Habibah S Ramli - Academia.edu (original) (raw)
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Istanbul Sabahattin Zaim University / İstanbul Sabahattin Zaim Üniversitesi
Istanbul Sabahattin Zaim University / İstanbul Sabahattin Zaim Üniversitesi
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Papers by Habibah S Ramli
Asian Journal of Accounting Research
PurposeIslamic crowdfunding, an alternative way to finance social projects, is a new development ... more PurposeIslamic crowdfunding, an alternative way to finance social projects, is a new development in Malaysia. Little is known about its operation. This study aims to explore the practice of Nusa Kapital, the first Islamic crowdfunding platform in Malaysia.Design/methodology/approachThis study adopted a descriptive approach. The data was collected through document analysis and interviews with two officials of Nusa Kapital. The data gathered was analyzed through the thematic analysis technique.FindingsThis research discovered that Nusa Kapital was established considering the financing needs of the growing number of small medium enterprises (SMEs) in Malaysia. It uses the murabahah concept to make financing arrangements for entrepreneurs. Murabahah is a debt-based concept where the investors, instead of giving cash to the entrepreneurs, purchase an asset and sell it to them at a cost-plus profit. The Securities Commission Malaysia (SCM) regulates the crowdfunding operation of Nusa Kapi...
The Journal of Management Theory and Practice (JMTP)
In recent years, crowdfunding has emerged as a viable alternative channel for entrepreneurs to fu... more In recent years, crowdfunding has emerged as a viable alternative channel for entrepreneurs to fund their early-stage businesses. The rapid development of the internet worldwide has turned crowdfunding into a mechanism that can pool resources from people to people without financial intermediaries. This unique alternative finance could support Islamic finance as far as its practices comply with Shariah since crowdfunding philosophy has already in line with the spirit of Shariah in terms of promoting wealth distribution, encouraging transparency and supporting socio-justice. Nevertheless, the current regulatory requirements for Shariah aspects seem to be lenient, unlike Islamic financial institutions. In fact, without a proper Shariah monitoring process, it could lead to serious issues in terms of public confidence, the status of funds and the outcome of crowdfunding practices. In this regard, this paper aims to propose a special Shariah governance model for equity-based crowdfunding ...
Asian Journal of Accounting Research
PurposeIslamic crowdfunding, an alternative way to finance social projects, is a new development ... more PurposeIslamic crowdfunding, an alternative way to finance social projects, is a new development in Malaysia. Little is known about its operation. This study aims to explore the practice of Nusa Kapital, the first Islamic crowdfunding platform in Malaysia.Design/methodology/approachThis study adopted a descriptive approach. The data was collected through document analysis and interviews with two officials of Nusa Kapital. The data gathered was analyzed through the thematic analysis technique.FindingsThis research discovered that Nusa Kapital was established considering the financing needs of the growing number of small medium enterprises (SMEs) in Malaysia. It uses the murabahah concept to make financing arrangements for entrepreneurs. Murabahah is a debt-based concept where the investors, instead of giving cash to the entrepreneurs, purchase an asset and sell it to them at a cost-plus profit. The Securities Commission Malaysia (SCM) regulates the crowdfunding operation of Nusa Kapi...
The Journal of Management Theory and Practice (JMTP)
In recent years, crowdfunding has emerged as a viable alternative channel for entrepreneurs to fu... more In recent years, crowdfunding has emerged as a viable alternative channel for entrepreneurs to fund their early-stage businesses. The rapid development of the internet worldwide has turned crowdfunding into a mechanism that can pool resources from people to people without financial intermediaries. This unique alternative finance could support Islamic finance as far as its practices comply with Shariah since crowdfunding philosophy has already in line with the spirit of Shariah in terms of promoting wealth distribution, encouraging transparency and supporting socio-justice. Nevertheless, the current regulatory requirements for Shariah aspects seem to be lenient, unlike Islamic financial institutions. In fact, without a proper Shariah monitoring process, it could lead to serious issues in terms of public confidence, the status of funds and the outcome of crowdfunding practices. In this regard, this paper aims to propose a special Shariah governance model for equity-based crowdfunding ...