An overview of the lecture on “Waqf Innovation: Selected Cases”

An overview of the lecture on “Waqf Innovation: Selected Cases” Date: 8 July 2021 Day: Thursday Time: 12…

An overview of the lecture on “Waqf Innovation: Selected Cases”

  • Date: 8 July 2021
  • Day: Thursday
  • Time: 12 Noon (Kuwait time)
  • Speaker: Prof. Dr. Raditya Sukmana, Head of Islamic Economics Doctorate Program, Faculty of Economics and Business, Universitas Airlangga, Indonesia
  • Organizer: Islamic Econmics Association, Faculty of Shariah and Islamic Studies, Kuwait University
  • Web:



The Islamic Economics Association (نادي الاقتصاد الإسلامي بجامعة الكويت) of the Faculty of Shariah and Islamic Studies in University of Kuwait is a well-known pioneer education, research and training platform. The association specially promotes Shariah-compliant finance frameworks, strategies, and models through conducting lectures, talks, workshops, conferences, seminars and trainings, both in Arabic and English languages which covers a wide range of areas in Islamic banking and finance. In regard to that the lecture on “Waqf Innovation: Selected Cases” was held on 8 July 2021. Dr. Mohammad Mohiuddin, the Moderator of the session started the session and briefly introduced the Association and the speaker to all participants.

The speaker Prof. Dr. Raditya Sukmana addressed the background of the topic of the lecture at the beginning and mentioned the content of the lecture. Then the lecturer discussed briefly about the overview of Idonesia, waqf practices in Indonesia and he mentioned some statiscis related to waqf implementation in Indoesia. Then the Speaker discussed the topic excellently through providing with some examples of Waqf practices in Indonesia and Singapore.

Keywords: Waqf. Mosque. Mudarabah. Cash Waqf. Sukuk.


The objectives of the lecture are:

  1. Assisting the researchers, professionals and students to understand the concept of Waqf in Islam.
  2. Defining the Waqf innovation, practices and implementation.
  3. Helping the attendees to understand the whole process of Waqf.
  4. Addressing some effective examples and waqf models.


Prof. Dr. Raditya Sukmana discussed the topic excellently by explaining the concept of Waqf in Islam. Then he stated that normally what we understand about Waqf is related to Mosque, Madrasah and Qabr (Cemetery) but it is not limited to that. To apply the concept of Waqf, there are many governments and non-government offices and institutions should be linked with such as the ministry of finance, takaful companies, Islamic banks, Islamic capital markets, and so on. The speaker then mentioned 4 examples and models of Waqf practices and implementations and explained them in details. The four examples are Waqf for fisherman via Islamic cooperatives; Waqf and Islamic Insurance (an Ilustration); Waqf of GAZOLINE NOZZLE; and Cash Waqf linked to Sukuk.


May Allah accept all our good deeds and services.

Prepared by:

Dr. Mohammad Mohiuddin

Moderator of the session

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