Beyond Fintech

Beyond Fintech: Technology Applications for the Islamic Economy is a follow-up to the first-ever Islamic Fintech book by the author (published in 2018) that provided linkages between Islamic Finance and disruptive technologies like the blockchain. In the wake of fintech as a new trend in financial markets, the ground-breaking book stressed the relevance of Islamic finance and its implications, when enabled by fintech, towards the development of the Islamic digital economy. While the earlier work discussed the crucial innovation, structural, and institutional development for financial technologies in Islamic Finance, this new research explores the multiple applications possible in the various sectors of the economy, within and beyond finance, that can be significantly transformed. These revolutionary applications involve the integration of AI, blockchain, data analytics, and Internet-of-Things (IoT) devices for a holistic solution to tackle the bottlenecks and other issues in existing processes of traditional systems. The principles of accountability, duty, justice, and transparency are the foundation of shaping the framework in achieving good governance in all institutions — public or private, Islamic or otherwise. Technologies like AI, blockchain, and IoT devices can operationalize the transparency and accountability that is required to eradicate poverty, distribute wealth, enhance micro-, small- and large-scale initiatives for social and economic development, and thus share prosperity for a moral system that enables a more secure and sustainable economy.Contents: Introduction AI-Driven and Blockchain-Based Islamic Capital Markets Digital Sukuk Issuance for Business Financing Advancing Islamic Asset and Wealth Management Digitalized Takāful Claims Processing Medical Records-Keeping and Healthcare Rethinking the Halal Supply Chain Management Smart Manufacturing and the Factory of the Future Central Bank Digital Currencies and Its Practical Adoption Modernizing Fara'id, Waqf and Zakat Enhancing Legal and Regulatory Framework for Digital Transformation Managing Regulatory Change for Financial Institutions Readership: Innovation-minded Islamic Economics and Finance specialists. Fund managers and financial product developers working with Islamic investments. Textbook for MBA students, post-graduates, undergraduates and members of innovation and entrepreneurship centers.Ethics and Technology;Digital Transformation;Regional Development;Customer Behaviour;Evolution of FinTech;Global Landscape;Payments;Asset under Management;InsurTech;Investments;Cloud Computing;Big Data Analytics;Blockchain;Internet of Things (IoT);Robo Advisors;Artificial Intelligence;Machine Learning;Islamic Finance;Endowment;Intellectual Property;Fraud Detection;Risk Mitigation;Cost-Effective;Increased Productivity;Immutable;Know Your Client (KYC);Media Rights;Coordination ;Efficiency;Consensus-building;Agility;Scalability;Innovation;Cybersecurity;Collaboration;Venture Capital;Enterprise Solutions;Era of Digitization;Digital Ecosystem;Disruptive Models;Market Insights;Predictive Analytics;Insurance;Takaful;Capital Markets;Distributed Ledgers (DLT);Wealth Management;Islamic Markets;Sharing Economy;Trust Mechanism;Open Platforms;Web and Mobile;Cloud Computing;Trades and Settlements;Regulatory Controls;User Defined;Institutional Economics;Cryptocurrency (Tokens);Public Registries;Smart Contracts;Securities Clearing;Automation;Enforceability;Claims Processing0Key Features: A practical book which explains concepts and follows through on applications, in the disruptive technologies for fintech, including the fusion of AI, big data, blockchain and IoT Provide insights into technology applications which will enable and enhance modern economic transactions according to Islamic values Relevant use cases such as asset and portfolio management, digitalized capital market system, enhanced insurance claims processing, and a fully traceable supply chain system