Description
Fintech, Digital Currency and the Future of Islamic Finance, 1st ed. 2021
Strategic, Regulatory and Adoption Issues in the Gulf Cooperation Council
Coordinators: Alam Nafis, Nazim Ali Syed
Language: EnglishSubjects for Fintech, Digital Currency and the Future of Islamic Finance:
Publication date: 11-2021
246 p. · 14.8x21 cm · Paperback
Publication date: 11-2020
246 p. · 14.8x21 cm · Hardback
Description
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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 the current 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.
Nafis Alam is Professor of Finance and Head of the School of Accounting and Finance at the Asia Pacific University of Technology and Innovation (APU), Malaysia. His research focuses on FinTech, banking regulation, corporate finance, and Islamic banking and finance. He is a research affiliate of the Cambridge Centre for Alternative Finance (CCAF) at Judge Business School, University of Cambridge, UK, and contributes regularly to a global industry report on FinTech and financial regulation. Nafis previously studied Banking and Finance at Monash University, Australia.
Syed Nazim Ali is Professor and Director of the Center for Islamic Economics and Finance in the College of Islamic Studies (CIS) at Hamad Bin Khalifa University, which is part of the Qatar Foundation. He has spent the last 30 years spearheading interdisciplinary research in Islamic and faith-based initiatives in finance as well as community development. Syed has been the Founding Director of the Islamic Finance Project (IFP) at Harvard Law School, Harvard University, USA, since 1995.
Uncovers the impact of disruptive technology on the growth of Islamic financial institutions within the GCC region
Showcases Shariah and other risk areas associated with FinTech, and evaluates how current regulation is responding
Discusses the emergence of Islamic FinTech players in the GCC region, explaining how Islamic banks are working with FinTech startups, locally, regionally and internationally