New alliance to boost development of Islamic fintech for Muslim communities
Photo: IFT Alliance members at the launch event on April 1, 2016 in Kuala Lumpur / Courtesy IFT Alliance
A first-of-its-kind Islamic Fintech Alliance (IFT Alliance) says it wants to be the reference point for knowledge and advice, and facilitate business matching between investors and entrepreneurs to develop a Shariah-compliant fintech ecosystem.
Launched on April 1 in Kuala Lumpur IFT Alliance counts eight crowdfunding platforms operating across eight countries and territories as founding members.
The alliance’s chairman and founder of EthisCrowd.com Umar Munshi told Salaam Gateway, "While we recognise the importance of fintech, the Muslim community is behind in this space. The Alliance was set up to boost the growth of fintech among Muslims with hopes that they bring significant positive impact especially to those in developing countries.”
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Zurinna Raja Adam