A Study to Explore and Analyze the Mosque-Based Cooperative Business Model, its Underlying Principles and its Potential Impact on Local SMEs

Abstract

This article gives a thorough investigation into the mosque-based cooperative business model, its guiding principles, and its possible effects on community small and medium-sized companies (SMEs). Mosques have historically played an important role in community development and social cohesion as well as serving as religious organizations. In recent years, an increasing number of mosques throughout the world have embraced the idea of cooperative economy, combining their resources and energies to assist neighborhood businesses and promote economic development. The study obtained data from qualitative interviews with mosque administrators, SME owners, and community members. The study looks into the tenets of cooperatives founded on mosques, including mutual help, shared ownership, moral business conduct, and community empowerment. It also looks at the practical facets of these cooperatives, such as membership arrangements, governance forms, funding schemes, and methods for working with nearby SMEs. The results of this study add to the body of knowledge on community-driven projects and alternative economic models. It clarifies the mosque-based cooperative model as a potentially effective strategy for promoting entrepreneurship, economic growth, and social cohesion at the local level. For policymakers, community leaders, and practitioners interested in advancing inclusive and sustainable economic systems, the research also underscores the difficulties and opportunities related to putting into practice and maintaining such cooperative ventures.