Volume 20 Issue 1, April 2025

 

ARTICLE INFO
Article History:
Received: 17 March 2025
Accepted: 23 April 2025
Published: 30 April 2025

ASIA-PACIFIC MANAGEMENT ACCOUNTING JOURNAL. VOL. 20 ISSUE 1

HARNESSING ISLAMIC CROWDFUNDING TO ADVANCE SELF-PUBLISHING INDUSTRY IN MALAYSIA

Muhammad Shahrul Ifwat Ishak1 and Md. Faruk Abdullah2,1♣

1Faculty of Business and Management, Universiti Sultan Zainal Abidin, Gong Badak, Campus, Kuala Nerus, Terengganu, Malaysia
2Department of Shariah and Economics, Academy of Islamic Studies, Universiti Malaya, Kuala Lumpur, Malaysia


ABSTRACT

This paper analyses the potentials and challenges of utilising a digital Islamic crowdfunding platform for self-publishing authors in Malaysia. This study is based on qualitative research as it applies semi-structured interviews with authors who have experience utilising Islamic crowdfunding platforms for book publishing. It was discovered that crowdfunding could support self-publishing authors in terms of funding, product feedback, marketing, and collaboration. However, this practice could be challenging since it is still new for the public in Malaysia as well as for authors who may be unfamiliar with Islamic crowdfunding campaigns. Finally, a hibah-based model is proposed for book crowdfunding campaigns since it can avoid the issue of free riders and that books are suitable as rewards. This study is one of the first to elucidate how Islamic crowdfunding assists self-publishing authors in Malaysia. This study investigates the firsthand experiences of selected authors directly engaged in crowdfunding.

Keywords Crowdfunding, Islamic Crowdfunding, Self-Publishing, Book Industry, Malaysia

Corresponding Author: Md. Faruk Abdullah; Department of Shariah and Economics, Academy of Islamic Studies, Universiti Malaya, 50603 Kuala Lumpur, Malaysia; Email:
farukabdullah@um.edu.my