The Islamic crowdfunding concept despite of no history as such in the past are still much demanded and appraised in the Islamic as well as conventional economies. Also, in the backdrop of a rising global Muslim population, attractiveness of the much necessitated halal products and services and increasingly conscious investors, the Islamic CF platform will serve to narrow the financing/funding gap which is currently posing a threat to striving entrepreneurships and subsequent economic growth and social benefit, especially in low-income and developing economies. Islamic value driven approach fits well within the growing fascination towards socially responsible and ethical investing. This paper has discussed the Islamic CF portals available in the Muslim world and how their mechanism is being applied. These platforms are not limited to Muslim communities rather they are general public focused and economic growth driven engines which if used with efficacy can result in astounding results.. We believe that if Islamic CF is made available to the financially inclusive economies, it will be beneficial for them for their development. Furthermore, to overcome religious and social barriers in order to vitalize economic progress resulting from innovative and creative entrepreneurship, Islamic CF platform will follow a more proactive approach regarding those projects which create positive value, over and above financial gain, such as those supporting the growth of green economies, conservation of resources, sustainable development, job creation and specifically, etc.
Inhaltsverzeichnis (Table of Contents)
- Introduction, problem statement and research objectives
- Literature Review
- Islamic Crowd Funding: Mechanism and Challenges
- Advantages of Islamic Crowd Funding
- ICF Portals and their mechanism
- Regulatory framework for ICF
- Conclusion and Recommendations
- References
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper explores the application of crowdfunding within the framework of Islamic Finance, analyzing its mechanisms and challenges. It aims to highlight the potential of Islamic crowdfunding (ICF) to bridge the financing gap for entrepreneurs, particularly in emerging economies, and to demonstrate its alignment with Islamic values.
- Islamic crowdfunding as a solution for financial inclusion and economic growth
- The integration of Islamic values into crowdfunding platforms
- The mechanism and challenges of implementing Islamic crowdfunding
- The role of ICF in supporting ethical and socially responsible investments
- The potential of ICF in promoting innovation and development in halal products and services
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction, problem statement and research objectives: This chapter introduces the concept of crowdfunding and its potential in the context of Islamic finance. It highlights the challenges faced by Islamic financial institutions in supporting SMEs and entrepreneurs, and how crowdfunding can serve as a novel approach to address these challenges.
- Literature Review: This chapter provides a comprehensive overview of existing literature on crowdfunding and its intersection with Islamic finance. It explores various perspectives on the topic, drawing upon relevant research and theoretical frameworks.
- Islamic Crowd Funding: Mechanism and Challenges: This chapter delves into the mechanism of Islamic crowdfunding, examining how its principles align with Islamic financial principles. It discusses key challenges related to Shariah compliance, regulatory frameworks, and the development of ICF platforms.
- Advantages of Islamic Crowd Funding: This chapter analyzes the advantages of Islamic crowdfunding, emphasizing its role in promoting financial inclusion, supporting social enterprises, and fostering innovation within halal sectors.
- ICF Portals and their mechanism: This chapter explores the existing ICF portals in the Muslim world, examining their structure, operations, and how they implement Islamic financial principles.
- Regulatory framework for ICF: This chapter focuses on the regulatory framework for ICF, discussing the challenges and opportunities for developing a supportive regulatory environment that facilitates the growth of ICF platforms.
Schlüsselwörter (Keywords)
This paper focuses on the intersection of Islamic finance and crowdfunding, examining the potential of Islamic crowdfunding as a solution for financial inclusion, economic growth, and ethical investment. The key concepts include Islamic Finance, Crowd Funding, Entrepreneurship, SME, and Economic Growth, highlighting the intersection of these areas within the context of Islamic values and principles.
- Citation du texte
- Salman Syed (Auteur), 2014, Crowd Funding and its Application in Islamic Finance. Issues and Challenges, Munich, GRIN Verlag, https://www.grin.com/document/430187
