Fintech in islamic finance literature: A review

Nurcahya Hartaty Posumah

doi:10.62207/nxzz5g94

Authors

Nurcahya Hartaty Posumah Universitas Muhammadiyah Luwuk Author

DOI:

https://doi.org/10.62207/nxzz5g94

Keywords:

Fintech, Islamic Finance, Technology Integration, Sharia Principles

Abstract

This literature review examines the role of fintech in the context of Islamic finance. Through a systematic analysis of relevant literature, this research highlights the contribution of fintech in improving Islamic financial services as well as the challenges faced in the integration process. These findings indicate that although fintech has opened the door to innovation in the Islamic finance industry, there is still a need to overcome barriers related to sharia compliance and consumer protection. Therefore, this research underlines the importance of a careful and planned approach in integrating fintech with Islamic finance principles.

References

Ahmad, S. M., & Al Mamun, A. (2020). Opportunities of Islamic fintech: The case of Bangladesh and Turkey. CenRaPS Journal of Social Sciences, 2(3), 412-426.

Alam, N., & Nazim, S. (2021). Fintech, Digital Currency and the Future of Islamic Finance. Cham: Springer International Publishing, 257.

Alam, N., Gupta, L., Zameni, A., Alam, N., Gupta, L., & Zameni, A. (2019). Challenges and success factors for Islamic fintech. Fintech and Islamic Finance: Digitalization, Development and Disruption, 159-173.

Ali, H., Abdullah, R., & Zaini, M. Z. (2019). Fintech and its potential impact on Islamic banking and finance industry: A case study of Brunei Darussalam and Malaysia. International Journal of Islamic Economics and Finance (IJIEF), 2(1), 73-108.

Ali, H., Mohamed, H., Hashmi, H. S., & Abbas, M. H. (2019). Global Landscape of the Islamic Fintech: Opportunities, Challenges and Future Ahead. COMSATS Journal of Islamic Finance (CJIF), 4(2).

Ali, M., Raza, S. A., Khamis, B., Puah, C. H., & Amin, H. (2021). How perceived risk, benefit and trust determine user Fintech adoption: a new dimension for Islamic finance. foresight, 23(4), 403-420.

Alshater MM, Saba I, Supriani I, Rabbani MR. Fintech in islamic finance literature: A review. Heliyon. 2022 Aug 28;8(9):e10385. doi: 10.1016/j.heliyon.2022.e10385. PMID: 36060472; PMCID: PMC9437812.

Ariany, V. (2024). The Future of Accounting and Finance: Trends and Challenges. Accounting Studies and Tax Journal (COUNT), 1(2), 150-157.

Aysan, A.F., & Unal, I.M. (2023). Challenges in Islamic Fintech and Digitalization: An Extensive Literature Review. World Scientific Annual Review of Islamic Finance.

Bambang Purwoko, M. B. A., & Ec Hartati Kanti Astuti, M. M. (2017). 1. Pengaruh KEPUSAN DAN KEPERCAYAAN terhadap komitmen relasional dan loyalitas NASABAH BANK MANDIRI SURABAYA. Economics and Sustainable Development, 2(2), 1-1.

De Anca, C. (2019). Fintech in Islamic finance. Fintech in Islamic Finance: Theory and Practice.

Firmansyah, E. A., & Anwar, M. (2019, January). Islamic financial technology (FINTECH): its challenges and prospect. In Achieving and Sustaining SDGs 2018 Conference: Harnessing the Power of Frontier Technology to Achieve the Sustainable Development Goals (ASSDG 2018) (pp. 52-58). Atlantis Press.

Gamal, A., & Bambang Purwoko, M. B. A. (2017). 3. PENGARUH MANAJERIAL DAN PENDANAAN TERHADAP PROFITABILITAS PADA PERUSAHAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2012-2015. Economics and Sustainable Development, 2(2), 25-25.

Hasan, R., Hassan, M. K., & Aliyu, S. (2020). Fintech and Islamic finance: Literature review and research agenda. International Journal of Islamic Economics and Finance (IJIEF), 3(1), 75-94.

Hasan, R., Hassan, M.K., & Aliyu, S. (2020). Fintech and Islamic Finance: Literature Review and Research Agenda. International Journal of Islamic Economics and Finance (IJIEF).

Hidayat, M., Defitri, S. Y., & Hilman, H. (2024). The Impact of Artificial Intelligence (AI) on Financial Management. Management Studies and Business Journal (PRODUCTIVITY), 1(1), 123-129.

Hotman, H., Hilman, H., & Ahmad, N. (2024). Islamic Microfinance: Addressing Poverty Alleviation and Entrepreneurship Development. Economics Studies and Banking Journal (DEMAND), 1(2), 61-70.

Hotman, H. (2024). Islamic Economics and Sustainable Development Goals (SDGs): Bridging the Gap through Ethical Financial Practices. Economics Studies and Banking Journal (DEMAND), 1(2), 53-60.

Hui, H. W., Manaf, A. W. A., & Shakri, A. K. (2019). Fintech and the transformation of the Islamic finance regulatory framework in Malaysia. In Emerging issues in Islamic finance law and practice in Malaysia (pp. 211-222). Emerald Publishing Limited.

Jamil, N. N., & Seman, J. A. (2019). The impact of fintech on the sustainability of Islamic accounting and finance education in Malaysia. Journal of Islamic, Social, Economics and Development.

Laldin, M. A., & Furqani, H. (2019). Fintech and Islamic finance. Fintech in Islamic Finance: Theory and Practice.

Lubis, A. F. (2020). Authority for Judicial Determinations in Connection Cases. Pena Justisia: Media Komunikasi dan Kajian Hukum, 19(2).

Lubis, A. F. (2021). The Civil and Military Role Models in Overcoming the Threat of Terrorism. Pena Justisia: Media Komunikasi dan Kajian Hukum, 20(1).

Lubis, A. F. (2022). Efforts to Overcome Juridical Constraints in Countering Terrorism in Indonesia by The Indonesian National Armed Forces. Journal of Social Science, 3(3), 460-468.

Moridu, I. (2024). The Effect of Financial Leverage on Profitability in the Food and Beverage Industry (2017-2021). Accounting Studies and Tax Journal (COUNT), 1(1), 117-130.

Mukhid, M. (2024). Islamic Social Finance: Exploring Zakat, Waqf, and Sadaqah in Economic Development. Economics Studies and Banking Journal (DEMAND), 1(2), 46-52.

Muneeza, A., & Mustapha, Z. (2021). Islamic fintech and financial inclusion. Islamic FinTech: Insights and Solutions, 173-190.

Omoola, S. (2019). Fintech in Islamic Finance-Theory and Practice.

Purwoko, B. (2015). Influence of service quality and customer satisfaction and loyalty trust foreign tourists visit the attractions in East Java Indonesia. European Journal of Business and Management. ISSN, 2222-1905.

Rabbani, M. R., Khan, S., & Thalassinos, E. I. (2020). FinTech, blockchain and Islamic finance: An extensive literature review.

Rabbani, M. R. (2022). Fintech innovations, scope, challenges, and implications in Islamic Finance: A systematic analysis. International Journal of Computing and Digital Systems, 11(1), 1-28.

Rahim, N. F., Bakri, M. H., & Yahaya, S. N. (2019). Fintech and Shariah principles in smart contracts. In FinTech as a disruptive technology for financial institutions (pp. 207-220). IGI Global.

Rokhimah, Z. P., Eviyanti, N., & Senoaji, A. R. (2024). Analysis of the Influence of Financial Performance on the Value of Sharia Banking Companies in Indonesia. Economics Studies and Banking Journal (DEMAND), 1(1), 9-16.

Saba, I., Kouser, R., & Chaudhry, I. S. (2019). FinTech and Islamic finance-challenges and opportunities. Review of Economics and Development Studies, 5(4), 581-890.

Suasridewi, D. G., Prihartanti, W., Purwoko, B., & Rahmanto, A. (2023). Peran Efektivitas Penerimaan PAD Via Online Dalam Meningkatkan Pendapatan Asli Daerah Kota Surabaya. Madani: Jurnal Ilmiah Multidisiplin, 1(10).

Suprapti, I. A. P., Harsono, I., Sutanto, H., Chaidir, T., & Arini, G. A. (2024). Financial Inclusion Strategies (Exploring The Landscape Through Systematic Literatur Review). Accounting Studies and Tax Journal (COUNT), 1(1), 101-110.

Unal, I.M., & Aysan, A.F. (2021). Fintech And Blockchain in Islamic Finance: A Bibliometric Analysis. InfoSciRN: Bibliometrics (Sub-Topic).

Unal, I.M., & Aysan, A.F. (2022). Fintech, Digitalization, and Blockchain in Islamic Finance: Retrospective Investigation. FinTech.

Yasini, S., & Yasini, M. (2019). Current trends and future impacts of fintech in Islamic finance. Fintech in Islamic Finance: Theory and Practice, 112.