Financial Technology Application and Islamic Crowdfunding

Any advancement in innovation and technology is admissible in Islam as long as it agrees with the Sharia rules. This paper intends to depict the viability of Islamic crowdfunding (ICF) as a financial technology (Fintech) product and an alternative form of financing small and medium enterprises (SMEs) in the Islamic world. The methodology of this study is a qualitative research design depends on in-depth interviews, literature review, historical analysis and critical discussion. Data analysis was conducted using NVivo. The findings of this study are relied upon to add the literature of Islamic Fintech which has been insufficient until this moment.