Waqf Based Crowdfunding for University Students: A Maqasidic Perspective

Nur Khairina Khairuddin; Muhammad Shahrul Ifwat Ishak

doi:10.55265/almaqasid.v2i2.14

Authors

Nur Khairina Khairuddin Faculty of Business and Management, Universiti Sultan Zainal Abidin (UniSZA), Malaysia.
Muhammad Shahrul Ifwat Ishak Faculty of Business and Management, Universiti Sultan Zainal Abidin (UniSZA), Malaysia. https://orcid.org/0000-0002-9763-5154

DOI:

https://doi.org/10.55265/almaqasid.v2i2.14

Keywords:

maqāṣid Sharī'ah, waqf, crowdfunding

Abstract

This paper analyses the perspective of Maqāṣid Sharī’ah on the proposed model of waqf-based crowdfunding as an alternative fund for university students in Malaysia. Over the period, students at higher education institutions have witnessed challenges and difficulties to survive their learning journey particularly in terms of financial capability. In this regard, waqf based crowdfunding has the potential as an alternative fund to overcome this issue. Based on library research, this model should be in line with Maqāṣid Sharī’ah in terms of protecting ‘aqal through supporting university students in their learning journey as well as protecting māl through reducing the burden of students, encouraging wealth circulation, and promoting transparency. While this study may be limited in terms of data since it utilises secondary data, it proposes a special practical model of waqf-based crowdfunding that can be an alternative fund in supporting university students in this country.

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