A research team from Universitas Padjadjaran, Indonesia, led by Rini Nuraini with co-authors Sukono, Ririn Amelia, and Rachmadita Andreswari, has carried out a systematic literature review to develop a model of discrete-time surplus processes for productive waqf schemes. The study focuses on integrating waqf-based financing with strategies that enhance the welfare of fishermen through sustainable economic benefits.
The problem addressed in this study is that fishermen, particularly in developing countries, often face unstable income and vulnerability to poverty. Traditional financial systems provide limited solutions, while productive waqf—a philanthropic Islamic finance instrument—offers potential to empower communities if effectively managed and modeled.
To explore this, the authors reviewed and synthesized previous research on surplus processes, waqf schemes, and community welfare applications. They proposed a discrete-time surplus model that incorporates threshold levels to ensure both sustainability of the waqf institution and continuous benefits for fishermen. This framework provides a mathematical foundation for balancing financial stability with social welfare goals.
The study concludes that integrating productive waqf into fishermen’s welfare schemes can create a sustainable cycle of benefits, helping communities escape poverty traps. By applying threshold-based surplus processes, institutions can manage risk while guaranteeing long-term economic security for beneficiaries.
In terms of global impact, the research strongly aligns with several United Nations Sustainable Development Goals (SDGs):
- SDG 1 (No Poverty): reducing poverty through sustainable financing models.
- SDG 2 (Zero Hunger): supporting food security by stabilizing fishermen’s livelihoods.
- SDG 8 (Decent Work and Economic Growth): creating stable income opportunities for coastal communities.
- SDG 14 (Life Below Water): promoting sustainable use of marine resources by empowering fishermen.
- SDG 17 (Partnerships for the Goals): integrating Islamic finance, mathematics, and community development for sustainable outcomes.
Overall, this study highlights the transformative role of productive waqf as an innovative financial tool to support fishermen’s welfare, strengthen community resilience, and contribute to sustainable development.
02/Mat/2025
