Heritage Conservation Through Public Donation in Malaysia: A Potential for Islamic Crowdfunding

  • Muhammad Shahrul Ifwat Ishak Faculty of Business and Management, Universiti Sultan Zainal Abidin (UniSZA), Terengganu, Malaysia
  • Muhammad Huzaifah Kamaruddin Faculty of Business and Management, Universiti Sultan Zainal Abidin (UniSZA), Terengganu, Malaysia
Keywords: Heritage Conservation, Crowdfunding, Islamic Crowdfunding

Abstract

Heritage tourism sites are vital to be preserved due to their multiple benefits for society and nation. Nevertheless, over the years, some of these sites have been threatened due to the lack of funds to support conservation costs. While heritage sites need financial aids for their sustainability, the government allocation on this matter may be restricted, as they need to emphasise crucial areas like people welfare and economic development. In this regard, this study aims to explore the applicability of Islamic crowdfunding for heritage conservation in this country. In fact, crowdfunding has been successfully proven its role in supporting community-based projects. Through library research, two models are developed: infaq-based and waqf-based models. Despite this study is considered conceptual, its finding proposes two practical models that can be applied as crowdfunding platforms to support the conservation of heritage tourism sites in Malaysia.

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Published
2021-11-13
How to Cite
Ishak , M. S. I., & Muhammad Huzaifah Kamaruddin. (2021). Heritage Conservation Through Public Donation in Malaysia: A Potential for Islamic Crowdfunding. The Journal of Management Theory and Practice (JMTP), 2(3), 10-16. https://doi.org/10.37231/jmtp.2020.2.3.170