Sunday, October 25, 2020

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LATEST NEWS

Allied Bank partners with Western Union

Pakistan's Allied Bank, which offers Islamic financial services, has collaborated with Western Union, enabling customers to conduct international money transfers with 75...

Ajman Bank integrates UAE PASS

Ajman Bank has integrated UAE PASS, the national digital identity for UAE citizens and residents that enables them to digitally sign documents,...

Tabung Haji goes digital

Malaysia's Hajj fund board Lembaga Tabung Haji (TH) has launched the THiJARI smartphone application on the 5th October 2020 in an effort...

Boubyan Bank and FinFin Capital collaborate  

Boubyan Bank has signed a partnership agreement with FinFirst Capital as part of the bank’s strategy of investing in digital banking services’...

Principal Global Investors to launch mobile app

Principal Global Investors, based in the US, is looking to launch a mobile app under the ‘Young Hajj’ program in Indonesia to help...

Alternative Finance

Orpheus Capital: Alternative digital finance for the underbanked

Orpheus Capital was established in June 2020 aiming to serve underbanked SMEs by providing swift access to cash flow.

Saudi’s e-commerce boom attracting Shariah compliant fintech start-ups

The Saudi government’s aggressive push to develop its e-commerce sector for its cash-rich citizens in a bid to divorce itself from its...

Fintech start-up cashew ready to tap Saudi and UAE markets with Muslim-friendly offering

Two years in the making and US$5 million invested, digital finance platform cashew (Cashew Payments Technology) has finally launched in Saudi Arabia...

Manzil exceeds equity financing target; rolls out new product

Canadian fintech start-up Manzil is maintaining its steady growth momentum with new investments and a new product. Initially looking...

Blockchain & Cryptocurrency

Sophomore Indonesian micro smart Sukuk in the works

In October 2019, a Yogyakarta-based Islamic microfinance cooperative broke new ground with its primary Sukuk issuance on blockchain using Blossom Finance’s SmartSukuk...

Swiss-affiliated blockchain firm prepares to tap Islamic securitization market with Fatwa

An open-source public blockchain has secured a Fatwa affirming the Shariah integrity of its mechanisms, paving the way for blockchain-based Islamic financial...

Blockchain Sukuk facility delivers 15.5% gross return

Islamic cooperative KSPPS BMT Bina Ummah’s IDR715 million (US$48,671.9) one-year Sukuk Mudarabah facility, issued via Blossom Finance’s SmartSukuk platform, has generated a...

Bursa Malaysia to develop blockchain POC

Bursa Malaysia and Singapore’s fintech technology provider Hashstacs have teamed up to develop a blockchain proof-of-concept (POC) to facilitate the growth of...

Most Popular

Singaporean BaaS platform targets Halal market

Driven by strong client demand, RootAnt, a Singapore-based technology enabler of the Banking-as-a-Service (BaaS) technology, will be introducing Shariah fintech solutions for...

Orpheus Capital: Alternative digital finance for the underbanked

Orpheus Capital was established in June 2020 aiming to serve underbanked SMEs by providing swift access to cash flow.

Beyond basic banking: Insha secures seed funding; plans expansion and Islamic investment product debut

After providing basic banking services for the last two years, Germany’s only digital Islamic bank will be rolling out Shariah compliant investment...

ADIB eyes robo-advisory

One of the largest Islamic banks in the UAE is exploring robo-advisory offerings as part of its wider digital strategy which has...

Saudi’s e-commerce boom attracting Shariah compliant fintech start-ups

The Saudi government’s aggressive push to develop its e-commerce sector for its cash-rich citizens in a bid to divorce itself from its...

Digital banking

Singaporean BaaS platform targets Halal market

Driven by strong client demand, RootAnt, a Singapore-based technology enabler of the Banking-as-a-Service (BaaS) technology, will be introducing Shariah fintech solutions for...

ADIB eyes robo-advisory

One of the largest Islamic banks in the UAE is exploring robo-advisory offerings as part of its wider digital strategy which has...

UK’s largest Islamic bank to boost digital offerings

UK’s first Islamic bank will be enhancing its digital offerings, encouraged by the strong uptake in digital channels by its customers.

SIBL first Islamic bank to implement digital onboarding; more to follow

Social Islami Bank (SIBL) has become the first Shariah bank in Bangladesh to enable a fully digital onboarding experience, setting the foundation...

Regulations

Going live: Pakistan to test non-banking fintech solutions in sandbox

Almost eight months in the making, the Securities and Exchange Commission of Pakistan (SECP) is finally allowing its first cohort to test...

Iran’s new capital market taskforce to address tech infrastructure

Iran’s newly minted Capital Market Consultative and Advisory Taskforce, established by the Iranian Securities and Exchange Organization (SEO), will house a dedicated...

Egypt to set up fintech regulatory sandbox following approval of non-banking fintech draft law

Egypt’s Financial Regulatory Authority (FRA) has approved a draft law to develop and regulate fintech in non-banking activities, just weeks after forming...

Indonesian regulator appoints new Islamic fintech gatekeeper to develop industry

The Indonesian Shariah Fintech Association (AFSI) has been appointed by the regulator to assist with developing Islamic fintech in Indonesia. AFSI has...

P2P & Crowdfunding

ALAMI joins hands with Islamic bank to support MSMEs

Islamic peer-to-peer financing platform Alami Fintek Sharia (ALAMI) has partnered with Bank Syariah Mandiri to provide SME financing nationwide.

Bank Muamalat Malaysia unveils digital social financing platform

Bank Muamalat Malaysia has launched a digital funding platform designed to support social welfare projects, as part of the country’s value-based intermediation...

Ethis Group launches crowdfunding platform

Ethis Group has launched its first Shariah compliant equity crowdfunding platform in Malaysia, focusing on SMEs and the agricultural sector during its first year. There...

Egypt to set up fintech regulatory sandbox following approval of non-banking fintech draft law

Egypt’s Financial Regulatory Authority (FRA) has approved a draft law to develop and regulate fintech in non-banking activities, just weeks after forming...

trading & investment

Beyond basic banking: Insha secures seed funding; plans expansion and Islamic investment product debut

After providing basic banking services for the last two years, Germany’s only digital Islamic bank will be rolling out Shariah compliant investment...

Tabung Haji goes digital

Malaysia's Hajj fund board Lembaga Tabung Haji (TH) has launched the THiJARI smartphone application on the 5th October 2020 in an effort...

Australian fintech forex broker launches Islamic account

ACY Securities, a fintech-based forex broker headquartered in Sydney, Australia, has announced in a statement the worldwide release of its new swap-free...

Blockchain Sukuk facility delivers 15.5% gross return

Islamic cooperative KSPPS BMT Bina Ummah’s IDR715 million (US$48,671.9) one-year Sukuk Mudarabah facility, issued via Blossom Finance’s SmartSukuk platform, has generated a...

robo-advisory

ADIB eyes robo-advisory

One of the largest Islamic banks in the UAE is exploring robo-advisory offerings as part of its wider digital strategy which has...

Egypt to set up fintech regulatory sandbox following approval of non-banking fintech draft law

Egypt’s Financial Regulatory Authority (FRA) has approved a draft law to develop and regulate fintech in non-banking activities, just weeks after forming...

Wahed recruits investment banking veteran to lead Dubai operations

After an extensive career on Wall Street and in the Middle East, Kashif Khan has joined digital investment management start-up Wahed Invest.

DIFC invests in Islamic fintech

The Dubai International Financial Centre (DIFC) has invested in four fintech start-ups including two which offer Shariah compliant services — remittance platform...

Payments

Allied Bank partners with Western Union

Pakistan's Allied Bank, which offers Islamic financial services, has collaborated with Western Union, enabling customers to conduct international money transfers with 75...

First Abu Dhabi Bank boosts payment services with new fintech partnership

The UAE’s largest bank has partnered with a fintech start-up to roll out a Buy-Now-Pay-Later solution, expanding payment and financing options for...

Saudi Islamic bank secures license for payment company

Alinma Bank, one of the four fully-fledged Islamic banks in Saudi Arabia, has obtained a regulatory license for its payment company, AlinmaPay,...

Arab Sea to establish digital company

Software and computer services company Arab Sea Information Systems has received the approval of its board of directors to establish a limited...