IslamicFinance.de

EthisCrowd has been recognized as the Best Islamic Crowdfunding Platform for its social impact real estate campaigns in Indonesia. The Singapore-based platform received the award at the 6th Global Islamic Finance Awards (GIFA) 2016 in Jakarta. EthisCrowd said the inclusion of the crowdfunding category symbolized the growth and adoption of Islamic Crowdfunding. The platform’s community now claims 17,000 registered members who have invested in projects to build 5,000 houses for the needy in Indonesia. Ronald Yusuf Wijaya, EthisCrowd’s head of Indonesian operations, stated that affordable housing projects are commercially viable and can provide excellent returns for the crowd. EthisCrowd uses Mudarabah contracts to formalize rights to profit or revenue sharing for investors, directly with real estate developers and contractors. There is no capital guarantee or fixed interest rates for investors.

EthisCrowd.com, a Shariah compliant crowdfunding platform, is looking to raise up to S$1 million ($740,000) for a real estate crowdfunding initiative from senior executives and delegates present at the Global Islamic Finance Forum 5.0 in Kuala Lumpur next month. The funds will be raised for the Depok Dream Village in Jakarta. Founder Umar Munshi said he expects the projected returns to be 48 to 55 per cent over three to 3.5 years from a share of the development profits.