Sunday, July 21, 2024
Editor's PickHaqq Association partners with IIUM to explore fintech endowment fund

Haqq Association partners with IIUM to explore fintech endowment fund

Haqq Association, a non-profit focused on Islamic fintech and blockchain, has partnered with the International Islamic University Malaysia (IIUM) to explore, among others, potentially setting up a research endowment fund for fintech.

Haqq Association’s community-run blockchain uses Islamic Coin as its native currency. The MoU signed between the Swiss entity and IIUM will also see both parties collaborating on student and staff mobility exchanges and internships as well as students’ sponsorship and financial assistance, according to IIUM. The university, through the IIUM Institute of Islamic Banking and Finance, will be spearheading research and publication as well as co-organizing discourse series and conferences.

This collaboration follows Islamic Coin’s recent announcement of a US$40 million grants and investment program to support Shariah compliant projects benefitting the project’s ecosystem.

Islamic Coin is certified Shariah compliant by a five-member Shariah board led by Sheikh Dr Nizam Mohammed Saleh Yaquby last June. It raised US$200 million in July last year and is backed by members of the royal families of Dubai and Abu Dhabi.

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