Empirical investigation of Islamic legal framework, crowd humanitarian funds and poverty reduction in selected Organization of Islamic Cooperation (OIC)

Abstract

PurposeThis study reports the results of the empirical investigation of the Shari'ah legal framework which serves as a basis of the crowd humanitarian fund and poverty reduction among members of Organization of Islamic Cooperation (OIC) for improving living conditions of less privileged people in the society.Design/methodology/approachQuantitative design was employed in this study and the population comprised middle and high-skilled workers among members of the OIC.FindingsThe results demonstrated that the majority of middle- and high-skilled workers were from the middle east and others were from Saudi Arabia, Asia and Africa respectively.Research limitations/implicationsMost studies on crowd humanitarian funds were theoretical in nature, this study has empirically investigated.Practical implicationsBy making crowd humanitarian funds to be grounded within the framework of Shari'ah, it will enable majority of people in predominant Muslim countries to partake in mutual or crowd funding in order to help the less-privileged individuals among OIC members in the society.Social implicationsIt is an important contribution for financial inclusion and economic growth for improving social and living conditions of the less privileged people in the society.Originality/valueMost studies on crowd humanitarian funds were theoretical in nature; this study has empirically provided a substantial direction for activating the mindset of the empirical investigation of different financial concepts.Peer reviewThe peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-12-2022-0773.