Optimizing Islamic Education Funding Sources: A Review Of Islamic Financial Management

Abstract

This study aims to analyze the strategy for optimizing Islamic education funding sources through a sharia financial management approach. The background of this study is the high dependence of Islamic educational institutions on conventional funding sources such as tuition fees and government assistance, which tend to be unstable and less sustainable. Using a descriptive qualitative approach, data were collected through in-depth interviews, observations, and documentation studies at several Islamic educational institutions that have implemented a sharia financial system. The results of the study indicate that the application of sharia principles in fund management especially from zakat, infaq, sedekah, and waqf (ZISWAF) plays a significant role in increasing the financial independence and efficiency of educational institutions. Strategies such as productive waqf, collaboration with zakat institutions, and digitalization of the financial system have proven effective in increasing community participation and financial transparency. However, the main obstacles are still found in the aspect of sharia financial literacy among managers and the limitations of the sharia-based reporting system. This study concludes that optimizing Islamic education funding sources can only be successful if supported by increased human resource capacity, technological innovation, strengthening institutional cooperation, and commitment to sharia financial principles. This research is expected to be a scientific contribution in the development of a sustainable sharia-based educational financial management model.