The Role of Crowdfunding in Financing Endowment Projects

April 4, 2021
The Role of Crowdfunding in Financing Endowment Projects
Sami Al-Salahat



This study aims to set the framework for determining the relationship that connects the Waqf and modern technologies which are developing rapidly. By considering the nature of technologies and the rapid changes occur in the world of business and institutions, as well as the general trend of its usage by individuals; the technology can be seen as necessity which brings ease to their life, their conveyance, in addition to managing their financial, administrative, functional and other dealings. In terms of the scholars of Al-Usool a wide spread phenomenon i.e., the modern technology has engulfed everything in te contemporary era, thus it has become basic necessity of an individual due to its indispensable instance. If technology is very important to individuals, then more importantly, the Waqf institution should be highly interested in these technologies, and to promote its use as a technology based system for carrying out the business of the institution to enhance its economic and social presence in order to contribute to keeping pace with the changes that occur and affect individuals and institutions as well as to the world of business and money.In the latest decade, the use of technologies has prevailed in most areas of life, so this use must be framed in the institutional Waqf performance, and technology should be treated as a strategic axis of the institutional Waqf performance, and rises the importance of setting up performance and achievement indicators needed and developed for asessing the Waqf’s ability to keep pace with the changes that falls into society. The foregoing has shaped a clear challenge to the Waqf’s ability to present such technical tools to the public and target groups in a smooth and unambiguous manner. So our paper focuses on method of crowdfunding platform which has the ability to deliver Waqf foundation projects to the entire world, by surpassing the geographical and spatial framework, and it gives the ability to interact with Waqf initiatives and projects globally, not locally. Keywords: Endowment, Crowdfunding, Projects of Endowment, Crowdfunding Platforms.

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