💡In the drawers of ancient mosques, where donation records were written with fading ink on aging paper, blockchain technology enters through the widest doors! Today, a waqf land in Istanbul is transformed into a "digital token" purchased by a donor from Kuwait to build a Quranic school in Nigeria. This is not science fiction but a revolution in waqf financing that redefines Islamic charitable work. How do digital assets create a seismic shift in the oldest systems of Islamic financing? And do the fatwas agree with this transition?"
🟢 1: Traditional Waqf Between the Past.. and the Crisis of the Present**
- Islamic waqf: A system that has lasted for 14 centuries to finance mosques, schools, and hospitals.
- **Historical Issues**:
- Loss of paper records.
- Administrative and bureaucratic complexities.
- Difficulty in tracking donations (Where did your money go?).
- **Shocking Statistic**: 40% of waqf lands in the Arab world are underutilized due to mismanagement (Source: Islamic Development Bank).
🟢 2: The Digital Revolution: Blockchain Enters the Sanctuary
Mechanism: From donation to token
[Cash/Digital Donation] [Convert it to “Waqf Token”]
[Recording in a blockchain ledger cannot be forged]
[Funding a waqf project: Building a mosque/school]
[Send instant reports to the donor via email]
**Emerging Examples:**
1. **Malaysia**: The "**WaqfChain**" platform to manage 11,000 waqf properties via blockchain.
2. **Turkey**: Converting the waqfs of "Hagia Sophia" into tokens to fund its restoration.
3. **Jordan**: The "**Sadaqa Token**" project to provide education for orphans through small donations.
🟢 3: Fatwas and Challenges.. Is technology halal?
**Scholars' Positions:**
- **Conditional Approvals**:
- The Council of Senior Scholars in Saudi Arabia: "It is permissible if the conditions of the waqf are preserved".
- Dr. Ali Muhyi Al-Din Al-Qaradaghi: "Technology is a neutral tool".
- **Conservatives**:
- Concern about turning charitable waqf into a "speculative financial asset".
- Risk of cyber intrusion into mosque funds.
**Practical Challenges:**
- Technical Barrier: 70% of waqf officials are not familiar with blockchain (Al-Azhar University study).
- Difficulty in linking old systems with digital platforms.
🟢 4: The Future of Waqf: From land to the metaverse
- **Virtual Waqf**: Buying digital land in the "metaverse" to build an electronic mosque, whose donations are collected for real projects.
- **NFT for Islamic Heritage**: Converting rare waqf manuscripts into non-fungible tokens (NFT) to fund their preservation.
- **Predictions 2030**:
- 30% of waqf donations in the Islamic world will be digital (Future Report by PwC).
💡Blockchain does not destroy the waqf system, but revives it with undeniable transparency. The challenge is not technical but cultural: Do we trust a "code" to preserve mosque funds more than humans? The answer lies in Malaysia, where "waqf tokens" built 7 schools in one year! The revolution is coming.. and the question is: Will we be its pioneers, or will we wait for the West to lead us?
🖊️Sources
- The website of the **WaqfChain** platform (Malaysia).
- Al-Azhar University Study: "Acceptance of waqf officials for digital transformation".
- Fatwa No. 4781/2023 from the Egyptian Fatwa House
