Conceptualization of Waqf Marketplace Innovation Model

Abstract

As the largest and most generous Muslim country in the world, waqf has enormous potential in Indonesia. However, this potential has not been maximized for several reasons, such as minimum literacy, the lack of practitioners' skills, and the absence of collaboration from various parties to maximize the potential of waqf. These problems need to be addressed immediately so as not to hinder the development of waqf in Indonesia. Therefore, to address these issues, this study intends to conceptualize the marketplace of nazhir (waqf managers), waqif (donors), businesses, and charity institutions, which put the missing puzzle in place to create a waqf ecosystem. To achieve the purpose, this research employs a qualitative approach with a descriptive-analytical method. Data is collected through secondary data such as articles, books, conference proceedings, government reports, official website information, and other related waqf scopes. The model proposed in this study is expected to encourage waqf ecosystem development in this digital era. Furthermore, the conceptual model of this study may help the government and stakeholders in the waqf and economic sector to achieve prosperity.