• HelloGold targets US$9.6 million from token sale

    The industry’s first certified Shariah compliant digital gold app is now finalizing details of its maiden token sale it hopes would rake in at least U$8 million to fund its international expansion strategy. Robin Lee was careful in terming...

Volume 1 Issue 5

August 2017


Monami Tech bridging gap between Muslim millennials and banks with new Shariah compliant solutions

A Dubai-based fintech start-up is developing Shariah compliant proprietary technology targeting the Muslim Gen Y market banks want to tap. For the team behind Monami Tech, it was an easy decision from the get-go to tap the Muslim market of the...


NowMoney pilots in the UAE; Saudi and Bahrain next

As a banker in the UK who had spent time in the Middle East, it did not take long for Ian Dillon to recognize that there are real commercial opportunities in a segment that has been left outside the GCC banking system: low-income migrant. ...


Liberis to trial Shariah compliant product, potentially paving the way to becoming an Islamic fintech firm

A UK-based digital provider of business cash advance (BCA) will be launching a trial phase for a Shariah compliant version of its product, the outcome of which will assist the government-backed financier in deciding whether to take the Islamic...


SuperCharger lands in Malaysia; Islamic fintech a focus

SuperCharger Fintech Accelerator has opened its doors in Malaysia, confirming an earlier report by IFN Fintech in May. When IFN Fintech first broke the story in May (See IFN Fintech May Issue: ‘StanChart plans KL accelerator; eyes Islamic...


Beehive – from taking baby steps to soaring high

Dubai’s first regulated peer-to-peer lender has extended an Islamic finance facility to an e-commerce firm – a facility guaranteed by the financial arm of Dubai SME. Recall that in June, IFN Fintech had reported on the partnership between...


Bahrain’s new crowdfunding regulations obviate retail market; only allowing person-to-business financing

The Central Bank of Bahrain (CBB) has begun to formally regulate Islamic and conventional crowdfunding businesses in its efforts to become a regional Shariah fintech center. Apart from having to comply with existing rules on anti-money...


DFSA rolls out crowdfunding framework

After months of consultation, the Dubai Financial Services Authority (DFSA) has finally formalized a tailored regime for loan and investment crowdfunding platforms, opening another avenue for Shariah compliant services. The regulation, the...


RAKBANK to capture SMEs with new trade finance fintech alliance

From being the first Middle Eastern bank to adopt Samsung Pay, the National Bank of Ras Al Khaimah (RAKBANK) now also has the honor of being the first bank in the region to have engaged with a fintech platform targeting specifically the SME. ...


South Africa’s Absa picks machine over man; launches Virtual Investor

Swiftly after aligning itself with a big data firm, Barclays Africa Group’s South African arm continues to bolster its fintech capabilities with an automated digital investment platform to access a wider customer base. Absa Bank, which offers...


Abu Dhabi making new fintech friends

As the race to become a regional Islamic fintech hub intensifies, Abu Dhabi revs up its engine by gathering allies in Europe and Asia. Abu Dhabi Global Market (ADGM) has been busy. Over the last month, the international financial center has been...


Bank Negara Malaysia-led Islamic fintech initiative gains new sponsor

RHB Islamic Bank has joined the six-member consortium of Investment Account Platform (IAP) to become its first non-shareholder sponsoring bank. With RHB Islamic signing a sponsoring bank agreement with IAP Integrated, the owner and operator of...


Islamic finance veteran joins data analytics start-up

Hardly a month into his retirement, Daud Vicary Abdullah has been invited to be the founding member of the advisory board to Finalytix, a Silicon Valley financial analytics start-up. In his new capacity, the seasoned Islamic finance professional...


Bank Islam goes digital

Malaysia’s oldest Islamic bank is turning to a Fortune 500 firm to transform its capabilities to be more in line with the digital age, with eyes on rolling out fintech solutions by next year. Bank Islam is looking to leverage on fintech to...


Pocketing profit: GCC banks pay attention to digital wallets

The past month saw a string of banks in the Middle East tailoring payment solutions with new mobile wallets and enhanced digital services. From Kuwait to the UAE and Oman, Islamic financial services providers have introduced new or revamped...

  • Volume 1 Issue 1

    Date of Issue: April 2017
  • Volume 1 Issue 2

    Date of Issue: May 2017
  • Volume 1 Issue 3

    Date of Issue: June 2017
  • Volume 1 Issue 4

    Date of Issue: July 2017
  • Volume 1 Issue 5

    Date of Issue: August 2017

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