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Article
Publication date: 7 September 2023

Muhammad Shahrul Ifwat Ishak and Nur Syahirah Mohammad Nasir

The purpose of this study is to analyse potential models of Islamic crowdfunding as an alternative financing option for micro-entrepreneurs in Malaysia. While crowdfunding has…

Abstract

Purpose

The purpose of this study is to analyse potential models of Islamic crowdfunding as an alternative financing option for micro-entrepreneurs in Malaysia. While crowdfunding has gained traction as an alternative funding source for businesses, it is unclear how far this concept can benefit a group of micro-entrepreneurs in Malaysia.

Design/methodology/approach

This study uses a qualitative research approach by using data collected through semi-structured interviews with several experts and practitioners in crowdfunding, Shariah and entrepreneurship. Prior to discussing the facets of the findings, the data were analysed based on a thematic approach.

Findings

The findings reveal that while previous works of related literature suggest crowdfunding as a viable alternative financing option for entrepreneurs and their businesses, in reality, its practical implementation presents challenges. Numerous micro-entrepreneurs need more training in the areas of management and marketing. Such concerns raise questions about their ability to attract potential project backers. With the proper selection of Shariah contracts and several approaches to risk management, Islamic crowdfunding can potentially become an alternative funding source for microbusinesses.

Research limitations/implications

Given the exploratory nature of this study regarding the applicability of Islamic crowdfunding as an alternative fund for micro-entrepreneurs, its findings may not fully encompass Malaysia’s context because of the limited number of participants involved.

Practical implications

The findings of this study offer guidelines on how to implement Islamic crowdfunding for micro-entrepreneurs. Consequently, Islamic crowdfunding has the potential to alleviate the government’s burden of providing funds for micro-enterprises and enhance their skills and mentality to be more independent, creative and able to promote their products.

Social implications

While Islamic crowdfunding can be an alternative opportunity for business enterprises and community-based projects, it promotes the spirit of cooperation and collaboration within society.

Originality/value

Although Islamic crowdfunding is a topic that has been discussed previously, empirical investigations in this area remain scarce, mainly through qualitative approaches. Distinguishing from prior literature, this study analyses several potential models of Islamic crowdfunding from the perspectives of experts, practitioners and related agencies for micro-entrepreneurs. Moreover, this study bridges insights from related literature so that they offer practical applications to support micro-entrepreneurs in Malaysia.

Details

Qualitative Research in Financial Markets, vol. 16 no. 3
Type: Research Article
ISSN: 1755-4179

Keywords

Article
Publication date: 10 May 2024

Shalini Sahni, Sushma Verma and Rahul Pratap Singh Kaurav

The widespread uptake of digital technology tools for online teaching and learning reached its peak during the nationwide lockdown triggered by the COVID-19 pandemic. It…

Abstract

Purpose

The widespread uptake of digital technology tools for online teaching and learning reached its peak during the nationwide lockdown triggered by the COVID-19 pandemic. It transformed the higher education institutions (HEIs) marketplace both in developed and developing countries. However, in this process of digital transformation, several HEIs, specifically from developing countries, faced major challenges. That threatened to affect their sustainability and performance. In this vein, this study conducts a bibliometric review to map the challenges during the COVID-19 pandemic and suggest strategies for HEIs to cope with post-pandemic situations in the future.

Design/methodology/approach

This comprehensive review encompasses 343 papers published between 2020 and 2023, employing a systematic approach that combines bibliometrics and content analysis to thoroughly evaluate the articles.

Findings

The investigation revealed a lack of published work addressing the specific challenges faced by the faculty members affecting their well-being. The study underscores the importance of e-learning technology adoption for higher education sustainability by compelling both students and teachers to rely heavily on social media platforms to maintain social presence and facilitate remote learning. The reduced interpersonal interaction during the pandemic has had negative consequences for academic engagement and professional advancement for both educators and students.

Practical implications

This has implications for policymakers and the management of HEIs, as it may prove useful in reenvisioning and redesigning future curricula. The paper concludes by developing a sustainable learning framework using a blended approach. Additionally, we also provide directions for future research to scholars.

Originality/value

This study has implications for policymakers and HEI management to rethink the delivery of future courses with a focus on education and institute sustainability. Finally, the research also proposes a hybrid learning framework for sustainability and forms a robust foundation for scholars in future research.

Details

Benchmarking: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-5771

Keywords

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