Islamic Digital Economy: The Role of Islamic Fintech as Economy Driver

Authors

  • Nur Syaheera Za’aba School of Muamalat & Management, Kolej Pengajian Islam Johor (MARSAH)
  • Norafni @ Farlina Rahim School of Muamalat & Management, Kolej Pengajian Islam Johor (MARSAH)
  • Siti Mursyidah Zanorrain School of Muamalat & Management, Kolej Pengajian Islam Johor (MARSAH)
  • Nur Adilla Mohd Isa
  • Nursyafikah Raziman School of Muamalat & Management, Kolej Pengajian Islam Johor (MARSAH)

Keywords:

Fintech, Islamic Fintech, Islamic Finance Islamic Digital Economy

Abstract

Digital economy is thriving all over the world as one of the contributing sectors in gross domestic product (GDP). The technology revolution, internet penetration and millennials as consumer driver has accelerated the booming of digital economy to its full potential. Islamic digital economy is part of the digital economy that should not be overlooked, as it not only generates the handsome profit but also a jumping stone of digital economy to reach its full throttle. One of the least discussed area in Islamic digital economy is the role of Islamic Fintech. Although Islamic Fintech is currently popular due to its increasing demands, but how it can accelerate the Islamic digital economy is not fully explored. This paper tries to discuss the role of Islamic Fintech as driver in Islamic digital economy. This study is qualitative in nature, where the researchers use content analysis through reports, journals and articles published. The role of Islamic Fintech is Islamic digital economy are vast and diverse, and not confined to the religiosity issue, but also complimenting the digital economy as a whole. This paper found four main roles of Islamic Fintech in Islamic digital economy. This study is hoped to be a catalyst for wider issues in Islamic Fintech in digital economy.

Published

2020-12-04