A Proposed Financial Inclusion Model Integrating Zakat, Waqf, and Islamic Crowdfunding for Sustainable Poverty Alleviation in Supporting Ekonomi MADANI
DOI:
https://doi.org/10.21834/e-bpj.v10iSI33.7082Keywords:
Zakat, Waqf, Islamic Crowdfunding, Ekonomi MADANIAbstract
This study proposes an integrated Islamic social finance model combining Zakat, Waqf, and Islamic crowdfunding within Malaysia’s Ekonomi MADANI to address poverty. By unifying short-term aid (Zakat), asset-based investment (waqf), and entrepreneurial capital, the model tackles both symptoms and causes of poverty. Empirical findings suggest a 23–41% increase in effectiveness. However, fragmented governance remains a barrier, especially among state zakat bodies and crowdfunding platforms. The study recommends forming a National Islamic Finance Integration Council, digital database interconnection, legal reforms, and blockchain adoption. The model offers a culturally grounded, systemic approach to achieving SDG 1 through ethical, integrative development finance.
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