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Influence of Hikmah (Practical Wisdom) on Crowdfunding

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Selected Proceedings from the 1st International Conference on Contemporary Islamic Studies (ICIS 2021)

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Abstract

Hikmah (practical wisdom) has been an outcome of ethical spiritual knowledge and discretion about abstraction and uncertainty. The intensive sharing and engaging with many stakeholders enables people to be gifted with hikmah (practical wisdom). Crowdfunding relies on trust and credibility of the crowd (wisdom of the crowd). The integration of practical wisdom and wisdom of the crowd provides synergy in crowdfunding. The influence of hikmah (practical wisdom) with wisdom of the crowd enhances trust and credibility. This study solicits the views of crowdfunding organizers through personal interviews on the hikmah (practical wisdom) experience. The informants argued that the influence of hikmah can be sensed from the reciprocal engagement with various individuals and members of civil societies. The informants also contended that hikmah is present in the spirit of giving through the crowdfunding activities. Results of the study are limited to the contexts of the informants interviewed only. Future research should use a case study method on multiple stakeholders.

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Authors and Affiliations

  1. Kulliyyah of Economics and Management Sciences, International Islamic University Malaysia, Kuala Lumpur, Malaysia

    Suhaimi Mhd Sarif, Yusof Ismail & Dolhadi Zainudin

Authors
  1. Suhaimi Mhd Sarif
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  2. Yusof Ismail
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  3. Dolhadi Zainudin
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Corresponding author

Correspondence to Suhaimi Mhd Sarif .

Editor information

Editors and Affiliations

  1. Academy of Contemporary Islamic Studies, Universiti Teknologi MARA, Shah Alam, Malaysia

    Nur Nafhatun Md Shariff

  2. Academy of Contemporary Islamic Studies, Universiti Teknologi MARA, Shah Alam, Malaysia

    Mohd Asmadi Yakob

  3. Institute of Science, Universiti Teknologi MARA, Shah Alam, Selangor, Malaysia

    Zety Sharizat Hamidi

  4. Universiti Islam Sultan Sharif Ali, Bandar Seri Begawan, Brunei Darussalam

    Zeiad Amjad Abdulrazzak Aghwan

  5. Academy of Contemporary Islamic Studies, Universiti Teknologi MARA, Shah Alam, Malaysia

    Najahudin Lateh

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Sarif, S.M., Ismail, Y., Zainudin, D. (2022). Influence of Hikmah (Practical Wisdom) on Crowdfunding. In: Shariff, N.N.M., Yakob, M.A., Hamidi, Z.S., Aghwan, Z.A.A., Lateh, N. (eds) Selected Proceedings from the 1st International Conference on Contemporary Islamic Studies (ICIS 2021). Springer, Singapore. https://doi.org/10.1007/978-981-19-2390-6_15

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