Islamic Finance, Islamic Fintech, and Digital Currency in the Digital Transformation Era

Abstract

Within the rapidly changing world of finance, Islamic finance is a unique sector with fundamentally ethical and Shariah-compliant processes at its core. A new age of innovation and accessibility in the financial industry has been brought about by the rise of Financial Technology, or Fintech. This chapter explores the intersection of Fintech, Blockchain, and Islamic finance and shows how these developments have revolutionized the market. The chapter seeks to offer a thorough analysis of the three main ways that Fintech—Digitalization, Development, and Disruption—is changing Islamic finance. It examines the current digital revolution in Islamic finance, investments, wealth management, insurance (takaful), and real-world examples and case studies. The book also investigates the development of Shariah-compliant Fintech solutions, or Shariahtech, and the regulatory frameworks supporting their growth.