Innovative Financing Models for Agricultural Waqf: A Conceptual Framework for Optimizing Resources and Investments
Abstract
This article aims to build an understanding of the emerging analytical discussions appearing in the research published on the topic of waqf in agriculture context. Employing a thematic analysis approach, this research synthesizes secondary data sourced from peer-reviewed articles across major academic databases (Scopus, Web of Science, and Google Scholar), alongside official institutional reports to identify key themes related to Islamic financial instruments, digital financing platforms, institutional governance, and sustainability orientation in agricultural waqf management. The analysis reveals that agricultural waqf can be transformed from a passive charitable asset into a productive development instrument through the integration of cash waqf, sukuk, Islamic financing contracts, fintech-based crowdfunding, and strengthened nazhir governance. Building on these findings, the study develops a conceptual framework based on the Tawhidi String Relations (TSR) approach, which emphasizes ethical unity, interconnectedness, and circular causation between economic activities, social welfare, and environmental sustainability. The proposed framework positions agricultural waqf as a strategic asset capable of addressing financing constraints, land fragmentation, and food security challenges while supporting the achievement of the Sustainable Development Goals (SDGs). This study contributes to the literature by offering a value-driven and integrative perspective on agricultural waqf financing and provides insights for policymakers, waqf institutions, and Islamic finance practitioners in designing sustainable and Shariah-compliant financing mechanisms.
Keywords
Full Text:
PDFReferences
Abiba, R. W., & Suprayitno, E. (2024). Optimalisiasi Wakaf Produktif dalam Mendukung Upaya Pencapaian SDGs Melalui Pemberdayaan Peternakan. Al-Intaj : Jurnal Ekonomi Dan Perbankan Syariah, 9(1), 109. https://doi.org/10.29300/aij.v9i1.2705
Afrina, I. (2024). Unlocking Social Impact: How Sukuk Financing Empowers Waqf Institutions. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.4843797
Aini, R., & Kamilah, K. (2025). Solusi Keuangan Syariah Terhadap Pembiayaan Sektor Pertanian untuk Mencapai Sustainable Development Goals. Ecoplan, 8(1), 51–60. https://doi.org/10.20527/ecoplan.v8i1.1117
Akhir, N. S. M., Yusof, A. S. M., Ismail, I. A., & Ismail, S. I. (2025). Integrating Agricultural Waqf and Musaqah Contract Towards a Sustainable Food Security. International Journal of Humanities and Social Science. https://doi.org/10.30845/ijhss.v15p41
Al Anshari. (2023). Optimalisasi Manajemen Operasional Untuk Pemanfaatan Dana Wakaf Yang Efisien. Journal of Creative Power and Ambition (JCPA), 1(02), 14–28. https://doi.org/10.70610/jcpa.v1i02.50
Al-Daihani, M., Dirie, K. A., Alam, M. M., & Abdullah, A. S. B. C. (2024). AN ISLAMIC CROWDFUNDING MODEL FOR THE AGRICULTURAL SECTOR: A PROPOSAL BASED ON SALAM AND MUZĀRAʿAH-WAQF SCHEME. ISRA International Journal of Islamic Finance, 16(Special Issue 1), 4–22. https://doi.org/10.55188/ijif.v16iS1.566
Al-Tulaibawi, A., de Frutos Madrazo, P., & Martín-Cervantes, P. A. (2024). Waqf: An Advanced Approach to Combating Agricultural Land Fragmentation in Islamic Countries. World, 5(4), 1386–1403. https://doi.org/10.3390/world5040070
Ashfahany, A. El, & Lestari, N. (2023). Optimizing Cash Waqf and Cash Waqf Linked Sukuk : The Role of Nazhir and The Strategies. IQTISHADIA, 15(2), 171. https://doi.org/10.21043/iqtishadia.v15i2.16353
Badan Wakaf Indonesia. (2022). Indeks Wakaf Nasional 2022.
Braun, V., & Clarke, V. (2021). Thematic analysis: A practical guide. SAGE publications Ltd.
Choudhury, M. A. (2019). The Tawhidi Methodological Worldview. Springer.
Dirie, K. A., Alam, Md. M., & Maamor, S. (2024). Islamic social finance for achieving sustainable development goals: a systematic literature review and future research agenda. International Journal of Ethics and Systems, 40(4), 676–698. https://doi.org/10.1108/IJOES-12-2022-0317
Fitrianto, Saputra, A., Mulyadita, R., & Azwani, N. (2022). PEMETAAN TANAH WAKAF DAN POTENSI TANAH WAKAF DIKELOLA SECARA PRODUKTIF DI KABUPATEN KUANTAN SINGINGI. JURNAL AL-FALAH PERBANKAN SYARIAH, 4(2).
Ghozalie, F., Muallim, A., & Tono, S. (2020). REFORMULATION OF ALLAH’S OWNERSHIP ON WAQF (THEORETICAL ANALYSIS TOWARD SYĀFI’I SCHOOL). Syariah: Jurnal Hukum Dan Pemikiran, 20(2), 145–158. https://doi.org/10.18592/sjhp.v20i2.4129
Gunawan, F., Mahmud, A., & Umasugi, N. (2022). PERAN NAZHIR DALAM PENGELOLAAN WAKAF PRODUKTIF PADA YAYASAN KESEJAHTRAAN NURUL BAHAR TOMALOU KOTA TIDORE KEPULAUAN. Indonesian Journal of Shariah and Justice, 2(2), 199–228. https://doi.org/10.46339/ijsj.v2i2.39
Hassan, M. K., Muneeza, A., & Hasan, R. (2025). Islamic Finance and Sustainable Development. Cambridge University Press. https://doi.org/10.1017/9781009464963
Himmawan, M. F., Ninglasari, S. Y., & Mirzal, H. (2025). A systematic literature review on waqf governance: stakeholder analysis. International Journal of Ethics and Systems. https://doi.org/10.1108/IJOES-03-2025-0137
Indriani, R. S., & Nur, A. (2025). TAGUVESTASI: Revolutionizing Halal Agriculture Through Blockchain-Integrated Sharia P2P Lending Platform for Sustainable Green Economy Development. Li Falah: Jurnal Studi Ekonomi Dan Bisnis Islam, 9(1), 1. https://doi.org/10.31332/lifalah.v1i1.10247
Ishak, A. H., Amira Mohamad, S. N., Ab Manan, S. K., Yahaya, M. H., Wan Daud, W. N., & Sharif, D. (2025). The critical success factors of waqf land development for sustainable agriculture. Social Sciences & Humanities Open, 11, 101244. https://doi.org/10.1016/j.ssaho.2024.101244
Jaharuddin, J., & Muhibuddin. (2025). Optimalisasi Peran Bank Wakaf dalam Keuangan Islam: Analisis Komparatif Implementasi dan Dampak di Indonesia, Malaysia dan Turki. Jurnal Bimas Islam, 18(1), 291–313. https://doi.org/10.37302/jbi.v18i1.1352
Jedidia, K. Ben, & Ghroubi, M. (2025). Islamic finance and SDGs: bibliometric review and future research agenda. Journal of Chinese Economic and Business Studies, 23(3), 329–362. https://doi.org/10.1080/14765284.2024.2445959
Wibowo, L. N., Al-Fadillah, T., Hariyono, I. A., Pradana, D. A., & Rohim, A. N. (2025). Wakaf sebagai Pilar Ekonomi Syariah : Analisis Tata Kelola dan Penguatan Kelembagaan di Indonesia. Maslahah : Jurnal Manajemen Dan Ekonomi Syariah, 3(3), 250–266. https://doi.org/10.59059/maslahah.v3i3.2493
Luik, M. T., Fatoni, A., & Ahmad, M. F. (2021). Utilising Permaculture to Develop Abandoned Waqf Land in Resolving Food Insecurity in Indonesia. ALBUKHARY SOCIAL BUSINESS JOURNAL, 2(1), 65–80.
Ma, Y., & Sukmana, R. (2025). Takeaways from Islamic social finance and sustainable development goals discourse: review and bibliometric analysis on future directions for Zakat, Waqf and Islamic microfinance. Journal of Islamic Accounting and Business Research. https://doi.org/10.1108/JIABR-06-2024-0227
Majid, R. (2021). DESIGNING SALAM-MUZARA’AH LINKED WAQF TO FINANCING AGRICULTURAL SECTOR. Journal of Islamic Monetary Economics and Finance, 7(3), 503–526. https://doi.org/10.21098/jimf.v7i3.1309
Majid, R. (2022). Rice land sustainability and agricultural financing through waqf. Review of Islamic Social Finance and Entrepreneurship, 17–35. https://doi.org/10.20885/RISFE.vol1.iss1.art2
Majid, R., & Sukmana, R. (2023). DESIGNING A WAQF-BASED AGRICULTURAL FINANCING MODEL. Journal of Islamic Monetary Economics and Finance, 9(3), 443–464. https://doi.org/10.21098/jimf.v9i3.1686
Ministry of Agrarian Affairs and Spatial Planning / National Land Agency (ATR/BPN). (2025). Indonesia to accelerate waqf land certification in 2025. ANTARA News. https://en.antaranews.com/news/339906/indonesia-to-accelerate-waqf-land-certification-in-2025
Mohd Thas Thaker, M. A. Bin. (2018). A qualitative inquiry into cash waqf model as a source of financing for micro enterprises. ISRA International Journal of Islamic Finance, 10(1), 19–35. https://doi.org/10.1108/ijif-07-2017-0013
Munir, M. (2025). TRANSFORMASI WAKAF PRODUKTIF BERBASIS NILAI-NILAI AL-QUR’AN: PENDEKATAN STUDI KASUS DI INDONESIA. Jurnal Dinamika Ekonomi Syariah, 12(1), 339–356. https://doi.org/10.53429/jdes.v12i1.1354
Mutiara, M., Beik, I. S., & Nur Widigdo, A. M. (2021). Optimizing Strategy for Land-Based Waqf Development in Indonesia. Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah, 13(1), 67–86. https://doi.org/10.15408/aiq.v13i1.20571
Nasution, L. Z., & Aris, D. A. (2020). Konstruksi Pengembangan Wakaf Saham Dalam Rangka Mengoptimalkan Potensi Wakaf Produktif di Indonesia. Islamic Circle, 1(1), 27–52. https://doi.org/10.56874/islamiccircle.v1i1.98
Notolegowo, H. K., Alamsyah, I. F., Saraswati, N., Jalil, B. A., & Bt Isahak Merican, F. M. (2023). Relationship between Islamic Social Finance and Sustainable Development Goals: A Conceptual Framework. KnE Social Sciences, 197. https://doi.org/10.18502/kss.v8i18.14245
Nugroho, L., Meiwanto Doktoralina, C., Indriawati, F., Safira, S., & Yahaya, S. (2020). Microeconomics and Tawhid String Relation Concept (TSR). In International Journal of Economics and Business Administration: Vol. VIII (Issue 3).
Paul, J., & Criado, A. R. (2020). The art of writing literature review: What do we know and what do we need to know? International Business Review, 29(4), 101717. https://doi.org/10.1016/j.ibusrev.2020.101717
Prasetyo, D., Suratmin, & Syarifuddin. (2025). Buku saku sertifikasi tanah wakaf. https://www.bwi.go.id/storage/2021/10/buku-saku-sertifikasi-tanah-wakaf.pdf
Ristawati, N. F., & Makhrus, M. (2025). Strengthening Economic Welfare through Innovative Waqf Management: Insights from Islamic Organizations. Jurnal Al-Hakim: Jurnal Ilmiah Mahasiswa, Studi Syariah, Hukum Dan Filantropi, 81–98. https://doi.org/10.22515/jurnalalhakim.v7i1.11180
Shulthoni, M., & Saad, N. M. (2018). Waqf fundraising management: A conceptual comparison between traditional and modern methods inthe waqf institutions. Indonesian Journal of Islam and Muslim Societies, 8(1), 57–86. https://doi.org/10.18326/ijims.v8i1.57-86
Snyder, H. (2019). Literature review as a research methodology: An overview and guidelines. Journal of Business Research, 104, 333–339. https://doi.org/10.1016/j.jbusres.2019.07.039
Sofyan, S., & Sofyan, A. S. (2023). PEMANFAATAN TANAH WAKAF PRODUKTIF: PENDEKATAN PRAKTIS. Tadayun: Jurnal Hukum Ekonomi Syariah, 4(1), 1–16. https://doi.org/10.24239/tadayun.v4i1.94
Sumarti, R. K., & Susetyo, A. B. (2025). Peran Bank Waqaf Mikro dalam Mengoptimalkan Waqaf Sebagai Instrumen Pemberdayaan Ekonomi. Jurnal Ekonomi Dan Bisnis, 4(2), 89–102. https://doi.org/10.33633/jekobs.v4i2.13078
Syahran, S., & Alzahira, S. (2025). Analysis of Cash Waqf Management Strategy to Improve the Economy of the Community. Seriat Ekonomisi, 2(2), 77–85. https://doi.org/10.35335/zgksa959
Taqwiem, A., & Rachmadi, K. R. (2023). Cash Waqf Linked Sukuk Financing in the Development of Sustainable Agriculture from the Maqashid Syari’ah Perspective. Jurnal Ilmiah Ekonomi Islam, 9(2), 1745. https://doi.org/10.29040/jiei.v9i2.9013
Widi, R. H., Suprapto, A., & Ellyta. (2025). Innovative Agricultural Financing Models to Enhance Farmers’ Access to Sustainable Credit and Investment. Jurnal Ilmiah Manajemen Kesatuan, 13(5), 3791–3802. https://doi.org/10.37641/jimkes.v13i5.3387
Wildana, M. D. A., & Alhabshi, S. M. S. J. (2018). Proposed waqf framework for food security and price stabilization policy of rice in Indonesia. Journal of Islamic Finance, 7(2), 70–85.
Yasin, R. M. (2021). CASH WAQF LINKED SUKUK: ISSUES, CHALLENGES AND FUTURE DIRECTION IN INDONESIA. Jurnal Ekonomi Dan Bisnis Islam (Journal of Islamic Economics and Business), 7(1), 100. https://doi.org/10.20473/jebis.v7i1.24818
Yunita, P. (2021). Cash Waqf Linked Sukuk (CWLS) Model: For Indonesia Sustainable Food Security. Al-Awqaf: Jurnal Wakaf Dan Ekonomi Islam, 13(1), 59–72. https://doi.org/10.47411/al-awqaf.v13i1.96
Yusof, M. A. bin. (2024). Waqf-Driven Inclusive Prosperity Exploring the Intersection of Islamic Finance, Fintech, and Sustainable Development Goals. In Digitalization of Islamic Finance (pp. 303–334). IGI Global. https://doi.org/10.4018/979-8-3693-5653-1.ch012
Yusoff, R. M., Kader, S. Z. S. A., Arshad, A., Halim, A. H., Rosli, M. R., Baharudin, M. H., & Hafiz, S. M. M. (2025). Leveraging Waqf Land for Enhancing Food Security Initiatives: Best Practices and Strategic Recommendations. Journal of International Conference Proceedings, 7(3), 637–647. https://doi.org/10.32535/jicp.v7i3.3729
Zainal, N., Daud, D., Muda, R., Kasim, E. S., & Iqbal, M. M. (2025). From Charity to Strategic Asset Governance: Ethical Wealth Preservation in Waqaf Institutions. International Journal of Academic Research in Economics and Management Sciences, 14(3). https://doi.org/10.6007/IJAREMS/v14-i3/26624
Zheng, J., Khurram, M. U., & Chen, L. (2022). Can Green Innovation Affect ESG Ratings and Financial Performance? Evidence from Chinese GEM Listed Companies. Sustainability (Switzerland), 14(14). https://doi.org/10.3390/su14148677
DOI: http://dx.doi.org/10.21043/ziswaf.v13i1.32501
Refbacks
- There are currently no refbacks.
Copyright (c) 2026 ZISWAF: JURNAL ZAKAT DAN WAKAF
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
This work is licensed under a Creative Commons Attribution 4.0 International License.
