Diponegoro Law Review
Vol 9, No 2 (2024): Diponegoro Law Review October 2024

LEGAL AND SOCIO-ECONOMIC ISSUES OF AUTOMATED ISLAMIC BANKING IN UGANDA: LESSON FROM INDONESIA

Aidonojie, Paul Atagamen (Unknown)
Adebayo, Adesoji Kolawole (Unknown)
Eregbuonye, Obieshi (Unknown)
Mukhlis, Muhammad Mutawalli (Unknown)
Ibeh, Success (Unknown)



Article Info

Publish Date
31 Oct 2024

Abstract

The global surge in digital technology has revolutionized various sectors, including Islamic banking. While Indonesia has successfully incorporated digital automation into its Islamic banking system, Uganda's nascent Islamic banking system faces opportunities and challenges in adopting similar technologies. This study uses a hybrid research method with a conceptual approach to explore the prospects and challenges in automating Uganda's Islamic banking system by learning from Indonesia's progress. A total of 306 questionnaires were distributed to Ugandan respondents, and the data were analyzed descriptively and analytically. The findings show that automation has significantly improved the Islamic banking system in Indonesia, a model that Uganda can emulate. However, implementation in Uganda faces legal and socio-economic barriers that may affect its feasibility. This study recommends revising Uganda's legal framework to support and regulate a digitalized Islamic banking system while addressing socio-economic challenges. Ultimately, the study underscores that with the right reforms, automation can improve Uganda's Islamic banking landscape.

Copyrights © 2024






Journal Info

Abbrev

dlr

Publisher

Subject

Law, Crime, Criminology & Criminal Justice

Description

Diponegoro Law Review (Diponegoro Law Rev. - DILREV) is a peer-reviewed journal published by Faculty of Law, Diponegoro University. DILREV published two times a year in April and October. This journal provides immediate open access to its content on the principle that making research freely ...