Purpose This paper investigates the probability that people (prospective donors) would be willing to use the crowdfunding-Waqf model (CWM), depending on certain variables and characteristics. This study aims to develop an alternative financial model to address Malaysia’s Waqf land financing problem. Design/methodology/approach A survey study was conducted to assess the probability that people would be willing to use the CWM. This study used descriptive analysis and the logistic regression model as analytical tools. Descriptive analysis was conducted using frequencies, which means the number of respondents for each variable or item, such as demographic variables. The logistic regression model was used to obtain the probability that individuals would be willing to use the CWM, based on certain variables. Findings This study found that perceived usefulness, perceived ease of use, gender and Waqf knowledge positively affected the likelihood that people would willingly use the CWM for developing Waqf land. In contrast, other factors such as age group, marital status, income level, internet usage, perceived risk of crowdfunding and Waqf perception did not affect this likelihood. Further investigation indicated that being of middle-income level and possessing crowdfunding knowledge positively affected the likelihood that people were willing to use the CWM. The highest probability of the willingness to use the CWM was identified among middle-income males who knew about Waqf and perceived the CWM as useful and easy to use. Research limitations/implications The results of this study and other key findings are expected to be implemented by Waqf institutions in Malaysia to develop policies related to Waqf land in general or to the CWM in particular. The findings are also expected to benefit individuals, organisations and countries, and they could also be adapted and validated in other nations. Originality/value This study focused on developing a better chance of finding people with specific characteristics and factors that lead them to intentionally use the CWM. The probability of willingness to use the CWM based on certain variables has not yet been evaluated. Recognising how higher probabilities can be identified using every factor and characteristic will enable future CWM users to be better mapped, which is expected to increase the effectiveness of developing the CWM.
Purpose This paper aims to identify the factors that hinder the successful empowerment of waqf land in Indonesia empirically by applying the analytic networking process (ANP). Design/methodology/approach In this study, after the waqf land problem criteria were introduced, an ANP model was developed and applied to identify the main problem, solution and strategy as a framework to guide stakeholders to produce policy recommendations appropriately and optimally. Findings The results showed that the main priority of the problem is the nadzir aspect. Furthermore, each criterion’s problems are a low public trust, unprofessional nadzir (waqf manager), a huge number of idle waqf lands, the absence of waqf certificates and non-economic waqf lands utilisation. Meanwhile, the main priorities for each aspect of the solution are socialisation and education to the community, nadzir certification, utilisation of information technology for the administration of waqf land governance, waqf land certification and innovation of waqf land development projects. Then, the long-term strategic priority is optimising the community’s role in the empowerment of waqf land. Research limitations/implications The development of the ANP model would give the institutions a modest, flexible and convenient approach to evaluate the barriers present in waqf land. However, ANP requires greater effort because it is a highly complex methodology that compels a study to use more numerical calculations in assessing composite priorities. Originality/value Not many studies on waqf land issues in Indonesia have been discussed empirically. Most of these studies are in the form of descriptive studies. This study introduces the ANP approach to illustrate the main problems of waqf land empowerment in Indonesia. ANP is a new approach to the decision-making process through a process that produces a general framework for treating decisions without making assumptions regarding independence between elements.
People does consumption to fulfill their needs in order to keeping their life. There are guidelines in Islam telling how a Moslem is supposed to consumed. A Moslem needs a comprehensive understanding about Islamic consumption in order to adjust their consuming behaviour with Islamic syaria. The understanding causes an implication of Moslem consumer behaviour in daily life.This research uses case study method with descripive qualitative approach. Author uses interview for primary data collection in this research. The scope of this research is limited in student of Islamic Economics of Economics and Business Faculty of Airlangga University and answer how to implement Islamic consumption understanding in Moslem consumption behavior.The result of this research shows there are four elements of Islamic consumption which is used as a guideline for moslem while they do consumption, ie: halal products consumption, avoiding excessive consumption (israf), paying zakat, infaq, and charity, and making needs priority. The informen confess that there is a difference in their consuming behaviour beforeand after knowing the Islamic consumption theory.
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, this paper 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.
Purpose This study aims to examine how muzakki (zakat donator) and mustahik (zakat recipients) collaborated to strengthen the fundraising capability in Islamic social finance institutions (ISFIs) during the COVID-19. Design/methodology/approach This study uses a descriptive qualitative method in conjunction with interview techniques. Interviews with muzakki of various professions were conducted, as well as data from field documentation, to develop a collaborative model of muzakki and mustahik in strengthening the fundraising capacity of ISFIs. Findings The findings indicate that muzakki employed as civil servants, BUMN (state-owned enterprises) employees and entrepreneurs continue to pay zakat through ISFIs and support mustahik, whereas muzakki affected by the COVID-19 pandemic reduce their zakat spending. Consequently, with the collaboration of mustahik and muzakki, a framework can be developed to strengthen the strategy for raising funds for ISFIs. By empowering mustahik with businesses, ISFIs can increase the collection of zakat funds. Research limitations/implications The collaboration model would strengthen ISFI's ability to raise Islamic philanthropic funds and optimize their management. The basis for the regulation is contained in Law No. 23 of 2011 which allows collaboration between institutions and other stakeholders. In addition, the role of ISFIs does not end with the collection and distribution of funds, they also maintain the muzakki and mustahik's cooperation, so a significant role is required in involving muzakki and mustahik for them to collaborate and synergize, as well as improving the quality of human resource from Amil (zakat collector) to implement the strategy. Originality/value Few studies have been conducted in collaboration with Muzakki and Mustahik to develop models or frameworks for strengthening fundraising capabilities in ISFIs. Most of these studies are illustrative. Through collaboration between Muzakki and Mustahik, this research establishes a new model for enhancing the strategy of Islamic social finance fund raising to establish a sustainable system for ISFIs.
This research aims to know the assessment of the implementation of the amanah in employees Darussalam Hotel at Pondok Pesantren GontorPonorogo. This research focuses on the discussion of the amanah. Amanah could mean everything to fulfill deposited and entrusted to a person. This study used a qualitative approach to exploratory case study strategy. File was collected through interviews to employees Darussalam Hotel at Pondok Pesantren Gontor Ponorogo. The results of this study show that the majority of informants has been carrying out the nature of the amanah to implement their duties as employee of Darussalam Hotel at Pondok Pesantren Gontor Ponorogo, it can be seen by the attitude of the employees who are able to demonstrate a sense of responsibility, just promise with high work commitment and transparency in carrying out its duties. The nature of the mandate carried out in the service process in carrying out each task by the employee for the service that the mandate would have a positive impact for the hotel as one of the Pondok Gontor's Business.
This present study aims to develop an alternative model of financing that address theproblems of waqf land financing in Malaysia, analyse the probability that waqf institutionwill use the proposed model and recommend policies to enhance the optimisation ofcrowdfunding for developing waqf land. This study focuses on potential donors in the fourstates in Malaysia, namely Pahang, Pulau Pinang, Selangor and Johor since these areas havesignificant waqf lands. The analysis is conducted using statistical analysis and logisticregression analysis. The study finds that there is a high probability of donors willing to usethe proposed model (CWM), particularly among non-married donors, females, low-middleincome donors, and those with more awareness of crowdfunding and waqf.
In order to fulfill the need of banking industry that grew rapidly, Bank Indonesia create several monetary instrument. One of them is Islamic Certificate of Bank Indonesia (SBIS). This research aims to investigate the effect of return rate of SBIS to investment in SBIS and also the profitability of sharia commercial banks in Indonesia. The research method used is path analysis with three kind of variables, which is SBIS’s return rate as exogenous variable, investment in SBIS as intervening endogenous variable, and the profitability as endogenousvariable.The result of this research shows that SBIS’s return rate effects significantly positive to the investment in SBIS, but effects unsignificantly negative to the probability of sharia commercial banks. Meanwhile investment in SBIS has non-significantly positive effect to the profitability of sharia commercial banks.
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