مجلة قضايا فقهية واقتصادية معاصر
Volume 5, Numéro 2, Pages 77-89
2025-10-01
The Utilization Of Blockchain Technology In Waqf And Charitable Endeavors: The Finterra Waqf Chain Platform In Malaysia As A Case Study
Authors : Kamoumia Soufyane .
Abstract
This study aims to explore the advantages and opportunities presented by blockchain technology in the realms of waqf (Islamic endowments) and charitable activities, particularly in financing, managing assets, and overseeing waqf-related investments. Furthermore, it seeks to highlight a specific blockchain product developed to serve waqf and charitable purposes: the Finterra Waqf Chain platform in Malaysia. The study concludes that integrating this technology can foster trust and broaden access to a diverse investor base within the Islamic waqf ecosystem. It facilitates the collection of necessary funds for developing and financing these endowments through crowdfunding platforms. Additionally, the decentralized nature of blockchain stands out as a crucial element in revitalizing waqf, transforming it into a sustainable source of returns that can be reinvested in enhancing ancient endowments. Blockchain can also be employed for preserving and archiving Islamic waqf documents worldwide, managing their assets and investments, regulating contractual relationships between waqf entities and their beneficiaries as well as other stakeholders, monitoring waqf growth, building integrated databases, and bolstering transparency.
Keywords
Blockchain, Fintech, Crowdfunding Platform, Waqf and Charitable Works, Finterra.
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