Raja Teh Maimunah

#Innovation in #Islamic #finance

Although Malaysia is a leader in Islamic finance research, very few of the research papers published have translated into feasible innovations, until recently. To help push the sector forward and bring the research and ideas to fruition, International Centre for Education in Islamic Finance, with the support of Bank Negara Malaysia, the Association of Islamic Banking Institutions Malaysia and the Malaysian Takaful Association, recently held the Islamic Finance InnoFest 2016. For this festival, INCEIF accepted idea submissions from all over the world, including Japan, Australia and Pakistan, to promote inclusiveness.

“We believe that to really push for innovation, we cannot be stuck in a silo. That is why it is not limited to only Malaysians,” says Associate Professor Dr Baharom Abdul Hamid, director at INCEIF’s Centre of Research and Publication and InnoFest chairman.

How #Digitization Could Impact #Islamic Finance

Hong Leong Islamic Bank's CEO Raja Teh Maimunah says the barrier of digitization is the fear of IT security and nervousness of regulators. But fintechs are here and have a high growth potential. The face to face service is an oldschool approach, what matters today is what banks can provide from a technology perspective.

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