Analysis of Fatwas on FinTech

Mohamed Cherif Amri () and Mustafa Omar Mohammed
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Mohamed Cherif Amri: Istanbul Sabahattin Zaim University
Mustafa Omar Mohammed: International Islamic University Malaysia

Chapter Chapter 5 in Islamic FinTech, 2021, pp 73-90 from Springer

Abstract: Abstract By the end of the twentieth century, the global financial system began experiencing a rapid financial technological development, which culminated in the first decade of the twenty-first century, with extraordinary increase in innovations of financial instruments (mostly technological). Today, a new wave of technological innovations often called “Fintech” is gradually dominating the financial sector. According to KPMG (2017), “the total global investment in Fintech companies increased from US$9 billion in 2010 to over US$25 billion in 2016. Venture capital investment has also risen steadily, from US$0.8 billion in 2010 to US$ 13.6 billion in 2016”. According to consultancy Accenture, more than US$50 billion has been invested in Fintech globally since 2010.

Keywords: Fatwa; FinTech; Shari’ah; Principles; Application (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_5

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DOI: 10.1007/978-3-030-45827-0_5

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