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Evolution of the ecosystem competitiveness of global Islamic FinTech

ISSUE 9, SEPTEMBER 2026

Received: 11 March 2026

Accepted: 22 May 2026

Available online: 30 September 2026

Subject Heading: Banking

JEL Classification: G21, G28, O33, O16, Z12

Pages: 163-184

https://doi.org/10.24891/joftbz

Magomed R. TASHTAMIROV corresponding author, Kadyrov Chechen State University (Kadyrov CHSU), Grozny, Chechen Republic, Russian Federation
basxo@yandex.ru

https://orcid.org/0000-0002-6777-3863

Khaizuran A. TEMIRBULATOVA Kadyrov Chechen State University (Kadyrov CHSU), Grozny, Chechen Republic, Russian Federation
hayzuran@mail.ru

ORCID id: not available

Subject. Country models of ecosystem competitiveness in global Islamic FinTech, as well as the patterns of leadership formation, hub maturity, and the ratio of member states of the Organization of Islamic Cooperation to non-member jurisdictions in the top tier of the global Islamic FinTech sector.
Objectives. To identify the patterns of change in the ecosystem competitiveness of global Islamic FinTech and to typologize national models of its development based on the dynamics of the Global Islamic FinTech Index and the Islamic FinTech Hub Maturity Matrix.
Methods. The empirical base of the study comprises the editions of the Global Islamic FinTech Report series. Comparative?dynamic analysis, structural analysis, comparison, and typologization were employed.
Results. It was established that leadership in Islamic FinTech is determined not only by market size but also by the quality of the institutional environment, including regulation, infrastructure, capital, human resources, and integration into the Islamic finance market. It was shown that the upper segment of Islamic FinTech has a mixed architecture. A typology of country models of ecosystem competitiveness was proposed: stable institutional leaders, ascending second?tier hubs, external technology competitors, and maturing peripheral ecosystems.
Conclusions. Islamic FinTech is developing as a hierarchical system of competing national ecosystems. A country's advancement in the ranking reflects not only a change in position but also a possible transition to a higher stage of hub institutional maturity. The obtained results allow the Global Islamic FinTech Index to be used as a tool for analyzing the institutional conductivity of jurisdictions and for the comparative assessment of their ecosystem potential.

Keywords: Islamic finance, Islamic FinTech, Islamic FinTech hubs, institutional passability, GIFT Index

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