scholarly journals Assessment of the Competitiveness of Islamic Fintech Implementation: A Composite Indicator for Cross-Country Analysis

2021 ◽  
Vol 14 (12) ◽  
pp. 602
Author(s):  
Sofya Glavina ◽  
Irina Aidrus ◽  
Anna Trusova
Keyword(s):  
Financial Services ◽  
Driving Forces ◽  
Composite Indicator ◽  
Competitive Advantages ◽  
Key Factors ◽  
Financial Industry ◽  
Investment Opportunities ◽  
Country Analysis ◽  
Development Goals ◽  
Cross Country

Islamic fintech is growing fast, especially in the Organisation of Islamic Cooperation (OOIC) member countries. In recent years, it has become one of the driving forces for the Islamic financial industry. Though the pandemic negatively affected global financial business, including conventional and Islamic segments, Islamic fintech has continued its steady development. i-Fintech increases access to Islamic financial services and financial inclusion in general to provide ESG-rich investment opportunities. The rise of Islamic fintech can help countries become financial hubs and promote sustainable development goals. This paper is aimed at designing an original composite indicator of the competitiveness of Islamic fintech adoption in order to perform a comprehensive assessment of the competitive advantages that are being used across various countries. The research methodology includes data for 65 countries where Islamic fintech companies are represented. We analysed 31 variables describing the development of Islamic financial technologies in each country and combined them into five categories included in the composite indicator. Key factors that determine the development of Islamic financial technologies in different countries around the globe are singled out. The economies with the highest scores are analysed to define their strengths and weaknesses. The practices of the leading countries that address identified vulnerabilities are described.

scholarly journals ERA FINTECH: PELUANG DAN TANTANGAN BAGI EKONOMI SYARIAH

2019 ◽  
Vol 7 (2) ◽  
pp. 316-336
Author(s):  
Rokhmat Subagiyo
Keyword(s):  
Human Behavior ◽  
Digital Technology ◽  
Financial Services ◽  
Industrial Revolution ◽  
Financial Industry ◽  
Investment Opportunities

Changes in digital technology occur very quickly because of the industrial revolution 4.0. Human behavior has changed in accessing financial services or FinTech. Modern online businesses replace traditional businesses. Indonesia as one of the prima donna to develop FinTech. The Islamic financial industry is more stable and stronger to survive than the conventional financial industry. FinTech sharia opportunities are still wide open because it provides solutions for needs that cannot be served by conventional financial services. The results of the study include: (1) FinTech Sharia is able to realize the transparency of financial activities; (2) creating opportunities for customers both households and businesses to access sharia financial services; (3) providing sharia investment opportunities; (4) fintech has the potential to pose risks to consumers. Recommendation given: Islamic economics is important to answer the challenges of FinTech by issuing products or policies that are in accordance with the development of FinTech and Islamic principles.

Financial Inclusion

2020 ◽  
pp. 149-165
Author(s):  
Dian Agustia ◽  
Nadia Anridho
Keyword(s):  
Sustainable Development ◽  
Financial Services ◽  
Low Cost ◽  
Financial Inclusion ◽  
Low Risk ◽  
Easy Access ◽  
Financial Industry ◽  
Development Goals ◽  
Low Costs

Financial inclusion is a term that is used to describe easy access of financial products and services for everyone. G20 countries, including Indonesia, show high commitment to accelerate financial inclusion. Financial inclusion also facilitates the achievement of 17 Sustainable Development Goals. Fintech or digital financial technology is one of the most recent innovations in financial industry. It has grown at a rapid speed in the recent years. Fintech provides products and services with low costs, better quality, and stable financial landscape. With its flexibility and simplicity, Fintech may facilitate the offering of financial services to people who are “unbanked,” or to small business at low cost and low risk. Hence, this chapter thoroughly discusses FinTech's role in supporting financial inclusion in Indonesia. Indonesia is one of the G20 countries that is committed to conduct financial inclusion. Specifically, this chapter elaborates financial inclusion, Fintech in Indonesia, and role of Fintech in supporting financial inclusion in Indonesia.

Trends and forecasts of the global availability of food

2020 ◽  
Vol 16 (7) ◽  
pp. 1297-1316
Author(s):  
O.N. Terent'eva
Keyword(s):  
High Risk ◽  
Growth Rates ◽  
Statistical Data ◽  
Economic Security ◽  
Agricultural Products ◽  
Mortality And Morbidity ◽  
National Economic ◽  
Production Growth ◽  
Country Analysis ◽  
Cross Country

Subject. The stable supply of food to people is a cornerstone for the national economic security, while a lack of food or its expensiveness may undermine the economy, principles of power, and cause panics and wars. Malnutrition and hunger are critical indicators of the insufficient foods supply. Objectives. The article indicates which countries have high risk of hunger, and predicts its further movement. I also evaluate factual trends in the availability of food across countries. Methods. The study refers to statistical data in public domain, including the FAOSTAT. I apply methods of ranking, abstraction, prediction. Results. I performed the cross-country analysis and discovered that 117 countries demonstrated signs of malnutrition. The article sets forth a technique for splitting countries into five groups by level of hunger risk. The article compares data on hunger in the countries and consequences of mortality and morbidity. I ranked countries by key types of agricultural products and explained their production growth rates for a span of 18 years. I predicted how countries would be ranked in terms of hunger from 2030 to 2050, and found the extent to which the hunger risk will escalate in more flourishing countries. Conclusions and Relevance. Hunger and shortage of food seem invincible in the countries where people are hungry or very hungry. Sometimes it appears almost impossible for respective governments to solve the issue. Triggering the systemic hunger, such factors and premises are beyond control of starving countries. Hence, the international community should provide their support and aid to them.

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