Shariah crowdfunding model for enterpreneurship development in Malaysia

This research studies the real meaning of Shariah-compliant crowdfunding (SCF) and how it could benefit Muslim entrepreneurs particularly in Malaysia. The rise of equity-based crowdfunding is expected to offer a new gateway for Muslim entrepreneurs given its similarity with risk-sharing concept as p...

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Main Author:	Rahman, Maya Puspa Rahman
Format:	Monograph
Language:	English
Published:	2019
Subjects:	HG201 Money HG3368 Islamic Banking and Finance
Online Access:	http://irep.iium.edu.my/73685/ http://irep.iium.edu.my/73685/1/FRGS_Final%20Research%20Report_30072019.pdf

id	iium-73685
recordtype	eprints
spelling	iium-736852019-10-29T05:51:20Z http://irep.iium.edu.my/73685/ Shariah crowdfunding model for enterpreneurship development in Malaysia Rahman, Maya Puspa Rahman HG201 Money HG3368 Islamic Banking and Finance This research studies the real meaning of Shariah-compliant crowdfunding (SCF) and how it could benefit Muslim entrepreneurs particularly in Malaysia. The rise of equity-based crowdfunding is expected to offer a new gateway for Muslim entrepreneurs given its similarity with risk-sharing concept as per the Shariah principles. Malaysia is the first country in Southeast Asia to legislate and award equity-based crowdfunding licences in June 2015. Accordingly, this study aims to propose a Shariah-compliant equity-based crowdfunding (SCF) model and analyse the acceptance level of Muslim entrepreneurs to use it in raising new funds. Based on primary data collected on 411 Muslim entrepreneurs in Malaysia, this study analyse the data using Structural Equation Modelling by adapting Technology Acceptance Model. It is found that perceived usefulness and perceived ease of use have positive effect on behavioral intention to use the proposed SCF model. Similar significance and positive results are found between perceived usefulness and behavioral intention to use the proposed SCF model. Hence, it is concluded that the respondent’s perceptions on the usefulness and ease of use positively affect the behavioral intention of using the new model. This research makes three contributions to the existing literature. First, it is the first to highlight on the possibility of developing SCF model within the Malaysian financial ecosystem. Second, it provides evidence on Malaysian entrepreneurs' understanding on crowdfunding and their intention to use it for fund sourcing by adopting TAM and SEM. Third, it develops a hypothetical structure of SCF model for the development of entrepreneurs in Malaysia. Taking the lead in Shariah-compliant crowdfunding research, this paper aims to contribute to the blueprints for the market players and regulators with regard to offering of SCF particularly in Malaysia. Apart from that, a separate study on the understanding, role and perspectives on digital economy of the entrepreneurs was also undertaken, in view of the rising importance of digital economy in contributing to the growth of the Malaysian economy. 2019-07-30 Monograph NonPeerReviewed application/pdf en http://irep.iium.edu.my/73685/1/FRGS_Final%20Research%20Report_30072019.pdf Rahman, Maya Puspa Rahman (2019) Shariah crowdfunding model for enterpreneurship development in Malaysia. Research Report. UNSPECIFIED. (Unpublished)
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG201 Money HG3368 Islamic Banking and Finance
spellingShingle	HG201 Money HG3368 Islamic Banking and Finance Rahman, Maya Puspa Rahman Shariah crowdfunding model for enterpreneurship development in Malaysia
description	This research studies the real meaning of Shariah-compliant crowdfunding (SCF) and how it could benefit Muslim entrepreneurs particularly in Malaysia. The rise of equity-based crowdfunding is expected to offer a new gateway for Muslim entrepreneurs given its similarity with risk-sharing concept as per the Shariah principles. Malaysia is the first country in Southeast Asia to legislate and award equity-based crowdfunding licences in June 2015. Accordingly, this study aims to propose a Shariah-compliant equity-based crowdfunding (SCF) model and analyse the acceptance level of Muslim entrepreneurs to use it in raising new funds. Based on primary data collected on 411 Muslim entrepreneurs in Malaysia, this study analyse the data using Structural Equation Modelling by adapting Technology Acceptance Model. It is found that perceived usefulness and perceived ease of use have positive effect on behavioral intention to use the proposed SCF model. Similar significance and positive results are found between perceived usefulness and behavioral intention to use the proposed SCF model. Hence, it is concluded that the respondent’s perceptions on the usefulness and ease of use positively affect the behavioral intention of using the new model. This research makes three contributions to the existing literature. First, it is the first to highlight on the possibility of developing SCF model within the Malaysian financial ecosystem. Second, it provides evidence on Malaysian entrepreneurs' understanding on crowdfunding and their intention to use it for fund sourcing by adopting TAM and SEM. Third, it develops a hypothetical structure of SCF model for the development of entrepreneurs in Malaysia. Taking the lead in Shariah-compliant crowdfunding research, this paper aims to contribute to the blueprints for the market players and regulators with regard to offering of SCF particularly in Malaysia. Apart from that, a separate study on the understanding, role and perspectives on digital economy of the entrepreneurs was also undertaken, in view of the rising importance of digital economy in contributing to the growth of the Malaysian economy.
format	Monograph
author	Rahman, Maya Puspa Rahman
author_facet	Rahman, Maya Puspa Rahman
author_sort	Rahman, Maya Puspa Rahman
title	Shariah crowdfunding model for enterpreneurship development in Malaysia
title_short	Shariah crowdfunding model for enterpreneurship development in Malaysia
title_full	Shariah crowdfunding model for enterpreneurship development in Malaysia
title_fullStr	Shariah crowdfunding model for enterpreneurship development in Malaysia
title_full_unstemmed	Shariah crowdfunding model for enterpreneurship development in Malaysia
title_sort	shariah crowdfunding model for enterpreneurship development in malaysia
publishDate	2019
url	http://irep.iium.edu.my/73685/ http://irep.iium.edu.my/73685/1/FRGS_Final%20Research%20Report_30072019.pdf
first_indexed	2023-09-18T21:44:28Z
last_indexed	2023-09-18T21:44:28Z
_version_	1777413357246087168

Shariah crowdfunding model for enterpreneurship development in Malaysia

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