Islamic Fintech Firms Number 142 Globally at the end of July 2020: IFN Islamic Fintech

According to IFN Islamic Fintech (IFN), as at the 30th of July 2020, the global Islamic fintech industry comprises 142 firms. This compares to 127 firms reported at the end of June 2020.

According to IFN, the United Kingdom leads the count with 27 companies offering Shariah-compliant financial products and services, with Malaysia hosting the second largest number of Islamic fintech firms at 19. This is followed by the United Arab Emirates (15), Indonesia (13), Saudi Arabia (9), and the United States of America (9).

The report also outlined key strategic priorities for Malaysia and Qatar, in the development of Islamic Fintech in their respective countries. In Malaysia, for example, t...