Friday, March 29, 2024
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Canadian tokenization platform in advanced stages...

IFN Fintech has learned that Canadian tokenization platform Al Mabrook Financial is in the “final stages” of securing a license in El Savador, just as it gained Shariah approval for its business model.

Islamic crowdfunding group sets up VC...

Malaysian Islamic crowdfunding group Ethis has unveiled HASAN, a venture capital (VC) and accelerator program designed to support Halal start-ups in Southeast Asia and the GCC.

Warba partners with Taskeen

Warba Bank has partnered with digital service provider for the rental property owners’ sector Taskeen Real Estate to provide real estate management services to its clients

Bank Muamalat Malaysia shifts to cloud-based...

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 bank.

Rakeez Capital lands US$2 million investment

Saudi Islamic fintech company Rakeez Capital has raised U$2 million in seed capital in a round led by Core Vision Investments. The start-up will use the funding to develop its debt and investment offerings including incorporating artificial intelligence (AI) into its solutions.

Islamic Bank Australia gives up banking...

The first, and only, fully-fledged Shariah compliant bank in Australia has surrendered its restricted banking license to the Australia Prudential Regulation Authority (APRA) due to struggles in raising the capital needed to maintain the hard-earned license, the neobank confirmed.

IDLC adopts AbabilNG

BANGLADESH: IDLC Finance has adopted Millennium Information Solution’s Islamic core banking solution AbabilNG, according to a LinkedIn post.

Mamun Ventures allocates funding

GLOBAL: Mamun Ventures, the venture capital arm of Shariah compliant fintech start-up mamun, has allocated US$1 million in funding...

New Islamic digital bank to launch...

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.

AlinmaPay becomes Sukna Ventures’s limited partner

SAUDI ARABIA: AlinmaPay, the fintech arm of Alinma Bank, has become Sukna Ventures’s limited partner and strategic partner, according...

Traditional investment channels evolving into hybrid...

The Islamic fintech and digital investment sectors are rapidly growing, underlining a significant shift in the financial habits and preferences of Islamic investors worldwide.

Islamic charity app receives upgrade to...

Singapore-based IBF DigiLabs has overhauled its Shariah compliant charity app in a bid to optimize charitable action using blockchain technology.

Saudi Islamic fintech community grows with...

Riyadh-based Thara Investment Company, a Shariah compliant private family office, has won a license from the Saudi Central Bank (SAMA) to offer debt-based crowdfunding solutions.

Purchase of shares with Bursa Gold...

Bursa Malaysia launched the Bursa Gold Dinar (BGD), a digital platform to buy and sell 24k gold, as part of its repositioning as a multi-asset exchange on the 16th January this year. The ability to purchase stocks on Bursa Malaysia with the BGD may be in the cards “far down the line”, according to Umar Swift, CEO of Bursa Malaysia.

Saudi subsidiary of Hong Kong brokerage...

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 officially launched its Shariah compliant trading app, Sahm.

Digital lending sector gravitating toward open...

The exponential rise of digital financing has brought forth new risks and threats for banks and financial institutions, but it has also led to the emergence of new trends and pockets of opportunities, according to one expert.

Sedania As Salam Capital and Wasiyyah...

Estate planning is a major challenge in Malaysia, with the upper bound of frozen assets in the country estimated at RM90 billion (US$19.36 billion). ISFI, the sister publication of IFN Fintech, spoke to Ariffin Sabirin, the founder of Wasiyyah Shoppe, and Khairul Nisa Ismail, CEO of Sedania As Salam Capital, about how they are collaborating to address the estate planning challenge for Muslims with the Hibah instrument.

Milestones and challenges in Egypt’s digital...

With a population exceeding 100 million, of which 67% are unbanked and underserved, Egypt faces the imperative of formulating a robust financial inclusion strategy centered around the adoption of financial technology.