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Higher education is over dependent on\udpublic funds, cash endowments and business\udcontributions which are non-perpetual and may\udonly concern the current and immediate future\udgenerations.A resource-based corporate waqf\udto develop and sustain the higher education\udsectorwill be explored in this paper.Theresourcebased\ud(from output of harnessing water, energy,\udland banks and forests) corporate waqf financing\udare by itself inherently perpetual and sustainable.\udHowever, the conventionaltheory of perpetual\udresource flows across state’s borders may\udconstrain the inter-state flow of waqf funds.\udAn Islamic economic theoretical framework\udof resource-based corporate waqf financing is\udexplored in this study. The optimization of costeffective\udallocation of burdens of responsibility\udbetween many sources (power generators)\udand receptors (higher education institutions,\udstudents) of corporate waqf is modelled. A\udliterature review of Islamic approachesreveal\udfor example, the Islamic principles of Al-\udHisbah (administration of public interest) that\udcan minimize the burdens to be shared by the\udinter-state sourcesand receptors in the interstate\udmodel

A Conceptual Model for Inter-State Corporate Waqf Financing for Higher Learning