Chapter 16. Islamic finance in the metaverse: meta-finance frameworks for supporting the growth of Shariah-compliant finance options in the metaspace
The metaverse has emerged as a topic of paramount importance in recent years, functioning as a virtual universe where individuals and companies can interact. While the metaverses are still in their nascent stages, there has been a notable increase in interest and capital inflow into these virtual re...
| Authors: | ; ; ; |
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| Format: | Electronic Article |
| Language: | English |
| Check availability: | HBZ Gateway |
| Interlibrary Loan: | Interlibrary Loan for the Fachinformationsdienste (Specialized Information Services in Germany) |
| Published: |
2024
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| In: |
Islamic finance in the digital age
Year: 2024, Pages: 301-314 |
| Further subjects: | B
Cryptocurrencies
B Metaverse B Shariah Compliance B Financing B Sukuk |
| Online Access: |
Volltext (lizenzpflichtig) |
| Summary: | The metaverse has emerged as a topic of paramount importance in recent years, functioning as a virtual universe where individuals and companies can interact. While the metaverses are still in their nascent stages, there has been a notable increase in interest and capital inflow into these virtual realms. For investors and participants focused on Shariah-compliant financial practices, this presents a considerable challenge due to the current lack of Islamic financing frameworks applicable to the metaverse. In our study, we have developed new frameworks for facilitating Shariah-compliant financing within the metaverse, highlighting the challenges and considerations necessary for establishing Shariah-compliant financial instruments in this context. Our framework adapts traditional Islamic financing options, such as Murabaha and Sukuk, to the metaverse context, ensuring that both contracting mechanisms and crypto-payments align with Shariah principles and support the unique environment of the metaverse. This framework marks a significant step forward in the development of Shariah-compliant financing models within the metaverse. |
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| ISBN: | 9781035322954 |
| Contains: | Enthalten in: Islamic finance in the digital age
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| Persistent identifiers: | DOI: 10.4337/9781035322954.00027 |
