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Journal of International Islamic Business Studies
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Journal of International Islamic Business Studies
Published by Universitas Jenderal Soedirman
ISSN : -     EISSN : 31092209     DOI : https://doi.org/10.32424/jiibs
Core Subject : Economy,
Economics, Econometrics & Finance
The Journal of International Islamic Business Studies (JIIBS) is a scholarly journal devoted to publishing high-quality theoretical and empirical articles in all Islamic areas of business, economics, management, banking, and Islamic finance. Promote dialogue and discussion on current issues in the fields of Islamic economics and finance among the international community of scholars. Encourage empirical research on Islamic finance, takaful, zakat, awqaf, and other Islamic institutions, including case studies from Muslim economies.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis dan Menejemen Intetrnasional
Articles 21 Documents
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Islamic Financial System Maturity in the Digital Age: A Comparative Institutional Analysis of Indonesia and South Korea Talitha Anisya Rahma; Geesun Lee
Journal of International Islamic Business Studies Vol 2 No 2 (2025): JIIBS
Publisher : Fakultas Ekonomi dan Bisnis Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/jiibs.v2i2.19298

Abstract

Digital transformation has altered the structure and governance of financial systems, including Islamic finance, where institutional capacity and Sharia governance determine system sustainability. Existing studies emphasize that Islamic financial system maturity should be assessed beyond quantitative indicators by incorporating regulatory coherence, institutional effectiveness, and governance readiness in the digital era. This study aims to analyze the maturity of Islamic financial systems in Indonesia and South Korea from a comparative institutional perspective. Using a qualitative literature review method, this study positions the Islamic financial system at the country level as the unit of analysis and compares both countries across regulatory frameworks, institutional structures, and Sharia governance arrangements. Indonesia represents a Muslim-majority country with expanding Islamic finance activities, while South Korea offers insight into Islamic finance development within a non-Muslim-majority institutional context. The findings suggest that Indonesia demonstrates strong market potential but faces challenges related to regulatory integration, whereas South Korea exhibits a more selective and institution-driven approach to Sharia-compliant finance. These differences indicate that Islamic financial system maturity is shaped by institutional design and regulatory context rather than market size alone. This study concludes that an institutional perspective provides a more comprehensive framework for understanding Islamic financial system maturity in the digital age.

Page 3 of 3 | Total Record : 21

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