INVEST : Jurnal Inovasi Bisnis dan Akuntansi
Vol. 7 No. 2 (2026): INVEST : Jurnal Inovasi Bisnis dan Akuntansi

Digital Transformation of Cash Waqf in Higher Education: A Web-Based Governance Model

Nurnasrina Nurnasrina (Universitas Islam Negeri Sultan Syarif Kasim Riau)
Haniah Lubis (Universitas Islam Negeri Sultan Syarif Kasim Riau)
P. Adiyes Putra (Institut Agama Islam Diniyyah Pekanbaru)
Tatang Astaruddin (Universitas Islam Negeri Sunan Gunung Djati Bandung)
Ahmad Faizol bin Ismail (Universiti Sultan Zainal Abidin)
Irsya Putri Awana (Universiti Sultan Zainal Abidin)



Article Info

Publish Date
03 Sep 2026

Abstract

This study aims to develop a web-based cash waqf governance model for higher education institutions in Indonesia to strengthen transparency, accountability, and the sustainability of higher education financing. Although studies on cash waqf have developed from legal, philanthropic, and institutional perspectives, research on integrating digital technology into the governance of cash waqf in higher education remains limited. This study employs a qualitative approach using an exploratory multiple-case study design involving four public higher education institutions: IPB University, Universitas Airlangga, Institut Teknologi Sepuluh Nopember, and Universitas Islam Negeri Sumatera Utara. Data were obtained through in-depth interviews, documentary studies, and observations of digital platforms used by waqf managers. They were analyzed using the Miles, Huberman, and SaldaƱa interactive model through within-case and cross-case analysis. The findings show that cash waqf management in higher education has shifted from conventional philanthropic practices toward productive, digitally based management, as demonstrated by IPB, which manages funds of up to IDR 360 billion, and ITS, which manages IDR 153 billion. However, the level of development varies across institutions and is influenced by institutional legality, leadership support, alum networks, organizational capacity, fundraising strategies, and accountability mechanisms. This study produces a web-based cash waqf governance model comprising five key dimensions: adaptive institutional arrangements, digital fundraising, productive asset management, transparent reporting, and stakeholder engagement. The model contributes new insights by integrating digital technology as governance infrastructure rather than merely as a fundraising tool, and demonstrates that an integrated web architecture is sufficient to support good waqf governance. In practice, the model can serve as a guideline for higher education institutions, nazhirs, and policymakers to develop a more transparent, productive, and sustainable cash waqf ecosystem, in line with SDG 4 (Quality Education).

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Journal Info

Abbrev

invest

Publisher

Subject

Economics, Econometrics & Finance

Description

INVEST : Jurnal Inovasi Bisnis dan Akuntansi is published by Lembaga Riset dan Inovasi Al-Matani as an information and communication media for practitioners, researchers and academics who are interested in the field of Business Management and Accounting Studies. First publish in September 2020. The ...