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This study aims to analyze how the COVID-19 pandemic has altered the role of the Islamic finance (IF) sector in the economy and how technological developments in IF can enhance its functioning and contribution to sustainable development in the post-pandemic era. It examines the impact of IF on traditional financial inclusion pre- and post-COVID-19. Furthermore, in response to the acceleration of financial technologies following the pandemic, the study explores the impact of Islamic FinTech on Digital Financial Inclusion (DFI) and, consequently, on sustainable development (SD).

A cross-sectional multiple regression analysis is conducted to examine the impact of traditional IF on financial inclusion pre- and post-COVID-19 in the years 2017 and 2021 for 64 countries. Moreover, a structural equation model (SEM) is used by using cross-section data for 64 countries in the year 2021 to capture the impact of Islamic FinTech on SD through DFI as an intermediator.

IF has a positive and significant impact on traditional financial inclusion pre-COVID-19. On the contrary, it has insignificant impact post to the pandemic due to the slow-down of the sector development. Alternatively, Islamic FinTech has a positive and significant impact on DFI and, hence, on SD. These results indicate that the development of the IF sector is negatively affected post to the pandemic. However, it still has an opportunity to shift to a more resilient sector by introducing financial innovations that allow it to cope with the global current financial technological changes.

This research has some limitations that could be addressed in future studies. First, the empirical analysis is restricted to cross-sectional analyses in years 2017 and 2021 to compare the role of IF pre- and post the pandemic. These years are chosen based on data from the Global Financial Development Database, which is collected by the World Bank and released every three years, with the latest update in 2021. Second, this study uses one measure for each of traditional and DFI. This can be further investigated by using multiple indicators or constructing an index for each variable.

Islamic FinTech presents several practical implications, particularly in its ability to provide access to financial services while adhering to Shariah principles. First, it fosters a more inclusive financial ecosystem by offering cost-effective, ethical and transparent financial products tailored to diverse populations that can significantly contribute to financial inclusion, especially in Muslim-majority countries. Second, it promotes gender equality by improving access to financial resources and services, which enhances financial inclusion and subsequently drives the expansion and development of the IF sector and hence supports SDGs. Third, Islamic FinTech supports the growth of SMEs by providing Shariah-compliant financing alternatives.

This paper’s originality lies in its comparison of the role that the development of the IF sector plays in financial inclusion pre- and post-COVID-19, using empirical regression analysis, which contrasts with other studies that use theoretical analysis. Furthermore, the study bridges a gap in the IF literature by extending the analysis to integrate digital technologies into the IF sector, using the Global Islamic FinTech index (GIFT) to capture various aspects of Islamic FinTech development by conducting an SEM to examine the impact of Islamic FinTech on SD, with DFI serving as an intermediator.

This paper aims to examine the connection between digital payments, ownership structure, and bank performance in Jordan, as well as investigate the moderating role of the independent director in the said relationship.

The study uses data from 12 Amman stock exchange-listed commercial banks, covering the period from 2010 to 2023. This paper employs econometric analysis of panel data, including ordinary least squares (OLS) regression as the primary approach, as well as the generalised method of moments, the two-stage least square (2SLS), and the dynamic model to deal with causality and endogeneity issues in the proposed equations. This ensures that the results are valid.

The results indicate that digital payments and ownership structure have a significant positive connection with bank performance. Additionally, the independent director variable appears to play a substantial and positive moderating role in the link between ownership structure (e.g. institutional ownership) and bank performance. These results strengthen and support the claims of agency theory and the information systems success model.

Overall, this research helps stakeholders, bankers, managers, investors, customers, and policymakers, identify the influence of digital payment and ownership structure on bank performance in developing economies such as that of Jordan.

This investigation offers a unique understanding by illuminating how digital payment and ownership structure affect bank performance in a developing country such as Jordan. Additionally, it opens avenues for future research to delve into this literature domain in North African and Middle Eastern nations, with a particular focus on Jordan. This investigation is among the initial explorations in Jordan that aim to elucidate these relationships. On the theoretical level, it adds to the agency theory and IS model. It provides new insights into the dynamics of industry banking in developing nations (i.e. Jordan).

This study aims to investigate the relationship between corporate governance characteristics and the financial performance of both Islamic and conventional banks in the context of an emerging market, i.e. Malaysia.

This study includes 300 bank-year observations from Islamic and conventional banks over the period 2010–2021. The dynamic panel model (generalized method of moments [GMM]) was considered the primary estimation model that solves simultaneity, endogeneity and omitted variable problems as most governance variables are endogenous by nature. Hence, static models are considered biased after conducting the DWH test of endogeneity, and considering dynamic panel GMM is valid proven by Sargan and Hensen and first-order (ARI) and second-order (ARII) tests.

Based on the regression results, the authors discovered that board size, female participation in the board and director remuneration have a significant positive impact on bank performance, whereas board meetings have a significant negative impact. Furthermore, the board governance structure of commercial banks is found to be more passive than that of Islamic banks.

The study’s findings added a new dimension to governance research, which could be a valuable source of knowledge for policymakers, investors and regulators looking to improve existing governance mechanisms for better performance of conventional and Islamic banks.

The goal of this study is to add to the existing literature by focusing on the impact of female board participation and other board governance mechanisms in both conventional and Islamic banks on bank performance.