Catalysing National Health Security by The Islamic Micro Endowment Mechanism Through Financial Technology Platform

Abstract

Endowment (Waqf) is one of Islamic social security instrument that has proven successful in increasing the economic and social strength of the Muslim community in the early development of Islamic civilization to its peak in the Ottoman Turkish era, where it is an institution that plays a key role in community empowerment through micro endowment in various fields, such as micro endowment education, an endowment of assets, land, gardens, buildings, up to endowment of health. Contemporarily, the post-pandemic is causing the health sector to become critical where tools and other necessities are desperately needed, and some initiatives need to be taken. Among them are health endowment institutions that play a role in contributing permanent medical infrastructure and equipment. It can also ensure that the health sector receives permanent and sustainable assistance. Therefore, this study will focus on the theory and concept of the implementation of financial technology medium as a new synergy to the endowment. Highlights of micro endowment will be made through literature review and thematic analysis will be made to create a health micro endowment ecosystem framework that incorporates micro endowment units in a synergistic approach between the government, religious authorities, micro endowment asset operators, and beneficiaries. This study will also reveal the values of financial technology that are a priority for endowment makers to use as a reliable, suitable, and convenient platform.