Wednesday, December 7, 2022

Vineeta Tan

1337 Ventures eyes full Shariah compliance

Malaysian venture capital firm 1337 Ventures, which also holds an equity crowdfunding (ECF) license, is working on transforming its entire operations to be in compliant with Islamic principles as it seeks to capture Shariah compliant deal flows.

ADIB joins blockchain-based trade finance platform

Abu Dhabi Islamic Bank (ADIB) has joined UAE Trade Connect (UTC), a national trade...

Funding Societies charts path toward neo banking while expanding...

Funding Societies, a provider of Halal peer-to-peer (P2P) finance, is laying the building blocks...

Islamic BNPLs collaborate to boost MSME digital financing in...

Two Shariah compliant buy-now-pay-later (BNPL) platforms in Pakistan, KalPay and Muawin, have joined hands to complement their respective offerings.

Halal gold crypto universe expands with new certified token

Amanie Advisors has granted Dubai-based ComTech a Shariah compliance certificate for its ComTech Gold Token (CGO).

Carbon-backed crypto gains Shariah compliance

As part of its growth strategy to widen its consumer base to include Muslim investors, US-based Carbon Market Exchange has secured a Fatwa certifying the Shariah compliance of its carbon-backed XCO2 token.

Wahed launches global ECF platform

Wahed has officially launched its global equity funding platform, another step in the Islamic robo-advisor’s journey toward establishing itself as a full-service Islamic fintech company.

Hejaz engages GBST

Australia's Hejaz Financial Services has signed a three-year agreement with GBST Digital through which...

SECP to regulate digital asset management companies

In a bid to boost retail participation in the capital market, the Securities and Exchange Commission of Pakistan (SECP) is banking on digital asset management companies (AMCs) to bridge the chasm. To this end, the regulator has released a concept note outlining the role of digital AMCs.

EZ Wage partners with Bank Alfalah

Singapore-based EZ Wage has signed an agreement with Bank Alfalah to act as its...

Fintech Accelerator Program: Wa’ed extends grants to three start-ups

Three Islamic fintech start-ups have won financial grants from Saudi Aramco Entrepreneurship Center (Wa’ed) as part of the Fintech Accelerator Program, an initiative by Saudi regulators.

MRHB Network lists token on Bitlocus as it plans...

MRHB Network has listed its $MRHB token on Bitlocus crypto exchange, which will aid the Halal crypto firm expand in Europe.

CoinMENA expands into Egyptian market

Islamic cryptocurrency trading platform CoinMENA has expanded its services to Egyptian investors from its home base of Bahrain, bringing the number of markets it serves to seven.

Kuwait’s first Islamic digital bank – nearing to realization?

A potential acquisition by Kuwait’s largest Islamic bank is nearing completion since the idea was first made public in 2017, and this is pushing forward a plan to introduce an Islamic digital bank in the State.

LDUN secures Fatwa for Islamic BNPL offering

LDUN is joining the growing community of Islamic buy-now-pay-later (BNPL) platforms in Saudi Arabia as analysts expect the BNPL sector to grow over 81% this year.

IMAN Invest begins building Islamic DeFi protocol on the...

Uzbek Islamic fintech start-up IMAN Invest is on an aggressive expansion push, preparing to enter new segments, including the Web3 space, as well as to foray into the South Asian market, having secured funding commitments.

Amartha eyes growth in Sumatera

Peer-to-peer financier Amartha Mikro Fintek has identified Sumatera, as a growth driver and has partnered with a regional bank to enhance its presence in Indonesia’s largest island.

Alinma Bank and FOODICS form fintech partnership as they...

Saudi Islamic financier Alinma Bank has formed a fintech partnership with FOODICS to enhance its digital offering to small business owners and micro businesses in the Kingdom.

AFS widens geographical reach with hub in Egypt  

Bahrain-based Arab Financial Services (AFS), which offers Islamic digital payment solutions, will be expanding its payment technology footprint to Egypt. The firm, owned by 37 financial institutions across the Middle East and Africa, has put together a new team to spearhead the operations of its Egyptian hub.  

Bank Islam to capture untapped consumer segment with newly...

Malaysia’s oldest Islamic bank has unveiled its cloud-native digital banking proposition, a move to capture the digital-native younger generation. It is targeting between 350,000 – 400,000 downloads for the app over the next 12 months.

Australia licenses its first Islamic bank – and it’s...

After about a decade crucial foundational work, IBA Group has finally received its long-awaited regulatory go-ahead to operate as Australia’s first-ever Islamic bank; and in an interesting turn of events, it will forgo the traditional brick-and-mortar approach and instead, go fully digital.

IOUpay appoints new chairman as it prepares Islamic fintech...

IOUpay has named Malaysian Islamic banking veteran Wan Asmadi Wan Ahmad as the non-executive chairman of its board of directors as the Australian public listed firm prepares to roll out an Islamic fintech product over the next few months.

Islamic BNPL start-up Tamara expands to the UAE

Buy-now-pay-later (BNPL) company Tamara has expanded beyond its home market of Saudi Arabia into...

Wahed Invest mines gold opportunity

Shariah robo adviser Wahed Invest has launched a physical gold portfolio in the UK, joining the growing community of Islamic fintech start-ups providing digital gold investment opportunities.