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

Meri Indri Hapsari (Department of Economics, International Islamic University Malaysia, Gombak, Malaysia and Faculty of Economics and Business, Universitas Airlangga, Surabaya, Indonesia and Lembaga Pengelola Dana Pendidikan (LPDP), Jakarta, Indonesia)
Mohamed Asmy Bin Mohd Thas Thaker (Department of Economics, International Islamic University Malaysia, Gombak, Malaysia)
Mustafa Omar Mohammed (Department of Economics, International Islamic University Malaysia, Gombak, Malaysia)
Jarita Duasa (Department of Economics, International Islamic University Malaysia, Gombak, Malaysia)

Journal of Islamic Accounting and Business Research

ISSN: 1759-0817

Article publication date: 14 December 2021

Issue publication date: 11 March 2022

733

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, this paper 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.

Keywords

Acknowledgements

The authors acknowledge the contributions of all parties who have supported and assisted in providing data and information for the purpose of this study.

Citation

Hapsari, M.I., Bin Mohd Thas Thaker, M.A., Mohammed, M.O. and Duasa, J. (2022), "A qualitative investigation into crowdfunding framework as a source of financing for waqf land development", Journal of Islamic Accounting and Business Research, Vol. 13 No. 3, pp. 425-443. https://doi.org/10.1108/JIABR-10-2020-0311

Publisher

:

Emerald Publishing Limited

Copyright © 2021, Emerald Publishing Limited

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