Kefi Miftachul Ulum, Sari Ariyanti, Doli Witro, Iffaty Nasyiah
The rapid expansion of Indonesia’s digital economy, bolstered by evolving financial regulations, presents a strategic opportunity to integrate Islamic philanthropy—particularly waqf—into fintech-based funding systems. This study explores the potential integration of waqf instruments within securities crowdfunding, as governed by OJK Regulation No. 57 of 2020 and its amendment, OJK Regulation No. 16 of 2021. The growth in sukuk issuances—from 59 in August 2023 to 105 by May 2024, comprising 30% of all securities—demonstrates a promising avenue for channeling waqf funds to support MSMEs and drive socio-economic development. Employing a normative legal research methodology, this study utilizes statutory and conceptual analysis, drawing on primary legal sources related to waqf and crowdfunding, as well as secondary data from the Financial Services Authority (OJK) and the Central Securities Depository (KSEI). Through descriptive-analytical methods and integrative legal theory, the research examines how regulatory frameworks can be aligned. The findings indicate a strong legal synergy between Islamic waqf law and fintech regulations, facilitating the development of a productive, Sharia-compliant waqf investment model. This study offers a conceptual and regulatory roadmap for leveraging waqf funds through digital platforms, enhancing their sustainability, accountability, and role in promoting inclusive Islamic economic growth. © 2025, Maulana Malik Ibrahim State Islamic University of Malang. All rights reserved.
Faculty of Shariah and Law, Universitas Islam Sunan Kalijaga Yogyakarta, Indonesia; Faculty of Law, Universitas Brawijaya, Indonesia; Faculty of Shariah and Law, Universitas Islam Negeri Sunan Gunung Djati Bandung, Indonesia; Faculty of Shariah, Universitas Islam Negeri Maulana Malik Ibrahim Malang, Indonesia
