Islamic Fintech Gains in Popularity Amongst OIC Nations Providing Mechanism for Ethical Finance: HOF Capital

Over the past five years, Islamic fintech has shown robust potential, according to Tala Al-Jabri, Partner at HOF Capital. In particular, opportunities lie in Shariah-compliant digital banks that target Muslim-majority nations, providing a gateway into ethical financing.

Why it Matters?

Within the Organisation of Islamic Cooperation (OIC) nations, Islamic fintech was valued at USD 49 billion (based on transaction volume) in 2020, accounting for 0.7% of global fintech transactions. Islamic fintech has emerged as the fastest growing segment in the financial technology industry, with Saudi Arabia and the United Arab Emirates emerging as leaders, based on transaction volume.

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