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A discourse on the potential of crowdfunding and Islamic finance in the agricultural sector of East Java, Indonesia

Mohd Thas Thaker, Hassanudin and Mohd. Israil, Khaliq Ahmad and Sekaran, K. Chandra and Mohd Thas Thaker, Mohamed Asmy (2020) A discourse on the potential of crowdfunding and Islamic finance in the agricultural sector of East Java, Indonesia. Jurnal Ekonomi & Keuangan Islam, 6 (1). pp. 10-23. ISSN 2088-9968 E-ISSN 2614-6908

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Abstract

Literature evidence on the transformation transpires agriculture sector in East Java for the last 5 to 10 years. The contribution of the agricultural sector towards East Java gross domestic product (GDP) in 2008 recorded at 16.55%, however, shrinks to 13.75% in 2015. This statistic shows the regressed contribution of the agriculture sector in comparison to other economic sectors. One common view that linked to shrinking in credit composition is due to the lack of credit accessibility for the sector. Given that, this paper attempts to propose a viable financing model to develop the agricultural sector in East Java known as Integrated Agricultural Land Crowdfunding Model (IALCM) using Islamic financing instruments through a crowdfunding platform. This model is expected to offer farmers in East Java to meet theirliquidity constraints and the Indonesian government to accelerate social entrepreneurship innovation with conceivable recommendations forthe development of agricultural sector in East Java

Item Type: Article (Journal)
Additional Information: 1820/78249
Uncontrolled Keywords: Agriculture, crowdfunding, Islamic finance, agricultural sector, East Java
Subjects: 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 (Can select more than one option. Press CONTROL button): Kulliyyah of Economics and Management Sciences > Department of Economics
Institute of Islamic Banking & Finance (IIiBF)
Kulliyyah of Economics and Management Sciences
Depositing User: Dr Mohamed Asmy Bin Mohd Thas Thaker
Date Deposited: 05 Feb 2020 09:16
Last Modified: 05 Feb 2020 09:16
URI: http://irep.iium.edu.my/id/eprint/78249

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