Abstract

Fintech, which stands for financial technology, describes how modern technologies become integrated into financial services. The system delivers rapid transaction processing which meets investor demands for both increased security and operational efficiency. The worldwide growth of fintech has been driven by rising demand for financial products that are both low-cost and easy to use through mobile devices. The Islamic fintech sector has developed into an effective financial model that operates according to Shariah-compliant ethical standards. The system competes with other international financial systems through its distinctive attributes of transparency and operational transparency and its ability to reach a wider audience. Digital currencies have progressed from their experimental phase to their current state which demonstrates full operational capability. The technological curiosity which existed in the past has transformed into a major financial innovation that will change monetary systems during the next few years. Bitcoin and other cryptocurrencies have developed into trillion-dollar markets as the former digital assets evolved into mainstream financial instruments. People now use them to buy products and services because they have become popular for both investment and purchasing things. The divided regulatory approaches exist alongside the industry expansion. Several Islamic countries continue to restrict or prohibit cryptocurrencies as substitutes for fiat money. The system issues fiat currencies through central banks while cryptocurrencies emerge from decentralized systems or unknown sources which makes it hard to establish their legitimacy under Islamic law Islamic finance has developed through multiple stages which now enable it to function under current global economic conditions while still observing Shariah requirements. The research examines Islamic finance as it developed through different historical periods until it reached its present status of emerging but developed financial industry. The study investigates the difficulties and discussions that arise when Islamic finance attempts to incorporate cryptocurrencies into its system and into the wider financial market. Responsible development and use of blockchain technology in Nigeria.

Keywords: Sustainable Development Goals (SDGs), Islamic banking, Islamic finance, Social banking, Corporate Social Responsibility (CSR), Charity Bank