Creating an elaborate theoretical framework with in-text references for the impact of blockchain on Islamic financial instruments can be challenging due to the need for specific, up-to-date references that might not be available within the scope of my last update. However, I can construct a detailed theoretical framework that synthesizes concepts from financial theory, Islamic finance principles, and blockchain technology, while providing placeholder references to illustrate how actual references should be integrated into the text.1
References
1Manj MS, Shah MA, Qamar M, Munir S, Memon KMA. The Impact of Blockchain Technology on Islamic Financial Instruments: Opportunities for Growth and Innovation. Al-Qanṭara. 9(4):296-306. https://alqantarajournal.com/index.php/Journal/article/view/360