Emerging Fintech Solutions Cater to Islamic Finance Investors

Islamic finance has become a USD 2 trillion industry across the globe over the past two decades, according to Standard & Poor’s (S&P). However, given the complex standards established by a number of Islamic bodies, it has become challenging for potential investors to identify an investment as Halal. S&P highlighted that fintech could support industry growth by facilitating faster and easier transactions.

Emerging fintech platforms such as the Zoya mobile application, which screens US-listed stocks based on criteria issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), assists young investors to select Shariah-compliant investments. Similarly, Wahed Invest, a US-based H...