Endowment and Blockchain Technology: Investment and Finance from the Sharia Perspective

Abstract

Purpose: This research aims to define blockchain methodology and highlight the blockchain relationships in the framework of the Waqf system and its main processes. It also aims to show how blockchain methodology can facilitate developing the work of the Waqf institution further, and it clarifies the legal framework of interests and/or corruption. Methodology: We apply the descriptive analytical approach to clarify blockchain methodology and determine its relationship with the focal endowment. We also clearly explain the appropriate usage of blockchain and reveal what legal obstacles could prevent its users from benefiting from this methodology. Findings: One of our most important findings is that this technology can contribute to preserving endowment assets, controlling inventory, registering and documenting awqaf, financing Waqf projects and compensating some expenses. Originality: This is the first study to bring together modern technologies and the main awqaf operations to explore the use of modern technologies in developing the global work of Awqaf institutions.