IFN Fintech

Guided by the twin pillars of digital and value-based intermediation (VBI), Malaysia’s Hong Leong Islamic Bank (HLISB) has partnered with fintech start-ups to roll out a new social finance program.

Bahrain-based Arab Financial Services (AFS) has launched its acquiring and payment acceptance services in Egypt, following the approval granted by the Central Bank of Egypt.

Pak Qatar General Takaful of the Pak Qatar Group has signed an MoU with...

Pakistan’s largest Islamic bank Meezan and Coca-Cola Beverages Pakistan have launched a Shariah compliant digital supply chain financing platform in partnership with Islamic B2B fintech company Haball.

UK-based Islamic banking start-up MoneeMint is integrating open banking platform Bud’s Engage solutions to help enable the app deliver greater transparency and a personal and Shariah compliant banking experience for its customers.

Dubai Islamic Bank (DIB) has partnered with the UAE’s Ministry of Interior (MOI) to provide electronic know-your-customer (eKYC) capabilities to its customers through the MOI’s digital verification face gateway service.

The Saudi Capital Market Authority has granted a Financial Technology Experimental Permit to Dinar Investments Company

Malaysia's AmBank and Merchantrade have launched the Hybrid eWallet, where the Merchantrade Money eWallet is integrated with the AmBank Islamic Hybrid Current Account-i (hCA-i) allowing eWallet users to enjoy the benefits of an Islamic current account.

ACS Digital, one of the two Islamic digital bank licensees of Bank Negara Malaysia, has named Poorani Ramachandran as its CFO.

Ajman Bank has signed a partnership agreement with VaultsPay to expand its existing payments business capabilities and provide its customers with digital access to a suite of financial services in the UAE.

Jordan-based liwwa has secured US$18.5 million in pre-series B funding comprising equity and debt funding which it will channel toward supporting its expansion plans.

Bahrain-based Arab Financial Services (AFS) has signed an agreement with Libya-based Al Wafa Bank to provide prepaid card processing services and digital payments value-added services to the latter.

Bank Negara Malaysia (BNM) and Securities Commission Malaysia (SC) have awarded the inaugural Impact Challenge Prize to Indonesia’s duithape and Malaysia-based Pod and concurrently presented Islamic fintech entrepreneur Umar Abdullah Mahmud Munshi with the Impact Challenge Prize

Pakistan’s largest Islamic bank Meezan Bank and B2B Islamic fintech Haball have rolled out a digital supply chain finance platform, Wisaaq.

The Saudi Central Bank (SAMA) has licensed Wally Global Arabia, Sanam Aliliddikhar for Information Technology, Istishraf Al-Bayanat for Financial Technology and Spare Arabian Financial Company to provide open banking solutions under its regulatory sandbox, bringing the number of permitted fintech firms to 42

UK-based Islamic fintech start-up Kestrl will be developing and implementing personal finance management (PFM) features for Bank Islam Malaysia’s new digital bank proposition, Be U, broadening Kestrl’s remit from being a consumer app offering into a software-as-a-service provider.

The Securities Commission Malaysia (SC) is seeking the public’s feedback on a proposed regulatory framework relating to the management of technology risks by capital market entities.

Abu Dhabi Islamic Bank (ADIB) is observing a substantial shift among its customers toward digital financial services as the number of transactions on its corporate digital banking platform rose 88% year-on-year amid a reduction in branch-facilitated financial activities.

Al Sanam Islamic Bank, a newly-established Islamic bank in Iraq, has selected ICS BANKS Islamic Banking software solution from ICS Financial Systems (ICSFS) as it looks to launch Shariah compliant financing products supported by robust digital banking capabilities.

Al Rajhi Bank Malaysia has partnered with financial risk management platform Feedzai to provide security for its digital bank.

Qatar Islamic Bank (QIB) has launched five new features on its mobile app including...

Kuala Lumpur-based Principal Asset Management has expanded its Shariah digital investment portfolio in collaboration with the Touch ‘n Go e-wallet, building on its commitment to digital-driven financial inclusivity.

Dubai Islamic Bank (DIB) has become the first Islamic bank to go live with...

Funding Societies, which offers Islamic fintech solutions, is acquiring regional payment solution CardUp for an undisclosed amount, in a bid to expand its lending and financing business to include payment.