Fintechs to be the New Growth Driver of the Islamic Finance Industry: PwC Qatar

Fintechs are being viewed as the new catalyst for growth in the banking sector, according to Burak Zatiturk, PwC Qatar Financial Services Leader. In an interview with local media, Zatiturk discussed the role of Fintechs in improving cost-effectiveness, accessibility, security and inclusion within the banking sector. Added to this, Fintechs are anticipated to support in further developing financial products as well as access to domestic capital, leading to improved expertise and customer intimacy between banks and their customers.

More specifically, the Islamic finance industry is expected to leverage on Fintechs as a new growth driver. Zatiturk noted that the Sukuk market has fueled the growth of Islamic finance globall...