AN ANALYSIS OF THE EFFECTIVENESS OF CASH WAQF DIGITALIZATION THROUGH CROWDFUNDING PLATFORMS ON MSME EMPOWERMENT IN THE DIGITAL ECONOMY ERA: A CASE STUDY OF BENGKALIS DISTRICT
DOI:
https://doi.org/10.56633/mbisku.v3i1.1593Keywords:
Cash Waqf, Digitalization, Crowdfunding, MSMEs, Economic EmpowermentAbstract
This study analyzes the effectiveness of cash waqf digitalization through crowdfunding platforms in supporting the empowerment of Micro, Small, and Medium Enterprises (MSMEs) in the digital economy era. The rapid development of financial technology (fintech) has transformed Islamic social finance, including cash waqf, making it more transparent, efficient, and accessible. However, several challenges remain, such as low public literacy, limited regulations, and a lack of trust in digital platforms. This study uses a quantitative approach with a descriptive-verificative method, drawing on data collected through questionnaires distributed to MSME actors and the public familiar with digital waqf. The findings indicate that digitalizing cash waqf through crowdfunding platforms improves access to financing, enhances business capacity, and strengthens MSME sustainability. In addition, factors such as transparency, accessibility, efficiency, and trust play an important role in increasing the effectiveness of digital waqf management. Therefore, digital cash waqf through crowdfunding platforms can serve as an effective, inclusive, and sustainable Islamic social finance instrument in empowering MSMEs in the digital economy era, although improvements in literacy, regulation, and managerial professionalism are still needed.
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