Productive Waqf and Sustainable Development: An Islamic Ethical Framework Based on Maqāṣid al-Sharī‘ah

Abstract

This paper examines the role of productive waqf in promoting sustainable development through the ethical framework of maqāṣid al-sharī‘ah. As modern economies search for inclusive and value-based models, Islamic instruments rooted in justice and welfare principles present compelling alternatives. Productive waqf, a contemporary form of Islamic endowment, enables revenue generation for social services such as education, healthcare, and poverty alleviation, thereby ensuring long-term sustainability. This conceptual study utilizes a qualitative, document-based approach to analyze classical jurisprudence and modern Islamic economic thought. The analysis demonstrates that productive waqf addresses multiple dimensions of sustainable development while fulfilling the five objectives of maqāṣid al-sharī‘ah: preservation of religion, life, intellect, progeny, and wealth. Key findings highlight the potential of productive waqf to transform community-based welfare systems through ethical wealth circulation and institutional innovation. The implications suggest that with legal reforms, professional governance, and integration into Islamic finance, waqf can significantly contribute to achieving development goals within a Shariah-compliant framework.