Look Beyond Digitisation of Islamic Banks; Technology can Create Better Outcomes if It Incorporates ESG

CIBAFI survey highlights how much Islamic banks are moving from ‘digitisation’ to find new ‘FinTech solutions’As Islamic banks look into what their future customer, regulatory and investor expectations will include, responsible finance is cross-cutting across many areasResponsible finance isn’t something to ‘add’ onto traditional concerns about technology, risk management or shareholder expectations; it is integral to all of them

Before Covid-19, Islamic banks faced a technological transformation which had already been challenging for them. The pandemic has accelerated that transformation and prefaces new challenges as regulators grapple with the increase in Environmental, Social and Governance (ESG) risks f...