PRODUCTIVE WAQF–BASED FINANCING MANAGEMENT MODEL FOR SUSTAINABLE ISLAMIC EDUCATION
DOI:
https://doi.org/10.30868/ei.v15i02.10075Keywords:
Islamic Education, Financial Management, Maqashid Shariah, Productive Waqf, Sustainable FundinAbstract
This study examines a productive waqf–based financing management model as a sustainable solution for Islamic educational institutions. It aims to develop an effective and integrative framework that aligns Islamic financial principles with contemporary institutional needs. Using a qualitative library research approach, the study analyzes classical fiqh literature, modern financial management theories, and recent empirical studies from Indonesia and other Muslim-majority countries. The findings indicate that productive waqf can function as a reliable and sustainable funding source when supported by transparent governance, professional asset management, and technology-driven financial reporting systems. The proposed MIWAP-PI model highlights the importance of nazhir professionalism, accountability, and institutional autonomy in optimizing waqf assets. Practically, this model provides a structured approach for Islamic educational institutions such as pesantren, madrasah, and Islamic universities to reduce dependence on external funding and develop self-sustaining financial systems. Ultimately, it contributes to strengthening Islamic social finance ecosystems and supports the achievement of maqashid al-shariah, particularly in ensuring long-term educational sustainability.
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