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

• Main Authors: Hapsari, Meri Indri, Mohd Thas Thaker, Mohamed Asmy, Omar Mohamad, Mustafa, Duasa, Jarita
• Format: Article
• Language: English
• Published: Emerald 2022
• Subjects: BPH741 Waqf; HD101 Land use; HG Finance
• Online Access: http://irep.iium.edu.my/95411/1/95411_A%20qualitative%20investigation%20into%20crowdfunding.pdf; http://irep.iium.edu.my/95411/; https://www.emerald.com/insight/content/doi/10.1108/JIABR-10-2020-0311/full/pdf?title=a-qualitative-investigation-into-crowdfunding-framework-as-a-source-of-financing-for-waqf-land-development; https://doi.org/10.1108/JIABR-10-2020-0311

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.