Fintech Growth Will Help Drive Increased Zakat and Voluntary Giving: IslamicMarkets Research  

Annual financial value of Zakat and voluntary giving is anticipated to grow over the next five years. Growth of fintech firms and digitalisation of financial services as the key contributor to expansion of voluntary giving. This research was conducted among 346 leading Islamic finance professionals working across sectors by IslamicMarkets.com during August 2022.

Developments in fintech and digitalisation will be a major contributor to growth in the annual financial value of Zakat, as well as voluntary giving such as Sadaqah donations and Waqf endowments.

The research, conducted by IslamicMarkets.com to support the Global Islamic Finance Forum 2022 (GIFF2022) set to take place on the 5th - 6th of October 2022, found 84% of Islamic finance professionals believe that...