The UAE’s National Bonds has decided to go global with its fintech solutions so that it can support the Islamic Finance Industry.
Mohammed Qasim Al Ali, Group CEO of National Bonds, and Amelia Tan, Founder, and CEO of Freya Capital have signed a Memorandum of Understanding (MoU) with Encik Mahadhir Aziz, CEO of Malaysia Digital Economy Corporation, and Rehab Lootah, Deputy Group CEO of National Bonds.
Amelia Tan was accompanied by Encik Mahadhir Aziz, CEO of Malaysia Digital Economy Corporation (MDEC), and Gopi Ganesalingam, Chief Digital Industry Officer of MDEC.
Mohammed Qasim Al Ali, Group CEO; Hani Hussein, Group COO; and Saqib Mahmood, Group CCO represented National Bonds with Rehab Lootah at the signing of the MoU.
This will take Al Manassah’s state-of-the-art Sharia-compliant solutions to new frontiers.
Al Manassah simplifies liquidity management solutions for Islamic banking
Islamic fintech focuses on the use of technology to deliver Shariah-compliant financial solutions, products, services, and investments – and has been gradually gaining prominence. According to the IFN Islamic Fintech Landscape, 161 companies were registered as Islamic fintech entities throughout the world as of March 2021. Islamic fintech is based on Shariah principles, which advocate the well-being of humankind while integrating ethics and justice with fintech solutions.
This MoU will promote the growth of the Islamic digital economy in Malaysia and South East Asia.
This will also open doors to collaboration with regulators, financial institutions, and corporations.
The technology-based solution adheres to the Islamic finance guidelines and supports liquidity management through its efficient portal to potential partner government institutions and financial institutions in the region.
Rehab Lootah, Deputy Group CEO of National Bonds said that this partnership will support the ambition of bridging the gap in international markets for a reliable 24/7 Islamic fintech platform to address the evolving dynamics of the finance world.