Islamic Fintech Report 2018: Current Landscape and Path Forward
This report is produced by growth strategy research and advisory firm DinarStandard, which is also Salaam Gateway's parent company. It sizes the landscape of Islamic fintech, including its global ecosystem, as well as gaps and opportunities in the industry.
This report has identified 90 Islamic fintech starts -ups globally that are delivering customer-facing financial
service solutions, 65 of which are providing peer-to-peer technology solutions to facilitate consumer and
business financing, and a further 14 of which enable deposits and transfers via blockchain technology. Indonesia, followed by the U.S., UAE and the UK, host the largest number of Islamic fintech start-ups.
Islamic fintech has substantial room for growth, however, with largely unaddressed opportunities in several areas, the three most significant of which are: (1) the leveraging of big data and AI in providing Islamic banking services; (2) the use of blockchain in facilitating the growth of Islamic trade finance, which at $186 billion is a fraction of the global $12 trillion trade finance industry; and (3) the use of AI in facilitating investments, in particular addressing
institutional investor needs.