Financial technology inclusion in Islamic banks: implication on Shariah compliance assurance
The global technology development has made rapid changes and revolution on the financial services landscape that enforce most banking system including Islamic banks to be more innovative and digitalized. In relation to the technology growth, Islamic banks are now collaborating with Financial Technol...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Human Resource Management Academic Research Society
2020
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| Online Access: | http://psasir.upm.edu.my/id/eprint/89020/ http://psasir.upm.edu.my/id/eprint/89020/1/SHARIAH.pdf |
| _version_ | 1848860752735109120 |
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| author | Mohd Haridan, Nurfarahin Sheikh Hassan, Ahmad Fahmi Alahmadi, Hatem Abdulaziz |
| author_facet | Mohd Haridan, Nurfarahin Sheikh Hassan, Ahmad Fahmi Alahmadi, Hatem Abdulaziz |
| author_sort | Mohd Haridan, Nurfarahin |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | The global technology development has made rapid changes and revolution on the financial services landscape that enforce most banking system including Islamic banks to be more innovative and digitalized. In relation to the technology growth, Islamic banks are now collaborating with Financial Technology (FinTech) companies to grow their market shares. Through critical review of the literatures, we highlight that the inclusion of FinTech may provide important avenues for the Islamic banking industry to offer more innovative financial technology products while being conscious on the morality and Shariah compliant aspects. Besides the beneficial impact and value creation on the application of technology system and information, we also critically highlight several issues on financial risk associated from the technology development and Shariah compliance. We also highlight that it is crucial role for Shariah boards to have the necessary knowledge and skills and to be active with the management of Islamic banks in developing new financial technology products. |
| first_indexed | 2025-11-15T12:50:14Z |
| format | Article |
| id | upm-89020 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T12:50:14Z |
| publishDate | 2020 |
| publisher | Human Resource Management Academic Research Society |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-890202021-09-21T23:47:06Z http://psasir.upm.edu.my/id/eprint/89020/ Financial technology inclusion in Islamic banks: implication on Shariah compliance assurance Mohd Haridan, Nurfarahin Sheikh Hassan, Ahmad Fahmi Alahmadi, Hatem Abdulaziz The global technology development has made rapid changes and revolution on the financial services landscape that enforce most banking system including Islamic banks to be more innovative and digitalized. In relation to the technology growth, Islamic banks are now collaborating with Financial Technology (FinTech) companies to grow their market shares. Through critical review of the literatures, we highlight that the inclusion of FinTech may provide important avenues for the Islamic banking industry to offer more innovative financial technology products while being conscious on the morality and Shariah compliant aspects. Besides the beneficial impact and value creation on the application of technology system and information, we also critically highlight several issues on financial risk associated from the technology development and Shariah compliance. We also highlight that it is crucial role for Shariah boards to have the necessary knowledge and skills and to be active with the management of Islamic banks in developing new financial technology products. Human Resource Management Academic Research Society 2020 Article PeerReviewed text en http://psasir.upm.edu.my/id/eprint/89020/1/SHARIAH.pdf Mohd Haridan, Nurfarahin and Sheikh Hassan, Ahmad Fahmi and Alahmadi, Hatem Abdulaziz (2020) Financial technology inclusion in Islamic banks: implication on Shariah compliance assurance. International Journal of Academic Research in Business and Social Sciences, 10 (14). 38 - 48. ISSN 2222-6990 https://hrmars.com/papers/detail/IJARBSS/7361/Financial-Technology-Inclusion-in-Islamic-Banks-Implication-on-Shariah-Compliance-Assurance 10.6007/IJARBSS/v10-i14/7361 |
| spellingShingle | Mohd Haridan, Nurfarahin Sheikh Hassan, Ahmad Fahmi Alahmadi, Hatem Abdulaziz Financial technology inclusion in Islamic banks: implication on Shariah compliance assurance |
| title | Financial technology inclusion in Islamic banks: implication on Shariah compliance assurance |
| title_full | Financial technology inclusion in Islamic banks: implication on Shariah compliance assurance |
| title_fullStr | Financial technology inclusion in Islamic banks: implication on Shariah compliance assurance |
| title_full_unstemmed | Financial technology inclusion in Islamic banks: implication on Shariah compliance assurance |
| title_short | Financial technology inclusion in Islamic banks: implication on Shariah compliance assurance |
| title_sort | financial technology inclusion in islamic banks: implication on shariah compliance assurance |
| url | http://psasir.upm.edu.my/id/eprint/89020/ http://psasir.upm.edu.my/id/eprint/89020/ http://psasir.upm.edu.my/id/eprint/89020/ http://psasir.upm.edu.my/id/eprint/89020/1/SHARIAH.pdf |