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How blockchain is making its way into Islamic finance
Blockchain technologies have come into focus as Islamic finance adapts to disruptive innovation in financial services. With assets in Islamic finance forecast to top $6.7 trillion by 2027, blockchain technologies are being adopted to modernise Shariah compliance, despite some challenges that have sparked debate amidst scholars. According to a Moody’s Investors Service report, embedded smart contracts, updated and transparent management of obligatory charitable giving (zakat) and a more efficient platform for Sukuk issuance, the Islamic equivalent of bond-like securities, have blockchain features that align well ... (full story)