Islamic Finance, FinTech and the Road to Sustainability: Reframing the Approach in the Post-Pandemic Era—An Introduction

Abstract

The recent unprecedented economic downturn and global supply chain disruption caused by the COVID-19 pandemic have increased the urgency for agile, adaptable, and transformable financing infrastructure based on sustainable practises in the Fourth Industrial Revolution era. Sustainability and the Fourth Industrial Revolution are about more than just technological change; they are an opportunity to help everyone, including leaders, policymakers, and people of all income levels and nations, navigate industry disruptions and transition to a new normal by leveraging converging technologies to create an inclusive, human-centered future. The edited volume contains critical discussions on redefining Islamic finance's approach to sustainability and socioeconomic development in the post-pandemic era. It demonstrates how selected Islamic finance tools, in conjunction with FinTech, can not only ensure financial sustainability, but also promote socioeconomic policies that will aid in the creation of much-needed value and impact in the economy. Primarily, three main topics are examined through its 15 chapters: reframing Islamic finance for sustainability and socioeconomic development; innovative Islamic financial tools for long-term and socioeconomic impact; and the role of FinTech in the road to sustainability. The edited volume will be of interest to scholars, researchers, and students of Islamic finance, sustainability, and financial technology.