The Role of Sharia Fintech in the Transformation of Islamic Financial Markets
Keywords:
Islamic Fintech; Islamic Financial Market; Digital Transformation; Financial Inclusion; Sharia ComplianceAbstract
The rapid advancement of digital technology has reshaped Islamic financial markets through the emergence of Islamic financial technology (fintech). This study aims to examine the development and research orientation of Islamic fintech by systematically mapping dominant themes, trends, and research gaps in the literature. The study applies a Systematic Literature Review combined with bibliometric analysis using VOSviewer, based on 50 peer-reviewed articles published between 2020 and 2025 and indexed in reputable academic databases, including Scopus, Web of Science, DOAJ, and SINTA. The results indicate that Islamic fintech has become a central theme in discussions of market efficiency, transparency, financial inclusion, and Sharia compliant innovation. Technologies such as digital payments, blockchain, artificial intelligence, and smart contracts are frequently identified as key drivers of digital transformation in Islamic banking, Islamic capital markets, and Islamic social finance. Nevertheless, the analysis also highlights persistent challenges related to regulatory readiness, governance frameworks, and the effectiveness of Sharia compliance mechanisms. This study contributes to the literature by providing a structured bibliometric overview of Islamic fintech research and identifying underexplored areas, particularly digital Sharia governance and Islamic regtech. The findings offer relevant insights for academics, regulators, and practitioners seeking to develop a sustainable and Sharia-compliant Islamic financial ecosystem in the digital era.
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