Document Type : Research Paper

Authors

• mohammad javad FADAEI ¹
• ali javan jafari ²
• Mustafa Sami Nasab ³

¹ Department of Development Economics, Faculty of Islamic Studies and Economics, Imam Sadegh University, Tehran, Iran

² Master's student in Islamic Studies and Economics, Faculty of Economics and Islamic Studies, Imam Sadegh University, Tehran, Iran

³ Assistant Professor, Department of Political Economy, Faculty of Economics and Islamic Studies, Imam Sadegh University, Tehran, Iran

Abstract

In today's world, economy and finance have always been a controversial topic. With the advancement of technology and changes in lifestyle, economy and financial affairs have also faced changes. The emergence of the fintech industry marked a tremendous change in banking and financial markets. The size of the global fintech market in 2022 has reached 133 billion dollars. In the meantime, the Islamic fintech index has been proposed as an important index in the financial and economic fields of Muslim countries. The purpose of this article is to examine the Islamic fintech index and provide solutions to improve Iran's position. For this purpose, the Islamic fintech index and its benefits have been examined first, and the methodology of this index has been examined. Then, 5 main criteria on which countries are evaluated and ranked in this index were extracted and using TOPSIS method, Iran's focus priorities for improvement in this index were calculated. According to the findings of the research, regulation and infrastructure creation are the two main components for the development of the Islamic fintech industry in Iran. Focusing on talents, capital development and the development of Bazaz and the Islamic fintech ecosystem were also placed in the next priorities, respectively.

Keywords

• Islamic finance
• fintech
• Islamic fintech
• TOPSIS