Digital Transformation in Islamic Finance: A Critical and Analytical View

The impact of financial technology on the Islamic mode of financial intermediation is explored in the book. It assesses fintech business models, Shariah compliance, and the applicability of fintech to different branches of Islamic finance. It is of interest to students, analysts, policymakers, and regulators.

Format: Paperback / softback
Length: 304 pages
Publication date: 30 December 2022
Publisher: Taylor & Francis Ltd

The ever-evolving digital transformation is profoundly shaping the landscape of Islamic financial intermediation, exerting a multifaceted impact on the faith-based financial mode. This dynamic shift has sparked a multitude of intriguing questions, including: To what extent has Islamic finance permeated the fintech industry? Are Islamic financial institutions (IFIs) and banks prepared to embrace the advancements offered by fintech? Does fintech serve as a catalyst or a hindrance in achieving the core objectives of Islamic finance? Will technological advancements further blur the boundaries between Islamic and conventional finance in the future? These profound inquiries constitute existential dilemmas for Islamic finance, prompting the author to embark on a comprehensive examination of the impact of financial technology on the industry.

The book delves into a comprehensive assessment of diverse fintech business models, exploring their potential as both threats and opportunities. It further investigates whether fintech empowers IFIs to effectively serve clients in accordance with the Shariah norms, emphasizing the importance of adopting fintech in the Islamic mode to fulfill the fundamental principles of Shariah. The book explores the applicability of fintech innovations such as blockchain, digital currency, big data, and artificial intelligence to various branches of Islamic finance.

This book holds immense appeal to students, analysts, policymakers, and regulators engaged in the field of Islamic finance, financial economics, Islamic economics, and development finance. Its insights and analysis provide valuable perspectives, contributing to a deeper understanding of the evolving dynamics between technology and finance in the Islamic context.

Weight: 510g
Dimension: 233 x 156 x 22 (mm)
ISBN-13: 9781032200934