Islamic crowdfunding: fundamentals, developments and challenges

Abstract

As financial activities bccome more sophisticated, financial markets bccome more sensitive to shocks resulting in unpredictable impacts on the real sector. Banks, the leading player in the financial system, use their financial strength to make economies volatile due to excessive risk transfer and money creation. To stabilise markets, Islamic finance offers an alternative model of a financial market and economy with its Shariali concepts and adoption of Fintech innovation, which in this case is crowdfunding. © 2018 Islamic Cultural Centre. All rights reserved.