Fintech in Islamic Finance: Theory and Practice, 1st Edition (Paperback) book cover

Fintech in Islamic Finance

Theory and Practice, 1st Edition

Edited by Umar A. Oseni, S. Nazim Ali

Routledge

352 pages | 16 B/W Illus.

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Paperback: 9781138494800
pub: 2019-06-26
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pub: 2019-06-26
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Description

Featuring high-level analysis of Islamic law, this book examines fintech in Islamic finance from both theoretical and empirical perspectives. Whilst building on existing approaches, it also discusses the current application of fintech in promoting financial inclusion within Sharīʿah law, identifing future directions for policy-makers.

With original chapters written by prominent academics, senior lawyers and practitioners in the global Islamic finance industry, this book serves as the first standalone pioneering reference work on fintech in Islamic finance. It also, for the first time, examines the position of Islamic law on cryptocurrencies, such as bitcoin. Besides the conceptual analysis of the Sharīʿah and legal aspects of Islamic finance, this book provides relevant case studies showing current and potential developments in the application of fintech in various sectors ranging from crowdfunding and smart contracts, to Online Dispute Resolution, Investment Account Platform and identity verification in the KYC process.

Setting the agenda for researchers in the field, Fintech in Islamic Finance will be useful to students and scholars of Islamic finance and finance technology.

Table of Contents

Part 1: Introduction

1. Fintech in Islamic Finance: An Introduction, Umar A. Oseni and S. Nazim Ali

Part 2: Fintech and Financial Intermediation

2. Fintech: The Opportunity for Islamic Finance, Harris Irfan and Daniel Ahmed

3. Implications of Technological Advance for Financial Intermediation in Islamic Finance, Rodney Wilson

4. Fintech in Islamic Finance: From Collaborative Finance to Community-based Finance, Celia de Anca

5. Financial Intermediation, Fintech and Sharī‘ah Compliance, Shariq Nisar and Umar Farooq

6. E-Commerce and Islamic Financial Intermediation, Hafis Bello

Part 3: Setting the Shariʿah Parameters

7. Fintech in the Light of Maqāsid al-Sharī‘ah, Mustafa Omar Mohammed and Mohamed Cherif El Amri

8. Fintech and Islamic Finance: Setting the Shariʿah Parameters, Mohamad Akram Laldin and Hafas Furqani

9. Currency in Islamic Law: A Sharī‘ah Analysis of Bitcoin, Mufti Faraz Adam and Mufti Abdul Kadir Barkatulla

10. Crowfunding in Islamic Finance: Ensuring Proper Shariʿah Oversight, Muhammad Al Bashir M. Al-Amine

Part 4: Legal and Regulatory Issues

11. The Regulation of Fintech and Cryptocurrencies, Nafis Alam and Abdolhossein Zameni

12. Fintech in Islamic Finance: Business Models and the Need for Legal Solutions, Michael Gassner and Jonathan Lawrence

13. Blockchain Technologies and the Prospects of Smart Contracts in Islamic Finance, Volker Nienhaus

14. The Potentials of Smart Contract in Islamic Trade Finance, Leisan Safina and Umar A. Oseni

Part 5: Case Studies: From Concept to Application

15. The Emergence of Islamic Crowdfunding Platforms: A Case Study of Ethis Ventures, Ahmad Sabree and Umar Munshi

16. The Investment Account Platform: A Practical Application of Fintech in Malaysia, Noor Suhaida Kasri and Marjan Muhammad

17. Integrating Waqf Crowdfunding into the Blockchain: A Modern Approach for Creating a Waqf Market, Magda Ismail Abdel Mohsin and Aishath Muneeza

18. Blockdentity: A Future Beyond Digital identity, Ishaq Mustapha Akinlaso, Ibrahim Opeyemi Adediran, Abdoulaye Kindy Diallo and Ziyaad Mahomed

19. Banking on ICT: The relevance of online dispute resolution in the Islamic banking industry in Malaysia, Umar A. Oseni and Sodiq O. Omoola

Part 6: Future Directions

20. Current and Future Impacts of Fintech in Islamic Finance, Sirajulhaq Yasini and Marifatulhaq Yasini

About the Editors

Umar A. Oseni is an Executive Director of the International Islamic Liquidity Management Corporation. He was an Associate Professor of Law and Regulation of Islamic Finance at the International Islamic University Malaysia.

S. Nazim Ali is Director of the Research Division of the College of Islamic Studies, at Hamad Bin Khalifa University. He was the Director of the Islamic Finance Project at Harvard University from 1995 to 2014.

Subject Categories

BISAC Subject Codes/Headings:
POL059000
POLITICAL SCIENCE / World / Middle Eastern
SOC053000
SOCIAL SCIENCE / Regional Studies