Shariah Compliance Analysis of Islamic Crowdfunding: Case Study of

  • Ayu Yuningsih Universitas Islam Indonesia Yogyakarta
  • Rifqi Muhammad Universitas Islam Indonesia Yogyakarta


This paper aims to analyze the mechanism and implementation of crowdfunding on and the evaluation of shariah compliance. Based on the parameters of shariah compliance proposed by Rosly (2010) it can be seen that the implementation of shariah crowdfunding of has fulfilled the three parameters of shariah compliance namely ‘aqd, maqasid al-shariah and legal documentation. Meanwhile, in the case of financial and accounting reporting disclosed the is not yet not fulfilling existing of regulations, where crowdfunding companies should publish detailed financial reports. The management of only publishes project development reports funded by investors. This is because there is no specific provision for disclosing  financial reporting and accounting for financial technology companies, especially those engaged in equity crowdfunding.


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How to Cite
YUNINGSIH, Ayu; MUHAMMAD, Rifqi. Shariah Compliance Analysis of Islamic Crowdfunding: Case Study of IQTISHODUNA: Jurnal Ekonomi Islam, [S.l.], v. 9, n. 1, p. 75-90, apr. 2020. ISSN 2443-0056. Available at: <>. Date accessed: 22 may 2022. doi: