The Risks of Islamic Fintech

Tajudeen Olalekan Yusuf ()
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Tajudeen Olalekan Yusuf: University of Lagos

Chapter Chapter 20 in Islamic FinTech, 2021, pp 367-384 from Springer

Abstract: Abstract The article explores the risk factors that trail the introduction of technology into Islamic finance in Nigeria. While Islamic finance is relatively nascent in the Nigerian financial sector, it would not be out of place to underscore the impact it has made. Borrowing from its conventional counterpart, Islamic finance has largely followed the trend and development to structure and market its offerings to the Nigerian public. Typically, Islamic finance is faced by similar risk exposures as documented for its conventional counterpart which include strategic, financial, regulatory, operational, technological and political risks. The additional peculiar risk exposures are Shari’ah compliance and business partnership risks. By and large, the practical experience in Nigeria suggests herculean hurdles for Islamic finance to cross to give birth to financial Eldorado.

Keywords: Islamic; Fintech; Shariah; Nigeria; Risks; Finance (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-45827-0_20

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DOI: 10.1007/978-3-030-45827-0_20

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