Waqf as an Instrument for Poverty Alleviation: Analysis of Roles and Implementation in Developing Countries

Abstract

This study aims to analyze the role and implementation of waqf as a poverty alleviation instrument in developing countries. By employing a case study approach in countries such as Indonesia, Malaysia, Turkey, and Bangladesh, the research examines productive waqf management models and the challenges faced in maximizing its potential to reduce poverty. The findings indicate that waqf plays a significant role in financing social sectors like education, healthcare, and economic empowerment. However, its implementation encounters various challenges, including inadequate regulatory support, limited accountability, and a lack of technological innovation in waqf management. The study recommends enhancing supportive regulations, establishing professional waqf management institutions, and digitalizing waqf management to expand access and transparency. Properly implemented, waqf holds great potential to be an effective instrument in supporting social welfare and reducing poverty in developing countries.