Virtually Islamic Blog

Gary R. Bunt

Islamic Fintech

NST, PM: Islamic banking players must invest in technologies

"Islamic banking and finance players must be intensely invested in technologies to transform the way they conduct banking services and disseminate their products more effectively and efficiently.
"In making the call, Prime Minister Tun Dr Mahathir Mohamad said the application of smart technology within the financial industry — financial technology (fintech) — has positively disrupted the industry, as well as other industries such as mobile payments, money transfers, loans, fundraising and asset management."
This is certainly very important issue, as highlighted by the Malaysian PM. There's a lot more research that needs to be undertaken. This includes the ethical and religious dimensions of technology, as structured within a financial context. I believe there is scope for substantial work in this field.

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