ISLAMIC CROWDFUNDING PLATFORM AS AN ALTERNATIVE BOOK FUNDRAISING IN MALAYSIA

Abstract

This study aims to explore the applicability of Islamic crowdfunding as an alternative fund to support book publishing in Malaysia. Over the period, it is argued that the book industry in this country has experienced a gloomy trend that not only threatens business players in this area but most importantly it would bring negative impacts towards knowledge development. By utilizing the secondary data, it is found that the Islamic crowdfunding has the potential to support the book industry since other alternative funds are limited. However, the platform should aim to promote writers and their manuscripts rather than to be profit-oriented. At the same time, its practise should be simple as sadaqah and hibah based crowdfunding could be the best option.