Forecasting the Adapted-Meta Technology on Shariah Compliant Mortgage
Fauzan Muhammadi (a) (b), Nor Fahimah Binti Mohd Razif (a), Rahimin Affandi Abdul Rahim (a)

(a) Academy of Islamic Studies, Universiti Malaya
(b) Universitas Ahmad Dahlan

Abstract

Currently our life has stormed by fast development of meta-technology that could transform physical being into digital verse. This fact has affected many issues, one of which is mortgage activities. The problem is that we tend to follow debating issues on its several controversies and not trying to foretell on what side it could be as shariah compliant mortgage. The study aims to forecast the alternative technology pattern on mortgage activities in accordance with Islamic Shariah. This article uses qualitative study which employs secondary data. Those data analyzed through desk activities and it narrated descriptively in consecutive logical structure. From this study, we could offer an adapted-technology could be meta-activities on mortgage using formal digital currency. This meta-mortgage will be fully digital using smart contract, smart avatar ID, digital properties whether it linked or not with the real one. This study will give contribution on generating the possibility of adapted-technology without excluding the Shariah principle.

Keywords: shariah- mortgage- technology- metaverse- digital

Topic: Law