The roles of Islamic financial technology (FINTECH) in fostering financial inclusion in Malaysia / Nurul’ain Mohd ... [et al.]

Mohd, Nurul’ain and Razali, Mastura and Yahaya, Muhammad Hasif and Baharuddin, Zainur Nadiyah (2024) The roles of Islamic financial technology (FINTECH) in fostering financial inclusion in Malaysia / Nurul’ain Mohd ... [et al.]. Management & Accounting Review (MAR), 23 (1): 11. pp. 329-356. ISSN 2550-1895

Abstract

The financial sector is undergoing a paradigm shift due to technological improvements. As a result of these technical breakthroughs, the financial industry has experienced a significant transformation, characterised by a growing reliance on technology and the emergence of several opportunities and barriers. Thus, by examining official reports and the central bank’s
website, the research aimed to analyse the roles played by Islamic fintech in promoting financial inclusion to gain a comprehensive understanding of fintech in Malaysia. The qualitative analytical approach employed in this study relies upon a wide range of sources, such as the Central Bank of Malaysia Financial Inclusion Framework 2023-2026, official papers on fintech, the Bank Negara Malaysia website, and pertinent journal articles. The findings indicated that the Islamic fintech sector in Malaysia has prioritised the empowerment of small and medium-sized firms, unbank population, marginalised communities, and vulnerable sectors to encourage financial inclusion in Malaysia. This approach is designed to stimulate economic growth and act as an intermediary for the progress of the digital economy through the provision of financial services accessibility.

Metadata

Item Type: Article
Creators:
Creators
Email / ID Num.
Mohd, Nurul’ain
UNSPECIFIED
Razali, Mastura
mastura458@uitm.edu. my
Yahaya, Muhammad Hasif
UNSPECIFIED
Baharuddin, Zainur Nadiyah
UNSPECIFIED
Subjects: H Social Sciences > HG Finance > Financial management. Business finance. Corporation finance
Divisions: Universiti Teknologi MARA, Shah Alam > Accounting Research Institute (ARI)
Journal or Publication Title: Management & Accounting Review (MAR)
UiTM Journal Collections: UiTM Journal > Management & Accounting Review (MAR)
ISSN: 2550-1895
Volume: 23
Number: 1
Page Range: pp. 329-356
Keywords: Financial Technology, Fintech, Islamic Fintech, Financial Inclusion, Digital Finance
Date: April 2024
URI: https://ir.uitm.edu.my/id/eprint/93605
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