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The need for Shariah governance framework for Islamic crowdfunding

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dc.contributor.authorAhmed Aban Zubair
dc.contributor.authorAishath Muneeza
dc.date.accessioned2021-11-02T04:02:50Z
dc.date.available2021-11-02T04:02:50Z
dc.date.issued2021
dc.description.abstractThe concept of crowdfunding entails the process of financing an idea, a project, a person or a cause through the collection of small amounts of money from a large number of providers. There are four types of crowdfunding namely lending or P2P crowdfunding, donation-based, reward-based and equity-based. Islamic crowdfunding provides an opportunity for investors, donors and entrepreneurs to support the socio-economic development of the micro and small enterprises sector in Islamic countries. In the absence of a proper Shariah governance framework applicable for Islamic crowdfunding, there could be cases in which Shariah non-compliance circumstances could occur, and without the implementation of a proper internal Shariah governance framework, it may not be detected within the service provider. For any country that is planning to establish Islamic Banking and a financial structure, the key objectives which they have to follow are systematic stability, an adequate level of compliance with Shariah rules, and an international acceptance of the Islamic banking operations. Malaysia has an Islamic as well as a conventional banking system, and they share the same governance structure and legal framework. With regards to Islamic crowdfunding, it is imperative to determine a proper Shariah governance framework.en_US
dc.identifier.citationZubair, Ahmed Aban and Muneeza, Aishath. (2021). The need for Shariah governance framework for Islamic crowdfunding. The Halal Journal (July 2021). https://blog.ethis.co/shariah-governance-framework-islamic-crowdfunding/en_US
dc.identifier.urihttps://ikr.inceif.edu.my/handle/INCEIF/3473
dc.languageEnglish
dc.language.isoenen_US
dc.publisherEthis Venturesen_US
dc.rights2020. Ethis Ventures
dc.sourceSEDONA
dc.subjectIslamic crowdfundingen_US
dc.subjectShariah governance frameworken_US
dc.subjectIslamic financeen_US
dc.titleThe need for Shariah governance framework for Islamic crowdfundingen_US
dc.typeIndustry Articleen_US
dlc.maintopicIslamic financeen_US
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicIslamic financeen_US
relation.isAuthorOfPublication81014255-5cb8-46bc-ad81-bf6d8a3a0702
relation.isAuthorOfPublication81014255-5cb8-46bc-ad81-bf6d8a3a0702
relation.isAuthorOfPublication81014255-5cb8-46bc-ad81-bf6d8a3a0702
relation.isAuthorOfPublication.latestForDiscovery81014255-5cb8-46bc-ad81-bf6d8a3a0702
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