Blockchain trade finance platform supports Bangladeshi SMEs with new Shariah...
Decentralized global trade service provider Contour has launched a fully digital trade finance network specifically designed to offer Bangladeshi SMEs support in trade finance, particularly with letter...
View ArticleShariah banks welcome support in digital transformation
The global Islamic banking industry has been on the digital transformation route since the Fourth Industrial Revolution began in earnest almost a decade ago, but the COVID-19 pandemic, the impact of...
View ArticlePalestine looks to Jordan’s fintech development to model banking sector’s...
The Palestine Monetary Authority (PMA) has taken a step toward the digital transformation of Palestine’s banking sector by reviewing its neighbor Jordan’s financial technology development so far. The...
View ArticleNew Islamic neobank to enter US market in December 2021
The US market, which currently only has Fair as its lone challenger bank catering to Muslims in the country, can expect to welcome a new player by December 2021 as Islamic neobank Fardows finalizes its...
View ArticleNew Islamic fintech start-up could come out of collaboration between...
Preliminary discussions between Indonesia's Shariah compliant peer-to-peer platform ALAMI and Turkish officials could result in a new Islamic fintech start-up that serves both countries. The post New...
View ArticleCASE STUDY: ALAMI and ICS offer Islamic financing to healthcare sector
Shariah compliant peer-to-peer platform ALAMI and small business lending fintech company Impact Credit Solutions (ICS) have collaborated to provide Islamic financing to hospitals, clinics, pharmacies...
View ArticleSedania submits license bid for Waqf digital bank
Sedania As Salam Capital (SASC), an Islamic fintech solutions provider owned by Malaysian company Sedania Innovator, has joined the race to secure a digital banking license in the country, past the...
View ArticleIndonesia encourages MSMEs to turn to Shariah crowdfunding
Indonesia’s Komite Nasional Ekonomi dan Keuangan Syariah (KNEKS), or the National Committee for Islamic Economy and Finance, has amped up its support for the country’s MSME and Halal sector with its...
View ArticleState Bank of Pakistan’s new framework could pave the way for first Islamic...
The State Bank of Pakistan (SBP) has accelerated its drive to set up digital banks in Pakistan — both Islamic and conventional — with its recently released Licensing and Regulatory Framework for...
View ArticleDigital services company prepares to serve SMEs with Islamic financial ecosystem
Digital financial services company M24, which has expressed its interest in becoming an Islamic digital bank in Malaysia, has announced its plan to establish an Islamic digital ecosystem serving SMEs,...
View ArticleGambian Islamic finance consultancy partners with UAE firm to focus on...
Equity Solutionz, a company focusing on tax, audit, accounting and information technology solutions, announced that it has signed an MoU with global Islamic finance consulting firm Fineopolis to...
View ArticleNew Shariah compliant digital bank enters the Saudi market
In line with its commitment to developing and supporting innovation in the local banking sector, the Saudi Central Bank (SAMA) has granted a license to a new Shariah compliant digital bank — the third...
View ArticleUzbek Islamic fintech gets boost for superapp ambitions with successful seed...
Islamic fintech start-up IMAN, headquartered in Muslim-majority Uzbekistan, has successfully closed a US$1 million seed round led by institutional investors based in Singapore and the US. The post...
View ArticleSaudi crowdfunding platform to focus on Islamic financing with latest seed round
The thriving Saudi Shariah compliant financing sector can expect to welcome a new player: Funding Souq, a homegrown digital lending platform that has recently closed a successful seed round, which is...
View ArticleDigital solutions company develops Tawarruq platform for Senegalese market
BBS Invest, a Senegalese payment and digital solutions company, is currently working on what it says is the first SMART Tawarruq platform developed in West Africa. The post Digital solutions company...
View ArticleSHUAA rolls out new Islamic venture fund for tech companies
High-growth technology companies across the GCC region can expect a boost in capital funding with the launch of SHUAA Capital’s latest Shariah compliant fund, SHUAA Venture Partners. The post SHUAA...
View ArticleIslamic bank and telecoms company jointly launch mobile financing solution in...
Gulf African Bank (GAB), one of Kenya's three fully-fledged Islamic banks, has partnered with telecoms company Safaricom to launch Halal Pesa, a Shariah compliant mobile financing solution. The post...
View ArticleAlbania to have its first digital Murabahah platform in June 2022
Albania can expect to welcome its first digitalized Murabahah platform in less than three months, Amel Kovacevic, CEO of United Bank of Albania (UBA), told IFN, the sister publication of IFN Fintech....
View ArticleSingaporean company invests in Islamic neobank to boost Indonesian insurtech...
Singapore’s ZA Tech Global, a digital insurance solutions provider, is the latest strategic business partner and investor of Bank Aladin, an Indonesian Islamic digital bank, to collaborate on insurtech...
View ArticleCambodia to welcome Shariah compliant digital financial services
Singapore-based Bankograph, a digital banking solutions provider, has partnered with Cambodia Asia Bank (CAB), a commercial bank with its headquarters in Phnom Penh, to offer Shariah compliant products...
View ArticleNew Malaysian Islamic neobank names CEO designate ahead of launch
Rafiza Ghazali, who has announced her departure from Malaysian tech start-up funding agency Cradle Fund as its group CEO, has confirmed with IFN her next venture: leading one of the first Islamic...
View ArticleSaudi wholesaler explores possible investment into UAE BNPL start-up
Cashew Payments Holding, a fintech start-up headquartered in the UAE, has attracted more support for the imminent launch of Cashew KSA, its operations in Saudi Arabia, with Saudi wholesale and retail...
View ArticleCentral Bank of Iran launches long-awaited regulatory sandbox
intech start-ups in Iran have received a boost of support with the Central Bank of Iran (CBI)’s recent launch of its regulatory sandbox — a major part of the regulator’s plans to reform the country’s...
View ArticleIslamic bank ventures into the metaverse
Warba Bank has announced its entry into two metaverses, making it the first Islamic bank in the world and the first bank in Kuwait and the region to have a presence in the virtual world. The post...
View ArticleUAE digital banking start-up raises US$41 million to fund expansion; partners...
UAE-based digital banking app YAP has raised US$41 million to back its growth and expansion plans, through an investment round led by Shariah compliant Saudi firm Aljazira Capital. The post UAE digital...
View ArticleMalaysia and Turkey to join hands and establish first Turkish Islamic digital...
During an official visit by Malaysian Prime Minister Ismail Sabri to Turkey to meet his counterpart President Recep Tayyip Erdogan and discuss bilateral cooperation, two entities signed an agreement to...
View ArticleFintech company enters Malaysian Islamic finance market with BNPL offering
Fintech and digital commerce solutions provider IOUpay has become the newest player in the thriving Shariah compliant buy-now-pay-later (BNPL) market in Malaysia — the first step in its plan to expand...
View ArticleNew Islamic trading platform encourages Pakistani diaspora investment
Pakistan Stock Exchange (PSX) and fully-fledged Islamic bank Meezan Bank have collaborated to establish a new, dedicated trading platform catering to Islamic banks' clients that hold Roshan Digital...
View ArticleLabuan launches initiative to attract Islamic digital assets and fintech...
In a bid to position itself as a strong player in the digital Islamic finance space, the Labuan Financial Services Authority (Labuan FSA) has launched its Islamic Digital Asset Centre (IDAC)...
View ArticleEthis partners with Islamic rural banks
Shariah compliant fintech platform Ethis Indonesia has finalized its partnership with two Indonesian Islamic rural banks, or Bank Pembiayaan Rakyat Syariah (BPRS) as they are locally known. The post...
View ArticleTPL Insurance partners with Faysal Bank to extend Takaful reach
Over a year after the Pakistani regulator released draft guidelines in support of digital-only insurers, an insurtech company's Takaful window has partnered with a local bank to expand its reach,...
View ArticleLabuan IBFC aims to issue Shariah compliant security tokens in 2023
The Labuan International Business and Financial Centre (Labuan IBFC), a special economic zone in Malaysia's Labuan, plans to issue Shariah compliant digital security tokens this year, through its newly...
View ArticleQatar’s 2023 fintech strategy prioritizes Islamic banking and insurance
Sheikh Bandar Mohammed Saoud Al-Thani, the governor of the Qatar Central Bank (QCB), has launched the National FinTech Strategy of the Sultanate for the year 2023, which is expected to boost the...
View ArticleIsDB and partners to mobilize funding for Nigeria’s digital industry
The IsDB has joined a consortium of multilateral and development agencies to launch a program aimed at funding the digital and creative sectors of Nigeria. The post IsDB and partners to mobilize...
View ArticleIslamic bank and VC firm launch Iraq’s largest tech fund
Iraq Islamic Bank (IIB), the country's first Islamic bank established in 1992, has partnered with global investment company MSA Novo to support Iraqi start-ups and contribute to the development of...
View ArticleOman licenses nine new crowdfunding platforms in Q1 2023
The Capital Market Authority (CMA) of Oman has granted licenses to nine companies to carry out crowdfunding activities as at the end of Q1 2023. The post Oman licenses nine new crowdfunding platforms...
View ArticleABHI taps Sukuk market to aid Middle East expansion
ABHI, an Islamic fintech company focused on providing payroll and wage solutions for businesses and their employees in Pakistan, has issued Sukuk worth PKR2 billion (US$6.93 million). The post ABHI...
View ArticleHejaz acquires stake in Islamic Bank Australia to drive digital ambitions
Australian Islamic finance provider Hejaz Group has taken one step closer to its goal of offering a holistic range of products and services with its latest investment in the country's lone...
View ArticleIslamic fintech start-up becomes Pakistan’s first licensed P2P financing...
Finja Invest, a Shariah compliant P2P financing platform, has received approval from the regulator to officially run its business, making it the first P2P lending service provider in the country. The...
View ArticleNew Somalian microfinance company to implement Islamic banking system
ASAL Microfinance, a newly established Shariah compliant microfinance company in Somalia, has partnered with digital finance service provider Musoni to help streamline its operations. The post New...
View ArticleDubai Islamic Bank enters Turkiye’s digital banking and fintech scene with...
Dubai Islamic Bank (DIB) has entered the Turkish digital banking and fintech sector with its investment in Technology of Money Group of Companies (T.O.M. Group), the financial arm of retail and...
View ArticleOmani regulator prepares for year-end launch of virtual assets framework
The Capital Market Authority (CMA) of Oman, which regulates and develops the Sultanate's capital market and insurance sector, is finalizing the Virtual Assets Regulatory Framework for its official...
View ArticleSaudi Arabia and Singapore to cooperate on fintech and innovation
The central banks of Saudi Arabia and Singapore have entered into a cooperation agreement to jointly work on the development of their respective fintech sectors, both of which feature a substantial...
View ArticleNew Qatari Islamic BNPL platform prepares for 2024 launch
Qatar may soon welcome PayLater, the first homegrown Buy Now Pay Later (BNPL) platform in the country, in 2024. The post New Qatari Islamic BNPL platform prepares for 2024 launch appeared first on IFN...
View ArticleAEON Bank operationally ready to roll out digital Islamic banking services
Almost one year after being granted a digital Islamic banking license by the Malaysian finance minister, AEON Bank secured approval from Bank Negara Malaysia and the Ministry of Finance for its...
View ArticleSaudi subsidiary of Hong Kong brokerage firm unveils Shariah compliant...
Valuable Capital Financial Company (VCFC), a brokerage firm licensed by the Saudi Capital Market Authority (CMA) and whose parent company is Hong Kong-based online broker Valuable Capital Group, has...
View ArticleTraditional investment channels evolving into hybrid digital platforms, says...
The Islamic fintech and digital investment sectors are rapidly growing, underlining a significant shift in the financial habits and preferences of Islamic investors worldwide. The post Traditional...
View ArticleNew Islamic digital bank to launch in the UAE
ruya, a new digital Islamic community bank, is set to officially launch in the UAE market, aiming to be the first of its kind in the country. The post New Islamic digital bank to launch in the UAE...
View ArticleBank Muamalat Malaysia shifts to cloud-based model
Bank Muamalat Malaysia, one of 16 fully-fledged Islamic banks in the country, has signed a collaboration with Google Cloud that is expected to speed up the bank’s transformation into a digital Islamic...
View ArticleMulti-asset fundraising platform launches inaugural tokenized Islamic offering
Kapital DX, touted as the first initial exchange offering platform in Malaysia, has launched its inaugural product: a tokenized primary offering of a Shariah compliant fixed income product issued by a...
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