Islamic fintech provides framework for future of global finance

In this age of disruption and digitisation, Islamic fintech, built on Sharia-embedded ethical values of fairness, justice and equity, is poised to drive the global finance industry to its next phase of evolution and opportunity.

With more customers demanding ethical banking practices, Islamic fintech offers an attractive alternative for a younger, technologically-minded customer base.

As governments implement forward-leaning policies to support their development, it is also imperative that regulations continue to evolve in tandem, safeguarding the sector as it continues to grow.

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Higher oil prices lead to drop in GCC sukuk issuance in first half

Higher oil prices have reduced sovereign funding needs in the GCC countries in the first half, leading to flat or slightly lower global sukuk issuance this year, Moody’s Investors Service said in a report on Tuesday.

The adoption by the UAE of certain Shariah-compliance standards (the Accounting and Auditing Organization for Islamic Financial Institutions’ Sharia Standard 59) has also slowed issuance of sukuk from the Gulf, according to Reuters quoting unnamed sources.

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