Posted on September 08, 2015

The Center for Islamic Economics and Finance at Qatar Faculty of Islamic Studies (QFIS), a college of Hamad bin Khalifa University (HBKU), member of Qatar Foundation for Education, Science and Community Development is hosting a public lecture titled, ‘Entrepreneurship, Crowdfunding, and Islamic Finance’ on Wednesday, 9th  September 2015, at its new building in Education City. QFIS is contributing to QF’s mission by accelerating social and economic prosperity for a knowledge-based economy. Furthermore, by strengthening the relationship between theory and practice of Islamic economics and finance, it is also supporting the Qatar National Vision 2030

The lecture will be delivered by Dr Shehab Marzban, Assistant Professor in Islamic Finance at QFIS and Co-founder of Shekra Crowdfunding. Dr Marzban will draw a distinction between the work of conventional and Islamic banks, and what they can offer to mobilise capital and promote inclusion through small and medium enterprises (SMEs) and startup businesses using innovative and desired asset-based and equity-based financial products.

Additionally, the talk will highlight the use of crowdfunding platforms as a tool to reduce risks in SMEs. Also there will be an emphasis on adapting ways to utilise the Internet and social media to raise financial resources from a large network of people in order to support initiatives, projects, or specific startups. Dr Marzban says: “Options such as venture capital funds, angel investments, and crowdfunding, which all mainly target innovative high growth startups, are linked to the concepts of Musharaka and Mudaraba, and are close to the fundamental principles of Islamic finance through meeting a set of Shari’a guidelines.”

Qatar Airways Baku

Dr Syed Nazim Ali, Director of the Center for Islamic Economics and Finance, thinks that entrepreneurship has a comprehensive and substantial role in the socioeconomic growth of both developed and developing countries. “For Islamic finance to be financially inclusive, entrepreneurship with crowdfunding can potentially be a useful tool at its disposal,” he says “With relevance to masses, crowdfunding has enticed Muslims and the field of Islamic finance because of its potential of extensive financial inclusion, high penetration, and permeability to new ideas and their dispersion to the masses.”

Therefore, the different Shariah-compliant Crowdfunding models allow a greater spectrum of financiers hence it can provide an opportunity for investors, philanthropists and entrepreneurs to contribute to the socioeconomic development of emerging countries through contributing to the micro and small enterprises as well as startups ecosystems. The talk will be delivered in English only. 

For more information about the Center, please visit: www.qfis.edu.qa/research-centres/center-islamic-economics-and-finance

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