Afada, Abik
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Peran Bank Wakaf dalam Penguatan Ekonomi Islam: Sebuah Kerangka Konseptual Afada, Abik; Budiyono
Al-Awqaf: Jurnal Wakaf dan Ekonomi Islam Vol 17 No 2 (2024): Al-Awqaf: Jurnal Wakaf dan Ekonomi Islam
Publisher : Badan Wakaf Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47411/al-awqaf.v17i2.267

Abstract

Abstract: This paper explores the concept and potential role of a Waqf Bank as a key institution in supporting the Islamic economy. By leveraging the traditional Islamic endowment system (waqf), a Waqf Bank could serve as a sustainable financial mechanism aimed at empowering Small and Medium Enterprises (SMEs), alleviating poverty, and promoting socio-economic development in Muslim-majority countries. This study employs a conceptual approach, drawing from both classical and contemporary literature on waqf and Islamic banking. It proposes a model where Waqf Bank operations align with Sharia principles while addressing modern economic challenges, such as financial inclusion and social welfare improvement. The findings suggest that a well-structured Waqf Bank has the potential to fill existing gaps in Islamic finance, providing a strategic means for wealth redistribution and long-term economic sustainability. The paper also highlights potential challenges in implementing such a bank, including legal, regulatory, and operational concerns, and offers recommendations for future research on optimizing waqf-based financial institutions.
Peran Bank Wakaf dalam Penguatan Ekonomi Islam: Sebuah Kerangka Konseptual Afada, Abik; Budiyono
Al-Awqaf: Jurnal Wakaf dan Ekonomi Islam Vol. 17 No. 2 (2024): Al-Awqaf: Jurnal Wakaf dan Ekonomi Islam
Publisher : Badan Wakaf Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47411/al-awqaf.v17i2.267

Abstract

Abstract: This paper explores the concept and potential role of a Waqf Bank as a key institution in supporting the Islamic economy. By leveraging the traditional Islamic endowment system (waqf), a Waqf Bank could serve as a sustainable financial mechanism aimed at empowering Small and Medium Enterprises (SMEs), alleviating poverty, and promoting socio-economic development in Muslim-majority countries. This study employs a conceptual approach, drawing from both classical and contemporary literature on waqf and Islamic banking. It proposes a model where Waqf Bank operations align with Sharia principles while addressing modern economic challenges, such as financial inclusion and social welfare improvement. The findings suggest that a well-structured Waqf Bank has the potential to fill existing gaps in Islamic finance, providing a strategic means for wealth redistribution and long-term economic sustainability. The paper also highlights potential challenges in implementing such a bank, including legal, regulatory, and operational concerns, and offers recommendations for future research on optimizing waqf-based financial institutions.