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Blockchains for Islamic finance: Obstacles & Challenges

Author

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  • Elasrag, Hussein

Abstract

This paper focuses on analyzing the innovative technology “Blockchain” and the potential of blockchain-based applications for Islamic finance. The main objectives were to define how blockchain can change the Islamic finance industry. The paper discussed the various interesting applications of blockchain in Islamic finance that can bring different benefits. The paper also shed light on the challenges facing Applying Blockchains for Islamic finance .

Suggested Citation

  • Elasrag, Hussein, 2019. "Blockchains for Islamic finance: Obstacles & Challenges," MPRA Paper 92676, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:92676
    as

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    File URL: https://mpra.ub.uni-muenchen.de/92676/1/MPRA_paper_92676.pdf
    File Function: original version
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    References listed on IDEAS

    as
    1. Elasrag, hussein, 2011. "Principals of the Islamic finance:A focus on project finance," MPRA Paper 30197, University Library of Munich, Germany.
    2. Nafis Alam & Lokesh Gupta & Bala Shanmugam, 2017. "Islamic Finance," Springer Books, Springer, number 978-3-319-66559-7, September.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Chunling Li & Nosherwan Khaliq & Leslie Chinove & Usama Khaliq & József Popp & Judit Oláh, 2023. "Cryptocurrency Acceptance Model to Analyze Consumers’ Usage Intention: Evidence From Pakistan," SAGE Open, , vol. 13(1), pages 21582440231, March.
    2. Walaa J. Alharthi, 2021. "Using Blockchain in WAQF, Wills and Inheritance Solutions in the Islamic System," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 101-116.
    3. Mohammad Sahabuddin & Junaina Muhammad & Mohamed Hisham Yahya & Sabarina Mohammed Shah & Md. Kausar Alam, 2019. "Digitalization, Innovation and Sustainable Development: An Evidence of Islamic Finance Perspective," International Journal of Asian Social Science, Asian Economic and Social Society, vol. 9(12), pages 651-656, December.

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    More about this item

    Keywords

    blockchain; Islamic finance; waqf; zakat; Smart Sukuk ; Takaful;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion

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