Islamic venture philanthropy: A tool for sustainable community development

This research proposes Islamic venture philanthropy as a tool for sustainable community development, interpreting Islamic philanthropic practices like zakat, waqf, and sadaqah through conventional venture philanthropy models. It suggests tailoring financing mechanisms, including professional financial advice, to build strong communities. Despite an estimated annual philanthropic giving of USD 250 billion to 1 trillion in Muslim communities, concerns exist regarding mismanagement. The paper advocates for the effective application and execution of these funds to foster sustainable social impact and enhance community welfare.