Crowdfunding Platform as Waqf Land Financing Model: A Case of Muhammadiyah Waqf Institution

This Muhammadiyah institutions in Indonesia face various difficulties in developing their waqf land. For instance, the financial sources are often inadequate, limiting development. The purpose of this paper is to propose an alternative financing model in the form of a waqf crowdfunding platform for Muhammadiyah institutions in dealing with financial problems. This research offers a crowdfunding platform model to be used by Muhammadiyah waqf institutions, especially in Central Java, in financing-related projects. In general, the study analyses the inefficiency of Muhammadiyah waqf management in Central Java due to the problem of financing waqf projects. A waqf crowdfunding platform model has been developed as a source of funds for Muhammadiyah waqf institutions. It is expected to be a solution for the empowerment of Muhammadiyah non-productive waqf land. The institutions may have to find alternative solutions for the development of waqf for the people. The findings of this study provide material information and input for Muhammadiyah Waqf Institutions through crowdfunding platforms. Through this model, Muhammadiyah waqf might become more useful in solving economic and social problems for the Ummah, especially in Central Java.