Integration of Islamic Financial Technology and Ziswaf in the Financing Ecosystem of Islamic Educational Institutions
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Abstract
Islamic educational institutions in Indonesia face significant financing challenges due to minimal government support and dependence on traditional funding sources. This study aims to examine the integration of Islamic financial technology (fintech) and ZISWAF (Zakat, Infaq, Sadaqah, and Waqf) as a sustainable financing solution for Islamic educational institutions. Employing a Systematic Literature Review (SLR) method following the PRISMA 2020 protocol combined with bibliometric analysis using VOSviewer software, this research analyzed 51 studies from Scopus, Web of Science, and Google Scholar databases published between 2019-2025. The findings reveal that ZISWAF potential in Indonesia reaches approximately IDR 507 trillion annually (zakat IDR 327 trillion + cash waqf IDR 180 trillion), yet realization remains below 10%, indicating a significant "realization gap." Integration Model emerges as the dominant research theme (49.43%), followed by Practices and Impacts (24.14%), Issues and Challenges (16.09%), and Behavioral aspects (10.34%). The study concludes that the integration of Islamic fintech and ZISWAF has the potential to be a sustainable financing solution for Islamic educational institutions through improved transparency, collection efficiency, and expanded service access. The developed conceptual framework integrates three main pillars: (1) Islamic fintech platforms as technology enablers, (2) productive ZISWAF instruments as funding sources, and (3) Islamic educational institutions as beneficiaries. The implications of this research provide strategic guidance for policymakers, Islamic financial institutions, and Islamic educational institutions in developing an inclusive and sustainable financing ecosystem based on maqasid al-shariah principles.
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References
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