In a fast-changing financial world, managing Islamic endowments or waqf has become very important for new ideas, especially in KSA. The use of blockchain technology offers a big chance to improve transparency and accountability in waqf management, fixing ongoing issues like poor management and low trust among those involved. By using decentralized ledgers, blockchain can make contract management better, making sure the wishes of waqf founders are followed with automated, smart contracts (Nur Hidayah Laili et al., 2023). Also, using blockchain can help create and manage cash flow efficiently, avoiding the financial problems that have affected waqf institutions for a long time. This study looks at these changes, examining how blockchain can make operations simpler and reinvigorate the waqf system in KSA. This research is important not just for tech progress but also for the chance to create a more sustainable socio-economic setting (Siti Zulaikha et al., 2018, p. 1152–1158). This also shows the governance and operational difficulties of waqf fund management while highlighting the organizational changes that blockchain technology could bring.

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The Impact of Blockchain on Contract Management and Cash Flow in Awqaf Management for Saudi Arabia

  • Zain F. Aladwani

摘要

In a fast-changing financial world, managing Islamic endowments or waqf has become very important for new ideas, especially in KSA. The use of blockchain technology offers a big chance to improve transparency and accountability in waqf management, fixing ongoing issues like poor management and low trust among those involved. By using decentralized ledgers, blockchain can make contract management better, making sure the wishes of waqf founders are followed with automated, smart contracts (Nur Hidayah Laili et al., 2023). Also, using blockchain can help create and manage cash flow efficiently, avoiding the financial problems that have affected waqf institutions for a long time. This study looks at these changes, examining how blockchain can make operations simpler and reinvigorate the waqf system in KSA. This research is important not just for tech progress but also for the chance to create a more sustainable socio-economic setting (Siti Zulaikha et al., 2018, p. 1152–1158). This also shows the governance and operational difficulties of waqf fund management while highlighting the organizational changes that blockchain technology could bring.