FinTech in Islamic financial institutions : scope, challenges, and implications in Islamic finance / / edited by Kabir Hassan, Mustafa Raza Rabbani, Māmunura Rashid

• Pubblicazione: Cham, Switzerland : , : Palgrave Macmillan, , [2022]; ©2022
• Descrizione fisica: 1 online resource (xxx, 359 pages : illustrations (black and white, and color))
• Disciplina: 332.091767
• Soggetto topico: Finance (Islamic law); Financial services industry - Law and legislation
• Persona (resp. second.): HassanKabir; RabbaniMustafa Raza; RaśīdaMāmunura
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Intro -- Foreword -- Preface -- Introduction -- This Issue -- Summary and Way Forward -- Contents -- Notes on Contributors -- List of Figures -- List of Tables -- Introduction to Islamic Fintech: A Challenge or an Opportunity? -- 1 Introduction -- Islamic Finance -- Fintech and Its Theoretical Basis -- Growth of Fintech -- Fintech Entrepreneurship: Benefits and Challenges -- 2 Islamic Finance -- Prohibitions -- Promotion -- 3 Point of Convergence Between Fintech and Islamic Finance -- Major Attractions of Fintech -- Islamic Finance and Fintech -- 4 Challenges -- Shariah Non-Compliance -- Public Perception of Islamic Finance -- Talent Gap -- Unfavorable Regulatory Environment -- Cyber Security -- Competing Against Modern Innovations and Technological Advancement -- 5 Opportunities -- New Startup -- Financial Inclusion -- Financial Fraud Detection and Security -- Diversity -- Partnership and Collaborations -- 6 Conclusion -- References -- Fintech and the Art of Disruption -- 1 Introduction -- History of Fintech -- Fintech 1.0 (1866-1967) -- Fintech 2.0 (1967-2008) -- Fintech 3.0 (2008-present) -- Definition of Fintech and Financial Disruption -- Payment Apps, Lending Platforms, and Investment Apps -- Popular Types of Fintech Used By Consumers -- Mobile Payment Services -- Lending Platforms -- Lending Tree -- Better -- Investment Apps -- 2 Cryptocurrency -- 3 Benefits and Risks to Consumers -- Benefits -- Low Cost -- Improved Compliance and Security -- High Speed and Convenience -- Stimulus Payments to Consumers -- Direct Cash Payments -- Helping Small and Medium Enterprises (SMEs) -- Financing Became More Obtainable -- 4 Regulation -- 5 Conclusion -- References -- A Fintech-Based Zakat Model Using Artificial Intelligence -- 1 Introduction -- 2 Poverty and COVID-19 -- 3 Impact of COVID-19 on Poor and Vulnerable Section of the Society. ; Impact on Wage Income -- Impact on Consumption -- Disruption in Services -- 4 Maqasid Al-Sharia and the Economic Potential of Zakat in Helping the Poor During Pandemic -- 5 AI Based Islamic Fintech Model for Zakat -- 6 Conclusion -- References -- Islamic Fintech and Bahrain: An Opportunity for Global Financial Services -- 1 Introduction -- 2 Gaps and Opportunities in Global Islamic Fintech -- 3 New Regulations by Bahrain's Central Bank -- 4 Emerging Technologies in the Kingdom of Bahrain -- Forms of Emerging Technologies in Bahrain -- Developing Bahrain's Tech Ecosystem -- Technology in the Financial Sector (Fintech) -- Accelerator for Startups -- Open Banking -- In the Era of IoT (Internet of Things) -- Technology Based on Blockchains -- Analytical Techniques -- Suggest a Data Set -- Cloud Computing -- Innovation Center at the University of Bahrain -- Pay with an eWallet -- Know Your Customer (KYC) Electronically -- Machine Learning, or Artificial Intelligence (AI) -- Introducing Robotics -- Oil & -- Gas 4th Industrial Revolution -- Smart Cities -- Fourth Industrial Revolution Education -- 5 Gaps and Opportunities in Bahrain Islamic Fintech -- A Leading Knowledge Hub -- An Expanding Takaful Industry -- Regional Leader in Islamic Finance -- Promoting Innovation in Government -- Setting up a Successful Platform -- Future-Oriented Governmental Policy -- Legal Sandbox -- Crowdfunding Initiatives -- Establishing a Local Test Market of Exceptional Quality -- 6 Conclusion -- References -- The Future of Finance and Fintech: Visualizing the Opportunities for Fintech in the MENA Region -- 1 Introduction -- 2 Participants of Fintech Ecosystem -- 3 Fintech Ecosystem Design -- Marketing Environment -- Governance Support -- Financial Accessibility -- Financial Know-How -- 4 Emerging Role of MENA in Investment Fund -- 5 Fintech Investment in MENA Region. ; Investment in Fintech -- Relationship Banking -- Increase in Cloud Banking -- Embedded Finance -- 6 Fintech Startups Distribution Among MENA Countries -- 7 Conclusion -- References -- Fintech Trends: Industry 4.0, Islamic Fintech, and Its Digital Transformation -- 1 Introduction -- 2 Review of Literature -- Fintech -- Industry 4.0 -- Islamic Fintech -- 3 Discussion -- 4 Conclusion -- References -- An Insight into the Fintech and Islamic Finance Literature: A Bibliometric and Visual Analysis -- 1 Introduction -- 2 Methodology -- 3 Data Analysis and Visualisation -- Most Influential Author -- Most Important Documents -- Influential Journals -- Country and Affiliations -- Co-Citation Analysis -- 4 Keyword Co-Occurrence Analysis -- Bibliographic Coupling of Documents -- 5 Future Expansion -- 6 Conclusion -- References -- Fintech Innovation and Its Application in Islamic Banking from Pakistan -- 1 Introduction -- 2 Literature Review -- Application of Fintech Innovations in the Islamic Banking Industry -- Islamic Finance and Adoption of Fintech Solutions -- 3 Methodology -- 4 Results and Discussion -- Additional Analysis -- 5 Conclusion -- References -- Fintech in the Islamic Banking Sector and Its Impact on the Stakeholders in the Wake of COVID-19 -- 1 Introduction -- 2 Islamic Fintech and Its Application in Islamic Banking Industry -- 3 Islamic Fintech and Its Impact on Banking Stakeholders Following COVID-19 -- 4 Conclusion -- References -- Fintech and Islamic Financial Institutions: Applications and Challenges -- 1 Introduction and Theoretical Background -- 2 Growth of Fintech -- History -- Users' Perception: EY Fintech Global Adoption Index (2019) -- Fintech Unicorns -- Islamic Fintech Worldwide -- 3 Applications of Fintech in Islamic Finance -- Payments and Remittances -- Deposits and Lending -- Challenger Banking -- Open Banking. ; Unbanked/Under-Banked Facilities -- Alternative Finance -- Digital Wallets: Most Common Fintech Product -- Asset Management and Robo-Advisory -- Smart Sukuk -- InsureTech and TakaTech -- 4 Fintech and Islamic Finance: Complementary or Competitive -- 5 Conclusion -- References -- An Assessment of Level of Adoption of Fintech in Islamic Banks in the MENA Region -- 1 Introduction -- 2 The Rise of Financial Technology (Fintech) -- 3 Imperatives of Fintech Technologies to Islamic Finance -- 4 Overview of Fintech in Islamic Financial Institutions in Middle East and North Africa (MENA) Region -- Financial Inclusion -- Islamic Social Finance -- Improve Regulations and Promote Transparency -- 5 Fintech in Islamic Financial Institutions and Banking Industry in MENA Region -- 6 Conclusion -- References -- Fintech, Pandemic, and the Islamic Financial System: Innovative Financial Services and Its Shariah Compliance -- 1 Introduction -- 2 The Role of FinTech in Islamic Finance -- 3 Fintech and Bitcoin -- Fintech and Blockchain (BC) -- 4 Fintech-Based Islamic Financial Services -- Payments Industry -- P2P Lending and Crowdfunding -- Neo-Banking -- Asset Under Management -- InsurTech -- 5 Blockchain -- Cloud Computing -- Big Data Analysis -- Robo-Advisors (RA) -- Artificial Intelligence -- 6 Conclusion -- References -- An Islamic Finance Perspective of Crowdfunding and Peer-To-Peer (P2P) Lending -- 1 Introduction -- 2 Crowdfunding and Peer-To-Peer Lending: An Overview -- Crowdfunding -- Peer-To-Peer (P2P) Lending -- 3 Challenges in Existing Islamic Crowdfunding and P2P Lending Platforms -- 4 Conclusion and Future Work -- References -- Islamic Finance and Cryptocurrency: A Systematic Review -- 1 Introduction -- 2 An Overview of the Literature on Cryptocurrency and Sharia Compliance -- 3 Discussion and Findings -- Arguments Against Cryptocurrency. ; Excessive Uncertainty -- Not Backed by the Real Assets -- No Regulating Bodies -- Safety and Security of the Investors -- Misuse by the Anti-social Elements -- Arguments in Favor of Cryptocurrency -- It's not Just Current and there is More to it -- Blockchain Technology -- Uncertainty and Gharar -- Can Help in Fight Against Money Laundering -- 4 Conclusion -- References -- Islamic Fintech, Blockchain and Crowdfunding: Current Landscape and Path Forward -- 1 Introduction -- 2 Review of Literature -- Fintech -- Islamic Fintech -- Blockchain -- Crowdfunding -- Discussion -- 3 Future Islamic Fintech-Based Financial Services -- 4 Conclusion -- References -- COVID-19 Challenges and the Role of Islamic Fintech -- 1 Introduction -- 2 The Rise of Fintech and Its Significance for Islamic Banking Through the Use of Blockchain Technology and Artificial Intelligence -- Evolution of FinTech -- Evolution of Islamic FinTech -- Artificial Intelligence -- 3 Usefulness of Islamic FinTech in Overcoming the COVID-19 Shocks -- 4 Conclusion and Recommendations -- References -- Index.
• Sommario/riassunto: This book explores several challenges facing FinTech in Islamic financial institutions. Firstly, large banks and financial institutions in countries with updated and innovative technological channels will earn the technology arbitrage from FinTech. This size puzzle may create a challenge for Islamic financial institutions that are of smaller size and from technologically less-developed countries. Secondly, while access to FinTech is getting broader day by day, usage of FinTech is still limited due to personal and governance-related limitations. Moreover, the level of awareness of the emerging FinTech services (i.e., bitcoin, blockchain, etc.) remains extremely poor even among the residents of technologically-advanced countries. Thirdly, use of FinTech by Islamic financial institutions is limited to Islamic banking, to users from developed countries, among young customers, and for a limited number of traditional banking services such as the deposits and payment services. Also, banks hope to use FinTech to increase the size of a new breed of technology-savvy depositors and loan customers to achieve economies of scale, which may help stabilize the banking sector. Automation in Islamic banks and the participation of Islamic financial institutions in blockchain and bitcoin domains require extensive research from Shariah-compliance as well as market and consumer-related grounds. With all the opportunities and challenges of Fin Tech promoting inclusion, easier loan monitoring, and risk of Shariah non-compliance this book explores the implications for Islamic financial institutions and will be of interest to scholars, researchers, and students of Islamic finance and financial technology. M. Kabir Hassan is a Professor of Finance in the Department of Economics and Finance in the University of New Orleans, USA. He currently holds two endowed Chairs Hibernia Professor of Economics and Finance, and Bank One Professor in Business. He is the winner of the 2016 Islamic Development Bank (IDB) Prize in Islamic Banking and Finance. Mustafa Raza Rabbani is an Assistant Professor in the Department of Economics and Finance at the University of Bahrain and holds a PhD in Banking and Financial Services from Jamia Millia Islamia University, India. Mamunur Rashid is a Senior Lecturer in Finance at the Christ Church Business School, Canterbury Christ Church University, UK. Prior to joining CCCU, he taught Finance at University Brunei Darussalam, the University of Nottingham, and East West University for more than 17 years.
• Titolo autorizzato: FinTech in Islamic Financial Institutions
• ISBN: 3-031-14941-6
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910633921103321
• Lo trovi qui: Univ. Federico II