Reports

First Abu Dhabi Bank pilots new payment platform for merchants

The largest bank in the UAE has launched a pilot payment solution designed for merchants, with a view of rolling out at a larger scale in the coming months.   The new service by First Abu Dhabi Bank (FAB) consolidates all the payment...


Newsflash

AmBank introduces APIs to facilitate digital customer on-boarding and online acquisition for Rakuten Trade

AmBank, which offers Islamic solutions, has introduced application programming interfaces (APIs) powered by DuitNow to facilitate Rakuten Trade’s online acquisition and on-boarding of new customers. The DuitNow platform, operated by Payment...


Newsflash

MRC proposes changes to Iranian crypto mining rules

The Majlis Research Center (MRC) of Iran has called for changes to cryptocurrency mining regulations to make the industry more profitable for miners and the economy, Financial Tribune reported. The changes include requiring the Energy Ministry...


Reports

New digital Islamic bank in the making as Kuwait’s largest Islamic bank set to acquire Bahraini lender

After over a year since it announced its intentions to take over Ahli United Bank (AUB), Kuwait Finance House (KFH) is ready to make an offer to acquire the Bahraini financier, in a move that would not only create one of the largest banks in the...


Cover Story

Kazakhstan to welcome first Islamic digital bank – a Qatari-led initiative

Astana International Financial Center (AIFC) is preparing to issue its first Islamic digital banking license in the coming months to a Qatari financial institution, a move the financial center hopes would boost its repertoire as a regional Shariah...


Reports

Bangladeshi Islamic bank banking on new digital bank subsidiary to capture larger market share

Al-Arafah Islami Bank is waiting for final regulatory approval to establish a new standalone Islamic mobile bank designed to capture new market shares and achieve greater financial inclusion in a country often touted as mobile-first. Al-Arafah...


Reports

Could going digital be the shot-in-the-arm for Libya’s ailing Shariah finance industry?

Described by some as dead in the water, Islamic banking never took off in a meaningful way in war-stricken Libya despite efforts to convert its entire financial system to comply with Shariah laws. But one bank is attempting to change the tides with...


Reports

Saudi Arabia readies itself for virtual banks with new regulations

Preparing to usher the Kingdom’s banking sector into the digital era, Saudi Arabian Monetary Authority has issued new regulations for digital banks amid efforts to diversify its oil-reliant economy as per Saudi Vision 2030. The Additional...


Feature

World Islamic Fintech Awards 2019: Strength in diversity

After a global call for nominations and a lengthy deliberation process, IFN Fintech is pleased to reveal the winners of the prestigious World Islamic Fintech Awards for the year 2019. The nominations-based independent awards received 135...


Reports

Pakistan to announce first cohort of regulatory sandbox soon

The Securities and Exchange Commission of Pakistan (SECP) is inviting its regulatees as well as fintech start-ups to join the first cohort of its regulatory sandbox as the regulator ramps up efforts to encourage financial innovation. Opened...