Purpose Waqf (Islamic endowment) in the form of cash is important to address the problem of developing idle waqf lands. Although there are various existing models of cash waqf, there is still a need for innovative cash waqf models. This paper aims to offer an alternative mode of financing for developing idle waqf lands using the concepts of cooperatives and waqf. Design/methodology/approach The present study first evaluates relevant literature on financing issues faced by waqf institutions in developing idle waqf lands as well as existing models of cash waqf. Based on the prevailing gap in cash waqf models, the study proposes a hybrid model of cooperative-waqf to finance idle waqf lands in Malaysia. Findings The proposed model is unique owing to the new dimension of membership being embedded into the waqf project. It considers donors as members of the waqf project, which is funded through the cash waqf collected, and thus, donors are given the privilege to receive benefits from the commercialised projects that are developed on the waqf lands. The existing models of cash waqf use traditional methods in which donors merely contribute cash waqf without any awareness of how the contributions are utilised. Usually, this problem occurs due to the lack of reciprocal communication between cash waqf donors and waqf institutions. Research limitations/implications The present study examines the case of waqf land development in the context of Malaysia only. Secondly, the paper does not contain any empirical analysis, and the development of the paper is based on existing literature that discusses various models of cash waqf practised in Muslim-majority and -minority countries. Future research can conduct surveys of donors and other stakeholders on the practicality of the model. Practical implications It is expected that the proposed cooperative-waqf model will be able to create a synchronised relationship between cash waqf donors and waqf institutions and hence boost participation in developing waqf lands. Originality/value The present study adds to the existing literature in the area of waqf and cash waqf models, especially the application of this instrument in the context of Malaysia. It also offers a new hybrid model to the State Islamic Religious Councils (SIRCs) – Malaysia’s sole trustee of waqf assets management – such that the implementation of the proposed model could boost the collection of cash waqf in developing commercial projects on idle waqf lands.

Purpose This study aims to investigate the behavioural intention and adoption of internet banking (IB) among clients of local and foreign Islamic banks in Malaysia. Design/methodology/approach Survey questionnaires were distributed among the Islamic banks’ clients at two main states, namely, Kuala Lumpur and Selangor. The number of clients involved is 319 (n = 319). The data was analysed using the partial least square (PLS) and theoretically, the research framework in this study is guided by the unified theory of acceptance and use of technology 2 (UTAUT2). Findings The smart PLS analysis yielded three main outcomes, namely, the variables such as performance expectancy, effort expectancy, price value, facilitating conditions and habit have a positive influence over the behavioural intention and subsequently lead to the adoption of IB. The other two variables, namely, social influence and hedonic motivation were negatively-related and insignificant for behavioural intention. Third, this paper also noticed that facilitating conditions and habits have a direct relationship with the adoption of IB. Practical implications Based on the findings, Islamic banks can take necessary action to design a better policy to further accelerate the usage of IB among their client. By identifying those factors, this, perhaps, can allow Islamic banks to invest more ideas on those significant factors that influence their interest, and subsequently leads to good business to Islamic banks as the clients nowadays are looking for simplicity and convenience factors when using IB. Originality/value This research is expected to enhance existing literature on internet banking, especially in Islamic banking research on the technological edge. Limited research has been done in Malaysia, particularly on the intention and continuous adoption of IB in Islamic banks using the UTAUT2 framework. This would be breakthrough research in identifying factors that influence customers’ continuous adoption of IB.

Purpose This paper aims to examine the behavioural intention of donors or crowd funders to use crowdfunding-waqf model (CWM), as this model is proposed to address the liquidity problem faced by waqf institution in Malaysia. Design/methodology/approach The primary data are collected from the survey administered to donors or crowd funders in Klang Valley and the analysis is conducted using Partial Least Squares (PLS). The model has validated its acceptance in the field by adopting the theory of Technology Acceptance Model (TAM). Findings This study has revealed that both the perceived usefulness and perceived easy to use are found to have a positive impact on the intention of donors or crowd funders in assisting waqf institution to develop waqf land in Malaysia. Furthermore, perceived easy to use has a positive relationship and direct effect with perceived usefulness of crowd funders to use the CWM. Research limitations/implications The variables that have been used based on TAM in this study are constantly in flux. There are other variables such as trust, social norm, orientations that might be affecting the adoption level of donors or crowd funders in Malaysia. In addition, the current study is covering only Klang Valley, Malaysia. Future research is nevertheless still required that incorporate other variables and extend the study to other states of Malaysia. Practical implications The findings of this paper will provide waqf institution with an alternative source for raising capital to develop waqf asset. The present study also has implications for government and policy makers. Originality/value To the best of the author’s knowledge, no study has incorporated an element of crowdfunding to develop waqf land. Thus, the present study is relevant in extending the importance of crowdfunding as a source of financing for waqf institutions in developing waqf land.

Purpose Waqf institutions in many Muslim countries including in Malaysia are facing liquidity constraints in developing waqf land. This paper aims to offer a sustainable model of source of financing for waqf institutions to meet their liquidity constraint in developing waqf land, which is known as the crowdfunding–waqf model (CWM). Later, CWM validated its acceptance in the field among the crowdfunders by adopting the theory of technology acceptance model (TAM). Design/methodology/approach The primary data are collected from the survey administered to donors or crowdfunders in Selangor, Penang, Johor and Pahang. The total number of respondents are n = 1,000. The analysis is conducted using structural equation modeling (SEM). Findings Based on findings, both the perceived usefulness and perceived easy to use of CWM are found to have a positive impact on the behavioral intention of crowdfunders or donors in assisting waqf institutions to develop waqf land in Malaysia. Furthermore, perceived easy to use has a positive relationship and direct effect on perceived usefulness of crowdfunders to use the CWM. Research limitations/implications There are some limitations of the current study. The sample size and area of study become the obvious limitations. Thus, there is a need for caution in the interpretation of the results, and the conclusion cannot be as generalized. Besides, the use of current factors might limit the ability to explore other potentially important determinants of the crowdfunders’ behavioral intention on using CWM. Thus, future research can be conducted by incorporating new factors and provide new insights for optimizing CWM. Other potential moderator variables should be included into the research model in order to obtain more robust results. Practical implications The findings of this paper will provide a new avenue for waqf institutions to raise funds for developing waqf land, particularly in Malaysia. The present study also has implications for the government and policymakers. Through CWM, it enables to reduce the expenses of the government for the development of waqf land. Indeed, CWM could be applied in other Muslim countries that are facing liquidity constraint in developing waqf land. Originality/value This paper offers an additional literature on waqf and crowdfunding, especially in the Malaysian context. The paper proposes a viable alternative model for waqf institutions as a source of financing by using crowdfunding.

Purpose Crowdfunding has become one of the preferred mechanisms to raise funds by startups and small entrepreneurs. As such, this paper aims to develop an appropriate framework for Sharīʿah-compliant equity-based crowdfunding (SEC) in Malaysia. Design/methodology/approach The research begins by analyzing the intention of 200 entrepreneurs in Kuala Lumpur and Selangor regarding the use crowdfunding to raise capital. The analysis is based on the theory of reasoned action, which is also associated with the technology acceptance model (TAM) and is effected by using structural equation modeling (SEM). Findings The entrepreneurs agree on the ease of use of crowdfunding in raising capital, although it appeared that they are quite reluctant to share their business ideas online. Subsequently, an SEC framework is proposed, to further enhance entrepreneurship development in Malaysia particularly in meeting the need for raising funds in line with Sharīʿah principles. Practical implications This paper aims to contribute more to the development of a blueprint for an SEC platform for market players and regulators in Malaysia. Social implications This paper also aims to highlight the growing needs of entrepreneurs, particularly in Malaysia to have a Sharīʿah-compliant alternate to raise funds via crowdfunding. Originality/value This paper makes two main contributions. First, it provides evidence on Malaysian entrepreneurs’ intention to use crowdfunding for fundraising through TAM and SEM analysis. Second, it proposes an SEC framework for the development of entrepreneurs in Malaysia.