Waqf as a Fiscal Support Instrument in Accelerating the Realization of SDGs 9: Case Study in Indonesia Mir^atun Nisa^ (a*), Sri Herianingrum (b)
a,b) Department of Sharia Economics, Faculty of Economics and Business, Universitas Airlangga, Jl. Airlangga No. 4, surabaya, Indonesia
*miratun.nisa-2023[at]feb.unair.ac.id
Abstract
Infrastructure and industrial development are two of the main means of accelerating the country^s development, as stated in the Long-Term National Development Plan (RPJPN). However, the budget allocation for infrastructure development reaches 13% of the state^s annual budget and continues to increase every year. This research explores the potential of waqf as a strategic fiscal instrument to accelerate the achievement of Sustainable Development Goals (SDGs) 9, which focuses on industry, innovation, and infrastructure. Through in-depth analysis of literature and case studies from practice in Indonesia and abroad, this research seeks to explore the potential and design a waqf asset management model integrated with other Islamic financial instruments to overcome infrastructure gaps, improve technological capabilities, and stimulate economic progress from micro to macro level. Various key stakeholders are also analyzed to build a comprehensive model. Ultimately, this research contributes to the broader discussion regarding integrating Islamic social finance practices into the country^s economic framework, by emphasizing the important role of Waqf in realizing a more inclusive and sustainable economy.
Keywords: Waqf- Fiscal- SDGs 9- Infrastructure Development
