Offa, a UK-based Islamic property finance Fintech, has acquired Bank of Ireland’s Alburaq Sharia-compliant home finance portfolio in a deal including over 350 home purchase plans. The deal means that the customers transferred over to Offa will reportedly have access to a broader “range of… Read More
Algbra, the global ethical and Sharia-compliant technology platform with its UK finance app, has been awarded B Corp status “after demonstrating its credentials of the highest ESG standards.” This reportedly makes Algbra one of the few financial institutions in the UK “to achieve this status,… Read More
Qardus, which claims to be an ethical & Sharia-compliant financing platform for social impact SMEs and investors, has secured 106% (£318,837) of its £300,002 target from 153 investors (at the time of writing) with 17 days left in the firm’s crowdfunding campaign carried out via… Read More
Paymentology, the global issuer-processor, announces a strategic partnership with Nomo Bank, which claims to be the world’s “first” fully digital Sharia-compliant cross-border bank. Nomo, part of the Bank of London and The Middle East (BLME), and backed by Boubyan Bank, “offers Middle East customers a… Read More
The newly formed financing firm in Saudi Arabia, Positive Facilities Co. Ltd. (Ejabiah), has reportedly entered an agreement with Path Solutions for the introduction of its interest-free Core banking platform. Ejabiah will be providing a unique 0% interest financing product, which is somewhat similar to… Read More
WealthKernel, a Wealthtech solution provider for digital investment services, reveals that the US halal (Islamic) and ethical-focused investment company, Wahed, has now migrated its investment offering to WealthKernel’s “trusted” APIs. Wahed had teamed up with WealthKernel back in 2017 in order to use its white-label… Read More
IFIN (Islamic Finance Initiation Network), the Islamic Fintech firm, has introduced its operations in the Sultanate of Oman by teaming up with Alizz Islamic Bank and Danube Home. Bahrain-based IFIN, a company that digitally connects Islamic finance service providers to retail outlets, aims to offer… Read More
MyMy revealed on Monday (April 26, 2021) that it has obtained conditional approval for a large scheme E-money license from Bank Negara Malaysia, the nation’s central bank. The Fintech firm is now planning to launch its digital wallet services in the coming year. Until all… Read More
Fitch Ratings reports that the Islamic banking ecosystem in Oman is expected to continue growing during 2021-2022 after rather strong momentum last year. This, despite the COVID-19 outbreak and historically low oil prices, Fitch Ratings noted. Islamic financing in the MENA region country expanded by… Read More
Qatar’s Islamic or Sharia-compliant Fintech sector is on track to record significant growth in the next 5 years, according to local sources. As digital transformations accelerate Islamic finance ecosystems worldwide, we are happy to share with you the Global Islamic Fintech Report 2021 produced by… Read More
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