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Islamic Finance

IsDBI granted US patent for fintech-driven smart voucher platform


The Islamic Development Bank Institute (IsDBI) has received a US patent for its smart voucher system, a blockchain-based financial solution that supports disadvantaged communities through targeted service delivery.

The United States Patent and Trademark Office (USPTO) granted patent number 12282916 on April 22, 2025. The system was originally developed in 2018 and had previously been awarded a patent by the Intellectual Property Office of Singapore in 2021.

The Smart Voucher System enables regulatory bodies to authorize specific service providers, such as hospitals, schools, and privatized enterprises, to deliver goods and services to eligible beneficiaries. It is funded through sales tax revenues and functions as a tax-credit mechanism to support social impact financing tools.

The platform integrates three primary features: advancing financial inclusion, encouraging tax compliance through incentive mechanisms, and mobilizing resources via secure, token-backed vouchers.

Dr. Sami Al-Suwailem, acting director general of IsDBI, said the USPTO’s recognition reflects the Institute’s ongoing efforts to deliver innovative fintech solutions that address socio-economic challenges. He added that IsDBI actively engages with partners to scale the system and similar technologies across its member countries.


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Muhammad Ali Bandial