Islamic finance industry needs a global ecosystem driven by tech
The overall macroeconomic conditions have contributed to a slowdown in economic and banking growth. To address the challenges, the industry must come together to create a global ecosystem for Islamic finance. Currently, there are several disconnected hubs that each operate at different stages of their development. Emerging and frontier Islamic finance markets have a clear disadvantage. The industry needs to work to create a global ecosystem, driven by technology, that can narrow the information gap so that institutions in Africa and America have the same access as institutions in Bahrain, Malaysia and the UAE.
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