Blue ocean strategy-based waqf financing and food security resilience: The mediating effect of agro-economic transformation

Abstract

Food security has become an increasingly critical global concern due to population growth, climate change, resource scarcity, and disruptions in agricultural supply chains. Despite the growing recognition of waqf as a sustainable Islamic social finance instrument, existing studies have largely examined its direct contribution to socioeconomic development and food security without adequately explaining the mechanisms through which it enhances food system resilience. Furthermore, limited attention has been given to the integration of strategic management approaches, particularly Blue Ocean Strategy (BOS), within waqf financing initiatives aimed at agricultural development. Therefore, this study aims to develop a conceptual framework that examines the relationship between Blue Ocean Strategy-based waqf financing and food security resilience through the mediating role of agro-economic transformation. This study adopts a narrative review methodology by systematically reviewing relevant literature retrieved from the Scopus database. An integrative thematic analysis approach was employed to identify, analyze, and synthesize key themes, concepts, and theoretical perspectives related to BOS, waqf financing, agro-economic transformation, and food security resilience. The findings suggest that BOS-based waqf financing has the potential to enhance food security resilience by promoting innovative resource mobilization, productive utilization of waqf assets, agricultural modernization, market creation, and rural economic development. The analysis further indicates that agro-economic transformation serves as a critical mediating mechanism, translating strategic waqf financing initiatives into sustainable food system outcomes. The study contributes theoretically by extending Blue Ocean Strategy into the domain of Islamic social finance and integrating insights from strategic management, agricultural economics, and sustainable development. Practically, the proposed framework offers guidance for policymakers, waqf institutions, and development agencies seeking innovative solutions to strengthen food security. Future research should empirically validate the proposed framework across different geographical and institutional contexts and examine additional factors influencing the effectiveness of waqf financing in enhancing food security resilience.