Main Article Content
Abstract
Islamic propagation institutions play a strategic role in the spiritual and social empowerment of Muslim communities. However, the dynamics of the disruptive era marked by digitalization, the emergence of fintech, and changing donation patterns demand innovation in financial management and funding strategies. This article aims to analyze the financial strategies of Islamic propagation institutions based on innovation and social entrepreneurship in response to the challenges of digital disruption. Using qualitative literature review and comparative analysis, this research examines various secondary sources, including books, journals, zakat institution reports, and annual reports of Islamic philanthropic organizations. The results indicate that digitizing Islamic propagation finances through e-wallets, crowdfunding, and blockchain can increase efficiency, transparency, and access to new donors. Furthermore, diversifying funding sources through the development of social enterprises, sharia cooperatives, and productive waqf has the potential to strengthen the financial independence of Islamic propagation institutions. However, this transformation faces challenges such as limited professional human resources, cybersecurity risks, and the need for accountable digital governance. This study recommends a roadmap for financial independence for Islamic religious institutions encompassing five pillars: strengthening internal capacity, digital product innovation, funding diversification, cross-sector collaboration, and governance and regulatory reform. By implementing adaptive strategies based on Sharia principles, Islamic religious institutions have the potential to become key actors in the development of the Muslim economy and sustainable social transformation in this disruptive era.
Keywords
Islamic Propagation Finance, Innovation, Social Entrepreneurship, Disruptive
Article Details
References
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Antonio, M. S. (2001). Bank Syariah: Dari Teori ke Praktik. Gema Insani.
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Hasan, Z. (2014). Islamic Finance: Principles and Practice. Edinburgh University Press.
Hendarto, R. (2018). Wakaf Produktif dan Kemandirian Ekonomi. Rajawali Press.
Huda, N. (2016). Ekonomi Pembangunan Islam. Kencana.
Huda, N., & Sawarjuwono, T. (2017). Pengelolaan Keuangan Organisasi Zakat Berbasis Akuntabilitas dan Transparansi. Jurnal Akuntansi Multiparadigma, 8(3), 511–526.
IFQ Journal. (2019). Special Issue: Philanthropy and Technology.
Kamaruddin, M.I.H., Muhamed, N.A., Radzi, R.M. et al. Financial management practices in Islamic donation-based crowdfunding (DCF) platforms in Malaysia. Futur Bus J 9, 32 (2023). https://doi.org/10.1186/s43093-023-00210-7
Kotler, P. (2017). Marketing 4.0: Moving from Traditional to Digital. Wiley.
Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System.
Nugroho, A. (2019). Digitalisasi Filantropi Islam di Indonesia. Jurnal Ekonomi Syariah, 3(2), 45-67.
Nurhayati, S., & Wasilah. (2020). Akuntansi Syariah di Indonesia. Jakarta: Salemba Empat.
OECD. (2020). Digital Disruption in Financial Services. OECD Publishing.
Porter, M. E. (2008). Competitive Advantage. Free Press.
Punuh, Waraney Alfonsus Matthew, and Hani Sirine. 2024. “Religious Organizations Development through Social Entrepreneurship Activity: Opportunities and Challenges from Stakeholders’ Perspective”. Proceeding of the International Conference on Multidisciplinary Research for Sustainable Innovation 1 (August):322-30. https://doi.org/10.31098/icmrsi.v1i.813.
Rifai, A. (2020). Literasi Keuangan Syariah di Era Digital. Jurnal Keuangan Islam.
Rumah Zakat. (2018-2022). Annual Reports.
Sari, D. (2021). Crowdfunding Syariah di Indonesia. Jurnal Ekonomi Islam.
Schumpeter, J.A. (1942). Capitalism, Socialism, and Democracy. New York: Harper & Brothers.
Schueffel, P. (2016). Taming the Fintech Disruption. Technology Innovation Management Review.
Schwab, K. (2017). The Fourth Industrial Revolution. World Economic Forum.
Shulthoni, Muhammad, Norma Md Saad, Saim Kayadibi, and Muhammad Irwan Ariffin. 2018. “WAQF FUNDRAISING MANAGEMENT: A PROPOSAL FOR A SUSTAINABLE FINANCE OF THE WAQF INSTITUTIONS”. Journal of Islamic Monetary Economics and Finance 3 (May): 153-78. https://doi.org/10.21098/jimf.v3i0.776.
Teece, D.J., Pisano, G., & Shuen, A. (1997). Dynamic Capabilities and Strategic Management. Strategic Management Journal, 18(7), 509–533.
Wanda, S. (2025, April 15). Fintech-Based Crowdfunding System for Zakat Collection: An Innovation in Social Funding in the Digital Era. Indonesian Conference of Zakat - Proceedings, 524-535. https://doi.org/https://doi.org/10.37706/iconz.2024.922
World Bank. (2020). Digital Financial Inclusion. Washington: World Bank.
Yunus, M. (2010). Building Social Business. Public Affairs.
Zubaedi. (2012). Pengembangan Masyarakat: Wacana dan Praktik. Kencana.
References
Ahmad, A. (2010). Filantropi Islam dan Tata Kelola. Jakarta: Pustaka.
Antonio, M. S. (2001). Bank Syariah: Dari Teori ke Praktik. Gema Insani.
Anthony, R.N., & Young, D.W. (2003). Management Control in Nonprofit Organizations. McGraw-Hill.
Al-Faruqi, I.R. (1982). Islamization of Knowledge. Herndon: IIIT.
Bank Indonesia. (2021). Ekonomi dan Keuangan Syariah di Era Digital. Jakarta: BI.
Baznas. (2020). Laporan dan Kebijakan Pengelolaan Zakat.
Beik, I. S. (2015). Manajemen Zakat dan Wakaf di Era Modern. Kencana.
Christensen, C. M. (2016). The Innovator’s Dilemma. Harvard Business Review Press.
Cipriano, Michele, Stefano Za. 2025. “Exploring the discourse on digital transformation in nonprofit organizations”. Information & Management. Volume 62, Issue 6. https://doi.org/10.1016/j.im.2025.104165.
Creswell, J. W. (2014). Research Design: Qualitative, Quantitative, and Mixed Methods Approaches. Sage.
Chesbrough, H. (2003). Open Innovation: The New Imperative for Creating and Profiting from Technology. Harvard Business School Press.
Dees, J. G. (2001). The Meaning of Social Entrepreneurship. Stanford University.
Dompet Dhuafa. (2019-2022). Laporan Tahunan.
Drucker, P. F. (2006). Innovation and Entrepreneurship. Harper Business.
Fauzia, A. (2017). Filantropi Islam: Sejarah dan Kontestasi. Gramedia.
Godefroid, M.-E., Plattfaut, R., & Niehaves, B. (2024). Identifying key barriers to nonprofit organizations' adoption of technology innovations. Nonprofit Management and Leadership, 35(1), 237–259. https://doi.org/10.1002/nml.21609
Hafidhuddin, D. (2013). Manajemen Dakwah. Gema Insani.
Hasan, Z. (2011). Shariah Governance and Ethics in Islamic Finance. Journal of Islamic Studies.
Hasan, Z. (2014). Islamic Finance: Principles and Practice. Edinburgh University Press.
Hendarto, R. (2018). Wakaf Produktif dan Kemandirian Ekonomi. Rajawali Press.
Huda, N. (2016). Ekonomi Pembangunan Islam. Kencana.
Huda, N., & Sawarjuwono, T. (2017). Pengelolaan Keuangan Organisasi Zakat Berbasis Akuntabilitas dan Transparansi. Jurnal Akuntansi Multiparadigma, 8(3), 511–526.
IFQ Journal. (2019). Special Issue: Philanthropy and Technology.
Kamaruddin, M.I.H., Muhamed, N.A., Radzi, R.M. et al. Financial management practices in Islamic donation-based crowdfunding (DCF) platforms in Malaysia. Futur Bus J 9, 32 (2023). https://doi.org/10.1186/s43093-023-00210-7
Kotler, P. (2017). Marketing 4.0: Moving from Traditional to Digital. Wiley.
Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System.
Nugroho, A. (2019). Digitalisasi Filantropi Islam di Indonesia. Jurnal Ekonomi Syariah, 3(2), 45-67.
Nurhayati, S., & Wasilah. (2020). Akuntansi Syariah di Indonesia. Jakarta: Salemba Empat.
OECD. (2020). Digital Disruption in Financial Services. OECD Publishing.
Porter, M. E. (2008). Competitive Advantage. Free Press.
Punuh, Waraney Alfonsus Matthew, and Hani Sirine. 2024. “Religious Organizations Development through Social Entrepreneurship Activity: Opportunities and Challenges from Stakeholders’ Perspective”. Proceeding of the International Conference on Multidisciplinary Research for Sustainable Innovation 1 (August):322-30. https://doi.org/10.31098/icmrsi.v1i.813.
Rifai, A. (2020). Literasi Keuangan Syariah di Era Digital. Jurnal Keuangan Islam.
Rumah Zakat. (2018-2022). Annual Reports.
Sari, D. (2021). Crowdfunding Syariah di Indonesia. Jurnal Ekonomi Islam.
Schumpeter, J.A. (1942). Capitalism, Socialism, and Democracy. New York: Harper & Brothers.
Schueffel, P. (2016). Taming the Fintech Disruption. Technology Innovation Management Review.
Schwab, K. (2017). The Fourth Industrial Revolution. World Economic Forum.
Shulthoni, Muhammad, Norma Md Saad, Saim Kayadibi, and Muhammad Irwan Ariffin. 2018. “WAQF FUNDRAISING MANAGEMENT: A PROPOSAL FOR A SUSTAINABLE FINANCE OF THE WAQF INSTITUTIONS”. Journal of Islamic Monetary Economics and Finance 3 (May): 153-78. https://doi.org/10.21098/jimf.v3i0.776.
Teece, D.J., Pisano, G., & Shuen, A. (1997). Dynamic Capabilities and Strategic Management. Strategic Management Journal, 18(7), 509–533.
Wanda, S. (2025, April 15). Fintech-Based Crowdfunding System for Zakat Collection: An Innovation in Social Funding in the Digital Era. Indonesian Conference of Zakat - Proceedings, 524-535. https://doi.org/https://doi.org/10.37706/iconz.2024.922
World Bank. (2020). Digital Financial Inclusion. Washington: World Bank.
Yunus, M. (2010). Building Social Business. Public Affairs.
Zubaedi. (2012). Pengembangan Masyarakat: Wacana dan Praktik. Kencana.
Antonio, M. S. (2001). Bank Syariah: Dari Teori ke Praktik. Gema Insani.
Anthony, R.N., & Young, D.W. (2003). Management Control in Nonprofit Organizations. McGraw-Hill.
Al-Faruqi, I.R. (1982). Islamization of Knowledge. Herndon: IIIT.
Bank Indonesia. (2021). Ekonomi dan Keuangan Syariah di Era Digital. Jakarta: BI.
Baznas. (2020). Laporan dan Kebijakan Pengelolaan Zakat.
Beik, I. S. (2015). Manajemen Zakat dan Wakaf di Era Modern. Kencana.
Christensen, C. M. (2016). The Innovator’s Dilemma. Harvard Business Review Press.
Cipriano, Michele, Stefano Za. 2025. “Exploring the discourse on digital transformation in nonprofit organizations”. Information & Management. Volume 62, Issue 6. https://doi.org/10.1016/j.im.2025.104165.
Creswell, J. W. (2014). Research Design: Qualitative, Quantitative, and Mixed Methods Approaches. Sage.
Chesbrough, H. (2003). Open Innovation: The New Imperative for Creating and Profiting from Technology. Harvard Business School Press.
Dees, J. G. (2001). The Meaning of Social Entrepreneurship. Stanford University.
Dompet Dhuafa. (2019-2022). Laporan Tahunan.
Drucker, P. F. (2006). Innovation and Entrepreneurship. Harper Business.
Fauzia, A. (2017). Filantropi Islam: Sejarah dan Kontestasi. Gramedia.
Godefroid, M.-E., Plattfaut, R., & Niehaves, B. (2024). Identifying key barriers to nonprofit organizations' adoption of technology innovations. Nonprofit Management and Leadership, 35(1), 237–259. https://doi.org/10.1002/nml.21609
Hafidhuddin, D. (2013). Manajemen Dakwah. Gema Insani.
Hasan, Z. (2011). Shariah Governance and Ethics in Islamic Finance. Journal of Islamic Studies.
Hasan, Z. (2014). Islamic Finance: Principles and Practice. Edinburgh University Press.
Hendarto, R. (2018). Wakaf Produktif dan Kemandirian Ekonomi. Rajawali Press.
Huda, N. (2016). Ekonomi Pembangunan Islam. Kencana.
Huda, N., & Sawarjuwono, T. (2017). Pengelolaan Keuangan Organisasi Zakat Berbasis Akuntabilitas dan Transparansi. Jurnal Akuntansi Multiparadigma, 8(3), 511–526.
IFQ Journal. (2019). Special Issue: Philanthropy and Technology.
Kamaruddin, M.I.H., Muhamed, N.A., Radzi, R.M. et al. Financial management practices in Islamic donation-based crowdfunding (DCF) platforms in Malaysia. Futur Bus J 9, 32 (2023). https://doi.org/10.1186/s43093-023-00210-7
Kotler, P. (2017). Marketing 4.0: Moving from Traditional to Digital. Wiley.
Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System.
Nugroho, A. (2019). Digitalisasi Filantropi Islam di Indonesia. Jurnal Ekonomi Syariah, 3(2), 45-67.
Nurhayati, S., & Wasilah. (2020). Akuntansi Syariah di Indonesia. Jakarta: Salemba Empat.
OECD. (2020). Digital Disruption in Financial Services. OECD Publishing.
Porter, M. E. (2008). Competitive Advantage. Free Press.
Punuh, Waraney Alfonsus Matthew, and Hani Sirine. 2024. “Religious Organizations Development through Social Entrepreneurship Activity: Opportunities and Challenges from Stakeholders’ Perspective”. Proceeding of the International Conference on Multidisciplinary Research for Sustainable Innovation 1 (August):322-30. https://doi.org/10.31098/icmrsi.v1i.813.
Rifai, A. (2020). Literasi Keuangan Syariah di Era Digital. Jurnal Keuangan Islam.
Rumah Zakat. (2018-2022). Annual Reports.
Sari, D. (2021). Crowdfunding Syariah di Indonesia. Jurnal Ekonomi Islam.
Schumpeter, J.A. (1942). Capitalism, Socialism, and Democracy. New York: Harper & Brothers.
Schueffel, P. (2016). Taming the Fintech Disruption. Technology Innovation Management Review.
Schwab, K. (2017). The Fourth Industrial Revolution. World Economic Forum.
Shulthoni, Muhammad, Norma Md Saad, Saim Kayadibi, and Muhammad Irwan Ariffin. 2018. “WAQF FUNDRAISING MANAGEMENT: A PROPOSAL FOR A SUSTAINABLE FINANCE OF THE WAQF INSTITUTIONS”. Journal of Islamic Monetary Economics and Finance 3 (May): 153-78. https://doi.org/10.21098/jimf.v3i0.776.
Teece, D.J., Pisano, G., & Shuen, A. (1997). Dynamic Capabilities and Strategic Management. Strategic Management Journal, 18(7), 509–533.
Wanda, S. (2025, April 15). Fintech-Based Crowdfunding System for Zakat Collection: An Innovation in Social Funding in the Digital Era. Indonesian Conference of Zakat - Proceedings, 524-535. https://doi.org/https://doi.org/10.37706/iconz.2024.922
World Bank. (2020). Digital Financial Inclusion. Washington: World Bank.
Yunus, M. (2010). Building Social Business. Public Affairs.
Zubaedi. (2012). Pengembangan Masyarakat: Wacana dan Praktik. Kencana.