Monday, March 8, 2021

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LATEST NEWS

Eiger welcomes new board director

Fintech company Eiger Trading Advisors has appointed Steve Moulder as a non-executive board director effective the 15th March 2021. Moulder has 41 years of...

Beneficent and Manzil collaborate

Beneficent, a non-profit organization providing interest-free financing, has partnered with Islamic fintech start-up Manzil to launch interest-free prepaid credit cards with cashback rewards to...

Manzil joins AAOIFI

Manzil has received an associate membership approval from AAOIFI, according to a press release. As a member of AAOIFI, Manzil will assist AAOIFI in...

Saudi licenses new robo advisor

The Capital Market Authority of Saudi Arabia has granted DFN Road Company a financial technology experimental permit (ExPermit) to experiment with robo-advisory service. The...

FWD Affiliate to include online plans

As at the end of October 2020, FWD Affiliate, an initiative by Malaysia's FWD Takaful to raise public awareness of Takaful while offering an...

Alternative Finance

Beneficent and Manzil collaborate

Beneficent, a non-profit organization providing interest-free financing, has partnered with Islamic fintech start-up Manzil to launch interest-free prepaid credit cards with cashback rewards to...

IAP forms ECF alliance to serve wider range of fund seekers

With stringent compliance criteria preventing it from serving high-growth start-ups and young businesses, Islamic multibank investment platform IAP Integrated has formed an alliance with...

FlexxPay closes US$3 million funding round

Following a string of successful Islamic fintech funding deals, Islamic alternative finance company FlexxPay has raised US$3 million in a pre-series A round, supporting...

Blockchain & Cryptocurrency

Iran Fara Bourse eyes blockchain Sukuk following launch of capital market initiatives

Iran Fara Bourse (IFB), which operates under the supervision of the Securities and Exchange Organization and is one of the four exchanges in Iran,...

Islamic crypto exchange community grows with addition of another Bahraini licensed platform

Another Islamic cryptocurrency exchange joins the exclusive circle of fully licensed and operating digital assets exchanges globally, adding another feather to Bahrain’s Islamic fintech...

Islamic social cryptos underway as part of Malaysian–Singaporean partnership

Singapore-headquartered Algorand and Kuala Lumpur-based IBF Net will be joining forces to engineer and launch to market a range of blockchain-based solutions including social...

Most Popular

Digital banking

Bank Islam: Digital transformation in pursuit of public listing

In preparation to becoming Malaysia’s first public-listed Islamic bank, Bank Islam Malaysia (BIMB) is sparing no effort and has decidedly taken a digital pivot...

Codebase Technologies forges alliance with Union of Arab Banks

Hot on the heels of its alliance with London-based Payment Components, Codebase Technologies (CBT) has forged another partnership amid an aggressive expansion plan. The most...

Bank Islam’s partnership with digital app TheNoor could boost Shariah financial services

As the Islamic finance industry becomes even more competitive driven by fintech, incumbent financial institutions are compelled to become more creative in expanding their...

Regulations

Islamic fintech and digitization – integral part of Indonesia’s 2021-25 masterplan

The Indonesian financial regulator is preparing to engineer a holistic Islamic financial product ecosystem which includes digitizing Shariah instruments and rolling out new supporting...

Open banking and debt crowdfunding: Saudi takes action

The Central Bank of Saudi Arabia (SAMA) has finalized regulations for debt crowdfunding activities following a six-month market consultation period initiated in July 2020,...

Indonesia embraces securities crowdfunding as it turns to tech to develop capital markets

Starting 2021 on a productive note, the Indonesian Financial Services Authority, Otoritas Jasa Keuangan (OJK), has officially introduced securities crowdfunding to the Republic as...

P2P & Crowdfunding

Saudi SMEs poised for new Islamic financing options as fintech start-up secures investment

Saudi fintech and peer-to-peer (P2P) lending platform Raqamyah has secured a US$2.3 million investment round that is expected to support its Islamic financing offerings...

CapBay closes US$20 million Series A round

Kuala Lumpur-based digital supply chain financier CapBay has secured US$20 million in Series A funding from a Singaporean venture capital (VC) firm which will...

Open banking and debt crowdfunding: Saudi takes action

The Central Bank of Saudi Arabia (SAMA) has finalized regulations for debt crowdfunding activities following a six-month market consultation period initiated in July 2020,...

trading & investment

New Islamic financing platform for Malaysian credit companies

Kuala Lumpur-based Sedania As Salam Capital (SASC) is expanding its tech repertoire with a new platform to support Shariah compliant credit companies. Known as GoHalal...

New commodity Murabahah platform enters the market

The world’s largest interdealer broker is making its presence felt in the Islamic finance world through its subsidiary Tullett Prebon which has entered the...

Fintech start-ups new opportunity for commodity Murabahah broker as transaction volume from banks dips

Commodity Murabahah business from traditional Islamic financial institutions may have taken a hit due to the pandemic, but for broker Eiger Trading Advisors, this...

robo-advisory

Sarwa upgrades infrastructure to support growth strategy

Robo-advisor Sarwa has rolled out Sarwa X, an upgraded version of Sarwa Classic, with enhancements facilitating more efficient funding and investment processes as the...

Saudi licenses new robo advisor

The Capital Market Authority of Saudi Arabia has granted DFN Road Company a financial technology experimental permit (ExPermit) to experiment with robo-advisory service. The...

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 so far...

Payments

Walking the talk: Dukhan Bank builds digital transformation promise

In October 2020, when Barwa Bank unveiled its new brand identity — Dukhan Bank — following its merger with the International Bank of Qatar,...

QIB boosts corporate banking digital capabilities

Qatar Islamic Bank (QIB) has rolled out another digital product targeting its corporate clients as it works toward fully digitizing its suite of corporate...

Codebase Technologies expands open banking capabilities

Open banking solutions provider Codebase Technologies, which services the Islamic banking industry, is expanding its payment capabilities by partnering with PaymentComponents as the two...