In the name of Allah, the Most Gracious, and the Most Merciful.

Praise be to Allah , Peace be upon the

Prophet Muhammad, his family and companions, May Allah bless them with honour and graces.

The interest on Muamalat has been growing nowadays with the successful implementation and growth
of the Islamic financial industry. As we can see,Islamic finance has developed into a global
phenomenon. The industry has a globally diverse clientele and is attracting growing interest from global
players who are increasingly playing major roles in this industry. Islamic finance is considered as an
alternative to the conventional economic and financial system and is seen as the possible solution for
the current global financial crisis. The Islamic financial industry has emerged as a competitive
component of the financial system, along with the conventional financial system, in contributing
towards the country‟s economic development. Currently, Islamic financial Institutions promoting
comprehensive Islamic financial infrastructure and the success of integrating the Islamic finance into the
financial system contributes to a more progressive domestic financial intermediation process. Islamic
finance has been on the rise for many years across markets in Africa, the Middle East and Southeast
Asia. Islamic finance now facing a lot and new challenging.

Since I have been in the Islamic Finance filed, I like to do a lot of research related to digital banking and
finance. Nowadays, we can see a new digital cryptocurrency been used in the market. Without doubt,
cryptocurrencies seem to be the most visible albeit controversial example of fintech. This further
justifies the need to clarify the l Sharī‘ah issues pertaining to such fintech applications.

As a current job required me to Conduct Shariah research and process of retail’s products such Digital
Banking and that forcing me to go very deep in conducting research for such new product. Beside, I also
performing an assessment and review exercise over the company’s business, operation and activities to
Ensure the Shari'a compliance (as manifested by the guidelines and Fatawa issued by the Shari’a Board
on a day to day basis in all its business activities, operations and transactions (by reviewing the approval
of the contracts, agreements, policies, procedures, products, process flows, transactions, reports (profit
distribution calculations), etc.

Thus, my aim is to do new research to give benefit and solutions related to latest development and grow
in Islamic finance globally.