Dubai: Demand for software solutions for the $800 billion global Islamic banking and financial services sector is growing, while credible Sharia-compliant products and solutions are much less in the market, say software developers.
“Islamic banking is one of the fastest-growing financial services sectors in the world. However, credible software solutions for the Sharia compliant financial services are much less compared to the requirements,” said Mohammad Hussain, managing director of Millennium Information Solutions (MIS), a company which pioneers software solutions for Islamic banks and financial institutions.