IslamicFinance.de

According to Pew Research, the demand for Islamic financial technology is set to grow siginificantly, as the global Muslim population is expected to explode from less than two billion in 2015 to almost three billion by 2060. Malaysia, the UK and Indonesia are leading the race, ranking first, second and third respectively by number of Islamic fintech startups. However, fierce competition from Middle Eastern countries threatens their supremacy. In January, Bahraini banks created a consortium aiming to create fifteen fintech providers in five years. Last year, the Dubai International Finance Centre (DIFC) launched an accelerator called FinTech Hive. The UK has recently launched the crowdfunded property investment platform Yielders adding to established players including InsureHalal and Ethos Asset Facilitation Platform.