IDEAS home Printed from https://ideas.repec.org/a/bcp/journl/v9y2025issue-6p2208-2222.html
   My bibliography  Save this article

Integrating Waqf and Islamic Social Finance for Inclusive Development: Frameworks, Governance and Impact Evaluation

Author

Listed:
  • Mustapahayuddin Abdul Khalim

    (Islamic Studies Department, Centre of General and Co-curricular, University of Tun Hussein Onn Malaysia, Johor, Malaysia)

  • Wan Zahari Bin Wan Yusoff

    (Department of Real Estate Management, Faculty of Technology Management and Business, University of Tun Hussein Onn Malaysia, Johor, Malaysia)

Abstract

The study additionally investigates the linkages between waqf and Islamic financial instruments, including zakat and microfinance, in promoting inclusive development. A systematic literature study and case studies from several nations (Malaysia, Indonesia, Turkey, Singapore, to be determined). This research has revealed the emergence of alternate models, such as cash waqf, as well as governance problems, including non-uniform guidelines and structured effect evaluation. The research findings reveal that cash waqf increases enterprises’ income by 12% in Indonesia; yet, due to insufficient transparency, stakeholders lose their faith. The study suggests that the country must implement a cohesive regulatory framework, a waqf impact index, and digital platforms to enhance its efficiency. hence facilitating the achievement of the Sustainable Development Goals within the Islamic finance framework.

Suggested Citation

  • Mustapahayuddin Abdul Khalim & Wan Zahari Bin Wan Yusoff, 2025. "Integrating Waqf and Islamic Social Finance for Inclusive Development: Frameworks, Governance and Impact Evaluation," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(6), pages 2208-2222, June.
    • Handle: RePEc:bcp:journl:v:9:y:2025:issue-6:p:2208-2222
    as

    Download full text from publisher

    File URL: https://www.rsisinternational.org/journals/ijriss/Digital-Library/volume-9-issue-6/2208-2222.pdf
    Download Restriction: no
    File URL: https://rsisinternational.org/journals/ijriss/articles/integrating-waqf-and-islamic-social-finance-for-inclusive-development-frameworks-governance-and-impact-evaluation/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Mohammad Abdullah, 2018. "Waqf, Sustainable Development Goals (SDGs) and maqasid al-shariah," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 45(1), pages 158-172, January.
    2. Carè, R. & Fatima, R. & Cerciello, M. & Taddeo, S., 2025. "Exploring the landscape of green crowdfunding: Trends, themes, and insights from a bibliometric review," Finance Research Letters, Elsevier, vol. 77(C).
    3. Ghlamallah, Ezzedine & Alexakis, Christos & Dowling, Michael & Piepenbrink, Anke, 2021. "The topics of Islamic economics and finance research," International Review of Economics & Finance, Elsevier, vol. 75(C), pages 145-160.
    4. Ghlamallah, E. & C. Alexakis & M. Dowling & Piepenbrink, A., 2021. "The topics of Islamic economics and finance research," Post-Print hal-03323676, HAL.
    5. Ezzedine Ghlamallah & Christos Alexakis & Michael Dowling & Anke Piepenbrink, 2021. "The topics of Islamic economics and finance research," Post-Print hal-03511406, HAL.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Joanna Goard & Mohammed AbaOud, 2024. "Pricing of Al-Urbun and a Class of Al-Istijrar Islamic Contracts under the Black–Scholes Framework," Mathematics, MDPI, vol. 12(2), pages 1-11, January.
    2. Luo, Zhenxiang & Zhou, Xiaolin, 2025. "Environmental courts, environmental investment, and corporate carbon emissions," Finance Research Letters, Elsevier, vol. 75(C).
    3. Daniel K. Maduku & Steven Mbeya, 2024. "Understanding family takaful purchase behaviour: the roles of religious obligation and gender," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(2), pages 440-458, June.
    4. Ghaemi Asl, Mahdi & Nasr Isfahani, Mohammad & Mohammadi, Mahsa, 2024. "How does the mineral resource exploitation sector interact with Islamic and traditional ventures? Insights amidst the impact of green reforms and state-of-the-art technological advancements," Resources Policy, Elsevier, vol. 98(C).
    5. Zhang, Shan & Wang, Yu, 2024. "Executive legal background and quality of corporate accounting disclosure," International Review of Economics & Finance, Elsevier, vol. 96(PA).
    6. Nor Hanani Binti Ismail, 2018. "Validity Measurement of WAQF Related Research in Scopus Indexed Journals: A Rabbani Approach Analysis," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 376-381:6.
    7. Hanim Misbah & Fuadah Johari & Fauzias Mat Nor & Hasnah Haron & Syahidawati Shahwan & Zurina Shafii, 2022. "Sustainable Development, Regional Planning, and Information Management as an Evolving Theme in Waqf Research: A Bibliometric Analysis," Sustainability, MDPI, vol. 14(21), pages 1-25, October.
    8. Odeh Al-Jayyousi & Evren Tok & Shereeza Mohamed Saniff & Wan Norhaniza Wan Hasan & Noora Abdulla Janahi & Abdurahman J. Yesuf, 2022. "Re-Thinking Sustainable Development within Islamic Worldviews: A Systematic Literature Review," Sustainability, MDPI, vol. 14(12), pages 1-26, June.
    9. Md. Golam Morshed & Md. Ferdausur Rahman & Md Abdul Bashir & Rokeya Begum & Hishamuddin Bin Ismail, 2025. "The Role of Good Governance Regarding Waqf in Achieving Sustainable Development: A Case of Bangladesh," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(5), pages 828-841, May.
    10. Sukriah Ismail & Marina Abu Bakar & Hanizan Shaker Hussain & Mohamad Saufee Anuar & Md Nasri Ali & Afiffudin Mohammed Noor, 2025. "Are Agency Managers Driving Waqf-Takaful Death Compensation Product Success?," Business and Economic Research, Macrothink Institute, vol. 15(2), pages 40-61, December.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bcp:journl:v:9:y:2025:issue-6:p:2208-2222. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Pawan Verma (email available below). General contact details of provider: https://rsisinternational.org/journals/ijriss/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.