Financial Technology In Islamic Banks Reality and Challenges

Abstract

The study came to show the nature of financial technology in Islamic banks, its characteristics and advantages, and platforms for dealing in financial technology in Islamic banks. To study  financial technology in Islamic banks, the reality and challenges. The study reached several results, the most important of which is that financial technology is of great importance in financial inclusion in Islamic banks, as technology is based on the delivery of services to all parts of the world without differentiating between living classes or other social or economic conditions. And that  Islamic banks, despite their weak infrastructure and financial capabilities, have introduced financial technology into their work environment through the development of electronic windows without the need for traditional dealings. Smart applications such as mobile banking and others have been introduced into the core of financial dealings and without reference to traditional operations .A group of Islamic financial technology platforms has been established, which are compatible with the rules and controls of Islamic law, and the study concluded that the Arab world kept pace with the development in the field of technology, but keeping pace with the world is considered slow, and it must re-mobilize capabilities in order to keep pace with technological development, and there is a weakness In the Arab world, there is interest in financial technology companies, and one of the most important reasons for this is weakness in financial capabilities and infrastructure. From developing  electronic dealing platforms, re-deepening studies in encrypted digital currencies, revealing their nature, and finding legitimate solutions to deal with them in accordance with the rules and regulations of Islamic law.