Mapping the Research Landscape of Cash Waqf Linked Sukuk in Indonesia: A Bibliometric Study

Abstract

Cash Waqf Linked Sukuk has emerged as an innovative Islamic social finance instrument integrating philanthropic endowments with sovereign sukuk to support sustainable development in Indonesia. This study aims to systematically map the scholarly landscape of Cash Waqf Linked Sukuk research and identify its thematic evolution, intellectual foundations, and collaboration structures. A bibliometric research design was applied using 302 peer-reviewed journal articles retrieved from the Dimensions database covering the period 2019–2023. Network analyses of publication trends, co-authorship, keyword co-occurrence, citation relationships, and bibliographic coupling were conducted using VOSviewer following data standardization procedures. The results reveal a sharp post-2021 growth in academic output, reflecting policy-driven institutionalization of Cash Waqf Linked Sukuk. Dominant research themes center on institutional governance, public participation, sustainable development integration, and crisis-responsive financing. Citation networks indicate that governance effectiveness and trust-based frameworks form the core intellectual foundation of the field, while impact-oriented studies remain peripheral. Regional collaboration is heavily concentrated in Southeast Asia, with limited global comparative engagement. Overall, the findings demonstrate that Cash Waqf Linked Sukuk scholarship has transitioned from conceptual innovation to applied institutional analysis but remains methodologically imbalanced toward governance rather than socio-economic impact evaluation. This study contributes a comprehensive knowledge mapping of Cash Waqf Linked Sukuk research and highlights strategic directions for advancing impact measurement, comparative analysis, and development finance integration within Islamic social finance scholarship.