Islamic Finance in the Modern Era

<p>This book focuses on recent developments in financial technology: specifically how FinTech affects the Islamic finance industry. It examines the challenges of Shariah compliance and explores opportunities for <i>riba</i>-free finance.</p><p>The book describes contemporary FinTech solutions investigating their relation to Islamic financial institutions. It outlines the current status of Islamic FinTech arguing that it can provide Shariah-compliant innovative financial services to bridge the gap and compete with or complement conventional finance. Islamic FinTech can play a transformational role in making Islamic finance more accessible to a wide range of audiences and can also support the SME sector which has been significantly impacted by the fallout of the COVID-19 pandemic. </p><p>First the book addresses thematic issues in Islamic finance including its role in poverty eradication elevating SMEs and the Islamic digital economy. Second it examines Shariah-compliant instruments in Islamic finance. The final part encompasses the risk profile of Islamic finance products and explores mitigation strategies. The book simultaneously presents theories practice and key issues introducing new ideas and perspectives to the Islamic banking and financial community. </p><p>The primary audience for the book will be researchers and scholars of Islamic economics and finance and it will also appeal to practitioners and regulatory bodies. </p>