Fintech and Islamic financial institutions: Applications and challenges
Book chapter
Abdeljawad, I., Hashem, S, Q. and Rashid, M. 2022. Fintech and Islamic financial institutions: Applications and challenges. in: Hassan, M. K., Rabbani, M. R. and Rashid, M. (ed.) FinTech in Islamic Financial Institutions Scope, Challenges, and Implications in Islamic Finance Cham Palgrave Macmillan. pp. 193-222
Authors | Abdeljawad, I., Hashem, S, Q. and Rashid, M. |
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Editors | Hassan, M. K., Rabbani, M. R. and Rashid, M. |
Abstract | Fintech is revolutionizing the way consumers react to financial services offered, the channels of service delivery by financial institutions, and the process of regulating a series of emerging technologies by the regulators. Large, generally conventional, banks are believed to have strong technology infrastructure to support such a massive change, while Islamic financial institutions, with relatively smaller size and clustered operation, may find Fintech as a new challenge. Despite numerous published sources on Islamic banks’ exposure to Fintech, resources on the broader domain of Islamic financial institutions are relatively smaller. This chapter emphasizes this gap and points out how Islamic banks and their allied siblings are exposed to Fintech. We discuss points of convergence between Fintech and Islamic finance by taking examples from applications currently in existence. We also discuss relevant challenges. |
Keywords | FinTech; Islamic financial instutions; Islamic banking |
Page range | 193-222 |
Year | 2022 |
Book title | FinTech in Islamic Financial Institutions Scope, Challenges, and Implications in Islamic Finance |
Publisher | Palgrave Macmillan |
Output status | Published |
Place of publication | Cham |
ISBN | 9783031149412 |
9783031149405 | |
Publication dates | |
Online | 30 Nov 2022 |
01 Dec 2022 | |
Publication process dates | |
Deposited | 23 May 2023 |
Digital Object Identifier (DOI) | https://doi.org/10.1007/978-3-031-14941-2_10 |
Official URL | https://link.springer.com/chapter/10.1007/978-3-031-14941-2_10 |
Related URL | https://doi.org/10.1007/978-3-031-14941-2 |
https://repository.canterbury.ac.uk/item/94q5x/fintech-and-islamic-financial-institutions-applications-and-challenges
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