INCEIF: Islamic fintech holds potential to provide inclusive, sustainable financial solutions in MalaysiaA bird's-eye view of Kuala Lumpur July 8, 2020. — Picture by Hari AnggaraKUALA LUMPUR, April 20 — Developing Islamic financial technology is more important now, particularly in catering to the financial needs of small and medium enterprises and the B40 community with the adversity created by the pandemic.
“Islamic Fintech in Malaysia is growing rather well with three per cent in 2019 and up to 2020, we have slightly more than six per cent, and we hope that Malaysia can continue to be the hub for Islamic Fintech globally,” he said at the 8th Malaysian Financial Planning Council e-conference On Shariah Wealth Management and Financial Planning today.
Meanwhile, Securities Commission Malaysia chairman Datuk Syed Zaid Albar in his speech said the ongoing pandemic has disrupted the way people interact socially as well as in business transactions. “Similarly, in Malaysia, we also see a marked increase in retail interest not just in stocks and shares but in digital offerings as well,” he said.