Adaptability Of The Islamic Financial System To Modern Technological Innovations

• Authors: Zoriana Lutsyshyn , Alina Vorobiova

Abstracts

EN

The article highlights the essential characteristics of the Islamic financial system, its main components and dimensions, identifies ways and forms of adaptability of the Islamic financial system to modern technological innovations. The financing of the real sector of FinTech on the world's largest financial platforms is analyzed. FinTech tools have been identified that can be considered by Islamic finance experts. Opportunities and challenges in the application of FinTech technologies in Islamic finance are revealed. The P2P tools that have been introduced into the practice of Islamic finance are analyzed. The prospects of implementation of digital financial technologies by the Islamic financial system are proved. The mechanism of functioning of modern innovations in the financial sphere is defined and digital decisions of the Islamic banking sphere are analyzed.

Keywords

EN

Islamic finance; FinTech; P2P financing; crowdfunding; Islamic products and services; opportunities and challenges

• Publisher: Wyższa Szkoła Ekonomiczno-Humanistyczna w Bielsku-Białej
• Journal: MIND Journal
• Year: 2021
• Issue: 11

Dates

published

2021

Contributors

author

Zoriana Lutsyshyn

• University of Economics and Humanities, Bielsko-Biala, Poland
• Taras Shevchenko National University of Kyiv
• National Economic University named after Vadym Hetman, Kyiv, Ukraine

author

Alina Vorobiova

• National Economic University named after Vadym Hetman, Kyiv, Ukraine

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Identifiers

DOI

10.36228/MJ.11/2021.3

Biblioteka Nauki

2168402