While technology is proving to be a major disruptor of the global business and economy, Islamic business and finance is not untouched by this development. Countries that have embarked on a strategy that would ensure a growing share of the financial pie for Islamic business and financial service providers, are keen to create an enabling environment for technology applications in the halal ecosystem including the Islamic financial services sector. The introduction of cutting-edge technology brings in its own Shariah issues and challenges that need to be resolved.
This course aims to provide the participants with a comprehensive understanding of the digital economy landscape across the globe, focusing on the predominantly Muslim societies. It seeks to introduce block chain and other cutting-edge technologies in a non-technical manner as also the basic building blocks of IBFTech, such as, platforms, crypto assets, tokens and digital identities. It discusses various use cases of IBFTech in the halal supply chain as well as in the for-profit and not-for-profit segments of Islamic finance. It highlights the key Shariah issues and regulatory concerns and undertakes a discussion of sample IBFTech regulations that capture these concerns.