Fintech, Digital Currency and the Future of Islamic Finance

Strategic, Regulatory and Adoption Issues in the Gulf Cooperation Council

Nafis Alam, Syed Nazim Ali, Nafis Alam, Syed Nazim Ali

• Publisher: Palgrave Macmillan
• Year: 2020
• ISBN:
  9783030492489
• Topic: Business
• Subtopic: Servizi finanziari
• Index: Business

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 thecurrent 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.

Table of contents

• Cover
• Front Matter
• 1. Introduction: FinTech and Islamic Finance in the Gulf Cooperation Council (GCC)
• 2. A Critical Analysis of Bitcoin from an Islamic Legal Perspective
• 3. Combining Islamic Equity Portfolios and Digital Currencies: Evidence from Portfolio Diversification
• 4. The Potential of Smart Contracts for Murabahah Home Financing: Towards an Integrated Model
• 5. The Application of Fintech in Microtakaful as a Means of Digital Financial Inclusion: Insights from the GCC
• 6. Gharar-Free ReBittance: Powered by Blockchain
• 7. Regulatory Issues in Cryptocurrency Usage
• 8. Beyond the Jurisprudential Quagmire: Perspectives on the Application of Digital Currencies and Blockchain Technology in Islamic Economics and Finance
• 9. Does FinTech Revolution Lead to the Disintermediation of Banks? A Study into Islamic Bank Income
• 10. Utilizing Blockchain Technology for Post-Trade Securities Settlement: A Framework for Islamic Capital Markets in the GCC Region
• 11. Any Luck with Bitcoin in Saudi Arabia?
• 12. Strategic Assessment of Islamic Fintech in GCC Countries
• Back Matter