Fintech innovations, scope, challenges, and implications in Islamic Finance: A systematic analysis

Al-Hamdany, Arwa; Mahmood, Ahlam Fadhil

doi:10.12785/ijcds/130147

Cited by 9 publications

(7 citation statements)

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“…The SLR technique was used in this study to review events in the field, research novelties and recommendations for future studies (Rabbani, 2022). SLR is a method that reviews and evaluates articles on research problems and is very useful for examining the replication of findings and potential contradictions to identify future research opportunities (Paul and Barari, 2022).…”

Section: Methodsmentioning

confidence: 99%

“…In practice, consumers of Islamic banks must comprehend the concepts of Islamic ethics and morals and how to apply them in financial transactions and relationships (Hanic and Smolo, 2022). Customers will be able to preserve Sharia compliance in their financial lives by adhering to Islamic morality and ethics (Rabbani, 2022).…”

Section: Literature Review 21 Theoretical Backgroundmentioning

confidence: 99%

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A systematic review of customer Sharia compliance behaviour in Islamic banks: determinants and behavioural intention

Andespa,

Yeni,

Fernando

et al. 2023

JIMA

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Purpose This study aims to investigate what past scholars have learned about Muslim consumer compliance behaviour in Islamic banks and identify what future research is needed. In addition, it also explores the relationship model between the previously studied determining factors and the customer’s Sharia compliance behaviour. Design/methodology/approach This study used a bibliometric–systematic literature review analysis using the Preferred Reporting Items for Systematic reviews and Meta-Analyses (PRISMA) technique by reviewing the articles published from 2013 to 2023. The PRISMA procedures involved several stages, including identification, screening, eligibility, analysis and conclusion based on the findings. Findings The results found that customer Sharia compliance behaviour determinants in Islamic banks are attitude, subjective norms, perceived behavioural control, Islamic financial literacy, religiosity, consumer conformity, Islamic branding and behavioural intention. Interestingly, the results indicated that such factors as consumer conformity, Islamic branding and sustainable intentions are less discussed. Practical implications Decision-makers in Islamic banks must use digital technology to offer better service and make operations more reachable for customers to access information, complete transactions and manage their accounts by Sharia principles. Therefore, the bank needs to continually produce innovative products and services so that customers have a greater variety of options to suit their Sharia-compliant financial needs. Theoretically, this study has contributed by finding the main critical domains influencing customers’ Sharia compliance behaviour, such as attitudes, subjective norms, perceptions of behavioural control, knowledge of Islamic finance, religiosity, consumer conformity, Islamic branding and behavioural intentions. Then, it makes a theoretical contribution by establishing a model that explains how customers make decisions based on Sharia-related factors in the context of their purchases. Originality/value Past studies focused on the Sharia compliance behaviour in paying Zakat for takaful customers. Therefore, this study provides critical factors of Sharia compliance behaviour on conformity, Islamic branding and sustainable intention regarding unexplored consensus on the determinants and outcomes of customer Sharia compliance behaviour of Islamic banking.

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Section: Methodsmentioning

confidence: 99%

Section: Literature Review 21 Theoretical Backgroundmentioning

confidence: 99%

A systematic review of customer Sharia compliance behaviour in Islamic banks: determinants and behavioural intention

Andespa,

Yeni,

Fernando

et al. 2023

JIMA

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“…The level of public awareness and understanding of the sharia principles underlying Islamic finance plays an important role in determining their financial choices. Principles such as the prohibition of usury (interest), speculation, and investment in industries that conflict with sharia are the basis of Islamic finance (Rabbani, 2022).…”

Section: Awareness Of Sharia Principlesmentioning

confidence: 99%

A Comprehensive Review of Literature on the Dynamics of Islamic Finance: Global Growth and Challenges

Posumah

2024

PRODUCTIVITY

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Islamic financial markets have become an important subject in global economic discussions, with significant growth in recent decades. Factors such as awareness of sharia principles, product innovation, quality financial regulations, Islamic financial literacy, and cooperation between countries have played an important role in strengthening the Islamic financial market. This research investigates the relationship between these factors and the growth of the Islamic financial market as a whole.

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“…Keuangan Islam berasal dari akar ekonomi Islam, yang berbeda dari sistem ekonomi lainnya. Keuangan Islam adalah bentuk keuangan yang menggunakan prinsip-prinsip etika dan moralitas syariah sebagai inti dalam transaksi keuangannya (Rabbani, 2022). Keuangan Islam memiliki keunikan dan sistem keseimbangan yang memenuhi keinginan Maqasid-Al-Syariah (Elasrag, 2019).…”

Section: Pendahuluanunclassified

“…Islamic fintech sangat penting untuk pengiriman digital layanan keuangan Islam kepada pelanggan untuk memenuhi tujuan keuangan Islam dari inklusi keuangan, keadilan sosial, dan pemerataan kekayaan dalam masyarakat (Baber, 2020). Layanan keuangan sosial Islam seperti Zakat, Qardh-Al-Hasan, dan keuangan mikro Islam dapat disampaikan menggunakan kecerdasan buatan dan teknologi blockchain untuk mencapai tujuan ini (Khan et al, 2022;Rabbani, 2022). Hasan et al, (2020) menyampaikan bahwa secara umum, dampak inti dari teknologi fintech bagi industri syariah terbagi menjadi tiga kategori.…”

Section: Aspek Aksiologi Islamic Fintechunclassified

Islamic Financial Technology dalam Kajian Filsafat Ilmu

Hirawati

Harsono

2023

ekuitas

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Islamic financial technology (fintech) has experienced rapid development but is still not comparable to conventional fintech developments. This study aims to examine the construct of Islamic fintech in the view of the philosophy of science from the aspects of ontology, epistemology, and axiology. Islamic fintech is an interesting research area and continues to grow in the field of management, especially financial management. The method used is a literature review, which discusses the meaning, history, theory, and benefits of Islamic fintech to get a more detailed picture of Islamic fintech from previous researchers. This research also identifies the antecedents and consequences of Islamic fintech. The antecedents of Islamic fintech consist of resources, risks, profits, and competition which are factors of the company, as well as literacy, attitude, and acceptance, which are factors of consumers, and regulations from policymakers. The consequence of Islamic fintech is a sustainable finance system.

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Fintech innovations, scope, challenges, and implications in Islamic Finance: A systematic analysis

Cited by 9 publications

References 0 publications

A systematic review of customer Sharia compliance behaviour in Islamic banks: determinants and behavioural intention

A systematic review of customer Sharia compliance behaviour in Islamic banks: determinants and behavioural intention

A Comprehensive Review of Literature on the Dynamics of Islamic Finance: Global Growth and Challenges

Islamic Financial Technology dalam Kajian Filsafat Ilmu

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