The Impact of Financial Technology on returns of shares for Jordanian Islamic Banks

Abstract

This research aims to elucidate the profound impact of financial technology (FinTech) on the returns of shares for Jordanian Islamic banks, specifically, Jordan Islamic Bank, Arab Islamic Bank, and Safwa Islamic Bank. Using the descriptive analytical method, appropriate for the nature of the study, comprehensive data was meticulously gathered from various studies and reports, addressing both theoretical and empirical dimensions. The study encompasses the entire population of Jordanian Islamic banks.Through a rigorous analysis of FinTech trends spanning 2016 to 2021, the research establishes statistically significant differences (at a significance level of α≤0.05) among Jordanian Islamic banks regarding their FinTech adoption. Furthermore, the study discerns statistically significant variations in the returns of shares for Jordanian Islamic banks during the same timeframe.The findings underscore the need for strategic initiatives, including targeted marketing campaigns, to enhance awareness of electronic banking. Additionally, emphasis should be placed on fortifying the security and confidentiality elements integral to electronic banking services. This research provides valuable insights for practitioners, policymakers, and stakeholders in the ever-evolving landscape of Islamic banking and financial technology.