Dinar: Jurnal Ekonomi dan Keuangan Islam
Vol 13, No 2: Agustus 2026

To What Extent Does Waqf Advance Sustainable Economic Growth? Evidence From Indonesia

Nor Nabilla Muhammad (UIN Sunan Kalijaga Yogyakarta)
Anniza Citra Prajasari (UIN Sunan Kalijaga Yogyakarta)
Izra Berakon (Sakarya University)



Article Info

Publish Date
20 Oct 2026

Abstract

This study aims to examine the potential factors of Waqf Productiveness in advancing the Islamic economy and supporting the achievement of the SDGs through sustainable and impactful economic development in Indonesia. Researchers highlight three gaps including theoretical, empirical, and methodological gaps, which further encourage researchers to formulate novelties on the role of economic empowerment of the ummah in driving sustainable economic growth. The urgency of conducting a quantitative analysis to identify the key factors of sustainable economic growth through Waqf is emphasized, considering that most previous studies on Waqf issues have been dominated by perception-based analysis. Moreover, this study employs the Panel Data Analysis from 33 provinces in Indonesia for the 2020–2023 period. Robustness test was employed to support strong results. The results show that the National Waqf Index (NWI) and MSMEs can enhance sustainable economic growth both in HDI and EG. Additionally, digital literacy and financial inclusion variables were found to be predictors of sustainable economic growth, rather than moderators. Further, this research contributes to increasing the potential of Waqf within the broader Islamic economic in supporting policy strategy sustainable, long-term economic resilience, and social welfare particularly in Indonesia.

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Journal Info

Abbrev

dinar

Publisher

Subject

Religion Social Sciences

Description

Dinar adalah jurnal ilmiah yang diterbitkan oleh Jurusan Ekonomi dan Keuangan Islam Universitas Trunojoyo Madura. Terbit pertama kali Agustus 2015. Jurnal ini memfokuskan pada kajian Ekonomi Islam dalam berbagai sudut pandang keilmuan. Redaksi mengundang para ahli dan segenap sivitas akademika untuk ...