Islamic fintech in Indonesia: Sharia compliance as a driver of competitive digital economy
Abstract
This study examines the development of Islamic fintech in Indonesia and its role in supporting the competitive advantage of the digital economy. One crucial aspect in supporting the digital economy is the establishment of Sharia compliance parameters. The study reveals that adherence to Sharia parameters not only ensures that fintech products and services align with Islamic principles but also enhances consumer and industry trust, thereby strengthening the competitive edge of Indonesia's digital economy. Utilizing a qualitative descriptive method, this research highlights that consistent implementation of Sharia compliance in the Islamic fintech industry can have a significantly positive impact, both on the industry’s growth and on the overall welfare of society. The results of this study are expected to contribute to the development of better policies and practices in the Islamic fintech sector and to enhance the understanding of its strategic role within Indonesia's digital economy ecosystem.
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Copyright (c) 2024 Amrullah Amrullah, Ketina Widiana, Afroh Hana Taqiya
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