Optimizing Islamic Social Finance and Philanthropy for Sustainable Economic Empowerment and Community Welfare: A Comprehensive Approach
DOI:
https://doi.org/10.24191/nk13372Keywords:
Islamic social finance, sustainability, green waqfAbstract
This review explores the optimization of Islamic social finance instruments such as zakat, waqf, sadaqah, and infaq to advance sustainable economic empowerment and community welfare. It highlights innovative models, including productive zakat, green waqf, and digital fundraising, that enhance social impact and environmental sustainability. The literature underscores challenges like institutional trust, financial literacy, and regulatory complexities, while proposing solutions through technology, capacity building, and collaborative frameworks involving government, private sector, and community stakeholders. The review emphasizes the role of Islamic social finance in fostering MSME development, poverty reduction, and alignment with SDGs, advocating for strategic policies that leverage innovation and sustainability to maximize social and economic benefits.
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