Islamic FinTech and Financial Inclusion

Aishath Muneeza () and Zakariya Mustapha
Additional contact information
Aishath Muneeza: Lorong Universiti A
Zakariya Mustapha: Jalan Universiti

Chapter Chapter 10 in Islamic FinTech, 2021, pp 173-190 from Springer

Abstract: Abstract The modern Islamic finance as an offshoot of financial engineering is the product of permissible innovation as a manifestation of the dynamism of Islam which allows for permanence and continued relevance of Islam in any age to come. Using technology or any permissible means to bring about financial solutions in society that ease human life is an integral part of the overall objectives of Shariah. Speaking in economic terms, Sharia strives at individual prosperity as much as of the society on the ideal that prosperity of individuals that make up a society underlies the prosperity of the society. In this modern age and time, financial inclusion constitutes a fundamental component of most governmental policies and action plans aimed at ensuring prosperity of society via improved social welfare to eradicate poverty and enhance living standard. Financial inclusion constitutes a fundamental component of such policies and action plans. Accordingly, Islamic finance is said to be committed to the ideal of financial inclusion having regard to its ideal of bringing prosperity to individuals and society in such a way that will translate to and help economies grow. This is to be pursued through every permissible means now available or to be invented in future, within the confines of Islamic values of financing.

Keywords: FinTech; Islamic; Shari’ah; Finance; Financial Inclusion (search for similar items in EconPapers)
Date: 2021
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:sprchp:978-3-030-45827-0_10

Ordering information: This item can be ordered from
http://www.springer.com/9783030458270

DOI: 10.1007/978-3-030-45827-0_10

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().