Islamic Finance and Blockchain: A Bibliometric Analysis

Abstract

The Covid-19 pandemic is causing the digital economy to expand quickly. The development of Islamic finance employing Islamic financial technology should see this technology and the burgeoning digital economy as a problem and an opportunity. One of the most sophisticated acceleration development products is blockchain, and become Islamic finance’s most challenging product. There are still pros and cons to using blockchain in Islamic financial products. In terms of transparency and high trust level, the value of blockchain is similar to those of Islamic financial value. It’s critical to have this opportunity to speed up Islamic finance development. The main problem is that there are still very limited studies about Islamic finance and blockchain. With this study, we will conduct a bibliometric analysis of the publications we published from 2012-2022 about Islamic finance and blockchain through Scopus and google scholar. This study uses the Vos viewer program to see the number of publications, co-authorship authors, co-authorship institutions, co-authorship countries, and keywords. In Scopus, only 24 papers have discussed Islamic finance and blockchain in the last ten years. However, there are more papers on google scholar, but they are still not as specified as in Scopus. There are still many opportunities to have more research in this field.

Is Islamic financial management getting enough attention? A bibliometric analysis

“…Although not directly related to Islamic financial management, the study by Matthews and Tlemsani (2010), which offers insights into the causes of the financial crisis, offers a different perspective to managers and representatives of the financial sector in terms of Islamic financial management. Examples of other studies on "Islamic financial management" that are not included in WOS resources are Pock (2007), Islam and Sultana (2019), Awang et al (2020) and Sirat and Jannang (2022). Although they do not fully cover the subject of "Islamic financial management", some studies that partially address the subjects in their content are as follows: Obaidullah and Latiff (2008), Millar and Anwar (2009), Hunt-Ahmed (2013), Hassan and Rashid (2018) and Hassan et al (2019).…”

“…Another study group consists of the ones conducted through document analysis and bibliometric analysis methods, on concepts related to “Islamic finance” and “Islamic banking”, such as fintech, blockchain technologies, social finance, Sukuk and takaful. The following can be given as examples of these studies: Nasir et al (2020), Aysan and Unal (2021), Lanzara (2021), Altarturi et al (2021), Qadri et al (2022), Putri et al (2022), Nasir et al (2022) and Hassan et al (2022).…”