Journey to a new dawn - Islamic Finance: History, challenges and opportunities
Islamic finance has a rich history that spans over 1400 years. While the sector is modernizing and projected to grow by 10% for 2023-2024, it still faces challenges that IFSIs need to address through innovative and collaborative approaches.
Default Finastra
Watch Dr. Jamil Jaroudi, Samir Safa and Tim Tyler for this Fintech Fika as they discuss a host of topics including:
- Limited awareness and knowledge of Islamic finance products and services
- Need for more regulatory clarity and harmonization
- Shortage of Shariah-compliant monetary policy instruments
- Weak liquidity management putting IFIs at a disadvantage to conventional banks
- Heavy dependence on conventional banks by mocking up conventional products and services due to lack of expertise and innovation among IFSI practitioners
- Inefficient operations with high cost-to-income ratio
Speakers
Jamil
Jaroudi
Islamic Finance Expert
Samir
Safa
Global Industry Lead
Finastra
Tim
Tyler
Head of Strategic Advisory
Finastra
