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

Meri Indri Hapsari, Mohamed Asmy Bin Mohd Thas Thaker, Mustafa Omar Mohammed and Jarita Duasa

Journal of Islamic Accounting and Business Research, 2021, vol. 13, issue 3, 425-443

Abstract: Purpose - This paper aims to inquire about the opinions and recommendations of various experts on the crowdfundingwaqfmodel (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, this paper has used thematic analysis. Findings - The experts support the suitability of CWM in providing financing resource to developwaqflands. 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 onwaqfland 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.

Keywords: Sustainable infrastructure; Thematic analysis; Crowdfunding; Waqf land; Financing of waqf; Crowdfunding waqf model (CWM) (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jiabrp:jiabr-10-2020-0311

DOI: 10.1108/JIABR-10-2020-0311

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