Accelerating Risk Sharing Finance via FinTech: NextGen Islamic Finance

From New York and San Francisco to London, Dubai, Singapore and beyond, the emergence of financial technology (FinTech) start-ups promises a change in the face of finance as we know it. The purpose of this paper is to provide a view on how FinTech can accelerate the adoption of risk sharing Islamic finance. It does so by first explaining today’s business buzzword. The paper then considers the Islamic view of finance as support for real sector transactions through risk sharing and suggests a way forward to modelling a more globally and intrinsically viable Islamic financial system.