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Institute of Business Administration (IBA) Karachi, Pakistan
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Legal and governance issues of donations based crowdfunding: an appraisal Mohd Zakhiri Md Nor; Alias Azhar; Irma Rachmawati; T. Subarsyah Sumadikara; Firman Turmantar; Deden Sumantry; Leni Wini Mulyadi; Tisni Santika; Hesti Septianita; Irum Saba
International Journal of Latin Notary Vol. 4 No. 1 (2023): Internasional Journal of Latin Notary, September 2023
Publisher : Magister Kenotariatan Universitas Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55904/journal.v4i1.54

Abstract

Donation-based crowdfunding is now common in many countries in the world. It has been increasingly important, particularly during Covid-19, and is viewed as one of the strategies for addressing financial challenges in some segments of society. Government and non-governmental organizations. However, the scammer activities via crowdfunding are increasing and Malaysian laws are only regulated the Equity Crowdfunding (ECF) and Peer to Peer Financing (P2P) This paper will focus the discussion of Malaysia's legal framework for crowdfunding. The paper investigates the issues surrounding donation-based crowdfunding in Malaysia. This paper employs qualitative methodology and phenomenology as a case design. Data will be gathered from statues, journals, and other written materials. Thematic and content analysis will be used to analyse the data. This paper discovered that there are issues with donation-based crowdfunding conducted by individuals or non-governmental organizations. This paper concludes thatthere is a pressing need to regulate donation-based crowdfunding in Malaysia in order for it to achieve the donor goals and Maqasid Syariah.
Co-Authors Alias Azhar Deden Sumantry Firman Turmantar Hesti Septianita Leni Wini Mulyadi Maruf, Irma Rachmawati Mohd Zakhiri Md Nor T. Subarsyah Sumadikara Tisni Santika