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Islamic FinTech

Insights and Solutions

Palgrave Macmillan
  • Explores FinTech from both Shari’ah and corporate perspectives, exploring it as a global phenomenon
  • Provides analysis of the Shari’ah model of FinTech, presenting a SWOT analysis and outlining conventional practices
  • Examines the opportunities, risks and takaful solutions that Islamic FinTech presents and covers regulatory standards and frameworks

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Table of contents (24 chapters)

  1. Front Matter

    Pages i-xliv
  2. Emergence of Islamic FinTech

    1. Front Matter

      Pages 1-1
    2. Emergence of i-FinTech in the Contemporary Socio-Economic Reality

      • Mohd Ma’Sum Billah, Suhail Ahmad, Sahibzada Ghisaul Haq
      Pages 3-18
    3. Fintech Versus I-Fintech: A Dichotomy

      • Faraz Adam
      Pages 19-35
  3. Regulatory Frameworks of Islamic FinTech

    1. Front Matter

      Pages 57-57
    2. Central Banks and Financial Authorities: Towards the Advancement of I-Fintech

      • Nafis Alam, Abdolhossein (Pejman) Zameni
      Pages 59-72
    3. Analysis of Fatwas on FinTech

      • Mohamed Cherif El Amri, Mustafa Omar Mohammed
      Pages 73-90
    4. An Evaluation of Smart Contracts: Practices, Legality, and Sharī‘ah

      • Nor Razinah Mohd. Zain, Khairul Azmi Mohamad
      Pages 91-110
    5. Digital Smart Contracts: Legal and Shari’ah Issues

      • Ainul Azam bin Ahmad Khamal
      Pages 111-124
    6. Judicial Procedures in I-Fintech: The Malaysian Experience

      • Ainul Azam bin Ahmad Khamal
      Pages 125-140
  4. Islamic FinTech: Its Mechanisms and Applications

    1. Front Matter

      Pages 141-141
    2. The Forms and Effects of Cryptocurrencies in a Dual Banking System

      • Khoutem Ben Jedidia, Hichem Hamza
      Pages 143-171
    3. Islamic FinTech and Financial Inclusion

      • Aishath Muneeza, Zakariya Mustapha
      Pages 173-190
    4. Enhancing Financial Inclusion Using FinTech-Based Payment System

      • Mohamed Cherif El Amri, Mustafa Omar Mohammed, Ayman Mohamad Bakr
      Pages 191-207
    5. Islamic FinTech and Financial Inclusion

      • Ahmed Tahiri Jouti
      Pages 209-229
    6. Utilization of Digital Technology for Zakat Development

      • Irfan Syauqi Beik, Randi Swandaru, Priyesta Rizkiningsih
      Pages 231-248
    7. The Opportunities of Digital Wallets from an Islamic Perspective

      • Mezbah Uddin Ahmed, Kazi Md Tarique
      Pages 267-279
    8. The Optimization of Blockchain for Greater Transparency in Zakat Management

      • Irfan Syauqi Beik, Muhammad Hasbi Zaenal, Abdul Aziz Yahya Saoqi
      Pages 281-297

About this book

This timely book addresses the effects and implications of rapid technological changes within the financial services industry on Islamic finance and Islamic banks. Exploring current challenges, opportunities and threats, the authors provide an overview of how FinTech can operate within an Islamic context, under the Shari’ah principles or the Halal framework, for example. Examining the potential opportunities of Islamic FinTech from a socio-economic perspective, this edited collection will be of use to anyone researching FinTech or Islamic Finance as well as practitioners and policy-makers involved in banking and financial services.

Editors and Affiliations

  • Islamic Economics Institute, King Abdulaziz University, Jeddah, Saudi Arabia

    Mohd Ma’Sum Billah

About the editor

Mohd Ma’Sum Billah is a Professor of Finance, Insurance, FinTech and Investment at the Islamic Economics Institute of King Abdul Aziz University, Kingdom of Saudi Arabia. He is an internationally renowned Islamic finance scholar. He has served and contributed to academia and corporate industries for over 20 years providing management, teaching, research and problem-solving, particularly in the areas of Islamic finance and insurance (Takaful), and the Halal standard. Mohd has published 32 books and chapters in books as well as over 200 articles in journals and on social media. He has presented at numerous conferences, seminars, executive workshops and industrial training sessions around the globe. In addition, he has been affiliated with various companies, universities and financial institutions including central banks, international corporate organisations, governments and NGOs in his capacity as a member on boards, an advisor, a strategic decision-maker and a reformer with a strategic solution-provider. His areas of interest include Islamic finance and insurance (Takaful), crowdfunding, investment, Waqf, capital markets (Sukuk), social finance, the SDGs and FinTech.

Bibliographic Information

  • Book Title: Islamic FinTech

  • Book Subtitle: Insights and Solutions

  • Editors: Mohd Ma’Sum Billah

  • DOI: https://doi.org/10.1007/978-3-030-45827-0

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2021

  • Hardcover ISBN: 978-3-030-45826-3Published: 28 January 2021

  • Softcover ISBN: 978-3-030-45829-4Published: 28 January 2022

  • eBook ISBN: 978-3-030-45827-0Published: 27 January 2021

  • Edition Number: 1

  • Number of Pages: XLIV, 465

  • Number of Illustrations: 31 b/w illustrations, 3 illustrations in colour

  • Topics: Financial Services, Business Finance

Buy it now

Buying options

eBook USD 129.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 169.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access