Islamic Finance and Cryptocurrency: A Systematic Review

Mustafa Raza Rabbani (), M. Kabir Hassan, Fahmi Ali Hudaefi () and Zakir Hossen Shaikh ()
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Mustafa Raza Rabbani: University of Bahrain
Fahmi Ali Hudaefi: Institute Agama Islam Darussalam (IAID) Ciamis, Indonesia and BAZNAS Center of Strategic Studies
Zakir Hossen Shaikh: Bahrain Training Institute

A chapter in FinTech in Islamic Financial Institutions, 2022, pp 279-306 from Springer

Abstract: Abstract The present study aims to do a systematic review of the literature on cryptocurrency and Shariah compliance. It also explores the Shariah compliance of the conventional cryptocurrencies, such as the Bitcoin, Ethereum and Litecoin, among others. The review is undertaken based on the Scopus database. The findings of the study indicate that financial technology (Fintech) has emerged as the most disruptive technology in recent times. Cloud computing with its disruptive technological innovation has changed the landscape of many industries and one such innovation is the Blockchain-based cryptocurrency. The study concludes that trading in cryptocurrencies, such as the Bitcoin, Ripple and Ethereum is not Shariah-compliant. We discuss further to add to the literature on Shariah-compliant cryptocurrency market and instruments.

Keywords: Bitcoin; Blockchain; Cloud computing; Cryptocurrency; Financial technology; Islamic Fintech (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-14941-2_14

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DOI: 10.1007/978-3-031-14941-2_14

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