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A proposed integrated Islamic crowdfunding - microfinance (IICM) model for poverty reduction: a case study of Indonesia

Mohd Thas Thaker, Mohamed Asmy and Mohd Thas Thaker, Hassanudin and Allah Pitchay, Anwar (2018) A proposed integrated Islamic crowdfunding - microfinance (IICM) model for poverty reduction: a case study of Indonesia. In: The 1st Global Conference on Islamic Economics and Finance (GCIEF 2018), 24th-25th Oct. 2018, Kuala Lumpur.

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Abstract

Poverty is a complex, multi-dimensional phenomena that has captured the attention of numerous scholars and agencies globally including OIC member countries. In order to address this alarming poverty problem, some of the OIC countries have adopted the institution of microfinance as a solution, including in Indonesia. In spite of its expansion, microfinance continues to face the problem of accessing affordable financing. Hence, this paper aims to attempt to offer a viable alternative model of source of financing which is known as Integrated Islamic Crowdfunding- Microfinance (IICM) model for microfinance clients in Indonesia. In order to achieve this objective, literature on the issues of accessing to finance faced by microfinance clients and crowdfunding are reviewed critically and used in the attempt of proposing an alternative model. The proposed model will assist microfinance institutions and clients of Indonesia in identifying sustainable financing source and a viable alternative model for poverty alleviation. Through this, Indonesia will play a leading role among the Muslim countries with the noble idea of Islamic crowdfunding and microfinance in poverty alleviation agenda. It enables policy makers to plan more effective plans/strategies to enhance the potential of Islamic crowdfunding among the Muslim countries in addressing issue of poverty in general.

Item Type: Conference or Workshop Item (Plenary Papers)
Additional Information: 7210/67047
Uncontrolled Keywords: Poverty; Microfinance; Integrated Islamic Crowdfunding- Microfinance (IICM) Model
Subjects: B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > BP1 Islam > BP173.75 Islam and economics
H Social Sciences > H Social Sciences (General)
H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
H Social Sciences > HJ Public Finance > HJ1438 Public Finance In Islam
Kulliyyahs/Centres/Divisions/Institutes: Centre for Islamic Economics
Kulliyyah of Economics and Management Sciences > Department of Economics
Depositing User: Dr Mohamed Asmy Bin Mohd Thas Thaker
Date Deposited: 29 Oct 2018 09:18
Last Modified: 29 Oct 2018 09:19
URI: http://irep.iium.edu.my/id/eprint/67047

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