Financial Innovation on Zakat Distribution and Economic Growth

Azizah, Ummu Salma Al; Choirin, Muhammad

doi:10.37706/iconz.2018.115

Cited by 5 publications

(5 citation statements)

References 2 publications

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“…Obviously the different form of Islamic Fintech from its conventional counterpart when taken into account inclusive, transparent, ethical, beneficial to both the parties, and complies with the principles of sharia. Islamic Fintech is a relatively new concept and only a few studies have been considering this issues (Khan and Rabbani, 2020; Yussof and Al-Harthy, 2018; Al Azizah and Choirin, 2018; Baber, 2020; Alsyouf et al ., 2021; Alshirah et al ., 2021).…”

Section: Introductionmentioning

confidence: 99%

Adoption of Islamic Fintech in lending services through prediction of behavioural intention

Alsmadi

Aalrawashdeh

Al-Gasaymeh

et al. 2023

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PurposeThis study aims to provide a better comprehension of the behavioural intentions that influence the adoption of Islamic financial technology (Fintech) in Malaysia for two kinds of Islamic lending Fintech services, which are crowdfunding and peer-to-peer (P2P) lending.Design/methodology/approachFrom May to July 2022 the primary data were collected by using a questionnaire distributed online to survey 437 Islamic Fintech clients in Malaysia. Structural equation modelling has been used to analyse the data based on using the partial least squares approach.FindingsThe findings of this paper shows that planned behaviour, acceptance model and technology's use models are positively impacting factors that influence customers' opinions on adapting Islamic Fintech services in lending. The acceptance model was found to exert a negative impact on the intention to adopt Islamic lending P2P Fintech service. In addition, technology's use has a negative impact on the intention to adopt Islamic lending crowdfunding Fintech service.Research limitations/implicationsFirst, the study is limited to Islamic Fintech customers in Malaysia only, second, the study adopted an online survey but there is no guarantee that the geography area was fully covered. Another limitation is that the study covers only Islamic Fintech services in lending, thus the study did not attend to variables such as religiosity and the authors believe that this will provide useful insights for future research.Originality/valueDespite the importance of this topic, there has been a lack of empirical evidence until now. In this paper, the authors take stock of the empirical evidence in the literature through the importance of the adoption Fintech. This study provides a broad view of the market potentials for Fintech providers from the demand side on a wide range of Islamic Fintech services rather than focussing only on payment, transfer, etc. as presented in previous studies.

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Section: Introductionmentioning

confidence: 99%

Adoption of Islamic Fintech in lending services through prediction of behavioural intention

Alsmadi

Aalrawashdeh

Al-Gasaymeh

et al. 2023

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“…Islamic Fintech is different from its conventional ore inclusive, transparent, ethical, beneficial to both the parties, and ciples of sharia. Islamic Fintech is a relatively new concept and only en conducted in this regard including [26][27][28][29][30][31][32][33]. Both Fintech and Issentially same in meaning, but the difference lies in the sharia comch must comply with the principles of sharia as every Fintech based e and acceptable and it becomes unacceptable and impermissible if e that it violates the principles laid down by sharia [34].…”

Section: Introduction and Research Questionmentioning

confidence: 99%

Exploring the Role of Islamic Fintech in Combating the Aftershocks of COVID-19: The Open Social Innovation of the Islamic Financial System

Rabbani

Bashar

Nawaz

et al. 2021

Journal of Open Innovation: Technology, Market, and Complexity

115

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The purpose of the current study is to investigate the role of the Islamic financial system in recovery post-COVID-19 and the way Fintech can be utilized to combat the economic reverberations created by COVID-19. The global financial crisis of 2008 has established the credentials of the Islamic financial system as a sustainable financial system which can save the long run interests of the average citizens around the world while adding value to the real economy. The basic ethical tenets available in the Islamic financial system make it more suited and readymade to fight the economic aftershocks of a pandemic like COVID-19. The basic principles of ethical Islamic finance have solid connections to financial stability and corporate social responsibility within the wide-reaching business context. With the emergence of Financial technology (Fintech) it has provided a missing impetus to the Islamic financial system to compete on equal ground with its conventional counterpart and prove its mettle. The study uses discourse analysis along with the content analysis to extract content and draw a conclusion. The findings of the study indicate that COVID-19 pandemic has provided the opportunity for the social and open innovation to grow and finance world have turned to open innovation to provide a speedy, timely, reliable, and sustainable solution to the world. The findings of the study provide significant implications for governments and policy makers in efficient application of Fintech and innovative Islamic financial services to fight the economic consequences of the COVID-19 pandemic.

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“…In the following year (Muchlis, 2018;Rusydiana, 2018) explained the weaknesses of Islamic Fintech and the main problems faced in the development of Islamic Fintech. Islamic research began to increase in 2017, topics that were often discussed in that year included; the challenge and prospect of Islamic Fintech, innovation in the application of fintech such as in zakat collection, cash waqf, crowdfunding and financing (Al Azizah & Choirin, 2019;Firmansyah & Anwar, 2019;Hadi Ryandono, 2019;Piliyanti, 2018). In addition to the development of research on fintech innovation in that year, several books and section books were also published including books by Fintech in Islamic Finance, Theory and Practice (Oseni & Ali, 2019), Fintech in the light of maqāsid al-Sharī'ah (Mohammed & Amri, 2019) Fintech in Islamic finance (Laldin & Furqani, 2019), and Current Trends and Future Impacts of Fintech In Islamic Finance by (Yasini & Yasini, 2019).…”

Section: Resultsmentioning

confidence: 99%

Islamic Fintech Research Worldwide: A Bibliometric Analysis

Siti Fatimah Azzahro,

Indra

2024

IFT

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Islamic Fintech continues to grow as innovation in the field of technology accelerates human life. Although relatively new, research on Islamic Fintech continues to grow and has been quite attractive to researchers in recent years. Seeing this phenomenon, it is necessary to anticipate the increasing interest of academics in researching Islamic Fintech. This paper aims to facilitate researchers in finding out the development of Islamic Fintech research, find topics that can be developed, and know the main contributors and sources that shape research in the field of Islamic Fintech. This research analysis is a Bibliometric analysis with Biblioshiny and VOSviewer software, using metadata consisting of 98 Scopus-indexed data published in 10 years, namely 2013-2022. The results of the study found that the potential for developing research on the theme of Islamic Finance is huge, topics that can be developed for further research include "Crowdfunding" and "Crowdsourcing.” Meanwhile, Muslim-majority countries dominate Islamic Finance research, including with their authors and affiliations.

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Financial Innovation on Zakat Distribution and Economic Growth

Cited by 5 publications

References 2 publications

Adoption of Islamic Fintech in lending services through prediction of behavioural intention

Adoption of Islamic Fintech in lending services through prediction of behavioural intention

Exploring the Role of Islamic Fintech in Combating the Aftershocks of COVID-19: The Open Social Innovation of the Islamic Financial System

Islamic Fintech Research Worldwide: A Bibliometric Analysis

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