Awareness And Motivation In Crowdfunding For Islamic Banking And Finance Research
DOI:
https://doi.org/10.7187/GJATSI112019-1Keywords:
Crowdfunding, Islamic banking and finance, Motivation, Crowdfunder, AwarenessAbstract
Research in academia is important for universities in Malaysia, as the Ministry of Education aspires to improve the quality of tertiary education and promotes innovation in the country. However, insufficient funding has restrained the activity of university research. To address this situation, the crowdfunding has become a new alternative for academic research support. This study investigates three main issues regarding crowdfunding in Islamic banking and finance research, namely, level of awareness, willingness and motivation to donate. The study employed a qualitative method. Several interview sessions were conducted with religious councils, financial institutions, crowdfunding platforms, and finance scholar. The findings show that 1) the level of crowdfunding is relatively low, 2) most respondents are willing to donate and 3) the motivations for donation are due to nonmonetary and social returns. Therefore, the regulators and policy makers should conduct continuous campaign on crowdfunding via social media platforms to spread awareness about the benefits of crowdfunding at various levels of society.
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