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A qualitative investigation into crowdfunding framework as a source of financing for waqf land development

Hapsari, Meri Indri and Mohd Thas Thaker, Mohamed Asmy and Omar Mohamad, Mustafa and Duasa, Jarita (2022) A qualitative investigation into crowdfunding framework as a source of financing for waqf land development. Journal of Islamic Accounting and Business Research, 13 (3). pp. 425-443. ISSN 1759-0817 E-ISSN 1759-0825

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Abstract

Purpose –This paper aims to inquire about the opinions and recommendations of various experts on the crowdfunding waqf model (CWM), particularly in terms of its suitability, applicability and prospect in the market. Design/methodology/approach –This paper used primary data which are collected from semi-structured interviews conducted with several experts from various backgrounds. For examining the data, thispaper has used thematic analysis. Findings –The experts support the suitability of CWM in providing financing resource to develop waqf lands. They highlight the importance of establishing, managing and operating CWM under the aegis of the State Islamic Religious Council in Malaysia and supervising by the Wakaf, Zakat or Hajj Department (JAWHAR). They further point out that the donors or crowdfunders, interesting project, promotion and regulation are key factors that influence the sustainability of CWM. Originality/value –This paper adds to the literature on waqf land and crowdfunding, especially from the Malaysian context. This paper validates the CWM in terms of its suitability, applicability and prospect in the market by interviewing experts from various backgrounds.

Item Type: Article (Journal)
Additional Information: 3479/95411
Uncontrolled Keywords: Sustainable infrastructure, Thematic analysis, Crowdfunding, Waqf land, Financing of waqf, Crowdfunding waqf model (CWM)
Subjects: BPH Islamic Economics > BPH741 Waqf
H Social Sciences > HD Industries. Land use. Labor > HD101 Land use
H Social Sciences > HG Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Economics and Management Sciences
Kulliyyah of Economics and Management Sciences > Department of Economics
Depositing User: Prof. Dr. Jarita Duasa
Date Deposited: 13 Apr 2022 11:41
Last Modified: 13 Apr 2022 11:41
URI: http://irep.iium.edu.my/id/eprint/95411

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