ASIAN JOURNAL OF ISLAMIC MANAGEMENT (AJIM)
VOLUME 2 ISSUE 2, 2020

A conceptual and empirical study on the development of the Islamic donation-based crowdfunding platform model for micro small and medium-sized enterprises (MSMEs) in times of Covid-19 pandemic in Indonesia

Sulaeman Sulaeman (Faculty of Economics and Business, Airlangga University, Surabaya, Indonesia)



Article Info

Publish Date
11 Dec 2020

Abstract

Purpose: This study aims to present and to test practically the concept of the Islamic donation-based crowdfunding platform model for providing the financing program of MSMEs in times of COVID-19 pandemic in Indonesia.Methodology: This study uses a conceptual and empirical approach. The primary data is collected through the online survey questionnaires and then the data are descriptively analyzed.Findings: This research finds that the concept of the Islamic donation-based crowdfunding platform model is expected to solve the existing problems due to the adverse impact of the Covid-19 pandemic on MSMEs in Indonesia. Also, the platform model will open the opportunity for more optimum and impactful utilization of Islamic charity donation funds from zakat, cash waqf, sadaqah, and the like. Besides, an empirical study finds the majority of respondents accepted the concept of the Islamic donation-based crowdfunding platform model. The platform model has the potential to optimize financing programs for MSMEs in times of the Covid -19 pandemic situation.Practical implications: The present study also has implications for government, zakat institution, waqf institution, and policymakers to realize the concept of the Islamic donation-based crowdfunding platform model into the real world.Originality: The study will contribute to the existing literature especially on the Islamic donation-based crowdfunding platform model as an alternative strategy to minimize the negative impact of the Covid-19 pandemic on MSMEs in Indonesia.

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Journal Info

Abbrev

AJIM

Publisher

Subject

Decision Sciences, Operations Research & Management Social Sciences Other

Description

The Asian Journal of Islamic Management (AJIM) is a peer-review journal publishes quality and in-depth analysis on current issues within Asia and Islamic management topics. The journal publishes twice a year every June and December. AJIM welcomes strong and original evidence-based empirical studies ...