IslamicFinance.de

Islamic finance is one of the fastest growing areas of international finance. The mid 1990s saw Islamic finance offer a limited number of services, but today it is a fully integrated financial system which spans continents. Modernisation of the practice has also been driven by technological advances. New services such as online and mobile banking and payment services are essential. Financial institutions are also responding to the emergence of digital currencies and the blockchain which underpins them. The Islamic finance market is embracing both fintech and robo-advisors to analyse thousands of global securities and pinpoint those with the highest growth potential. An example of a robo-advisory firm in the Islamic finance market is Wahed Invest. Aside from FinTech, other Islamic microfinance models have had a larger impact over the last couple of years. Platforms such as Micro-Takaful and social finance have gained traction. FinTech is ideally suited to achieving Shariah compliance and will continue to prosper along with Islamic finance.