Muhammad Azinuddin Bin Endut
Muhammad Azinuddin Bin Endut Mahasiswa Fakulti Ekonomi dan Muamalat, Tahun 4

To make it more better! This was the word that suitable to express for the Fin-Tech or we can call it as the financial technology. It was very important to our daily life which we are in the era of Industrial 4.0 which mostly we have to adapt with this technology. We can try refresh our mind by try to refresh back about the knowledge in the era of stone age which the stone was the basic uses for the people in that era. The uses of the stone can also be using for the tools for the hunting to make sure the sustainability to get food. So, it show that the presence of this technology suitable for the need and want for that time based on the knowledge, experience, skill due to the changing in the human daily life and the presence of the technology to meet the human need and desires. This is the briefly about the explanation about the definition of the technology.
Next , the Fin-tech our we can call it as the financial technology was same as the above situation which was the objective is to ease human daily life. Didn’t you have ever heard about the Robo-Advisor? Yes, this digital platform show that how the robot made a work for us which related about our wealth to which it will be expenses and how this platform will be our adviser in making our decision about the financial planning. Of course this process will use less power of human power. The best about this platform is when it provide to the users for the easiest account setup, enhance our goal planning, portfolio management and security features. We also can see the relevance or the acceptance of this Fin-Tech technologies in the eyes of the citizen are increase due to the adaption in this pandemic situation.

The pandemic Covid19 situation which we still didn’t find the right vaccine to cure this pandemic. Although there was an announcement about the finding of the vaccine which was on the final stage by Pfizer-BioNTech and Moderna’s Vaccines which was the earlier pharmaceutical company, the finding is still in the test and have to follow the stages to make sure this vaccine was safely to used. This pandemic was not only effect the employees but also effect to all types of the categories of age also effected. The sector in the industry also being affected and one of the others sector that being affected is like the financial sector such Banking institution that provide the loan for their customer and also the other financial institution. As we knows, Bank plays an important role in our country with providing monetary and financial stability conducive for the sustainable growth. The initiative that being provide by Bank to counter of the problem in this pandemic such as Moratorium, Sukuk Prihatin and so on.

There are many initiative from the Government to make sure the citizen’s welfare includes students and to get the benefit from the initiative that had been made by the government. Therefore, the opportunity for this platform should be take by all of us especially for us as he students to improve our life with the clever steps. For instance, in the budget 2021 which was being announce by our Ministry of Finance Malaysia, YB Tengku Datuk Seri Zafrul Tengku Abdul Aziz which said that, in third method “Inisiatif Sains, Teknologi dan Inovasi” which the government had provided about RM 100 Million from the Sukuk Prihatin for the uses in conduct research related to infectious diseases including vaccine development, as well as treatment and diagnostic studies. The thing that want to be highlighted is the importance of the innovation in virtualising the Fin-Tech product to bring the solution such as the presence of the Sukuk Prihatin in the middle of this pandemic. The special of this Sukuk Prihatin is when the platform not only open for the Corporate investor but also open to the Corporate Retailers. Definitely in mind, the Sukuk is for the huge amount of money to invest but this platform the investor can invest in the small amount. An interesting facts about this investment is, the main for this platform is not only for the profit but the main for this investment is helping in stabilize the national economy after COVID-19, even with a small amount of capital. This Sukuk Prihatin also can give many benefit to Retail Investor rather than they keep their money in saving accounts they can increase their money by invest in the Sukuk Prihatin which was low risk for them.

It show that how this Fin-Tech can bring us the benefit in the middle of this pandemic. The updated knowledge about the technology also was an extra for the person to improve their strategy to go further. As Muslim, it was not wrong to use technology as long as it didn’t clash with the thing that prohibited with Islam such as can make the destruction. As we can see the figure in Islam Ibn Rushd, Ibn Sina, Ibn Khaldun, Ibn Bajjah, Al-Zahrawi, Jabir bin Aflas and others who use their whole lives in the pursuit of research and exploration various fields of new science without leaving the sources of the Qur’an and hadith. This show that the implementation of the technology in our daily life is not wrong as it was align with our sources in Islam.

In conclusion, we should take this Fin-Tech platform and also the others technology that can ease our daily life. Besides, in our critical situation the adaption to this platform was very helpful to us. As we can see, how this platform can give the attention by all types of categories in serving the human needs and wants. The deeply research also should take on how to counter this issues.