Yogyakarta, May 20, 2025 — Students of the Master’s Program in Islamic Economics (MES) at UIN Sunan Kalijaga Yogyakarta reaffirmed their commitment to strengthening global academic literacy by participating in an International Stadium Generale entitled “Harnessing Family Waqf and Islamic Social Finance: Quranic Foundations for Education, Prosperity, and Well-being.”
The event was organized by the Master’s Program in Sharia Banking (MKS) in collaboration with all study programs within the Faculty of Islamic Economics and Business (FEBI), UIN Sunan Kalijaga.

This activity formed part of MES UIN Sunan Kalijaga’s internationalization strategy, bringing together academics, students, and practitioners from various countries to discuss the significant potential of family waqf, zakat, and Islamic social finance as instruments for sustainability and community well-being. The main speakers were Muhammad Hamizan Abd Hamid, Ph.D., from Universiti Teknologi MARA, and Agus Faisal, S.E.I., M.E.I., a lecturer in the Master’s Program in Islamic Economics at UIN Sunan Kalijaga.

Fostering Scholarly Collaboration and Qur’anic Spirit

The event commenced with the recitation of verses from the Holy Qur’an, followed by the Indonesian national anthem and the UIN Sunan Kalijaga hymn. In the opening remarks, the MES leadership emphasized that such activities represent a tangible manifestation of transnational scholarly collaboration in Islamic studies, while also serving as a strategic step toward expanding sustainable academic networks across ASEAN and the broader Muslim world.

The forum attracted hundreds of participants, both onsite and online, from national and international academic communities. The high level of participation reflected the urgency and relevance of the issues discussed in addressing global socio-economic challenges faced by Muslim societies.

Revitalizing the Potential of Family Waqf: Presentation by Dr. Hamizan

In the first session, Dr. Hamizan delivered a presentation entitled “Revitalizing Family Waqf for Education and Skill Development.” He emphasized the importance of positioning family waqf as a philanthropic instrument that is not only spiritual in nature but also productive and empowerment-oriented.

He proposed the establishment of family waqf corporations as professional and transparent entities for managing waqf assets. The utilization of waqf, he argued, should be directed toward education, vocational training (TVET), microfinance, and family-based economic empowerment. Furthermore, he highlighted the need for harmonization between Islamic law, state regulations, and fiscal incentives to strengthen waqf governance systems.

Zakat Roadmap 2045: Strategies toward Indonesia Emas

The subsequent session was delivered by Agus Faisal, who presented the “Indonesian Zakat Roadmap 2045.” He emphasized the strategic role of zakat as a pillar in building a national welfare system. The roadmap includes strategies for enhancing zakat literacy, strengthening institutional capacity, regulatory reform, and integration with the Sustainable Development Goals (SDGs).

He also introduced the Zakat Village concept as a community-based empowerment laboratory, as well as the Cash Waqf Linked Sukuk (CWLS) as an Islamic financial innovation that connects waqf with sustainable and inclusive national development.

MES as a Hub for the Development of Islamic Social Finance

This International Stadium Generale reinforced the position of the Master’s Program in Islamic Economics at UIN Sunan Kalijaga as a driving force for innovation and research in the field of Islamic Social Finance. The forum served as a strategic platform to encourage international collaboration in research, scholarly publication, and the implementation of social programs grounded in Qur’anic values.

Beyond enriching academic perspectives, the event also inspired students and lecturers to expand their contributions to community development through interdisciplinary and innovative approaches.

The event concluded with the presentation of tokens of appreciation to the speakers and a joint documentation session with all participants. Several key recommendations emerged from the forum, including the establishment of cross-country research consortia for family waqf development, digitalization of national waqf and zakat asset data, and the implementation of good governance principles in Islamic social finance management.

With a collaborative spirit, global vision, and inspiration drawn from revelatory values, this International Stadium Generale is expected to become a significant milestone in strengthening Indonesia’s role as a global leader in the development of Islamic social finance.