Smart Waqf Governance: Leveraging Blockchain, AI, and Fintech for Science and Technology Endowments in the Digital Era
DOI:
https://doi.org/10.61159/tahnmc96Keywords:
Smart Waqf Governance, Blockchain, Artificial Intelligence, Fintech, Science & Technology Endowment, SWGF, Maqasid Shariah, SDGS, PRISMAAbstract
The global waqf (Islamic endowment) asset potential is estimated at USD 1 trillion, yet the vast majority remains underutilized due to weak governance structures, limited transparency, and minimal adoption of digital technology. This paper develops the Smart Waqf Governance Framework (SWGF) an integrative framework leveraging blockchain, artificial intelligence (AI), and Islamic fintech to optimize the management of waqf endowment funds, specifically for science and technology (S&T) research funding in the digital era. Employing a mixed-methods approach comprising a PRISMA-based Systematic Literature Review (SLR) of 38 peer-reviewed articles (2021–2025), comparative case studies across Malaysia, Indonesia, the UAE, and Saudi Arabia, and a Delphi Method validation panel of Shariah scholars, technologists, and regulators, this study identifies four key technology pillars: (1) blockchain for accountability through immutable distributed ledgers; (2) AI for risk profiling and predictive asset valuation; (3) smart contracts for automated Shariah-compliant fund distribution; and (4) digital fintech platforms to broaden global donation accessibility. Findings indicate that technology integration has the potential to improve waqf operational efficiency, expand younger donor participation (under-35), and align waqf fund allocation with UN Sustainable Development Goals 4, 9, and 10 (Maretaniandini et al., 2025; Bonang, 2024; Elmahgop et al., 2025). The resulting SWGF provides actionable guidance for nazhirs (waqf managers), regulators, and Islamic science-technology institutions in designing a transparent, Shariah-compliant, and sustainable smart waqf ecosystem for contemporary endowment management.
References
Abimayu, M. F., Arrisalah, S., & Sumatra, W. (2024). Challenges and Strategies for Productive Waqf Management : An Analysis of Muhammadiyah ’ s MPW and its Role in Community Economic Development. 4(2), 121–130. https://doi.org/10.46870/milkiyah.v4i2.1684
Al-saudi, H. A. A. (2024). Blockchain Technology and the Potential of Waqf Revival.
Almaqtari, F. A., Yahya, A. T., Al-maskari, N., Farhan, N. H. S., & Al-aamri, A. Y. Y. (2025). Assessing the Integrated Role of IT Governance , Fintech , and Blockchain in Enhancing Sustainability Performance and Mitigating Organizational Risk. 1–27.
Amir, W., & Wan, A. (2025). Integrating Islamic Fintech and Smart Contracts for Enhancing Governance in Waqf Asset Management. 12(09).
Anwar, I. F., Rahayu, S. B., Yusoff, Y., Faizah, N., & Lajin, M. (2024). International Journal Of Trends In The Sustainability of Cash Waqf Using Blockchain Technology : a Conceptual Study. 5(2), 70–82.
Awalluddin, M. A., Maznorbalia, A. S., & Arshad, M. R. (2024). Revolutionizing Waqf Management : Harnessing the Fourth Industrial Revolution for Waqf 4 . 0 Transformation. VIII(2454), 2270–2283. https://doi.org/10.47772/IJRISS
Bhumichai, D., Smiliotopoulos, C., Benton, R., Kambourakis, G., & Damopoulos, D. (2024). The Convergence of Artificial Intelligence and Blockchain : The State of Play and the Road Ahead. 1–32.
Bonang, D. (2024). Empowering The Future Of Cash Waqf Through Digitalisation : An Insight Into The Philanthropic Intention Of The Indonesian Muslim Community. 16(1), 94–117.
Elmahgop, F., Alsulami, F., Gasmelsied, M., Mohammed, A., Abdel-gadir, S., & Elhassan, T. (2025). The Socio-Economic Impacts of Waqf Investment Funds as a Model for Sustainable Financing in Saudi Arabia.
Hudaefi, F. A., Hassan, M. K., & Abduh, M. (2023). Exploring the development of Islamic fintech ecosystem in Indonesia: a text analytics. Qualitative Research in Financial Markets, 15(3), 514–533. https://doi.org/10.1108/QRFM-04-2022-0058
Ibrahim, S. (2023). Potential Blockchain Applications in Waqf for Sustainability: A Middle East and Asia Perspective. Islamiyyat, 45, 47–64. https://doi.org/10.17576/islamiyyat-2023-4502-04
Ilmiah, J., & Islam, E. (2024). Implementasi Model Pengelolaan Wakaf Berbasis Digital dalam Meningkatkan Tujuan Pembangunan Berkelanjutan ( SDG ’ S ). 10(01), 887–894.
Jaafar, A. B., Ashrof, M., & Yaakob, Z. (2025). Innovative Approaches in Waqf Management and Development : Enhancing Governance and Socio-Economic Sustainability through Islamic Social Finance and Technological Integration. IX(2454), 5623–5629. https://doi.org/10.47772/IJRISS
Kaharuddin, K. (2026). Integrating blockchain technology into waqf governance : Enhancing transparency and accountability in Sharia finance for achieving SDGs. Afifah 2021, 501–506. https://doi.org/10.1201/9781003645542-80
Kamaruzaman, N. R., Shahrul, M., & Ishak, I. (2023). WAQF INSTITUTIONS : A Systematic Literature Review On Governance , Financial Models , And Socio-Economic Impact In Islamic Social Finance. 5(18), 134–151. https://doi.org/10.35631/AIJBES.518014
Karim, S., Zadjali, F. Al, Rawahi, M. Al, & Hazik, M. (2025). Business trends & challenges in Islamic FinTech : A systematic. 1–26.
Khalim, M. A., Masruri, M., Zahari, W., Yusoff, W., & Hashim, M. S. (2025). Integration of Waqf and Modern Financial Instruments for Evaluating Their Impact on Social and Economic Development. IX(2454), 4313–4325. https://doi.org/10.47772/IJRISS
Laili, N. H., Khairil, K. F., Masruki, R., & Sains, U. (2023). Review of Blockchain Technology in Managing Waqf ( Endowment ). 23(20).
Lubis, S., Ahmad, J., & Jovita-olvez, H. D. (2025). Synergizing AI and blockchain : a bibliometric analysis of their potential for transforming e-governance in smart cities. April, 1–20. https://doi.org/10.3389/frsc.2025.1553816
Maretaniandini, S. T., Hilmiyah, F., Akbar, S., & Hamid, A. A. (2025). Journal of Islamic Economic Laws VIII(1) 210-236 (2025). 8(1), 210–236. https://doi.org/10.23917/jisel.v8i01.8518
Matthew, J., Joanne, E., Patrick, M., Page, M. J., Mckenzie, J. E., Bossuyt, P. M., Boutron, I., Hoffmann, T. C., Mulrow, C. D., Shamseer, L., Tetzlaff, J. M., Akl, E. A., Brennan, S. E., Chou, R., Glanville, J., Grimshaw, J. M., Mayo-wilson, E., Mcdonald, S., Mcguinness, L. A., … Moher, D. (2021). Article : The PRISMA 2020 statement : An updated guideline for reporting systematic reviews.
Mazura, N., Mohaiyadin, H., Aman, A., & Palil, M. R. (2022). Addressing Accountability And Transparency Challenges In Waqf Management Using Blockchain Technology. 8, 53–80.
Megat, P. A., Al-Shaghdari, F., Bin Ngah, B., & Abdelfattah, S. S. (2024). Assessing the predictive benefits of Waqftech smart contracts on corporate waqf crowdfunding among Malaysian enterprises. Journal of Islamic Marketing, 15(5), 1303–1325. https://doi.org/10.1108/JIMA-08-2023-0262
Meskini, F. Z., & Aboulaich, R. (2024). Insurance Based on Waqf and Blockchain Technology : A Strong Social Impact & Efficiency. 21, 741–752. https://doi.org/10.37394/23207.2024.21.62
Muhammad, A. A., Ardo, A. M., Idriss, I. D., & Jajere, M. (2025). Waqf as an Islamic Endowment : A Solution for Improving Educational Attainment in Northern Nigerian Communities. 4(1), 44–50.
Musyirah, W., Ismail, W., Misba, N. T., Amyra, N., & Isa, M. (2025). Reimagining Waqf in the Digital Age : A Framework for Smart Waqf Governance Through Emerging Technologies. IX(2454), 4704–4714. https://doi.org/10.47772/IJRISS
Raihana, S., Ahmad, A., Ishak, N., Fadly, A., & Rasedee, N. (2025). Revolutionizing Financial Inclusion : A Blockchain-AI Model for Zakat and Waqf Management in Malaysia and Beyond . 173–193.
Ramadhan, J., & Hayatullah, I. K. (2025). importance of utilizing waqf assets for public purposes , such as education , health , and. 3(1), 29–54.
Sukmana, R. (2020). Heliyon Critical assessment of Islamic endowment funds
( Waqf) literature : lesson for government and future directions. Heliyon, 6(10), e05074. https://doi.org/10.1016/j.heliyon.2020.e05074
11.gif)
