UNLOCKING WAQF REAL ESTATE POTENTIAL FOR FOOD SECURITY: LEGAL INNOVATIONS AND MAQASID AL-SHARI‘AH PERSPECTIVES

Abstract

Food security has emerged as a pressing global challenge, particularly in light of climate change, urbanization, and economic instability. Within Islamic finance, waqf (endowment) real estate represents a largely untapped resource with immense potential for sustainable agricultural initiatives. This study assesses the efficacy and acceptance of existing waqf legal frameworks in maximizing waqf real estate resources for national food security initiatives. Using a doctrinal legal analysis combined with qualitative interviews from waqf practitioners and policymakers, the paper explores how innovative legal strategies aligned with Maqasid al-Shari‘ah (the objectives of Islamic law) can unlock idle waqf lands for agricultural production. The research finds that while waqf legislation in many Muslim-majority countries provides a foundation for asset utilization, systemic reforms, particularly regarding governance, registration, and stakeholder accountability, are necessary to realize waqf's full potential. The study proposes a governance and legal reform model to transform waqf real estate into a dynamic instrument for addressing food security in the Islamic world.