Fintech Growth during COVID-19 in MENA Region: Current Challenges and Future prospects

Farah Naz, Sitara Karim, Asma Houcine, Muhammad Abubakr Naeem

Research output: Contribution to journalArticlepeer-review

14 Citations (Scopus)

Abstract

In the wake of ongoing challenges faced by the disruption of COVID-19, the current study attempts to investigate fintech growth during COVID-19 in the Middle East and North African (MENA) region. The study applies descriptive analysis, content analysis, and keyword selection criteria to segregate current challenges and future prospects of fintech growth in the MENA region. Our study comprises 250 research articles, web reports, news articles, opinion papers, and commentaries. The study reported privacy issues, cybercrimes, financial disruption and instability, exploitation of social norms and values, rising inequalities, and non-compliance of regulatory authorities as major challenges posed by fintech startups in the MENA region. On the contrary, the future prospects of FinTech growth in the MENA region are employment opportunities, decentralization, cost-effectiveness, financial outreach, networking, and breaking traditional financial biases. The study recommended multiple implications for policymakers, regulation bodies, countries in the MENA region, and fintech developers.

Original languageEnglish
Pages (from-to)371-392
Number of pages22
JournalElectronic Commerce Research
Volume24
Issue number1
DOIs
Publication statusPublished - Mar 2024

Keywords

  • COVID-19
  • FinTech Challenges
  • FinTech Future prospects
  • FinTech Growth
  • MENA Region

ASJC Scopus subject areas

  • Economics, Econometrics and Finance (miscellaneous)
  • Human-Computer Interaction

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