Title: Waqf Development Models for Sustainable Development Goals: An Analytic Network Process Approach

Authors:

1. Aam Slamet Rusydiana
2. Raditya Sukmana
3. Nisful Laila
4. Ririn Riani

Department: Department of Sharia Economics

Journal Name: International Journal of Islamic Finance and Sustainable Development Kinds of Journal: Scopus Q4

Keywords: Waqf, SDG’s, ANP, Islamic Social Finance

Abstract:

Purpose — This study aims to propose an alternative waqf model aligned with the maqāṣid al- Sharīʿah (goals of Islamic law) that can contribute to achieving the Sustainable Development Goals (SDGs). The model seeks to address the gap in current waqf practices and provide a sustainable framework for fulfilling both social and religious obligations. Design/Methodology/Approach — The research employs the Analytic Network Process (ANP) methodology, utilising expert and practitioner opinions to design and evaluate alternative waqf models. This approach ensures that the decision-making process is grounded in practical insights and aligns with Islamic principles. Findings — The results indicate that, among the SDGs’ criteria, the social pillar holds the highest priority. From the perspective of maqāṣid al- Sharīʿah, the preservation of religion (dīn) is the most important factor in ensuring the fulfillment of religious obligations. Consequently, the study identifies the synthesis of waqf and microfinance as the most viable alternative waqf model to support both the SDGs and Islamic objectives. Originality/Value — This study offers a novel integration of the waqf concept with maqāṣid al-Sharīʿah and the SDGs, addressing the practical gap between Islamic endowment practices and modern sustainability goals. It provides an innovative approach by combining waqf with microfinance as a viable alternative model, which has not been extensively explored in previous research. Research Limitations — This study is limited by the scope of expert opinions and the geographical context of the research, which may influence the generalisability of the findings. Further research could explore the application of this model in diverse regions and contexts to validate its effectiveness. Practical Implications — The proposed waqf model provides a strategic framework for policymakers, waqf institutions, and financial practitioners to implement waqf in a way that contributes to both social welfare and religious preservation. This model can be applied in designing waqf-based microfinance programmes, potentially improving financial inclusion and economic development in Muslim- majority regions.

For details: https://doi.org/10.55188/ijifsd.v17i1.929