Scope: Islamic fintech combines technology with Islamic finance, focusing on providing digital solutions that comply with Shariah principles. This includes digital banking, crowdfunding, and blockchain for transparency in Islamic finance transactions.

Process: Fintech solutions are built to ensure compliance with Islamic finance rules, often with the oversight of Shariah advisors. Platforms are developed with mechanisms to filter investments, prevent interest, and enable ethical financing.

Challenges: Compliance with both Shariah and regulatory standards, as well as aligning rapidly evolving technology with traditional Islamic principles, can be difficult.

Examples: Digital platforms like Wahed Invest for Shariah-compliant investments, Blossom for microfinance, and Finterra for Waqf and charity-based crowdfunding are key examples of Islamic fintech.