Master in Waqf Economics

Our intensive two-year full-time master programme is designed to provide rigorous training on waqf studies, giving students the opportunity to develop advanced analytical and technical skills which are highly sought after by waqf institution.

When waqf is managed with professionalism, it could continue to provide socio-economic benefits to the society perpetually. ICAST offers this programme as a cross-disciplinary, specialised programme, aiming to provide Islamic Economics-related knowledge and skills to students who, at the same time, specialise in waqf. This programme, specifically, involves quantitative methods in the analysis of Islamic and conventional economics.


Choose Your Programme

ICAST offers Master by coursework and by research programme, so students can do their research programme by project or thesis mode.

1. Course Work & Intensive Literary Research

A broad and in-depth understanding of key and contemporary topics in waqf, from which students can then launch into more detailed investigation of research literature. The coursework requirements include research seminars of waqf, with the objective of students toward current research frontiers.

2. Internship & Field Research (Methodology)

Integrate accredited academic coursework with period of supervised, relevant experiences in the waqf institutions. This programme involves comprehensive, independent research under the supervision of waqf academic experts. It does not only provide students with an opportunity to learn theories of waqf but also a platform to make waqf a result-oriented investment.


Focus your studies through tailored route

To help student stand out in the development of waqf management in various industries, they can choose from a wide range of modules to customise their degree as a magister of waqf. A comprehensive and practical curriculum which comprises all relevant areas in Waqf and Asset Management provide students with a comprehensive understanding of various derivaties of model, products, processes and waqf disciplines.

To remain at the forefront of the latest thinking, we constantly develop our curriculum and learning methods by drawing on innovative research and practice.

Each programme consists of eighteen taught modules – sixteen cores and four electives – and culminates in a waqf research project or thesis. To remain at the forefront of the latest thinking, we constantly develop our curriculum and learning methods by drawing on innovative research and practice. The table below summarises which modules are core or elective (i.e. optional) for each degree routes.



Core Module

The course will provide a broad overview and analysis of waqf. The main emphasis is to put on the law of waqf. The institutional structure of Muslim-majority countries’ waqf will be slightly examined, and student will have the opportunity to visit the Waqf Board in Indonesia and other countries, and at the same time getting involved in waqf management in waqf institution, managing, analysing, solving the problems and providing solutions to unproductive waqf asset. Finally, the main issues of doing waqf will also be addressed.

Elective Module

The student will have the opportunity to choose a tailored option that aims to provide an analysis of “Entrepreneurship and Waqf”, “Economics and Waqf”, “Waqf Law” or “Advanced Finance in Waqf” with half of the courses being given on the specific topics. It develops students’ grasp of waqf, economics and policy issues and especially their interactions.


ICAST course list – international awqaf – unida gontor – pesantren universitas terbaik – islamic heritage
career – university of darussalam gontor


With the growth of entrepreneurs who represent part of their assets, perpetual or temporary, a waqf investment manager is needed. Graduates are expected to become waqf investment managers, waqf pioneers or consultant for waqf education.

Waqf Consultant

able to analyse and conclude the concepts of the verses of Qur’an and Hadith that relate to the practice of contemporary waqf then give the views to solve economic and social problems.

Waqf Entrepreneur

able to analyse the development and investment planning on a global scale based on waqf theory and fiqh.

Professional Waqf Manager

able to decipher and integrate the concept of waqf to the real economic practices.


able to prepare human resources to understand waqf and be ready to continue to higher education.


able to analyse waqf issues in economic and social sciences based on the concept of qualitative and quantitative research methodologies.

Waqf Regulator

able to analyse and conclude the appropriate policy concept of the verses of Qur’an and Hadith related to the practice of contemporary waqf.