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Bar Council Malaysia will not be liable for the postage cost if any publication(s) is sent back to us.
Therefore, one can say a sample of at least 24 banks from each banking system is acceptable.
Moreover, financial inclusion has become the least popular topic studied by researchers, as only 13
papers (15%) have been found in the Scopus database. An assessment of the practice and
implications of Islamic banking in developed countries represents an interesting direction for future
research. However, other arguments in the literature suggest the contrary. Table 3 shows that the
value of each construct exceeded the recommended threshold of 0.70 for both measures, thus
establishing the reliability of the measurement model ( Hair et al., 2017 ). Convergent validity was
considered according to the average variance extracted (AVE) and outer loadings for each item to
determine if they converge on their construct. Similarly, their higher capitalization and the
prohibition against trading in derivatives are likely to enhance stability and performance during
crises. Handling problematic financing is a very important thing, not only in terms of the obligation
to settle debts and receivables of a legal subject, but also clos. Salam and Istisna are the only debt-
based financing instruments that do not require physical asset ownership for sale (Hussain,
Shahmoradi, and Turk, 2015 ). The first phase between 1866 to 1967 was marked by trans-Atlantic
cable and telegraph as a means of financial communications. The second sub-stream addressed
Islamic FinTech development and its impact on Islamic finance institutions. The mapping analysis
visualises the most common topic based on the co-occurrences of keywords ( Baker et al., 2020 ).
Figure 4. describes the keyword occurrence: author keywords by setting the minimum occurrence of
word is two times. Their evidence also suggests that Islamic banks were able to mobilize the savings
of Muslim individuals. To achieve the research objectives, survey questionnaires were administered
fifty respondents including both practitioners and academics and the data were analysed using
simple percentages. The literature has defined crowdfunding as an open call, essentially through the
Internet, for the provision of financial resources either in the form of donations or in exchange for
some form of reward and voting rights to support projects based on social, profitable, or cultural
motives ( Mollick, 2014; Schwienbacher and Larralde, 2010 ). Share of Islamic Banks’ Assets in
Total Banking Sector by Country (1H2016). The Sharia principles of profit-and-loss sharing, and the
prohibitions on paying and receiving interest and taking excessive risk (e.g., investing in derivatives
products) help buffer Islamic banks during financial crises. The studies on the blue cluster cover the
studies related to the shariah compliance and customer's trust in FinTech. Thus, at the second stage
of data curation, we obtained 11 documents. Under an Ijara contract, the bank retains ownership of
the goods, leasing them out for pre-agreed payments (to avoid speculation) over a pre-agreed period
of time, just as in a conventional leasing contract. During periods of uncertainty, faith-driven
investors find refuge in norm-confirming investments (i.e., Islamic banks). Further investigation is
warranted on the determinants of stock liquidity of Islamic banks, and the outcome of such liquidity
on the cost of financing of both Islamic and conventional banks. These Islamic financial contracts
fall into two asset categories: equity and debt. Table 12.2 summarizes the six basic Islamic finance
instruments, which are discussed in more detail next. Four statements measure the objectives of
Islamic banking (OB), which refers to the Islamic bank providing banking services based on the
Sharia. TCMAs takes lot of amount of power and when it is matched flows in OpenFlow switch, put
a bound on switch latency. Give four examples of Islamic investment principles. 11. What are the six
doctrines of the Islamic creed. Emphasis is placed on mini case studies, multiple choice questions
and tests of the basic concepts. The shariah compliance of bitcoin and cryptocurrency still has
become a debate amongst Islamic scholars and stakeholders (M. K. Hassan, Karim, et al., 2020 ).
Aloui et al. (2021) found that Islamic cryptocurrencies positively correlate with yellow metal.
However, in a study on UAE banks, Nobanee and Ellili ( 2016 ) find no evidence of a relation
between Islamic banks’ performance and CSR disclosure. We find that Islamic banks greatly promote
stability by providing liquidity during financial shocks and create more liquidity per asset compared
to conventional banks. Third, the funders, such as the rab al-Mal, should have a clear and
comprehensive understanding of the loss and return from the contracts and business activities.
Respondents were deemed to be educated as 73% obtained a tertiary education while 21%
completed schooling up to Grade 12. This, no doubt, prohibits the receipt or payment of interest as
the nucleus of the system, but is supported by other principles of Islamic doctrine advocating risk
sharing, individuals' rights and duties, property rights, and the sanctity of contracts. They show that,
during the crisis, Islamic banks had a higher rate of failure, and therefore shorter survival times, than
conventional banks, contradicting Pappas et al. ( 2017 ). Regarding resilience, the IFSI Stability
Report 2018 (IFSB, 2018, p. 4) indicates that: “Global Islamic banking has sustained its resilience,
and most of its stability indicators are in comfortable compliance with the minimum international
regulatory requirements. Several studies investigate the possibility of optimizing the P2P platform.
Table 3 shows that convergent validity has been established for the measurement model. For
example, a crowdfunding model is required for credit insurance to eliminate the credit risk. Given
the consideration of previous explanation, the selected keywords in this study were identified by
conducting a pre-simulation to assure that the keywords cover most of the existing studies related to
Islamic FinTech. Another research by W. M. A. Ahmed (2021) analysis the sensitivity of the Islamic
stock market towards the dynamic volatility of bitcoin in developed and emerging markets and
found a similar behavior of Islamic stock in two types of markets during normal, bear, and bull
markets states. The bibliometrics analysis is used in this study to answer the RO1 and RO2, whereas
SLR-PRISMA is adopted to address the RO3 and RO4. The SLR used is based explicitly on the
Preferred Reporting Items for Systematic reviews and Meta-Analyses (PRISMA), a well-suited
method to synthesize the research finding from the most impactful selected studies in this research
field. The former Finance Minister, Pravin Gordhan, is quoted as follows: “The development of
Islamic finance in South Africa is critical to National Treasury’s strategy to position South Africa as
a gateway into Africa” ( Cover, 2011 ). Note there is a positive relation for conventional banks. From
another perspective, Kannaiah et al. (2017) and Kim et al. (2018) discuss the relationship between
financial inclusion and the economic growth of a country. Diving deep, this study also explores the
relationship between customer satisfaction and customer loyalty. Doumpos, Hasan, and Pasiouras (
2017 ) further emphasize the mixed results in the literature in their focus on the relative financial
strength of Islamic and conventional banks. This study also offers analysis of the trending topics
over the years. Farooq and Zaheer ( 2015 ) add supporting evidence from Pakistan, where Islamic
banks had lower withdrawals, attracted more deposits, and disbursed more loans than conventional
banks during the crisis. This type of contract comes closest to the principles of equity and
participation that form the basis of Sharia law, since it involves risk sharing, asset ownership, and no
interest. In Islamic banks, demand deposits ( Amanah ) are entrusted to the bank. Sitemap case
study creative writing presentation problem solving rewiew prompts websites tips. The results of this
study indicate that the rapid development of sharia banks compared to con. Instead, Srairi ( 2010 )
shows that Islamic banks are, on average, less cost- and profit-efficient than conventional banks.
Finally, and as shown by Khan ( 2010 ), there is a high correlation between the profit-sharing ratios
in Islamic banks’ instruments and standard interest rate proxies, such as LIBOR rates. Download
Free PDF View PDF Ihtifaz: Journal of Islamic Economics, Finance, and Banking Islamic Financial
Literacy and Its Effects on Intention to Use Islamic Bank Dian Friantoro Introduction: Islamic
finance in Indonesia has a rapid development in this millennial era. The results potentially enrich
those charged with governance by providing a deeper understanding of the relationship between the
objectives of Islamic banking, which is rooted in the Sharia, and how it influences customer
satisfaction and customer loyalty. Oman, for example, saw increases in Islamic banking assets,
financing, and deposits of more than 30 percent each in 2Q2017. The purpose of this research is to
investigate the challenges and opportunities of Islamic finance in Nigeria. Over the last decade, the
family of cryptocurrencies has witnessed tremendous growth, with more than USD 2 trillion in total
market value. The key explanatory variable is IB, an indicator that equals 1 if a bank is an Islamic
bank. The third phase, from 2008 onwards, is marked by the use of high-tech by newer entrants with
different characteristics, creating a new competitive landscape for financial institutions.
Second, debt-based crowdfunding is based on debt-based contracts. Customer satisfaction could be
increased by ensuring that the Islamic bank focuses on objectives that line up with the Sharia, as
shown in the result of the study. Thus, the authors contribute to the literature by providing a practical
and applicable model to detach the valuation of Murabaha and Musharakah Moutanaquissah from
the interest rate. Emphasis is placed on mini case studies, multiple choice questions and tests of the
basic concepts. To elaborate, Riba —an important feature of conventional banking—corresponds to
the “fixing in advance of a positive return on a loan as a reward for waiting to be repaid” (Zaher and
Hassan, 2001, p. 156). The prohibition of Riba, which is an increase in money not connected to a
tangible real economic increase, is consistent with the principle of equity. Some authors argue that it
is because of their higher capitalization and asset quality that Islamic banks were able to outperform
their conventional counterparts during the GFC (e.g., Bourkhis and Nabi, 2013 ). Islamic banking is
well-defined as consistent with Sharia (Kettell, 2011; Oshodi, 2014; Zaman, 2015). What are the
differences between Shiites and Sunnis ? 8. Islamic banks offer services that cater to religious
sensitivities, for example, honouring financial and moral obligations to God and stakeholders.
Moreover, the complexity of Islamic financial instruments, combined with their regulatory and
compliance risk, increase their exposure to overall operating risk (Beck, Demirguc-Kunt, and
Merrouche, 2013 ). The key explanatory variable is IB, an indicator that equals 1 if a bank is an
Islamic bank. Consequently, X8 AG 1 and OneGram 2 launched the shariah - compliant
cryptocurrencies backed by gold and stable fiat currencies such as USD, euro, etc. For example,
Tawarruq, instruments used by Islamic banks to fulfill clients’ demands to extend personal loans, are
permitted in the UAE but not in Iran. The major challenges are lack of awareness, inadequate
shari’ah experts and insufficient regulatory frameworks. They also follow the idea “that all
transactions have to be backed by a real economic transaction that involves a tangible asset” (Beck,
Demirguc-Kunt, and Merrouche, 2013, p. 433), which is in line with the participation and ownership
principles. In the post-reform period, however, the authors note that Islamic bank depositors
increased their sensitivity to bank-specific risks. Financial inclusion can be achieved by combining
technology with Islamic finance and Islamic FinTech is the way to go forward ( Kim et al., 2018 ).
There are also studies on the role of Islamic versus conventional finance in financial inclusion (
Nawaz, 2017 ). It also includes a full answer key and brief chapter summaries, as well as learning
objectives. The prototype of Islamic banking in South Africa can be traced back to as early as 1975,
owing to the incorporation of Jaame Limited, a financial company offering Shari?ah-compliant
products and services. Demirguc-Kunt, A., Klapper, L., Randall, D.: Islamic Finance and Financial
Inclusion: Measuring Use of and Demand for Formal Financial Services among Muslim Adults.
Alandejani, Kutan, and Samargandi ( 2017 ) adopt a different approach, and focus on bank failure
risk. Additionally, based on the previous research's results, this study underlined that the shariah
compliance of cryptocurrency and blockchain is still inconclusive with tendency toward rejection of
cryptocurrency as a meduim of exchange. First, Islamic banks create more liquidity because they are
generally better at absorbing risk, they are more highly capitalized, and they are less exposed to bank
runs than conventional banks. The literature provides us with ample empirical evidence to support
these arguments. It, therefore, creates incentives for other banks to innovate in order to increase their
competitiveness. Resources Dive into our extensive resources on the topic that interests you. The
relevance of this study is contributing to the debate which concerns the possible relevance of Islamic
Banking to the potential development and redefinition of conventional banking. In result, at the first
stage of data curation, we obtain 265 documents. Mohammed told others of his revelations, and
attracted followers who transcribed them onto available materials. Hence, they tend to become more
hesitant to obtain funding from online crowdfunding ( Rahman et al., 2020 ). Consequently, there is
a dire need for awareness among all the stakeholders and institutionalize it at the macro-level,
including establishing shariah regulation for crowdfunding platforms ( Shofiyyah et al., 2019; Baber,
2021 ).
It is important to determine how banking systems differ in terms of risk-taking behaviour and
decision-making on lending; and whether these banks are capable of better control and rational
decision-making when formulating and implementing lending decisions. Under the TCMAs it was
that the power consumption was high. Islamic Banking — A Challenge to Conventional Banking.
This article is published under the Creative Commons Attribution (CC BY 4.0) licence. Anyone may
reproduce, distribute, translate and create derivative works of this article (for both commercial and
non-commercial purposes), subject to full attribution to the original publication and authors. Shinkafi
et al. (2020) and Zulkhibri (2016) report similar findings, arguing that Islamic banks and financial
institutions have an essential role in the financial inclusion of the poor and marginalized. The search
criterion is confined to empirical studies that examined the transmission of interest-based monetary
policy through Islamic banks' financing, particularly empirical studies that check the existence of an
Islamic bank financing channel of conventional monetary policy. The authors find that Islamic banks
take higher risks and achieve higher performance than conventional banks. In this step, we extracted
the substantial findings of previous studies and presented them in tables and discuss them. Adobe
InDesign Design pixel-perfect content like flyers, magazines and more with Adobe InDesign. Other
studies further investigate the role of FinTech in enhancing the contribution of the Islamic social
economy and financial institutions during COVID-19. Moreover, in the case of Islamic microfinance,
S. A. Shaikh (2021) explained that FinTech would enable Islamic microfinance to obtain a broader
range of fund providers, increase transparency, decline the transaction cost, support the customer's
monitoring process, and increase the accuracy in screening criteria. This study highlights two
prominent factors that arguably influence the adoption of the P2B platform. Several studies
investigate the possibility of optimizing the P2P platform. She acts as Associate Editor for the
Journal of Corporate Finance, as Editor in Chief for Finance Research Letters, co-editor for the
Quarterly Review of Economics and Finance, and is on the editorial boards of Emerging Markets
Review and the Journal of International Financial Markets Institutions and Money. AD 570 in
Mecca, a trading city in the Arabian desert. Furthermore, the study makes a theoretical contribution
as it builds on the work by Els et al. (2017) and Roberts-Lombard (2020) in that an additional factor,
that being the objectives of Islamic banking, is assessed concerning its relationship with satisfaction
and loyalty in addition to evaluating the relationship between satisfaction and loyalty. Third, reward-
based crowdfunding is when the provider of funds receives an appreciation or reward in the form of
a gift or acknowledgment for supporting the project. Thus, to maintain the customer's loyalty and
satisfaction, the quality and performance of Islamic banking, specifically mobile banking, should
improve immensely. Reliability was evaluated based on Cronbach’s alpha and composite reliability
measures. The data was collected using an online survey and analysed using a structural equation
model based on the partial least squares method. They find evidence of higher capitalization during
local crises, and a stronger negative trend in the capitalization of Islamic banks than in conventional
banks. They also follow the idea “that all transactions have to be backed by a real economic
transaction that involves a tangible asset” (Beck, Demirguc-Kunt, and Merrouche, 2013, p. 433),
which is in line with the participation and ownership principles. The focus of religion in Mecca was
the Ka'aba, a stone building believed to have been built by Adam at the beginning of time, and
rebuilt by the Prophet Abraham and his son Ishmael. Oladapo et al. (2021) put forth that customers'
knowledge of Islamic FinTech is significantly related to the increasing customer's intention to utilise
FinTech. To identify the main research themes from existing studies on Islamic FinTech. For
example, Tawarruq, instruments used by Islamic banks to fulfill clients’ demands to extend personal
loans, are permitted in the UAE but not in Iran. However, the lack of legal regulation and the lower
financial literacy becomes the primary obstacle to the development of FinTech in Islamic finance.
This study used Partial Least Square (PLS) to evaluate the relationship between the Maqasid al-
Shariah concept and its indicators and linear regression to prove causality relationship between
variables. Others have defined it as banking based on principles of Islamic economics ( Aburime and
Alio, 2009; Alam et al., 2017 ). However, some also conceive that in addition to the Islamic bank
having to comply with Sharia, the Islamic bank is also tasked with engaging in corporate social
responsibility to promote justice and well-being in society ( Nathan and Pierce, 2009; Siddique and
Iqbal, 2014 ). The first international Islamic bank, the Islamic Development Bank (IDB), was
founded in 1975 by members of the Organisation of Islamic Cooperation.
In another case, Afroz et al. (2019) declare that implementing crowdfunding for financing solar
energy in Malaysian households is possible. Data was gathered for this purpose from a sample of 200
customers at various Islamic banks in Hyderabad using a standardized questionnaire with 30
questions. For example, what are the liquidity implications of Islamic banks, and how do
conventional banks compare in terms of stock liquidity. Taking BPRS Adeco (Aceh Development
Corporate) in Langsa City District, Aceh, as a case study, this research takes a qualitative approach.
One could also explore whether the quality of financial information reporting is comparable for
Islamic banks across time, including during crises. 12.4.5 Corporate Social Responsibility With its
principles of equity and participation, Islamic banking is viewed as a type of ethical banking. On the
other hands, Islamic economy, including its handling methods, are guided by the Holy Quran and the
hadiths of the Prophet Muhammad (Peace be Upon Him). We find that Islamic banks greatly
promote stability by providing liquidity during financial shocks and create more liquidity per asset
compared to conventional banks. A Mudaraba contract is structured as a profit-sharing and loss-
bearing contract, whereby a principal (the bank or investor) provides funds to an agent
(entrepreneur), who in turn provides effort and management expertise for the project. According to
the Global Findex databases 2017, the situation in Organization of Islamic Cooperation (OIC)
countries remains worse as adults participating in the financial system or having no access to the
financial services remains low as compared to the high-income countries. The sample used was
selected by purposive sampling. Xinming Li is an Associate Professor of Finance at the School of
Finance at Nankai University and a consultant at the World Bank Group. Issuu turns PDFs and other
files into interactive flipbooks and engaging content for every channel. Beck, Demirguc-Kunt, and
Merrouche ( 2013 ) argue that such complexities in Islamic banking products, including legal and
compliance risks, increase the overall operational risk of Islamic banks compared to conventional
banks. Download Free PDF View PDF See Full PDF Download PDF Loading Preview Sorry,
preview is currently unavailable. Risk taking behaviour entails many complex issues that need to be
better understood in order to be successfully addressed. For a conventional bank, the liability side
includes demand and savings deposits, term certificates, and capital. Topics concern over the past
years. 4.?Content analysis of Islamic FinTech publications This section is divided into two sections.
Clearly, there remains great potential in this area of research. Regression was carried out to measure
the association between the project variables which are measured by interval scales. In addition,
Mohd Nor et al. (2021) stated that the usage of blockchain technology could be improved by
socializing and educating the community regarding the significant advantages and convenience of
utilizing blockchain on Islamic social finance such as zakat. The indicator of equitable development
was the dominant indicator in the aspect of Iqamat al-Adl (building justice) and did not affect ROA;
however, equitable and functional distribution of murab. Islam is the world's largest religion. B.
Islam is the world's second largest religion. C. Islam is the world's third largest religion. 13. Where
did Islam begin? A. And what is the optimal regulatory framework in dual banking systems, where
both Islamic and conventional banks co-exist. Moreover, the results also indicate that focusing on
increasing a customer’s satisfaction also enhances customers’ loyalty to the Islamic bank. However,
global Islamic banking can no longer claim to be superior to conventional banking in all the stability
dimensions. Similarly, the Islamic financial system is not limited to banking, but covers financial
instruments, financial markets, and all types of financial intermediation. Table 2 Financial
technology. 4.1.2. Stream 2: Islamic FinTech and distributed ledger technology This stream consists
of 33 studies and is divided into two sub-streams: Cryptocurrency (25 articles) and Blockchain (8
articles). In a nutshell, the findings of these studies agree that Islamic crowdfunding contributes
substantially to escalating business performance in various fields of business. The primary purpose of
this survey is to provide a comprehensive review of the empirical literature on Islamic banking.
Hassan (2015) suggests the possibility of including poor Muslims in mainstream financial services
through innovative approaches.
Download Free PDF View PDF The Prospect of Sharia Banking in Indonesia (Opportunities,
Challenges and Solutions) Faizi Zaini Download Free PDF View PDF AKRUAL: Jurnal Akuntansi
Comparative Analysis of The Performance of Sharia Banks and Conventional Banks in Indonesia
HENDRA HENDRA This paper examines the comparative performance of sharia banks and
conventional banks for the period 2010-2020. Four statements measure the objectives of Islamic
banking (OB), which refers to the Islamic bank providing banking services based on the Sharia. For
example, Sorwar et al. ( 2016 ) suggest that the prohibition against using derivatives means Islamic
banks cannot manage or hedge against risk effectively. You will then receive an e-mail
acknowledgement that your order has been sent to the Continuing Professional Development
(“CPD”) Department. According to Hussain, Shahmoradi, and Turk ( 2015, p. 9), “Such transactions
were originally allowed to meet the financing needs of small farmers as they were unable to yield
adequate returns until several periods after the initial investment.” To be Sharia -compliant, payment
under these contracts must be made in full at the beginning of the contract period. Alandejani,
Kutan, and Samargandi ( 2017 ) complement this evidence by including the impact of the GFC.
Besides, Mensi et al. (2020) analyzed bitcoins' co-movement and risk structure with the Islamic
equity and bond market and provided mixed results. To complete your order you can either enter
your credit card details directly onto our secure Checkout page or choose any of the other options.
His current research focuses on state ownership, corporate governance, and corporate cash holdings.
Demirguc-Kunt, A., Klapper, L., Randall, D.: Islamic Finance and Financial Inclusion: Measuring
Use of and Demand for Formal Financial Services among Muslim Adults. There are some causes of
sharia banking weakness such as of Information Technology that still behind of conventional
banking, competency, and experience of human resources and the consciousness of the Muslim
community to use sharia banking products for their primary financial transaction. The study also
provides valuable guidance to those charged with governance on Sharia compliance’s role in
increasing a customer’s satisfaction and loyalty at Islamic banks located within an emergent South
African market. Furthermore, Australia, China, Pakistan, South Korea, the United Kingdom, and
Vietnam were found in cluster blue. To achieve the research objectives, survey questionnaires were
administered fifty respondents including both practitioners and academics and the data were
analysed using simple percentages. Lastly, the green cluster analysis of the technology acceptance of
FinTech in SMEs. The second section explains the research gap and future research recommendations
to answer the RO4. 4.1. Content analysis 4.1.1. stream 1: financial technology. For this to happen,
however, a significant hurdle in terms of data compilation needs to be overcome. The findings
revealed that even though customers may be more inclined to use Islamic banks, if conventional
banks offered competitive or more appealing rates, they would opt to use the services of the
conventional banks. As only a limited number of constructs were considered in this study, further
research should be conducted to determine what other factors contribute to the satisfaction and
loyalty of Islamic bank customers in South Africa. Other recent survey papers include Alzahrani and
Megginson ( 2017 ) and Narayan and Phan (2019). The findings of the study show that there are
greater opportunities for Islamic finance in Nigeria in terms of the constitutional backing, market
size, willingness of Nigerians to patronize and the ability of tis products and services to encourage
economic diversification and financial inclusion. Read for free FAQ and support Language (EN)
Sign in Skip carousel Carousel Previous Carousel Next What is Everand. Most of the studies
reviewed showed that Attitude, subjective norms and perceived behavioral control positively and
significantly influence the use of Islamic banking products.. Factors Influencing the Adoption of
Islamic Banking Products. The search criterion is confined to empirical studies that examined the
transmission of interest-based monetary policy through Islamic banks' financing, particularly
empirical studies that check the existence of an Islamic bank financing channel of conventional
monetary policy. Since Islamic equity crowdfunding is based on the mudharabah model, it is a matter
of concern whether the profit distribution mechanism follows the law of the country. Define Qiyas.
Describe the role of the Hadith within Islam. A total of 173 respondents located within South Africa
participated in the study. Video Say more by seamlessly including video within your publication. The
mechanisms of enhanced monitoring by investment accountholders in profit-and-loss-sharing
contracts, for example, could lead to better earnings quality in Islamic banks. Sa'ad et al. (2019)
proposed a model and argued that the MSC model is innovative and provides equal benefits for the
parties: business owners, investors, and P2P companies.
The variables used are: (1) overhead cost and cost income ratio as efficiency proxy; (2) the
nonperforming loan is a proxy of asset quality; and (3) return on assets and Z score are proxy of
stability. Baber (2020a), Kannaiah et al. (2017), and Abubecker et al. (2019) support these findings,
one being that the Muslims in Non-Muslim countries are financially excluded and are not able to get
valuable financial services due to their religious beliefs. Overall, they find that deposit insurance
reform resulted in greater market discipline in the Turkish Islamic banking sector, most likely due to
increased competition among Islamic banks. The bibliometrics analysis is used in this study to answer
the RO1 and RO2, whereas SLR-PRISMA is adopted to address the RO3 and RO4. They find no
significant differences in insolvency risk or stability, and suggest this is because Islamic banks
mostly apply non-profit-and-loss-sharing contracts, which are technically similar to conventional
bank practices. Nevertheless, instances of violations persist, including, breaches of the minimum
lending limit (BMPK), granting credit without a thorough feasibility study process, and non-
compliance with liquidity reserve regulations. The paper discusses scholars' concerns that have led to
a paradigm shift in the system and highlight practitioners' disquiet about recent practices. The paper
employed the literature review methodology to synthesize research findings in the study area. It also
includes a full answer key and brief chapter summaries, as well as learning objectives. All aim to
create a more equitable financial system that has a positive tangible impact on the economy and
population.” A recent study on corporate social responsibility (CSR) disclosures of Islamic banks
provides interesting insights. The shariah compliance of bitcoin and cryptocurrency still has become
a debate amongst Islamic scholars and stakeholders (M. K. Hassan, Karim, et al., 2020 ). Aloui et al.
(2021) found that Islamic cryptocurrencies positively correlate with yellow metal. Islamic Bank and
Albaraka Bank are considered the first official Islamic banks to enter the South African market after
each bank was awarded banking licenses in 1989. The prototype of Islamic banking in South Africa
can be traced back to as early as 1975, owing to the incorporation of Jaame Limited, a financial
company offering Shari?ah-compliant products and services. Table 3 Islamic FinTech and distributed
ledger technology. You can download the paper by clicking the button above. There are 41% adults
with the contribution in the financial system in OIC countries as compared to the 92% in the high-
income countries. Please expect to receive email communications from our team about this. We
conclude the paper in section 5. 2.?Review methodology 2.1. methodology and study framework.
The ethical framework should serve as the true differentiator of their practice from conventional
finance. Methode - This desk research was based on many relevant studies advanced in the literature.
The study uses various methods such as bibliometric analysis, content analysis and SLR to provide a
Quanti-qualitative perspective of Islamic FinTech research development. In this chapter, we provide
an overview and assessment of the practice of Islamic banking around the world. Section 12.2
provides a brief review of the growth of Islamic banking. On the other hand, the existing studies on
the FinTech stream mainly discussed quantitative methods based on secondary or primary data. This
puts an additional burden on Islamic banks in terms of appraising and assessing which projects to
finance. To browse Academia.edu and the wider internet faster and more securely, please take a few
seconds to upgrade your browser. In a similar vein, Saiti, Afghan, et al. (2018) suggested Salam-
based crowdfunding for the agriculture industry to have access to funds. The Surah s can be divided
into three time periods. More specifically, on the liability side of an Islamic bank’s balance sheet, we
find demand deposits and (risk-free) investment accounts from customers. On the equity side,
Islamic banks offer Mudaraba (silent partnership) and Musharaka (joint partnership) contracts. This
research was conducted at sharia banks and conventional banks in the period 2010-2020 and used
secondary data.