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IFN Indonesia Forum 2022

Global Islamic Fintech Report 2018

The song of the industry at the moment is ostensibly one of disruption instigated by fintech, but listen closely and you will realize that the industry is instead singing a tune of collaboration. Like any traditional financial institutions, Islamic financial institutions are bogged down by legacy issues, bureaucratic inertia and operational inefficiencies, while being additionally disadvantaged in terms of economies of scale. Industry practitioners are increasingly embracing the fintech ‘revolution’ to drive their next phase of growth. These were major themes at the inaugural Global Islamic Fintech Huddle which took place in Bahrain. Opportunities abound but so are pain points. Yet, none can deny that it is indeed exciting times ahead for the industry.