The Science Approach in Islamic Economics: Integration between Science and Islamic Economic Principles

The application of sharia fintech in the Islamic economy has great potential to increase financial inclusion and provide fairer access to financial services in accordance with sharia principles. However, the implementation of sharia fintech faces various challenges, especially related to inconsistent regulations, limited digital infrastructure, and low digital literacy among the public. Clear and consistent regulations, improved digital infrastructure, and better education on digital literacy and Islamic finance are important steps to overcome these challenges. Collaboration between Muslim-majority countries is also needed to build global standards that are widely accepted and applied in the world of Islamic fintech. With proper implementation, sharia fintech can contribute significantly to creating a more inclusive, transparent, and fair economic system for the global community.

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Publication Details

Journal
Formosa Journal of Applied Sciences
Published
2025-06-24
DOI
https://doi.org/10.55927/fjas.v4i6.174
Primary Topic
Islamic Finance and Banking Studies
Type
article
Field-Weighted Citation Impact
0.00
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article

The Science Approach in Islamic Economics: Integration between Science and Islamic Economic Principles

Irwan Misbach, Nurdiana Nurdiana, Rahmawati Umar
2 links
Formosa Journal of Applied Sciences
Islamic Finance and Banking Studies
article

The Science Approach in Islamic Economics: Integration between Science and Islamic Economic Principles

Irwan Misbach, Nurdiana Nurdiana, Rahmawati Umar
article en

Abstract

The application of sharia fintech in the Islamic economy has great potential to increase financial inclusion and provide fairer access to financial services in accordance with sharia principles. However, the implementation of sharia fintech faces various challenges, especially related to inconsistent regulations, limited digital infrastructure, and low digital literacy among the public. Clear and consistent regulations, improved digital infrastructure, and better education on digital literacy and Islamic finance are important steps to overcome these challenges. Collaboration between Muslim-majority countries is also needed to build global standards that are widely accepted and applied in the world of Islamic fintech. With proper implementation, sharia fintech can contribute significantly to creating a more inclusive, transparent, and fair economic system for the global community.

Formosa Journal of Applied SciencesVol. 4(6)
Universitas DIPA Makassar, State University of Makassar (ID)
Quality Education
Openalex Percentile: Top 70%
Islamic Finance and Banking Studies
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The Science Approach in Islamic Economics: Integration between Science and Islamic Economic Principles — Irwan Misbach, Nurdiana Nurdiana, et al. · Formosa Journal of Applied Sciences (2025) | TGRS Research Map | TGRS