Syariah-Compliant Fintech in Banking: Bridging Financial Gaps in Indonesia and the Philippines
Year: 2024
Type: article
Study design: Observational Study
Abstract: Purpose – This study aims to explore the role of Sharia-compliant Fintech in addressing financial and cultural gaps in Indonesia and the Philippines Method – Utilizing a mixed-methods approach, the research integrates qualitative interviews and focus group discussions with quantitative surveys analyzed using Structural Equation Modeling (SEM) Findings – The findings reveal that Indonesia’s advanced regulatory framework and market maturity enable robust adoption of Sharia-compliant Fintech, enhancing financial inclusion for underserved communities. In contrast, the Philippines, particularly the BARMM region, demonstrates untapped potential hindered by limited infrastructure and regulatory gaps. Practical implications – Practical implications include the need for policymakers to develop comprehensive regulations, financial institutions to build trust, and technology innovators to design culturally aligned solutions Originality/value – comparative analysis of Sharia-compliant Fintech adoption in two socio-religiously distinct countries, providing actionable insights for scaling culturally sensitive financial technologies across Southeast Asia
Institution: Institut Agama Islam Negeri Parepare
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4409393313