The Reality of Digital Islamic Finance in the Era of Islamic Fintech (A Presentation of International Platform Models)

Abstract

Islamic financial technology (FinTech) is among the most important contemporary topics of interest globally and in the Arab world. The research problem lies in how to balance the rapid technological innovation in the financial sector with strict adherence to Sharia principles, while also identifying the challenges hindering the complete digital transformation of Islamic financial institutions. The research aims to establish the foundations of Islamic FinTech concepts, analyze its global reality and growth prospects up to 2028, and review practical models of leading international platforms in this field. The study adopted a descriptive-analytical approach to define concepts and analyze global statistical reports, and a case study approach to analyze platform performance. The research concluded that the Islamic FinTech market is experiencing a compound annual growth rate of 13.6%, and that digital success depends on three pillars: the Sharia environment, the regulatory framework, and the technology. The study also revealed that the Kingdom of Saudi Arabia is leading the global scene in this sector.