Abstract
The new age Fintech-driven innovative financial services started with the fourth industrial revolution and COVID-19 has stimulated supreme innovation in the global financial services industry. It is the young and millennial population driving these innovations and startups are responding, as there are more than 15,000 startups and global Fintech-based transaction crossed $6.308 Billion by the year 2020. Islamic finance industry has experienced an unprecedented growth, partly due to incremental investment in Fintech-based financial intermediation. Two most commonly cited high growth areas for Islamic finance lie within blockchain and crowdfunding. This study provides an advanced overview of the Islamic Fintech, blockchain and crowdfunding; their current landscape; and path forward. We discuss opportunities for Islamic financial institutions and a clear roadmap to capitalize on those opportunities.
| Original language | English |
|---|---|
| Title of host publication | FinTech in Islamic Financial Institutions Scope, Challenges, and Implications in Islamic Finance |
| Publisher | Palgrave Macmillan |
| Pages | 307-340 |
| ISBN (Print) | 9783031149412, 9783031149405 |
| DOIs | |
| Publication status | Published - 30 Nov 2022 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 9 Industry, Innovation, and Infrastructure
Keywords
- Blockchain
- Crowdfunding
- Islamic FinTech
- Islamic banking
- Islamic finance
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