Fintech in islamic finance literature: A review

Muneer M. Alshater; Irum Saba; Indri Supriani; Mustafa Raza Rabbani

doi:10.1016/j.heliyon.2022.e10385

Fintech in islamic finance literature: A review

Muneer M. Alshater^*
, Irum Saba
, Indri Supriani
, Mustafa Raza Rabbani

^*Corresponding author for this work

Faculty of Economics and Business

Research output: Contribution to journal › Review article › peer-review

142 Citations (Scopus)

Abstract

This study reviews Islamic FinTech research development from 2017 to 2022. The study adopts a hybrid approach combining bibliometric and content analysis to reveal the current research trend of Islamic FinTech research. Using the Scopus database, we retrieve 85 documents and analyze them using RStudio and VOSviewer. The content analysis categorizes the research output in Islamic FinTech into four distinct streams. The study finds potential for cointegrating FinTech into Islamic finance to benefit the unbanked and small-medium-size businesses, the adoption of FinTech in Islamic finance will also help the government improve financial inclusion, conquer financial crises, such as COVID-19, and achieve SDGs for a sustainable nation. However, the lack of legal regulation and the lower financial literacy becomes the primary obstacle to the development of FinTech in Islamic finance.

Original language	English
Article number	e10385
Journal	Heliyon
Volume	8
Issue number	9
DOIs	https://doi.org/10.1016/j.heliyon.2022.e10385
Publication status	Published - Sept 2022

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 1 No Poverty
SDG 8 Decent Work and Economic Growth
SDG 10 Reduced Inequalities
SDG 17 Partnerships for the Goals

Keywords

Blockchain
Crowdfunding
Cryptocurrency
Islamic FinTech
P2P lending
Payments

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10.1016/j.heliyon.2022.e10385

Cite this

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title = "Fintech in islamic finance literature: A review",

abstract = "This study reviews Islamic FinTech research development from 2017 to 2022. The study adopts a hybrid approach combining bibliometric and content analysis to reveal the current research trend of Islamic FinTech research. Using the Scopus database, we retrieve 85 documents and analyze them using RStudio and VOSviewer. The content analysis categorizes the research output in Islamic FinTech into four distinct streams. The study finds potential for cointegrating FinTech into Islamic finance to benefit the unbanked and small-medium-size businesses, the adoption of FinTech in Islamic finance will also help the government improve financial inclusion, conquer financial crises, such as COVID-19, and achieve SDGs for a sustainable nation. However, the lack of legal regulation and the lower financial literacy becomes the primary obstacle to the development of FinTech in Islamic finance.",

keywords = "Blockchain, Crowdfunding, Cryptocurrency, Islamic FinTech, P2P lending, Payments",

author = "Alshater, \{Muneer M.\} and Irum Saba and Indri Supriani and Rabbani, \{Mustafa Raza\}",

note = "Publisher Copyright: {\textcopyright} 2022",

year = "2022",

month = sep,

doi = "10.1016/j.heliyon.2022.e10385",

language = "English",

volume = "8",

journal = "Heliyon",

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publisher = "Elsevier Ltd",

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TY - JOUR

T1 - Fintech in islamic finance literature

T2 - A review

AU - Alshater, Muneer M.

AU - Saba, Irum

AU - Supriani, Indri

AU - Rabbani, Mustafa Raza

PY - 2022/9

Y1 - 2022/9

N2 - This study reviews Islamic FinTech research development from 2017 to 2022. The study adopts a hybrid approach combining bibliometric and content analysis to reveal the current research trend of Islamic FinTech research. Using the Scopus database, we retrieve 85 documents and analyze them using RStudio and VOSviewer. The content analysis categorizes the research output in Islamic FinTech into four distinct streams. The study finds potential for cointegrating FinTech into Islamic finance to benefit the unbanked and small-medium-size businesses, the adoption of FinTech in Islamic finance will also help the government improve financial inclusion, conquer financial crises, such as COVID-19, and achieve SDGs for a sustainable nation. However, the lack of legal regulation and the lower financial literacy becomes the primary obstacle to the development of FinTech in Islamic finance.

AB - This study reviews Islamic FinTech research development from 2017 to 2022. The study adopts a hybrid approach combining bibliometric and content analysis to reveal the current research trend of Islamic FinTech research. Using the Scopus database, we retrieve 85 documents and analyze them using RStudio and VOSviewer. The content analysis categorizes the research output in Islamic FinTech into four distinct streams. The study finds potential for cointegrating FinTech into Islamic finance to benefit the unbanked and small-medium-size businesses, the adoption of FinTech in Islamic finance will also help the government improve financial inclusion, conquer financial crises, such as COVID-19, and achieve SDGs for a sustainable nation. However, the lack of legal regulation and the lower financial literacy becomes the primary obstacle to the development of FinTech in Islamic finance.

KW - Blockchain

KW - Crowdfunding

KW - Cryptocurrency

KW - Islamic FinTech

KW - P2P lending

KW - Payments

UR - https://www.scopus.com/pages/publications/85137110883

U2 - 10.1016/j.heliyon.2022.e10385

DO - 10.1016/j.heliyon.2022.e10385

M3 - Review article

AN - SCOPUS:85137110883

SN - 2405-8440

VL - 8

JO - Heliyon

JF - Heliyon

IS - 9

M1 - e10385

ER -

Fintech in islamic finance literature: A review

Abstract

UN SDGs

Keywords

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