Özet:

Financial technology is one of the most important factors enabling the digital transformation of financial markets. While the development of traditional financial technologies is still in progress, decentralized finance applications based on the blockchain economy have emerged. Financial technologies and decentralized finance are naturally affected by the regulatory and supervisory approaches of governments. The political economy of financial technology, which countries form within the framework of their own laws, spills over into areas such as Islamic finance, especially in Muslim countries. The United Arab Emirates (UAE), one of the Gulf countries, has a vision to be the pioneer of Islamic finance, but also wants to be a leader in fintech industry. The UAE has been one of the leading countries in Islamic finance since the first years of its establishment and wants to expand this industry. The UAE has played an important role in the emerging industries of financial technology and decentralized finance and has demonstrated innovative political economy approach. UAE acts agile in its regulatory and supervisory approach and moves faster than many leading countries in financial markets. While the UAE has made significant breakthroughs in financial technologies, it is observed that it has no substantial efforts in terms of political economy of Islamic fintechs. The UAE royal family has given open support to an emerging Islamic digital asset. The aim of this study is to investigate the relationship between the political economy of financial technology in the UAE and Islamic finance.

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