English Abstract
Abstract :
The dissertation aimed to understand the adoption of Blockchain technology by
the Islamic banks in Bahrain. The study used both qualitative as well quantitative
data for analysis and drawing the conclusion. The qualitative data was gathered
from bank documents, financial statements, and past academic literature to
contextualize the research. For empirical data, the research employed in depth
interviews with key informants selected from the Islamic banks, Fintech’s and
Insurance industry. The conclusions of the study are mainly derived from the 30
respondents handling Blockchain and technology related matters in their
respective organizations. The research was able to elucidate blockchain
technology, its application in Islamic banks, and its present level of
implementation in Islamic banks of Bahrain'. The findings of the study reveals
that the Blockchain technology is still at the invention stage about comprehending
its applicability in organizational processes, it is currently being experimented
with across several industries. It will require a long time for blockchain
technology to become more widely used and accepted, despite its success in
demonstrating its functionality. This is because the implementation of the
blockchain must tackle problems like its incorporation with existing systems,
government oversight, and stakeholder support. However, just as the usage of the
internet and other technologies were inescapable, the blockchain will eventually
find widespread adoption. However, the implications of this research are that it
provides a basis for the operationalization of Blockchain in the Financial services
sector especially Islamic finance in Bahrain. The research further provides the
avenues for future researchers to explore the growths of Blockchain use using
longitudinal studies.
