Showing items related by title, author, creator and subject.

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  The Future of Islamic Finance: From Shari’ah Law to Fintech

  Raheem, Mohamed Mahees; Smolo, Edib; Department Collaboration; NA; 0; 0; Finance; 0; Smolo, Edib (Emerald Publishing Limited, 2024-11-07)
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  Conclusion: Beyond the Horizon

  Smolo, Edib; Raheem, Mohamed Mahees; Department Collaboration; NA; 0; 0; Finance; 0; Raheem, Mohamed Mahees (Emerald Publishing Limited, 2024-11-07)

  This chapter delves into the complex yet fascinating arena of Islamic finance, looking at its historical foundations and dealing with today’s complexities. There is a huge struggle in Islamic economics in meeting the contemporary needs while practising moderate framework, observing the difference between strictly abiding by the rules and achieving the ethical goals beyond the profit. It urges for a value-driven approach within institutions and the implementation of the zakat, sadaqah and waqf systems to fill the Sustainable Development Goal (SDG) financing gap. Seizing the opportunities, the chapter promotes the necessity of Islamic fiqh experts with current Shari’ah body of knowledge in considering the ethical and legal aspects alongside fintech. This is essentially to ensure that the implementation of Islamic finance enables the sustainable economic development. Looking toward the Industry 5.0, it expects a combination of artificial intelligence (AI) with Islamic finance and identifies Islamic social finance as a powerful socially-driven tool. In the end, the chapter lays out Islamic finance as the powerful tool to work together to achieve an ethical, equitable, and sustainable financial system.
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  The Future of Islamic Finance

  Hidayat, Sutan Emir; Musari, Khairunnisa; Masrohatin, Siti; Smolo, Edib; External Collaboration; NA; 0; 0; Finance; 0; et al. (Emerald Publishing Limited, 2024-11-07)

  In this chapter, the integration of diverse discussions from preceding chapters converges into a comprehensive exploration of four pivotal challenges facing Islamic finance both presently and in the future. The chapter systematically addresses these challenges, commencing with a focused analysis on augmenting the role of Islamic finance in fostering financial inclusion. It scrutinizes innovative strategies to broaden access to financial services. Moving forward, the narrative navigates the intricate intersection of Islamic finance and sustainability, unraveling the potential synergy between these two domains and their collective contribution to Sustainable Development Goals (SDGs). The exploration extends to the realm of digitalization, probing how modern technologies such as artificial intelligence and blockchain can serve as catalysts for the progression of Islamic finance. Finally, the chapter delves into the imperative of harmonizing the Islamic financial industry (IFI), tackling challenges and proposing solutions to enhance uniformity and coherence in practices. These nuanced discussions not only address contemporary challenges but also underscore their critical role in achieving the SDGs and aligning with the targets of the Paris Agreement by 2030, providing valuable insights for scholars, practitioners, and policymakers in the field of Islamic finance.