Development of sustainable Tamanu industry in Indonesia based on the green waqf model through sharia crowdfunding platforms

M. Khoirul Fikri (Department of Sharia Economics, Faculty of Islamic Economics and Business UIN K.H. Abdurrahman Wahid Pekalongan, Pekalongan, Indonesia)
Rizky Andrean (Department of Sharia Economics, Faculty of Islamic Economics and Business UIN K.H. Abdurrahman Wahid Pekalongan, Pekalongan, Indonesia)

Review of Islamic Social Finance and Entrepreneurship
Volume 2 Issue 1, 2023

Purpose – This study aims to describe how the green waqf-based model through sharia crowdfunding platform for sustainable Tamanu industrial development in Indonesia. The Tamanu industry is a sustainable industry engaged in the agricultural sector (agro-based industry) based on the utilization of Tamanu plants (Calophyllum inophyllum), which can consist of the plantation industry, biofuel industry and pharmaceutical and cosmetic industry.Methodology – This research uses a descriptive qualitative approach in the form of a literature study of various literature relevant to the research topic. This research is a type of development research to formulate a model to answer the existing problems on how to find funding solutions for developing the Tamanu industry in Indonesia.Findings – A green waqf-based financing model through a Sharia crowdfunding platform can be a solution to financing the sustainable Tamanu industry.Implications – Through this model, the potential of existing waqf can be further maximized to impact the community's economic progress and environmental sustainability through developing a sustainable Tamanu industry.Originality – This model is an elaboration between studies on renewable energy, Islamic philanthropy, Sharia financial technology, and green industry to support achieving sustainable development goals in Indonesia.