Technological Innovation in Islamic Finance: A Historical and Contemporary Review

Authors

  • Syamsuri Universitas Darussalam Gontor
  • Hardiyan Saputra Universitas Darussalam Gontor
  • Sultan Nanta Setia Dien Labolo Universitas Darussalam Gontor

Keywords:

Inovasi Teknologi, Keuangan Islam, Pembangunan berkelanjutan

Abstract

The growth of information technology has created a new paradigm in the financial sector, including Islamic finance. Although the literature on Islamic finance continues to grow, there is still a knowledge gap in terms of how technological innovations have shaped and changed the practice of Islamic finance. Therefore, the main objective of this study is to fill that knowledge gap by providing a comprehensive overview of how technology has influenced Islamic finance. Using a qualitative approach with a library research method, this study investigates historical and contemporary literature relating to technological innovation in the context of Islamic finance. The results show a significant transformation in the practice of Islamic finance in response to technological advances, with a paradigm shift from traditional practices towards more modern and efficient financial models because Islam is a religion of rahmatan li-l aalamiin that has principles and values that do not change throughout the ages, there are just some changes that adjust to current technological advances. The conclusion of this study is that technological innovation has become a key factor in directing the development of Islamic finance, which continues to adapt to technology to meet the demands of society and make a positive contribution to sustainable development. The practical implication of this research is to provide guidance for Islamic financial institutions to optimize the benefits of technology to achieve sustainable financial goals.

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Published

2023-12-13

Issue

2023: Proceedings of International Conference On Islamic Comunity Studies

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Articles

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