An overview of the lecture on “Islamic Crowdfunding: How It Works?”

An overview of the lecture on “Islamic Crowdfunding: How It Works?”
Date: 4 August 2022
Day: Thursday
Time: 12 Noon (Kuwait time)
Speaker: Dr. Md Faruk Abdullah, Senior lecturer, School of Banking and Finance, Faculty of Business and Management, Universiti Sultan Zainal Abidin
Organizer: Islamic Econmics Association, Faculty of Shariah and Islamic Studies, Kuwait University
Web: https://shariaa.org
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Introduction:

The Islamic Economics Association (نادي الاقتصاد الإسلامي بجامعة الكويت) of the Faculty of Shariah and Islamic Studies in University of Kuwait is a well-known pioneer education, research and training platform. The association specially promotes Shariah-compliant finance frameworks, strategies, and models through conducting lectures, talks, workshops, conferences, seminars and trainings, both in Arabic and English languages which covers a wide range of areas in Islamic banking and finance. In regard to that the lecture on “Islamic Crowdfunding: How It Works” was held on 4 August 2022. Dr. Mohammad Mohiuddin, the Moderator of the session started the session and briefly introduced the Association and the speaker to all participants.

The speaker Dr. Md Faruk Abdullah addressed the background of the topic of the lecture at the beginning and mentioned the content of the lecture. Then the lecturer discussed the topic in a very informative way with references from Quran and Sunnah.

Keywords: Crowdfund. Nusa Kapital.

Objectives:

The objectives of the lecture are:

Assisting the researchers, professionals and students to understand crowdfunding.
Eloborating the types of crowdfunding.
Helping the attendees to understand the mechanism of Islamic crowdfunding.
Addressing some challenges and issues in crowdfunding.
Introducing some feasible solutions to current challenges.

Discussions:

Dr. Md Faruk Abdullah stated that:
Crowdfunding is a platform to raise funds from the society. It is an alternative to the conventional banking system.
Crowdfunding is gaining the attention of the entrepreneurs due to the possibility of getting fund at the early stage of a business.
Another advantage of crowdfunding is the ability to reach a significant number of donors and investors.
Then Dr. Faruk explained:
Definition of Crowdfunding
Types of Crowfunding
Understanding of Islamic Crowdfunding
Mechanism of Islamic Crowdfunding
Challenges and Issues in Crowdfunding

Link:

May Allah accept all our good deeds and services.

Prepared by:

Dr. Mohammad Mohiuddin
Moderator of the session