Global Islamic Fintech Report 2019
Islamic finance has a big job on its hands. The Global Islamic Economy Report 2019 estimates that the industry is expecting strong growth and will reach USD 3.5 trillion in assets by 2024. At the same time, some of the most acute challenges of poverty, inequality and financial exclusion exist within the Islamic world. Large demographic shifts, with significant volumes of youth entering the workforce, are expected to compound these issues. Islamic finance needs to play a more effective role as a solution to these challenges. Islamic FinTech offers the Islamic finance sector the opportunity to become more applicable to a global Muslim audience and beyond.