How FinTech transforms Islamic Social Finance (zakat, waqf, sadaqah) and how this transformation aligns with Maqāṣid al-Sharīʿah and financial stability

This review synthesises empirical and conceptual research on digitalised Islamic social finance, assessing how fintech modalities reshape zakat, waqf and sadaqah collection, deployment and governance and evaluating implications for Maqāṣid‑aligned outcomes and financial stability. Drawing on systematic and bibliometric mapping, the paper identifies five thematic clusters: digital ISF and fintech platforms, Maqāṣid–SDG integration and green finance, Shariah governance and screening, social impact and poverty alleviation, and financial stability interactions. Evidence shows digital wallets, e‑waqf portals, tokenization and blockchain pilots improve collection efficiency, traceability and outreach, while AI and analytics enable impact forecasting and donor segmentation. Persistent fragmentation across institutions, regulation and data limits scale and macroeconomic impact; waqf underutilisation and zakat undercollection exemplify this gap. The corpus reveals methodological strengths in panel econometrics and simulation but highlights scarce causal impact evaluations, missing standardized Maqāṣid–SDG metrics, and underdeveloped digital Shariah governance frameworks. The review therefore proposes a research and policy agenda that prioritises harmonised Maqāṣid–SDG indicators, randomized and quasi‑experimental pilot evaluations, regulatory sandboxes for tokenized waqf and CWLS, interoperable data standards, and digital Shariah control tools to align fintech innovation with distributive and stability goals.