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Abstract
This article explores the transformative impact of digital financial technology (FinTech) on Islamic insurance (Takaful) and other financial institutions. It examines the unique opportunities and challenges associated with FinTech innovation in the context of Islamic finance, characterized by adherence to Shariah principles. The study examines the integration of digital technologies such as blockchain, artificial intelligence (AI) and big data analytics to improve operational efficiency, customer experience and regulatory compliance. In addition, it addresses specific issues facing Islamic financial institutions, including Shariah compliance, cybersecurity risks, and the digital divide. The results highlight the need for a strategic approach to leveraging FinTech for sustainable growth in the Islamic finance sector.
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References
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References
Jalante, R., Lassa, J., Setiamarga, D., Sujatma, A., Indrawan, M., Haryanto, B., ... and Warsila, H. (2020). Review and analysis of current COVID-19 response in Indonesia: January to March 2020. Progress in Disaster Science , 6 , 100091.
Suvandari Y.D., Suratkon A. and Limantara A.D. Financial models of cash waqf as a financial instrument of public-private partnership (PPP) for infrastructure projects: a literature review.
Nasution A.H. and Lukmandono L. A review of the literature, prospects and impact of bancassurance on the stability of the banking industry. Journal of Operation Excellence: Journal of Applied Industrial Engineering , 13 (3), 310-320.
Alshater, M. M., Hassan, M. K., Khan, A., & Saba, I. (2021). The Influential and Intellectual Framework of Islamic Finance: A Bibliometric Review. International Journal of Islamic and Middle Eastern Finance and Management , 14 (2), 339-365.