CHALLENGES AND OPPORTUNITIES FOR DEVELOPING SHARIAH ECONOMY IN THE ERA OF DIGITALIZATION IN THE MODERN ERA
Keywords:
Islamic economy, digitalization, Islamic fintech, digital literacy, economic developmentAbstract
The development of digital technology has brought about major transformations in various sectors, including the sharia economy. In the era of digitalization, the sharia economy faces challenges as well as opportunities in creating a fair, inclusive, and sustainable financial system. This study aims to examine the main challenges faced in the development of a digital sharia economy, such as low digital literacy, suboptimal regulations, and tight competition with conventional finance. On the other hand, technological innovations such as sharia fintech, crowdfunding, and blockchain present great opportunities to increase the efficiency and reach of sharia financial services. This study uses a literature study method by analyzing various relevant literature. The results of the study show that collaborative strategies between countries, public education, strengthening digital infrastructure, and policy support are the keys to accelerating the growth of the sharia economy in the digital era. With the right approach, the sharia economy has great potential to make a positive contribution to social and economic welfare globally.
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