Waqf-Based Healthcare Services Model (Whs-M): A Proposed Model an Alternative Financing Mode for the Health Sector

Health is regarded as the core of a nation's existence. Its absence can create discord for the individual and society as a whole. Recent phenomena of the COVID-19 pandemic outbreak, which has infiltrated the lives of the masses, have wreaked havoc on the health and well-being of people worldwide. Undoubtedly, the absence of health can generate a magnetic field that attracts an abundance of funds to mitigate or treat this pandemic and other emerging diseases. This is partially due to the inextricable relationship between wealth and health. This paper focuses on how the integration between Islamic finance instruments, namely waqf and sukuk, can develop the health and well-being of individuals by proposing a new model (WSMHS). In addition, this study is conceptual, which needs further investigations using more sophisticated qualitative and/or quantitative methods.