The Potential Role of Fintech and Digital Currency for Islamic Green Financing: Toward an Integrated Model

Mohamed Asmy Bin Mohd Thas Thaker (), Ahmad Bin Khaliq (), Hassanudin Bin Mohd Thas Thaker (), Md Fouad Bin Amin () and Anwar Bin Allah Pitchay ()
Additional contact information
Mohamed Asmy Bin Mohd Thas Thaker: International Islamic University Malaysia
Ahmad Bin Khaliq: International Islamic University Malaysia
Hassanudin Bin Mohd Thas Thaker: UCSI University
Md Fouad Bin Amin: King Saud University
Anwar Bin Allah Pitchay: Universiti Sains Malaysia

Chapter Chapter 14 in Green Digital Finance and Sustainable Development Goals, 2022, pp 287-308 from Springer

Abstract: Abstract The role of FinTech and digital currency on green financing has gained significant attention in recent years. With the assistance of FinTech and digital currency, investors are redirecting their investment portfolio into economic activities that bring good balance between economic, environmental, and social objectives. This is to promote the well-being of humans and to mitigate climate change, biodiversity loss, and inequality. Indeed, FinTech and digital currency are touted as game-changers that help to innovate new investment instruments related to green-based projects and close the financing gap. While progress has been made in green financing, the applications of FinTech and digital currency in the context of Islamic green financing are scarce. Currently, traditional methods are used to raise funds for green-based projects or activities, thus creating a financing gap between issuers and investors. Although many issuers promote and facilitate flexibility and financial innovation, many investors lack the depth of using the power of FinTech and digital currency to harness their potential. In fact, the literature remains silent on this important gap. There is an absence of an integrated model, which could enhance the role of FinTech and digital currency in Islamic green financing. The novelty of this study lies in setting a new research direction for integrated FinTech and digital currency models that can be instrumental in further enhancing and optimizing the efficiency of Islamic green financing.

Keywords: FinTech; Digital currency; Green finance; Islamic green finance; Integrated model; O3; Q2; Q5 (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:eclchp:978-981-19-2662-4_14

Ordering information: This item can be ordered from
http://www.springer.com/9789811926624

DOI: 10.1007/978-981-19-2662-4_14

Access Statistics for this chapter

More chapters in Economics, Law, and Institutions in Asia Pacific from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().