Risk Mitigation Strategy in Islamic Crowdfunding Institution (Case Study at Islamic Crowdfunding Instituion in Indonesia)

Zatadini, Nabila; Marjany, Nawa; Syamsuri, Syamsuri

doi:10.32535/jicp.v2i3.659

Cited by 6 publications

(5 citation statements)

References 2 publications

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“…The investors and entrepreneurs share risk and profit in EthisCrowd equity financing transactions (Azganin, Kassim and Saad, 2021). Meanwhile, investors gain halal dividends by facilitation of funds on real estate projects as well as win a business and social impact (Zatadini, Marjany and Syamsuri, 2019).…”

Section: The Proposed Housing Loan Modelmentioning

confidence: 99%

“…It promotes co-ownership (risks and returns) between financiers and homebuyers (Eam et al , 2019). MM replaces interest rates with rental revenue to eliminate interest (usury) while preserving the rights of each contracting party (Zabri and Mohammed, 2018). It strikes a compromise between moral and material standards while emphasizing partnership or profit-and-loss sharing (PLS), allowing homeowners to acquire properties more quickly than conventional financing (Platonova, 2013).…”

Section: Key Components Of the Proposed Model And Its Workflowmentioning

confidence: 99%

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An Islamic principle-based integrated solution for China’s housing affordability issues

Taib

Gold

2023

IJHMA

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Purpose This study aims to merge the world’s proven ways of housing finance, including musharakah mutanaqisah, housing cooperatives and real estate crowdfunding, to present an alternative housing unaffordability solution based on the Islamic finance principle. It is intended to reduce the burden of funding for both sides (consumers and developers) and create win–win chances for all stakeholders, including intermediaries. By moving away from debt financing and merging the features of crowdfunding and cooperative, it is hopeful that the burden of home ownership will no longer be the case. Design/methodology/approach This paper presents the opinions of potential Chinese homebuyers (minority Muslims and most non-Muslims) and a few industry experts toward the proposed model via a mixed research method. Findings According to the findings, the majority of respondents agreed with the proposed paradigm. Just concerned that China’s lack of community culture and trust could pose a major threat to implementation. However, this paper argues that Chinese local governments may perform pilot testing in places where Islamic culture is prevalent. Their unique community culture and fundamental understanding of Shariah law may affect the viability of the proposed model. Originality/value The proposed model would increase the applicability of Islamic finance as a way of protecting the social order of communities in the spirit of upholding justice and fairness. A new type of housing loan based on musharakah mutanaqisah may squeeze out the real estate bubble and provide stakeholders with a multidimensional investment channel. In particular, the study identifies the impact of Chinese Islamic financing on government and cultural needs. It presents possible challenges for implementing the proposed model in reality and helps bridge the gap between theory and practice.

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Section: The Proposed Housing Loan Modelmentioning

confidence: 99%

Section: Key Components Of the Proposed Model And Its Workflowmentioning

confidence: 99%

An Islamic principle-based integrated solution for China’s housing affordability issues

Taib

Gold

2023

IJHMA

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“…Hasil penelitiannya menyimpulkan perlu adanya mitigasi risiko yang dilakukan oleh lembaga atau flatform crowdfunding di Indonesia. (Zatadini, 2019) Dari beberapa penelitian terdahulu terlihat perbedaan dengan penelitian yang penulis lakukan dimana fokus penelitian penulis adalah membahas analisis crowdfunding syariah ditinjau berdasarkan kepatuhan syariah atau syariah compliance.…”

Section: Pendahuluanunclassified

Analisis Crowdfunding Syariah Berdasarkan Prinsip Sharia Compliance pada Produk Perbankan Syariah

Makraja

2023

Jurnal Hukum Ekonomi Syariah

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<p><em>The presence of Financial Technology is a concrete manifestation of economic development in the digital era. One form of fintech development is the emergence of crowdfunding which is accessed via an internet network connection. The purpose of this research is to find out the implementation of the sharia crowdfunding method from the point of view of sharia compliance in Indonesia. The method used in this study is qualitative by using an empirical juridical approach. The results of this study conclude that the application of the sharia crowdfunding method to real sector economic transactions is in accordance with sharia principles, meaning that the sharia crowdfunding method is permissible according to Islamic law. The interrelated parties in this crowdfunding are the organizers, initiators and investors or donors as well as the Sharia Supervisory Board as the supervisory institution for the implementation of sharia crowdfunding. The application of crowdfunding in the development of Islamic banking products must be in accordance with sharia principles, namely avoiding the elements of magrib (maisir, gharar and usury). The development of crowdfunding -based fintech has grown rapidly in Indonesia so that special regulations are needed to regulate this so that unwanted things do not occur.</em></p>

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“…Pada November 2016, pelakunya telah mencapai 135-140 perusahaan Fintech. Dari data tersebut, 43% bisnis berada di sektor perdagangan, 17% pembayaran pinjaman, 13% Aggregator Crowdfunding, 8% Personal Finance Planning dan 11% di sektor lainnya (Nabila Zatadini, Nawa Marjany, 2019). Ada empat jenis crowdfunding yang beroperasi di dunia ini, yaitu berbasis ekuitas, berbasis aset, berbasis imbalan, dan berbasis donasi.…”

Section: Pendahuluanunclassified

Studi Empiris Perkembangan Crowdfunding Syariah di Indonesia

Nelly¹,

Harianto²,

Majid

et al. 2022

ajeks

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Crowdfunding plays a role in the Indonesian economy in its development. Sharia crowdfunding has become a solution to provide financial services that are accessible to businesses that lack access to banking, especially in Indonesia. Using a literature review, this study aims to describe crowdfunding and show how sharia crowdfunding is developing in Indonesia. The results of the study show that crowdfunding has continued to develop in Indonesia since it was first popular in 2009. Sharia crowdfunding has the potential to benefit the business world in accessing capital, increasing welfare, and general economic growth. Another finding is that the implementation of sharia crowdfunding is divided into four categories; donation-based, reward-based, asset-based and equity-based crowdfunding. Where there are differences between conventional crowdfunding and sharia crowdfunding from the four categories. In addition, sharia crowdfunding is also faced with several future issues that must be faced, such as: public trust in crowdfunding, quality and understanding, contract innovation, partnerships with banks, integration with NBFIs, especially MFIs and being able to develop businesses that have high risk. Keywords: Crowdfunding, Sharia Crowdfunding, Development

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Risk Mitigation Strategy in Islamic Crowdfunding Institution (Case Study at Islamic Crowdfunding Instituion in Indonesia)

Cited by 6 publications

References 2 publications

An Islamic principle-based integrated solution for China’s housing affordability issues

An Islamic principle-based integrated solution for China’s housing affordability issues

Analisis Crowdfunding Syariah Berdasarkan Prinsip Sharia Compliance pada Produk Perbankan Syariah

Studi Empiris Perkembangan Crowdfunding Syariah di Indonesia

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