Green Financing for SMEs in Bangladesh by developing an Integrative Islamic Crowd Funding Framework

In several Muslim nations, such as Pakistan, Malaysia, and Indonesia, Islamic crowd funding is a relatively new phenomena. It gives business owners a Shariah-compliant way to raise capital for their ventures. There are a few crowd sourcing sites in Bangladesh, however they don't do much. Bangladesh, a country with a large Muslim population, has not yet developed a sizable crowd funding platform. According to the World Bank Productivity and Investment Climate Survey, access to finance is among the key challenges faced by SMEs in Bangladesh. Loans from banks are the predominant source of finance for small and medium enterprises and it can satisfy up to 80 per cent of SME capital needs. However, past studies have discussed the struggle of SMEs with access to finance from the banking sector. Lack of access to finance acts as a driver for other key challenges faced by an SME and diminishes its growth opportunities.