Globalizing Islamic Philanthropy with Fintech – II

The idea of Islamic fintech has been gaining traction not only among the Islamic finance professionals, but also among the researchers and the academia. The Third Annual Islamic Finance Conference held in Makassar, Indonesia this week chose fintech as its theme, where scholars unanimously agreed that harnessing fintech will have a positive impact on the…

Globalizing Islamic Philanthropy with Fintech – I

Islamic philanthropy has customarily lacked a global character. Traditional Islamic scholarship discourages inter-country or inter-regional flow of zakat funds. From a Shariah point of view, the following well-known hadith forms the basis of such priority: ‏ “‏ ادْعُهُمْ إِلَى شَهَادَةِ أَنْ لاَ إِلَهَ إِلاَّ اللَّهُ، وَأَنِّي رَسُولُ اللَّهِ، فَإِنْ هُمْ أَطَاعُوا لِذَلِكَ فَأَعْلِمْهُمْ أَنَّ اللَّهَ قَدِ…