Islamic fintech holds potential to provide inclusive, sustainable financial solutions, says INCEIF

Developing Islamic financial technology (fintech) is more important now, particularly in catering to the financial needs of small and medium enterprises (SMEs) and the B40 community with the adversity created by the pandemic.

International Centre for Education in Islamic Finance (INCEIF) president and chief executive officer Prof Dr Mohd Azmi Omar said Covid-19 impacted the growth of Islamic finance, as it went down to single-digit growth in 2020 compared with double-digit growth from 2012 until 2019.

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