Islamic Crowdfunding For Empowering Housewives' Businesses In Malaysia

Nur Syahirah  Mohammad Nasir; Muhammad Shahrul Ifwat Ishak; Kauthar Razali; Farah Roslan; Zuhairah Ariff Abd Ghadas

doi:10.33102/jfatwa.vol31no2.778

Authors

Dr. Nur Syahirah Mohammad Nasir Faculty of Islamic Contemporary Studies, Universiti Sultan Zainal Abidin, Kuala Nerus, Terengganu, MALAYSIA
Muhammad Shahrul Ifwat Ishak Faculty of Business and Management, Universiti Sultan Zainal Abidin, Kuala Nerus, Terengganu, MALAYSIA
Kauthar Razali Faculty of Islamic Contemporary Studies, Universiti Sultan Zainal Abidin, Kuala Nerus, Terengganu, MALAYSIA
Farah Roslan Faculty of Applied Social Sciences, Universiti Sultan Zainal Abidin, Kuala Nerus, Terengganu, MALAYSIA
Zuhairah Ariff Abd Ghadas Faculty of Law and International Relations, Universiti Sultan Zainal Abidin, Kuala Nerus, Terengganu, MALAYSIA

DOI:

https://doi.org/10.33102/jfatwa.vol31no2.778

Keywords:

Crowdfunding, Islamic Crowdfunding, Housewive, Entrepreneurs

Abstract

This study analyses the potential of Islamic crowdfunding for empowering housewives' businesses, especially through digital platforms in Malaysia. Due to inflexibility, many educated women have recently preferred to conduct business from their homes rather than seeking fixed-paying jobs outside. Nevertheless, access to funding is relatively limited. Although crowdfunding has recently been promoted as an alternative funding source for businesses, its potential for housewife entrepreneurs remains unexplored. By employing a qualitative methodology, this study gathers data through semi-structured interviews with ten experts in relevant fields, analyzing the data using a thematic approach. The findings indicate that while housewives feel more comfortable running a business due to its flexibility, household income, and personal interest, they have also encountered challenges related to multiple workloads and financial constraints. Thus, crowdfunding is believed to be a potential solution to support those who run businesses from home. However, it must be practical in terms of a model for this group. While many models have both advantages and disadvantages, this study proposes a hybrid crowdfunding model for housewives by combining funding from public and corporate institutions. This can be realized by forming a strong community of housewives' businesses, government initiatives, and a special platform for this group. Although this study is still considered exploratory due to its limited number of interviewees, it provides a practical solution for all stakeholders.

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