Digital Currencies: Opportunities in Islamic Finance
Proceeding
DOI: 10.21661/r-560136
Open Access
- Published in:
- II International Scientific and Practical Conference «Scientific and Educational Areas Under Modern Challenges»
- Authors:
- Glavina S. G. 1 , Asmiatullin R. R. 1
- Work direction:
- Экономика
- Rating:
- Article accesses:
- 656
- Published in:
- eLibrary.ru
1 FSAEI of HE «Peoples’ Friendship University of Russia»
- APA
For citation:
Glavina S. G., & Asmiatullin R. R. (2023). Digital Currencies: Opportunities in Islamic Finance. Scientific and Educational Areas Under Modern Challenges, 128-135. Чебоксары: SCC "Interactive plus", LLC. https://doi.org/10.21661/r-560136
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DOI: 10.21661/r-560136
Abstract
The article states that decentralization is one of the trends in the modern global finance market. The growth and active development of the Islamic finance and banking industry, the growth in the number of Muslims in the world and other factors determine the interest of researchers in digitalization issues. This paper is devoted to the study of the possibilities, approaches and views on the use of digital currencies from the point of view of Islamic finance. Methods of analysis and synthesis, comparative analysis is used. The approaches of various countries of the Muslim world to the introduction of digital currencies are analyzed, ongoing projects are considered. In the Islamic world, there has not yet been a consensus on the permissibility and scope of the possible use of digital currencies. The authors conclude that, in general, digital currencies can be harmoniously used within the concept of Islamic finance. This is facilitated by such factors as the transparency of decentralized finance and digital currencies, the contribution to the protection of the wealth of society, the focus on social benefits, which is in line with the good goals of Islamic finance and its social value.
Keywords
References
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