Rastin Crowdfunding (RCF): A Financial Subsystem of Rastin Banking

  • Bijan Bidabad Professor, Economics and Chief Islamic Banking Advisor, Bank Melli, Iran
Keywords: : Social networks, Crowdfunding, Rastin Banking, Sponsor Crowd Funding, Peer-to-Peer Loan, Rastin Crowd Funding System, Islamic Banking

Abstract

Expansion and development of social networks have provided new backgrounds for financial activities. Based on Rastin Banking Regulations, crowdfunding can be installed to apply social networks in the direction of Islamic finance. Two methods of crowdfunding are introduced in Rastin Crowd Funding. Sponsor Crowd Funding (SCF) is for the absorption of peoples’ funds for special protective goals in the form of non-profit and free payments to an entrepreneur through banks. Peer to Peer Loan (PPL) is defined for absorption and collection of peoples’ funds for extending interest-free loans to a specific project of an entrepreneur.Regarding the characteristics of crowdfunding and application of social networks, the Crowd Funding System (CFS) is used as a web-based portal for absorption and collection of money resources for crowdfunding project through social networks in Rastin Banking.

References

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Published
2019-05-25
How to Cite
Bidabad, B. (2019). Rastin Crowdfunding (RCF): A Financial Subsystem of Rastin Banking. International Journal of Islamic Banking and Finance Research, 3(1), 13-20. https://doi.org/10.46281/ijibfr.v3i1.265

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