Islam Dikdimas : Jurnal Pengabdian Kepada Masyarakat IJOEM: Indonesian Journal of Elearning and Multimedia Finger : Jurnal Ilmiah Teknologi Pendidikan Al-Imam : Journal on Islamic Studies, Civilization And Learning Societies Aktual : Jurnal Pengabdian Kepada Masyarakat Al-Jawhar : Journal of Arabic Language Indonesian Journal for Islamic Studies Journal of Regional Development and Technology Initiatives Perwakilan: Journal of Good Governance, Diplomacy, Customary Institutionalization and Social Networks Journal of English as a Foreign Language Teaching and Research (JEFLTR) Insani: Jurnal Pranata Sosial Hukum Islam
Adamu Abubakar Muhammad
Federal University of Kashere, Gombe State, Nigeria
Religion Agriculture, Biological Sciences & Forestry Arts Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Environmental Science Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Nursing Public Health Social Sciences Other

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Moral Economy and Islamic Ethics: Re-examining Waqf in the Context of Modern Capitalism Adamu Abubakar Muhammad; Shafa'at Ahmad Aliyu; Ikilima Abubakar Shariff; Rabi Shehu Dalhatu
Perwakilan: Journal of Good Governance, Diplomacy, Customary Institutionalization and Social Networks Vol. 3 No. 2 (2025)
Publisher : IDRIS Darulfunun Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58764/j.prwkl.2025.3.135

Abstract

This study investigates the relevance, transformation, and potential revival of waqf (Islamic endowment) as a foundation for moral economy and Islamic ethics in the context of modern capitalism. While traditional Islamic moral economics focuses on equitable wealth distribution and social welfare, current capitalist institutions frequently favor profit maximization, financialization, and market efficiency. This study looks critically at how waqf has historically reduced socioeconomic gaps and how its ideas might be used in modern economic systems to alleviate poverty, social exclusion, and market failures. The paper proposes a normative framework for incorporating waqf into ethical economic strategies that reconcile moral imperatives with capitalist realities, based on doctrinal analysis of Islamic legal texts, a review of contemporary scholarship on moral economy theory, and case studies of modern waqf initiatives. The findings suggest that waqf can serve as a long-term tool for community investment, social safety nets, and value-based economic resilience if legal reform, governance innovation, and ethical institutional frameworks are achieved. The article concludes by advocating policy and institutional options for reviving waqf within global economic systems while maintaining Islamic ethical integrity and modern market efficiency.
Co-Authors Abdullah A. Afifi Abdullah A. Afifi Abdullah A. Afifi Adam Muhammad Ardo Adam Muhammad Ardo Adam Muhammad Ardo Agung Heru Setiadi Ahmad Babikir Aishatu Attahiru Bappah Anas Adam Muhammad Asmau Muhammad Saad Babangida Bala Bashir Liman Mashema Bello Muhammad Jajere Bilkisu Mohammed Ovosi Bilyaminu Yusuf Fandi Ahmad Ferly Ardhy Ganjar Yusup Sofian Garba Sa'adu Kawu Haerunnisa Hamza Abubakar Hussaini Huma Khan Ibrahim Abubakar Muhammad Ibrahim Isa Bello Ikilima Abubakar Shariff Ismail Iliyasu Danladi Juwairiyah Siregar Khoirotul Imro'ah Qohar Lalu Hendri Nuriskandar Latifatul Khiyaroh Mansir Hashimu Maryam Babani Muhammad Mohammed Afolabi Idayat Muhammad Bello Adam Muhammad Romi Muhammad Uba Babayo Muhammadu Sani Abubakar Namungo Hamzah Nida Ul Khasanah Nur Aminudin Panji Bintoro Rabi Shehu Dalhatu Rabi Yusuf Adamu Ratnasari Ratnasari Shaaban Idris Abdullahi Shafa'at Ahmad Aliyu Shafa’at Ahmad Aliyu Shafa’at Ahmad Aliyu Shafa’atu Ahmad Aliyu Syamsul Alam Usman Usman Yusuf Isa Sawaba Zulaihat Mohammed Yakubu Zuwaira Jibril Muhammad Zuwaira Jibril Muhammad