European Parliament Library

Digital transformation in Islamic finance, a critical and analytical view, edited by Yasushi Suzuki and Mohammad Dulal Miah

Summary
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
Table Of Contents
Cover -- Half Title -- Series Page -- Title Page -- Copyright Page -- Table of Contents -- List of figures -- List of tables -- List of contributors -- Foreword -- Preface -- Acknowledgements -- Introduction -- Part I: Theoretical and philosophical speculations on digital transformation in Islamic finance -- 1 Digital transformation in Islamic finance: a critique of perfectionist's views on Islamic fintech -- 2 A typology of financial business models on digital transformation ('DX'): expected impacts on commercial banks -- 3 Fintech, technomania, and persistent socio-civilizational challenges -- Part II: Empirical studies -- 4 Business risk mitigation through 'Value-Chain Integrated' financing in Islamic Peer-to-Peer Lending in Indonesia: PT Qazwa Mitra Hasanah's experience -- 5 Prospects and opportunities of Islamic crowdfunding in Bangladesh -- 6 Empirical assessment on digital transformation in Islamic banking -- 7 Fintech in Islamic banking in Bangladesh: opportunities and threats -- 8 Exploring digital banking patronage in the Netherlands -- 9 Can Islamic FinTech best serve the migrants' interest in remittance services? The South and South-East Asian perspective -- 10 The impact of central bank digital currency (CBDC) on the operations of Islamic Banks -- 11 Takafultech reflects the Maqasid al-Shariah ethos in takaful -- 12 Digital transformation and IFRS 17 accounting issues in takaful industry: the case of Indonesia -- 13 Dilemma and challenges for fintech application in Waqf administration/regulation in contemporary Muslim majority countries: a case of Bangladesh -- 14 Breaking the barriers of Zakat management system through Islamic Fintech: the case of Bangladesh -- 15 An inquiry into the application of artificial intelligence on Fatwa -- Conclusion -- Index
Language
eng
Literary Form
non fiction
Copyright
Physical Description
1 online resource (331 pages), illustrations.
Specific Material Designation
remote
Form Of Item
online
Isbn
9781000827224

Library Locations

  • EP Library Luxembourg

    Rue du Fort Thüngen, Luxembourg, L-1313, LU
    Borrow
  • EP Library Strasbourg

    7 Place Adrien Zeller, Allée du Printemps, Strasbourg, F-67070, FR
    Borrow
  • EP Library Brussels

    60 rue Wiertz, Brussels, B-1047, BE
    Borrow