The Digital Transformation of Islamic Philanthropy through Blockchain-Based Waqf and Its Implications for Classical Waqf Law
Keywords:
Waqf, Blockchain, Islamic philanthropy, Digital Waqf, Sharia fintechAbstract
Waqf has historically served as a cornerstone of Islamic civilization's socio-economic infrastructure, yet today faces critical challenges including weak governance, opacity, asset certification failures, and low public trust. This study analyzes the potential and challenges of blockchain technology in waqf management, with particular focus on its implications for classical waqf law. Using a normative legal approach combined with comparative case study analysis of initiatives in Indonesia, Malaysia, and the Gulf region, the study finds that blockchain significantly enhances transparency, efficiency, and accessibility of waqf, while simultaneously raising unresolved legal questions concerning the validity of electronic waqf contracts, the status of digital assets (NFTs and waqf tokens), and sharia supervisory mechanisms. Three key findings emerge: (1) Finterra's Waqf Chain demonstrated the viability of tokenization for micro-waqf mobilization at scale; (2) BWI's digital waqf platform surpassed one million registered waqif by 2022; and (3) the UAE's Smart Waqf initiative confirms the feasibility of integrating blockchain with IoT and AI for real-time asset management. The study concludes that adapting waqf law to blockchain realities does not necessitate revision of its foundational principles, but requires the development of contemporary mu'amalat fiqh that is responsive to technological innovation.
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