The integration of technology into Islamic finance is a topic of growing interest, with a focus on promoting inclusive and progressive financial systems. Malaysia, for example, is actively developing its Islamic fintech and digital economy sectors to support the demand for Islamic finance. The use of technology, such as blockchain, is being considered to enhance the inclusivity and progressiveness of Islamic finance. However, the transition from conventional to Islamic banking systems presents operational challenges, and the industry is still working on standardizing Islamic financial instruments. Despite the rapid expansion of Islamic finance, there are ongoing debates about its efficiency and the need for further progress in all areas of Islamic finance. The role of Islamic banking in the digital economy is also a subject of discussion, with a focus on leveraging information technologies to support the growth of Islamic financial services.
This book provides relevant theoretical frameworks and the latest empirical research findings in the area to promote inclusive and sustainable financial systems aligned with Islamic principles and to support the achievement of the Sustainable Development Goals (SDGs). This involves enhancing the efficiency, accessibility, and impact of Islamic finance through the integration of technology, standardizing Islamic financial instruments, and increasing awareness among various stakeholders. It will be written for professionals who want to improve their understanding of the strategic role on catalyzing technology towards progressive Islamic Finance. Through this book, efforts must be made to strengthen cooperation between Islamic finance institutions and to facilitate the growth of Islamic finance on a global scale.