Achieving Wealth Preservation Via Islamic Crowdfunding: An Analysis from Maqasidic View

Abstract

Crowdfunding, a modern scheme of raising funds via online platforms, has garnered significant attention recently. This study explores crowdfunding through the lens of Islamic jurisprudence, explicitly examining its compatibility with Maqasid al-Shariah (the high objectives of Islamic law). This study uses a qualitative research approach to explore the harmonious alignment of crowdfunding practices with Islamic principles. The findings illuminate that, despite its modern guise, crowdfunding is profoundly rooted in Islamic traditions, bolstered by diverse interpretations of the Quran and foundational Islamic beliefs. Remarkably, the study affirms that crowdfunding resonates with the essence of Maqasid al-Shariah, especially in its remarkable potential to preserve and enhance wealth (Māl). This study offers a Maqasid al-Shariah analysis of Islamic crowdfunding and shows how specific crowdfunding structures can act as practical instruments for preserving and redistributing wealth (Māl) in contemporary Muslim economies. By mapping crowdfunding structures to maqasid goals, the paper provides policymakers and Islamic institutions practical criteria for designing platforms and rules that expand access to capital, protect wealth, and keep transactions Shariah-compliant. The study contributes to the literature on Islamic finance and fintech by linking doctrinal analysis to policy and product design at the interface of faith and financial technology. © 2025 Meshari Al-Daihani, Suhaili Sarif, Khadar Ahmed Dirie, Fares Djafri, & Abdul Muneem.