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Fintech, Digitalization, and Blockchain in Islamic Finance: Retrospective Investigation

Author

Listed:
  • Ibrahim Musa Unal

    (Islamic Finance and Economy Program, Qatar Foundation, College of Islamic Studies, Hamad Bin Khalifa University, Ar-Rayyan 34110, Qatar)

  • Ahmet Faruk Aysan

    (Islamic Finance and Economy Program, Qatar Foundation, College of Islamic Studies, Hamad Bin Khalifa University, Ar-Rayyan 34110, Qatar)

Abstract

The increasing interest in Fintech, Blockchain, and Digitalization in Islamic Finance created a new area in the literature, requiring a systematic review of these academic publications. The scope of the analysis is limited to journal articles to understand the trends in the indexed journals. Results are categorized into three sections, Islamic banks’ digitalization, Blockchain and Crypto Assets research, and Islamic non-bank financial institutions’ digitalization. Islamic fintech has great potential mainly because of the overlapping norms of Shariah and fintech, making it easier to implement technological disruption into Islamic finance. Moreover, the trust shift to Islamic finance could be merged with the opportunities of fintech and increase the potential of Islamic fintech even more.

Suggested Citation

  • Ibrahim Musa Unal & Ahmet Faruk Aysan, 2022. "Fintech, Digitalization, and Blockchain in Islamic Finance: Retrospective Investigation," FinTech, MDPI, vol. 1(4), pages 1-11, November.
    • Handle: RePEc:gam:jfinte:v:1:y:2022:i:4:p:29-398:d:976031
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    References listed on IDEAS

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    2. Haris Alibašić, 2023. "Developing an Ethical Framework for Responsible Artificial Intelligence (AI) and Machine Learning (ML) Applications in Cryptocurrency Trading: A Consequentialism Ethics Analysis," FinTech, MDPI, vol. 2(3), pages 1-14, July.
    3. Luiz Antonio Bueno & Tiago F. A. C. Sigahi & Rosley Anholon, 2023. "Digital Banks in Brazil: Struggling to Reach the Breakeven Point or a New Evolution Wave?," FinTech, MDPI, vol. 2(3), pages 1-14, June.

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