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Contact Name
Fajar Sodik
Contact Email
jbmibanking@gmail.com
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+6285219943799
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jbmibanking@gmail.com
Editorial Address
Fakultas Ekonomi dan Bisnis Islam, UIN Sunan Kalijaga Yogyakarta Jl. Laksda Adisucipto, Papringan, Caturtunggal, Depok, Sleman, DI Yogyakarta 55281, Indonesia
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Daerah istimewa yogyakarta
INDONESIA
Journal of Business Management and Islamic Banking
ISSN : ""     EISSN : 29642787     DOI : 10.14421/jbmib
Core Subject : Economy, Education,
Journal of Business Management and Islamic Banking (JBMIB) is an international journal which is published by the Department of Islamic Banking, Faculty of Islamic Economics and Business, State Islamic University (UIN) Sunan Kalijaga. This journal is designed to provide a forum for researchers/academicians and also practitioners who are interested in knowledge and in discussing ideas, issues, and challenges in the field of Islamic economics and business, Islamic finance, Islamic banking, management human resources and marketing management. In addition, this journal can contribute to solve the problem of the ummah, gap between theory and practice, etc.
Articles 61 Documents
Institutional Governance and the Development Financing Role of Productive Waqf: Evidence from Indonesia Khurun'in Zahro'; Mufti Afif; Syahruddin; Zainab binti Aman
Journal of Business Management and Islamic Banking Vol.5 No.2 (2026)
Publisher : UIN Sunan Kalijaga Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/jbmib.2026.0502-02

Abstract

Purpose — This study examines how institutional governance enables productive waqf to function as a development financing instrument in Indonesia. Building on institutional economics, it argues that waqf productivity depends on governance quality rather than asset availability alone. Design/methodology/approach: This qualitative study uses a systematic literature review and document analysis of academic publications, regulatory documents, institutional reports, financial statements, and waqf management documents. An illustrative Dompet Dhuafa case enriches the empirical context. Five governance dimensions were analyzed: transparency, accountability, institutional capacity, regulatory support, and nazhir professionalism, using thematic analysis and source triangulation. Findings: Institutional governance emerges as a primary mechanism linking waqf asset management to development financing. The five governance dimensions strengthen information access, oversight, compliance, resource management, and asset productivity. Digital governance reinforces these mechanisms through improved information access, transaction traceability, monitoring, and accountability. Comparative lessons from Malaysia and Türkiye emphasize regulatory coordination, professional management, administrative standardization, and institutional integration. Originality/value: This study positions institutional governance as a primary mechanism transforming waqf assets into development financing by integrating five governance dimensions within an institutional economics framework and positioning digital governance as a reinforcing mechanism. Research implication/limitation: Strengthening productive waqf requires clearer institutional roles, stronger regulatory supervision, standardized reporting, professional naẓīr development, and integration with Islamic financial institutions and digital systems. Reliance on secondary data and an illustrative case limits generalizability and causal inference.