Digital Transformation in Islamic Finance

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artificial intelligence ethics
BB
Big chain
Blockchain
Blockchain Technology
BRAC
Category=KFFH
Category=KFFK
central bank digital currency
crowdfunding models
Digital Banking
Digital Currency
digital innovation in Islamic financial services
Digital Transformation
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eq_business-finance-law
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Financial Disintermediation
Financial Inclusion
Financial Intermediation
Financial Technology
Full Fledged Islamic Banks
IFIs
IFSB
Islamic Banking Industry
Islamic Banks
Islamic Finance
Islamic Finance Industry
Muslim Majority Countries
Open banking and open finance
Otoritas Jasa Keuangan
P2P Lending
P2P Mode
P2P Platform
Shariah-compliant fintech
Smart Contract
SME
takaful technology
value-chain financing
Waqf Administration
Zakat Management

Product details

  • ISBN 9781032200910
  • Weight: 1120g
  • Dimensions: 156 x 234mm
  • Publication Date: 30 Dec 2022
  • Publisher: Taylor & Francis Ltd
  • Publication City/Country: GB
  • Product Form: Hardback
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The ongoing digital transformation is shaping the Islamic mode of financial intermediation and the impact on the faith-based financial mode has been multifaceted. This has raised a host of interesting questions: what is the degree of penetration of Islamic finance in the fintech industry? Are Islamic financial institutions (IFIs) or banks ready to embrace fintech? Is fintech an enabler or barrier to achieve the intended purpose of Islamic finance? Will technology narrow the division between Islamic and conventional finance in the future? These are existential questions for Islamic finance and the book endeavors to examine the impact of financial technology on the industry.

The book assesses various fintech business models and how they could be a threat or an opportunity. It also examines whether fintech provides IFIs an edge to serve clients following the Shariah norms and how the adoption of fintech in the Islamic mode is required for meeting the maqasid Al Shariah. The book discusses applicability of fintech like blockchain, digital currency, big data, and AI to different branches of Islamic finance.

This book will interest students, analysts, policymakers, and regulators who are working on Islamic finance, financial economics, Islamic economics, and development finance.

Yasushi Suzuki is a Professor at Ritsumeikan Asia Pacific University, Japan.

Mohammad Dulal Miah is an Associate Professor at the University of Nizwa, Oman.