The Islamic fintech potential and role in the post COVID-19 era

Abstract EN

The Corona virus (COVID-19) pandemic has significantly destabilized the financial world and caused economic disruptions on an unprecedented scale and speed.

the current study's aim is to look into the potential and the role of the Islamic finch system in post COVID-19 recovery.

the Islamic finance system's underlying ethical principles make it way more qualified and poised to confront the economic repercussions of a pandemic like COVID-19.

there has been limited discussions about fintech, Shari'ah compliance fintech and post COVID-19.

therefore, this study is based on the analysis and extraction of information from databases utilizing the Stechemesser and Gunther literature review process.

the results of the study suggest that the COVID-19 pandemic has created an opportunity for open and inclusive socioeconomic innovation to provide the globe with a sustainable, rapid, reliable, and feasible alternative.

the research also, presents a critical analysis of the Islamic fintech and the role of Islamic fintech in creating a more sustainable financial system post COVID.

this paper has significant practical and theoretical implications for Islamic financial institutions, allowing regulators and policymakers to address the impacts of the COVID-19 disaster.

the results of this study are expected to add the literature of Islamic fintech.