Can the Sharia Finance Industry Still Adopt New Innovations?
Journal Title: Journal of Economics, Finance and Management Studies - Year 2023, Vol 6, Issue 11
Abstract
The rapid growth of the sharia and halal product industry marks a positive development in global market share. Even though it is run according to conventional management principles, the sharia industry faces significant challenges in adopting new technology, especially in the sharia financial sector such as Fintech. This research aims to explore the extent to which sharia principles can adapt to modern technological innovations such as cryptocurrencies, blockchain, crowdfunding and P2P Lending. The Islamic finance industry is responding to technological challenges by developing technology-based solutions according to sharia principles. Collaboration between industry and religious authorities is considered crucial to provide clear guidelines and fatwas regarding the use of technology in a sharia context.
Authors and Affiliations
Nurul Fadila, F Mario Andaru, Y Anni Aryani
Keywords
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- EP ID EP729622
- DOI 10.47191/jefms/v6-i11-56
- Views 56
- Downloads 0
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