Fintech, Digital Currency and the Future of Islamic Finance

Beschreibung

The banking and financial landscape has been inundated with technology over the last decade, with FinTech, InsurTech and RegTech being just some of the new applications within finance. In the Gulf Cooperation Council (GCC), FinTech is yet to find its feet despite several digital transformation drives initiated by the regional governments in the UAE and Bahrain. In comparison to conventional finance, the use of FinTech within Islamic financial institutions (IFIs) in GCC countries is still in its very early stages. However, the potential disruption that technology may cause for the Islamic finance sector within this region cannot be underestimated. Aiming to highlight, examine and address key strategic, operational and regulatory issues facing IFIs as they make an effort to keep up with the FinTech revolution, this book explores the market positioning, product structure and placement, delivery channels and customer requirements within the GCC market. The authors evaluate the current situation and look forward to future regulation surrounding technology and financial institutions within the GCC. Scholars and students researching Islamic finance and financial technology will find this book an insightful and valuable read, as well as those interested in international finance more generally.

Showcases Shariah and other risk areas associated with FinTech, and evaluates how current regulation is responding

Discusses the emergence of Islamic FinTech players in the GCC region, explaining how Islamic banks are working with FinTech startups, locally, regionally and internationally

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Nafis Alam

Themen in »Fintech, Digital Currency and the Future of Islamic Finance«

Cryptocurrency Blockchain Fintech Bitcoin Digital banking Islamic finance Smart Contract Online Trading Banking Smart Contracts Regulation GCC Arab states Bahrain Kuwait

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“FinTech is a great testimony of the power of entrepreneurship and technology when combined. It is no longer a disruption to the financial system but rather an accelerator of better customer service in a more affordable and compliant manner; the sooner the global and regional financial institutions realise this, the sooner they will gain from the phenomena. Islamic finance is no exception to such change. With comprehensive and in-depth coverage of FinTech, cryptos, and Islamic legal perspectives and regulations, this book is a must-read for any modern regulator, banker and researcher.”

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