2025_Developing A Shariah Governance Framework For Islamic Crowdfunding Platforms In Malaysia
| Format: | General Document |
|---|
| _version_ | 1860798358945267712 |
|---|---|
| building | INTELEK Repository |
| collection | Online Access |
| collectionurl | https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection8791 |
| copyright | Copyright©PWB2026 |
| country | Malaysia |
| date | 2025-05-14 |
| format | General Document |
| id | 17452 |
| institution | UniSZA |
| originalfilename | DEVELOPING A SHARIAH GOVERNANCE FRAMEWORK FOR ISLAMIC CROWDFUNDING PLATFORMS IN MALAYSIA (PHD_2025).pdf |
| person | Habibah Solehah Ramli |
| recordtype | oai_dc |
| resourceurl | https://intelek.unisza.edu.my/intelek/pages/view.php?ref=17452 |
| sourcemedia | Server storage Scanned document |
| spelling | 17452 https://intelek.unisza.edu.my/intelek/pages/view.php?ref=17452 https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection8791 General Document Malaysia Library Staff (Top Management) Library Staff (Management) Library Staff (Support) Terengganu Faculty of Business and Management English application/pdf 1.4 Malaysia Public Access Server storage Scanned document Universiti Sultan Zainal Abidin Universiti Sultan Zainal Abidin 277 Risk management Shariah Governance Dissertations, Academic Qualitative Research Copyright©PWB2026 Thesis Islamic Crowdfunding Alternative Financing Crowd funding -- Malaysia Finance -- Religious aspects -- Islam 2025-05-14 Habibah Solehah Ramli Crowdfunding Crowdfunding Platforms Shariah Compliance Equity-based Crowdfunding Donation-based Crowdfunding Shariah Supervision Socio-justice Corporate governance -- Religious aspects -- Islam Financial services industry -- Malaysia 2025_Developing A Shariah Governance Framework For Islamic Crowdfunding Platforms In Malaysia Introduction: Islamic Crowdfunding has emerged as a viable alternative channel for entrepreneurs and community-based projects to fund their early-stage businesses. The rapid development of the internet worldwide has turned crowdfunding into a mechanism that can pool resources from the public to project managers and, alternatively, to traditional financial institutions. However, crowdfunding activities are associated with several issues, mainly in Shariah compliance, due to the absence of a proper monitoring process. This could affect the projects' public trust, fund management, and success. This study aims to propose a Shariah governance framework for Islamic crowdfunding platforms in Malaysia. Methodology: This study applies a qualitative research design in which the data is obtained from semi-structured interviews. These interviews were conducted with 14 related experts who are directly from the crowdfunding industry, Shariah, and Islamic finance. The data was analysed using a thematic approach, comparative, and document analysis. Findings are discussed before a Shariah governance framework for Islamic crowdfunding platforms in Malaysia can be proposed. Result: The study found that a comprehensive Shariah governance framework in terms of Shariah supervision for structure, screening and monitoring process is needed to ensure that crowdfunding activities comply with the Shariah rulings and principles. The crowdfunding philosophy aligns with Shariah’s spirit in encouraging wealth distribution, improving transparency, and promoting socio-justice. This unique alternative financing could support the Islamic finance sector in terms of Shariah compliance aspect. Based on findings and discussions, a Shariah governance framework is crucially needed for crowdfunding platforms proposed for equity-based and donation-based crowdfunding to ensure a rigorous, systematic, and trusted compliance process. Conclusion: The findings of this study are significant in terms of empowering the Islamic crowdfunding industry. This research has made an essential contribution to the existing literature on Shariah governance in crowdfunding, which is still limited. In conclusion, this framework can contribute to the sector regarding practical application to ensure that crowdfunding activities comply with Shariah-compliant aspects. It provides new empirical evidence for policymakers, industry players, and public platforms to mitigate regulatory risks and operate with greater transparency and accountability. If implemented, this research can be used as a reference for relevant strategies and development to achieve better performance in crowdfunding industries. uuid:77f1f213-5f42-4d73-b6c9-eb00815d923d macOS Version 13.2.1 (Build 22D68) Quartz PDFContext DEVELOPING A SHARIAH GOVERNANCE FRAMEWORK FOR ISLAMIC CROWDFUNDING PLATFORMS IN MALAYSIA (PHD_2025).pdf |
| spellingShingle | 2025_Developing A Shariah Governance Framework For Islamic Crowdfunding Platforms In Malaysia |
| state | Terengganu |
| subject | Risk management Dissertations, Academic Crowd funding -- Malaysia Finance -- Religious aspects -- Islam Corporate governance -- Religious aspects -- Islam Financial services industry -- Malaysia |
| summary | Introduction: Islamic Crowdfunding has emerged as a viable alternative channel for entrepreneurs and community-based projects to fund their early-stage businesses. The rapid development of the internet worldwide has turned crowdfunding into a mechanism that can pool resources from the public to project managers and, alternatively, to traditional financial institutions. However, crowdfunding activities are associated with several issues, mainly in Shariah compliance, due to the absence of a proper monitoring process. This could affect the projects' public trust, fund management, and success. This study aims to propose a Shariah governance framework for Islamic crowdfunding platforms in Malaysia. Methodology: This study applies a qualitative research design in which the data is obtained from semi-structured interviews. These interviews were conducted with 14 related experts who are directly from the crowdfunding industry, Shariah, and Islamic finance. The data was analysed using a thematic approach, comparative, and document analysis. Findings are discussed before a Shariah governance framework for Islamic crowdfunding platforms in Malaysia can be proposed. Result: The study found that a comprehensive Shariah governance framework in terms of Shariah supervision for structure, screening and monitoring process is needed to ensure that crowdfunding activities comply with the Shariah rulings and principles. The crowdfunding philosophy aligns with Shariah’s spirit in encouraging wealth distribution, improving transparency, and promoting socio-justice. This unique alternative financing could support the Islamic finance sector in terms of Shariah compliance aspect. Based on findings and discussions, a Shariah governance framework is crucially needed for crowdfunding platforms proposed for equity-based and donation-based crowdfunding to ensure a rigorous, systematic, and trusted compliance process. Conclusion: The findings of this study are significant in terms of empowering the Islamic crowdfunding industry. This research has made an essential contribution to the existing literature on Shariah governance in crowdfunding, which is still limited. In conclusion, this framework can contribute to the sector regarding practical application to ensure that crowdfunding activities comply with Shariah-compliant aspects. It provides new empirical evidence for policymakers, industry players, and public platforms to mitigate regulatory risks and operate with greater transparency and accountability. If implemented, this research can be used as a reference for relevant strategies and development to achieve better performance in crowdfunding industries. |
| title | 2025_Developing A Shariah Governance Framework For Islamic Crowdfunding Platforms In Malaysia |
| title_full | 2025_Developing A Shariah Governance Framework For Islamic Crowdfunding Platforms In Malaysia |
| title_fullStr | 2025_Developing A Shariah Governance Framework For Islamic Crowdfunding Platforms In Malaysia |
| title_full_unstemmed | 2025_Developing A Shariah Governance Framework For Islamic Crowdfunding Platforms In Malaysia |
| title_short | 2025_Developing A Shariah Governance Framework For Islamic Crowdfunding Platforms In Malaysia |
| title_sort | 2025_developing a shariah governance framework for islamic crowdfunding platforms in malaysia |