Dynamism and mechanism of digital currency (cryptocurrency) towards Islamic finance
Technology advanced has brought rapid changes in all human activities along with financial activities and tools. Digital currency one of the technological innovations which have taken significant focuses from consumers, investors, researchers, entrepreneurs and policy makers around the world. with t...
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| Format: | Article |
| Language: | English |
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Università Degli Studi di Torino
2019
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| Online Access: | http://irep.iium.edu.my/78341/ http://irep.iium.edu.my/78341/1/Br%20Martin%20-%203736-12839-1-PB.pdf |
| _version_ | 1848788592715890688 |
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| author | Chowdhury, Mohammad Abdul Matin Abdul Razak, Dzuljastri |
| author_facet | Chowdhury, Mohammad Abdul Matin Abdul Razak, Dzuljastri |
| author_sort | Chowdhury, Mohammad Abdul Matin |
| building | IIUM Repository |
| collection | Online Access |
| description | Technology advanced has brought rapid changes in all human activities along with financial activities and tools. Digital currency one of the technological innovations which have taken significant focuses from consumers, investors, researchers, entrepreneurs and policy makers around the world. with the trend of changing patterns, Islamic finance is rapidly developing all over the world by serving Muslims and non-Muslims, as a result, it is mandatory for Islamic finance to adapt with modern technology systems in terms of providing innovative products and services to the consumers in line with shariah perspectives. As a result, cryptocurrency (digital currency) has taken the focus on Islamic scholars in regards of its permissibility. There are many arguments over the permissibility issues. Therefore, this study aims to explore those issues and mechanisms of cryptocurrency in order to evaluate with Islamic perspective. This study gathered secondary sources from past literatures, books, news and websites with qualitative approach. The findings inclined that there are still lacking in mechanisms of digital currency to comply with Islamic perspective such as real asset backed and legal authorization. The findings of this study will benefit the Islamic scholars and policy makers along with Muslim consumers and investors in regards of permissibility and developing existing cryptocurrency to widely use in the Islamic finance and banking sector.
I |
| first_indexed | 2025-11-14T17:43:17Z |
| format | Article |
| id | iium-78341 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T17:43:17Z |
| publishDate | 2019 |
| publisher | Università Degli Studi di Torino |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-783412020-02-13T00:32:35Z http://irep.iium.edu.my/78341/ Dynamism and mechanism of digital currency (cryptocurrency) towards Islamic finance Chowdhury, Mohammad Abdul Matin Abdul Razak, Dzuljastri HG Finance HG3368 Islamic Banking and Finance Technology advanced has brought rapid changes in all human activities along with financial activities and tools. Digital currency one of the technological innovations which have taken significant focuses from consumers, investors, researchers, entrepreneurs and policy makers around the world. with the trend of changing patterns, Islamic finance is rapidly developing all over the world by serving Muslims and non-Muslims, as a result, it is mandatory for Islamic finance to adapt with modern technology systems in terms of providing innovative products and services to the consumers in line with shariah perspectives. As a result, cryptocurrency (digital currency) has taken the focus on Islamic scholars in regards of its permissibility. There are many arguments over the permissibility issues. Therefore, this study aims to explore those issues and mechanisms of cryptocurrency in order to evaluate with Islamic perspective. This study gathered secondary sources from past literatures, books, news and websites with qualitative approach. The findings inclined that there are still lacking in mechanisms of digital currency to comply with Islamic perspective such as real asset backed and legal authorization. The findings of this study will benefit the Islamic scholars and policy makers along with Muslim consumers and investors in regards of permissibility and developing existing cryptocurrency to widely use in the Islamic finance and banking sector. I Università Degli Studi di Torino 2019-12 Article PeerReviewed application/pdf en http://irep.iium.edu.my/78341/1/Br%20Martin%20-%203736-12839-1-PB.pdf Chowdhury, Mohammad Abdul Matin and Abdul Razak, Dzuljastri (2019) Dynamism and mechanism of digital currency (cryptocurrency) towards Islamic finance. European Journal of Islamic Finance, 14. pp. 1-8. ISSN 2421-2172 http://ojsunito.cineca.it/index.php/EJIF/article/view/3736/pdf |
| spellingShingle | HG Finance HG3368 Islamic Banking and Finance Chowdhury, Mohammad Abdul Matin Abdul Razak, Dzuljastri Dynamism and mechanism of digital currency (cryptocurrency) towards Islamic finance |
| title | Dynamism and mechanism of digital currency (cryptocurrency) towards Islamic finance |
| title_full | Dynamism and mechanism of digital currency (cryptocurrency) towards Islamic finance |
| title_fullStr | Dynamism and mechanism of digital currency (cryptocurrency) towards Islamic finance |
| title_full_unstemmed | Dynamism and mechanism of digital currency (cryptocurrency) towards Islamic finance |
| title_short | Dynamism and mechanism of digital currency (cryptocurrency) towards Islamic finance |
| title_sort | dynamism and mechanism of digital currency (cryptocurrency) towards islamic finance |
| topic | HG Finance HG3368 Islamic Banking and Finance |
| url | http://irep.iium.edu.my/78341/ http://irep.iium.edu.my/78341/ http://irep.iium.edu.my/78341/1/Br%20Martin%20-%203736-12839-1-PB.pdf |