Waqf as an Instrument for Social Security System: A Framework for Society’s Welfare

Abstract

Abstract: Waqf, an enduring institution in Islamic economic thought, holds
significant potential as an instrument for ensuring society’s welfare through a
sustainable social security system. This paper proposes a conceptual framework
that integrates waqf into contemporary social protection mechanisms, aiming to
address poverty alleviation, income inequality, and community empowerment.
Drawing from classical jurisprudence and modern institutional models, the
framework outlines governance structures, operational mechanisms, and financing
strategies that align with the principles of transparency, accountability, and
maqāṣid al-sharīʿah (objectives of Islamic law). The study highlights the role of
waqf assets in providing long-term funding for essential services such as
healthcare, education, housing, and livelihood support. It also examines the
synergy between waqf-based initiatives and governmental welfare programs to
enhance resilience and reduce dependency on short-term aid. The proposed model
offers a strategic pathway for policymakers, waqf managers, and social welfare
institutions to revitalize waqf as a viable, equitable, and sustainable pillar of social
security in the modern era.
Keywords: waqf, social security, society’s welfare, Islamic economics, sustainable
development