Peer-to-peer financing in Islamic finance: an analysis of the musharakah model of Islamic fintech for SMEs financing in the state of Qatar

Adam Sa'ad, Auwal (2018) Peer-to-peer financing in Islamic finance: an analysis of the musharakah model of Islamic fintech for SMEs financing in the state of Qatar. In: Gulf Research Meeting University of Cambridge, 15th-18th July 2019, United Kingdom. (Unpublished)

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Abstract

Peer-to-peer financial services are increasingly becoming significant game changers in the financial sector across the globe. Initially, few structures were developed to help cater to the attention of the Islamic financial industry players involved in peer-to-peer dealings. The new trend of the technological evolution in the banking and financial sector has proved to be the next challenge in this sector. However, the survival of Islamic Fintech will heavily rely on the existing established trust within the sector. The potential collaborations between the established Islamic banks, Fintech players and start-ups will certainly unleash the potentials of today’s technologies in the Islamic finance industry. The paper proposes a Musharakah model using Musharakah Smart Contract in which the investors would be crediting their investments for Musharakah purposes with virtual business owners for specific Shari‘ah compliant businesses and share in the profit based on an agreed dividend under the Musharakah principles. It also highlights the potential structures, cyber risks, and devices to mitigate them by using Musharakah standards and measures within the Shari‘ah principles.

Item Type:	Conference or Workshop Item (Slide Presentation)
Additional Information:	8761/71706
Uncontrolled Keywords:	Peer-to-peer Financing, Islamic Fintech, Musharakah Model, the state of Qatar
Subjects:	H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Institute of Islamic Banking & Finance (IIiBF)
Depositing User:	DR. Auwal Adam Sa'ad
Date Deposited:	23 Apr 2019 09:10
Last Modified:	26 Nov 2019 12:55
URI:	http://irep.iium.edu.my/id/eprint/71706

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