Women entrepreneurs in the era of metaverse: An Islamic economic perspective

Abstract

Purpose – This study aims to reveal the phenomenon of women entrepreneurs in the era of the Metaverse and analyze the Islamic economic viewpoint on using the Metaverse for business purposes. Methodology – For the research procedure, this study uses a qualitative method with descriptive analyses and collects the sources of research using the library research technique. Findings – This paper's findings showed that a growing number of entrepreneurs are conducting business in the Metaverse world, including women entrepreneurs. It also can be seen that cryptocurrencies used as tools for business transactions in the Metaverse are not in accordance with Islamic principles. It can be concluded that it is better for Muslim entrepreneurs to always be on track with the Islamic way, particularly in running their businesses.Implications – The rising amount of women entrepreneurs in this generation has become remarkable, concurrent with the evolution of digitalization which eases the praxis of business to occur, particularly in the era of the Metaverse. Yet, it is also essential to analyze the usage of the business platform in the sphere of Metaverse from the perspective of Islamic economics for business activity, not to contradict the principles of Islam. Originality – This study is to complete the lack of previous studies explaining the phenomenon of women entrepreneurs in the recent era of the Metaverse and discuss the perspective of Islamic economics concerning business in the Metaverse sphere.

The Role of Metaverse in Women Entrepreneurship and Economic Complexity: Evidence from Pakistan

“…Which has significant potential to address knowledge-related problems and skill development which is opportunity for women's to get higher education and training programs. Metaverse is dynamic power for advanced companies and entrepreneurs (Samad et al, 2022). Women entrepreneurs can offer their services and products, innovative ideas and working -related initiatives.…”

“…The technologies within metaverse have capacity to significant impact on management of gender inequalities. Technologies effectively overpass the existing information gaps enabling Pakistani women to provide educational opportunities, healthcare information's and vocational training initiatives (Samad et al, 2022). Utilizing technologies enable women's to achieve educational opportunities and accessing information's otherwise inaccessible.…”

“…Adoption of mobile technologies foster digital literacy and improve women's role in digital economy. This technique provides many opportunities for women's (Samad et al, 2022).…”

The metaverse and Islamic financial contracts: The case of Ijarah

“…This would mean that the ownership of these virtual vehicles would be subjected to the same rules and restrictions as other virtual assets, including the prohibition of interest (riba) and the requirement for assets to be permissible (halal in accordance with Shariah law), and has a valuable usufruct for Ijarah purposes. Remarkably, implementing these Islamic finance principles in the context of virtual assets is still a topic of debate among Islamic scholars (see Samad and Hasan, 2022;Kamdzhalov, 2020). Hence, Islamic finance's principles of ownership and possession can be applied to virtual assets such as NFTs, real estate, and vehicles.…”