FinTech Start-Ups Financing in Islamic Banks in Oman: Qualitative Evidence
- DOI
- 10.2991/aer.k.210121.045How to use a DOI?
- Keywords
- Oman, FinTech, Financing, Islamic Bank
- Abstract
The objective of the study was mainly to shed light on the current state and future prospects of FinTech in Oman, with particular focus on its potential contribution to the Islamic finance industry. The study used qualitative methods in forms of in-depth interviews with eight Islamic banks’ managers in Oman. The findings revealed that the FinTech industry in Oman is still operating under-potential. This might be due to the general lack of interest in this area by the Omani start-up businesses. This situation might also be due to the lack of financing opportunities by local financial institutions, including both Islamic and conventional financial institutions. The findings also showed that the start-ups in Oman prefer long term financial schemes, while the Islamic financial institutions (IFIs) generally prefer short term financing on Musharakah and Ijarah contracts. Finally, the findings showed that the IFIs are optimistic regarding the prospects of growth and success of FinTech in Oman. It is noteworthy that this is one of the early studies that address the FinTech startups financing from an Islamic perspective, and hence lays the ground for the future studies to be conducted in this area.
- Copyright
- © 2021, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Abdelghani Echchabi AU - Mohammed Omar AU - Abdullah Ayedh AU - Welcome Sibanda PY - 2021 DA - 2021/01/21 TI - FinTech Start-Ups Financing in Islamic Banks in Oman: Qualitative Evidence BT - Proceedings of the 4th International Conference on Sustainable Innovation 2020-Accounting and Management (ICoSIAMS 2020) PB - Atlantis Press SP - 324 EP - 329 SN - 2352-5428 UR - https://doi.org/10.2991/aer.k.210121.045 DO - 10.2991/aer.k.210121.045 ID - Echchabi2021 ER -