Utama Hasibuan, Hans Aulia and Mohd Thas Thaker, Mohamed Asmy and Khaliq, Ahmad (2026) Cash waqf model for infrastructure funding in Indonesia: a conceptual paper. Malaysian Journal of Social Sciences and Humanities, 11 (3). pp. 1-20. E-ISSN 2504-8562
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Abstract
Infrastructure development has been widely believed to promote economic growth and reduce economic inequality in the country. However, it requires enormous financial resources that governments are not always able to provide. This issue is particularly relevant to Indonesia, where the government’s efforts to develop infrastructure are constrained by a persistent budget deficit that has been encountered since 1998. This paper proposes cash waqf as an alternative funding source for infrastructure development, as it has served as a private provider of infrastructure and other public goods for a long time. The success of cash waqf, however, requires an effective and appropriate model to support infrastructure development. This paper seeks to address the research gap by proposing a cash waqf model that clarifies the roles and responsibilities of all parties involved to leverage cash waqf to fund the infrastructure development in Indonesia. It is a conceptual paper, and the design of the paper used in this study is adopting theory adaptation, as explained by Jaakkola (2020). A Systematic Literature Review (SLR) of articles as well as conference papers is conducted to systematically review the previous studies regarding the cash waqf model. This study’s main contribution is its new way of creating a cash waqf model that not only helps to fund infrastructure but also tackles the existing issues that have caused low cash waqf collection in Indonesia, like the shortage of professional nazhirs, lack of incentives, poor understanding and awareness, and issues with transparency, accountability, and public trust
| Item Type: | Article (Journal) |
|---|---|
| Uncontrolled Keywords: | Cash waqf model, Cash waqf for infrastructure, Infrastructure waqf |
| Subjects: | BPH Islamic Economics H Social Sciences > H Social Sciences (General) |
| Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): | Kulliyyah of Economics and Management Sciences > Department of Economics |
| Depositing User: | Dr Mohamed Asmy Bin Mohd Thas Thaker |
| Date Deposited: | 15 Apr 2026 11:52 |
| Last Modified: | 15 Apr 2026 11:52 |
| Queue Number: | 2026-04-Q2827 |
| URI: | http://irep.iium.edu.my/id/eprint/128303 |
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