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Proceedings of the 4th International Conference on Business, Accounting, and Economics, ICBAE 2024, 14-15 August 2024, Purwokerto, Indonesia

Research Article

Shariah Fintech to Support Ethical and Sustainable Economic Development

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  • @INPROCEEDINGS{10.4108/eai.14-8-2024.2351732,
        author={Andi  Jam‘an and Asdar  Asdar and Dimas Ari Nugraha},
        title={ Shariah Fintech to Support Ethical and Sustainable Economic Development},
        proceedings={Proceedings of the 4th International Conference on Business, Accounting, and Economics, ICBAE 2024, 14-15 August 2024, Purwokerto, Indonesia},
        publisher={EAI},
        proceedings_a={ICBAE},
        year={2024},
        month={11},
        keywords={shariah fintech financial inclusion shariah principles sustainable economy financial ethics},
        doi={10.4108/eai.14-8-2024.2351732}
    }
    
  • Andi Jam‘an
    Asdar Asdar
    Dimas Ari Nugraha
    Year: 2024
    Shariah Fintech to Support Ethical and Sustainable Economic Development
    ICBAE
    EAI
    DOI: 10.4108/eai.14-8-2024.2351732
Andi Jam‘an1,*, Asdar Asdar1, Dimas Ari Nugraha1
  • 1: Universitas Muhammadiyah Makassar
*Contact email: andijaman2023@gmail.com

Abstract

Shariah Fintech has emerged as a financial innovation that integrates modern technology with Islamic principles, providing financial services aligned with Shariah law and supporting ethical and sustainable economic development. This study highlights the significant role of Shariah Fintech in enhancing financial inclusion and offering more equitable access to financial services for Muslim communities. By adhering to principles such as the prohibition of riba (interest), gharar (uncertainty), and maysir (speculation), Shariah Fintech ensures that transactions and investments are conducted in a transparent and fair manner. Additionally, Shariah Fintech supports environmentally friendly and sustainable projects, contributing to economic development that not only focuses on growth but also on social and environmental well-being. However, challenges in implementation and compliance with Shariah principles persist, necessitating strict supervision to maintain the sector's integrity. This article also discusses the importance of developing business models that balance modern economic needs with deep moral values, and the potential of Shariah Fintech in setting new global standards for sustainable and ethical business practices.

Keywords
shariah fintech financial inclusion shariah principles sustainable economy financial ethics
Published
2024-11-26
Publisher
EAI
http://dx.doi.org/10.4108/eai.14-8-2024.2351732
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