Applying Blockchain in Islamic Finance
Feb 2022 · Hussein Elasrag
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This book contributes to the emerging literature on financial technology by discussing some of the innovative applications of blockchain in Islamic financial institutions. In addition, the book sheds light on the main opportunities and challenges facing application of Blockchain Technology in the Islamic financial industry and highlight the way forward to address these issues. Relying on the previous literature and analysis; this book confirms the enormous opportunities for utilizing blockchain technology in various Islamic financial applications such as Waqf, Zakat and Sukuk. On the other hand, the main challenges towards implementing blockchain in this industry are the complexity of Islamic finance products added to the opacity of its application which end up with unclear regulations and lack of standards.
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