Open AccessREGULATORY FRAMEWORK AND LEGAL CHALLENGES IN DIGITALIZATION OF ISLAMIC FINANCE
Author(s) -
Nor ‘Adha Ab Hamid,
Ahmad Yani Ismail,
Tuan Nurhafiza Raja Abdul Aziz
Publication year - 2021
Publication title -
international journal of law, government and communication
Language(s) - English
Resource type - Journals
ISSN - 0128-1763
DOI - 10.35631/ijlgc.624004
Subject(s) - islamic finance , dual (grammatical number) , islam , financial services , business , islamic banking , finance , political science , art , philosophy , theology , literature
This article analyses regulatory and legal challenges that may subsist in Malaysia’s Islamic Finance digitalization moves. The country’s finance industry regulators have been proactive in digitalizing the dual finance industry. The regulators have announced relevant frameworks since 2016 to support and spur digitalization development. This investigation employs a qualitative research method to achieve the objective. Despite bold initiatives, the authors argued the issues require comprehensive attention by the regulatory authorities. Past researchers have identified the issues. In this research, the authors expand the discussions on the identified issues.