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Islamic Fintech

Malaysia's fintech industry slow to capitalize on Islamic finance growth

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Malaysia's fintech industry slow to capitalize on Islamic finance growth

Malaysia's Islamic financial technology companies are making slow progress in a booming Islamic finance market, amid competition from large local banks and a lack of funding and product offerings.

28 Jun 2022

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A look at the digital bank plans of AEON Credit, Al Rajhi and Bank Islam

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A look at the digital bank plans of AEON Credit, Al Rajhi and Bank Islam

BANK Negara Malaysia may have awarded only five digital bank (DB) licences recently, but there are certainly more DBs coming into the market, especially in the Islamic space.

01 Jun 2022

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Opportunities Galore for Fintech Development in Islamic Finance

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Opportunities Galore for Fintech Development in Islamic Finance

With our planet being home to almost two billion Muslims and Islam being one of the world’s fastest-growing religions, it should come as no surprise that Islamic finance has become a powerhouse sector in recent years. Indeed, at more than $2.7 trillion in assets, one recent estimate put the Islamic-finance market at 6 percent of the world’s total. And yet fintech (financial technology) solutions within this sector continue to lag in funding and innovation. As such, the next few years could see a multitude of opportunities for disruption dramatically transform the Islamic-finance space.  

18 May 2022

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Five successful applicants for the digital bank licences

press release

Five successful applicants for the digital bank licences

Bank Negara Malaysia (BNM) wishes to announce the five successful applicants for the digital bank licences as approved by the Minister of Finance Malaysia.

05 May 2022

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ARBM, Moneythor to implement PFM features in digital bank

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ARBM, Moneythor to implement PFM features in digital bank

Al Rajhi Bank Malaysia (ARBM), a subsidiary of Al Rajhi Bank of Saudi Arabia has selected Moneythor, a leading digital banking solution provider to implement innovative personal financial management (PFM) features in its upcoming digital bank in Malaysia.

26 Apr 2022

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SC: Fintech to be leveraged as innovative solution enabler in M’sian Islamic capital market

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SC: Fintech to be leveraged as innovative solution enabler in M’sian Islamic capital market

Financial technology (fintech) will be leveraged as an enabler for innovative solutions focusing on the halal economy, socially responsible investing (SRI) and Islamic social finance to further grow the Malaysian Islamic capital market (ICM), says the Securities Commission Malaysia (SC).

14 Apr 2022

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Islamic fintech needs conducive ecosystem for exponential growth

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Islamic fintech needs conducive ecosystem for exponential growth

The global Islamic fintech market needs a conducive ecosystem in order to achieve exponential growth potential, according to Maybank chairman Tan Sri Zamzamzairani Mohd Isa.

22 Mar 2022

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Islamic fintech is primed for growth in 2022

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Islamic fintech is primed for growth in 2022

Fintech’s ability to maintain consistently high growth demonstrates the long-term scalability of the sector. Challenger banks have demonstrated how technology can be leveraged to enhance the delivery of financial services for consumers, investors, and banks. While these challenger entities command a growing market share, big banks are also embracing the advantages of digital transformations to ensure they can meet the changing demands of their clients.​

31 Jan 2022

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Malaysia ready to become a global leader in Islamic fintech

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Malaysia ready to become a global leader in Islamic fintech

The Islamic fintech sector is undergoing rapid digitalisation, matching the speed of the digital transformation of the global finance industry.

03 Jan 2022

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