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

Author

Listed:
  • Farah Naz

    (Kinnaird College for Women)

  • Sitara Karim

    (Nottingham University Business School, University of Nottingham)

  • Asma Houcine

    (University of Tunis
    University of Dubai)

  • Muhammad Abubakr Naeem

    (United Arab Emirates University
    South Ural State University)

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.

Suggested Citation

  • Farah Naz & Sitara Karim & Asma Houcine & Muhammad Abubakr Naeem, 2024. "Fintech Growth during COVID-19 in MENA Region: Current Challenges and Future prospects," Electronic Commerce Research, Springer, vol. 24(1), pages 371-392, March.
    • Handle: RePEc:spr:elcore:v:24:y:2024:i:1:d:10.1007_s10660-022-09583-3
    DOI: 10.1007/s10660-022-09583-3
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