Utilizing Islamic banking products to serve the Waqf system

Abstract

Islamic banking is an alternative financial system that operates without interest, offering a variety of products to help customers build diverse assets and stimulate economic growth. By adopting innovative Sharia-compliant structures, it encourages investment across all sectors of the economy. The waqf system, with its unique characteristics, can benefit from these banking products, leading to greater integration and improved services. This research focuses on the mechanisms for interaction between Islamic banking and waqf. The findings indicate that both Islamic banking and waqf are essential Islamic financial institutions that can significantly contribute to economic and social development in the Islamic world. Their interaction can foster social solidarity and support economic growth.