Tokenization of Temporary Cash Waqf

Abstract

Purpose– This thesis examines how tokenization, as an application of blockchain technology, may transform temporary Cash Waqf by preserving perpetual Waqf benefits while enhancing donor flexibility, thereby addressing prevailing challenges in donor participation,liquidity management, and operationalcontinuity. Design/methodology/approach–Thisresearchadoptsaqualitativedesignemploying systematiccontentanalysisandaliteraturereviewspanningIslamicfinanceandfinancial technology. Comparative Fiqh analysis is further applied to examine classical and contemporary jurisprudential stances on temporary Waqf. Subsequently, the study developsaconceptualmodelfor Tokenized TemporaryCash Waqf. Findings – The research proposes a three-layer architecture comprising the Waqf institutions layer, the Waqf Token Exchange platform layer, and the contributor layer. Through successive donor participation, the model reconceptualizes perpetuity, shifting it from permanent asset donation to participation-based perpetuity — wherein the continuityoftheWaqf corpusissustainedthroughongoingdonorrotationratherthan irrevocableassettransfer. Practical implications – The proposed framework provides a blueprint for Waqf institutions,regulators,andIslamicfintechdevelopers,offeringactionableguidanceto enhance liquidity, transparency, financial inclusion, and operational efficiency within the Waqf sector,withoutcompromising Shariah principles. Originality/value – To the best of the author’s knowledge, this thesis is the first to developaconceptualmodelofTokenizedTemporaryCashWaqf. Itdirectlyaddresses thetensionbetweenthecontinuityofcharitablebenefitsandthereturnofprincipalto donors. The study contributes to the Islamic social finance and Islamic fintech literature byintegratingtemporaryWaqf andblockchaintokenizationwithinasingleconceptual framework.

Date of Award	2026
Original language	American English
Awarding Institution	HBKU College of Islamic Studies