CASH WAQF SHARES AS ALTERNATIVE INSTRUMENTS FOR FINANCING GLOBAL PUBLIC INFRASTRUCTURE PROJECTS
Indonesia 
Brunei Darussalam Brunei Darussalam 
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Cash Waqf Shares, Global Infrastructure Finance, Islamic Social Finance
Abstract
Cash waqf shares have emerged as a promising Islamic social finance innovation amid the widening global infrastructure financing gap, where conventional funding sources remain insufficient to meet escalating demands for sustainable public infrastructure development. This study aims to examine the feasibility of cash waqf shares as alternative instruments for financing global public infrastructure projects within an integrated Islamic finance framework. A qualitative library research design was employed, utilizing systematic literature review and conceptual analysis of scholarly articles, policy reports, and institutional publications related to waqf, infrastructure finance, and sustainable development. Findings indicate that cash waqf shares can mobilize collective philanthropic capital into structured, long-term financing pools suitable for infrastructure sectors such as energy, transportation, healthcare, and water systems. The results further highlight that governance quality, digital financial platforms, and institutional collaboration significantly determine the effectiveness and scalability of waqf-based infrastructure financing models. The study concludes that cash waqf shares represent a viable complementary financing mechanism that bridges ethical finance principles with global infrastructure investment needs while enhancing financial inclusion and social welfare outcomes.
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Copyright (c) 2026 Henik Hari Astuti, Nadiah Ismail, Khalid Mahmud
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