Sharia

Robo-Revolution in the Kingdom: KSA Robo-Advisory Market Zooms Ahead at 48% CAGR, Fueled by Tech Adoption and Millennials' Power: Ken Research

Retrieved on: 
Monday, February 26, 2024
International, Internet, Algorithm, Research, Traction, Investment, Growth, API, SAMA, Vision 2030, Sharia, KSA, Kingdom, Distribution, Financial adviser

Ken Research's insightful report, KSA Robo-Advisory in Wealth Management Market : Investing in the Future, delves into this dynamic market, projecting a remarkable 48% CAGR over the next five years.

Key Points: 
  • Ken Research's insightful report, KSA Robo-Advisory in Wealth Management Market : Investing in the Future, delves into this dynamic market, projecting a remarkable 48% CAGR over the next five years.
  • This press release summarizes the key findings and offers valuable insights for investors, financial institutions, and stakeholders seeking to capitalize on this flourishing trend.
  • Tech Adoption: Increasing internet and smartphone penetration, coupled with government initiatives like Vision 2030, creates a fertile ground for digital investment platforms.
  • Focus on Investor Education: Financial institutions and regulators are collaborating to educate investors about robo-advisors and promote responsible investment practices.

Robo-Revolution in the Kingdom: KSA Robo-Advisory Market Zooms Ahead at 48% CAGR, Fueled by Tech Adoption and Millennials' Power: Ken Research

Retrieved on: 
Monday, February 26, 2024
International, Internet, Algorithm, Research, Traction, Investment, Growth, API, SAMA, Vision 2030, Sharia, KSA, Kingdom, Distribution, Financial adviser

Ken Research's insightful report, KSA Robo-Advisory in Wealth Management Market : Investing in the Future, delves into this dynamic market, projecting a remarkable 48% CAGR over the next five years.

Key Points: 
  • Ken Research's insightful report, KSA Robo-Advisory in Wealth Management Market : Investing in the Future, delves into this dynamic market, projecting a remarkable 48% CAGR over the next five years.
  • This press release summarizes the key findings and offers valuable insights for investors, financial institutions, and stakeholders seeking to capitalize on this flourishing trend.
  • Tech Adoption: Increasing internet and smartphone penetration, coupled with government initiatives like Vision 2030, creates a fertile ground for digital investment platforms.
  • Focus on Investor Education: Financial institutions and regulators are collaborating to educate investors about robo-advisors and promote responsible investment practices.

Indonesia Peer-to-Peer Market Booms: Unlocking a $53.6 Billion Opportunity by 2027: Ken Research

Retrieved on: 
Wednesday, February 14, 2024
PayPal, Internet, Blockchain, Intelligence, Investment, Risk management, Financial inclusion, Growth, Technology integration, Safety, Tradition, SME, Ecosystem, Fintech, Sharia, Trust, Ant Group, Cryptocurrency

The peer-to-peer (P2P) market is revving up, fueled by a tech-savvy population, rising internet penetration, and a growing appetite for alternative financial solutions.

Key Points: 
  • The peer-to-peer (P2P) market is revving up, fueled by a tech-savvy population, rising internet penetration, and a growing appetite for alternative financial solutions.
  • Ken Research's " Indonesia Peer-to-Peer Market Outlook to 2027" report predicts a remarkable 19.2% CAGR, translating to a staggering $53.6 billion market size by 2027.
  • Beyond simply connecting individuals, Indonesia's P2P market is fostering financial inclusion, democratizing access to capital, and driving economic growth.
  • Government Support: Initiatives like the National Strategy for Financial Inclusion and the Fintech Roadmap 2022-2027 promote P2P market development.

Indonesia Peer-to-Peer Market Booms: Unlocking a $53.6 Billion Opportunity by 2027: Ken Research

Retrieved on: 
Wednesday, February 14, 2024
PayPal, Internet, Blockchain, Intelligence, Investment, Risk management, Financial inclusion, Growth, Technology integration, Safety, Tradition, SME, Ecosystem, Fintech, Sharia, Trust, Ant Group, Cryptocurrency

The peer-to-peer (P2P) market is revving up, fueled by a tech-savvy population, rising internet penetration, and a growing appetite for alternative financial solutions.

Key Points: 
  • The peer-to-peer (P2P) market is revving up, fueled by a tech-savvy population, rising internet penetration, and a growing appetite for alternative financial solutions.
  • Ken Research's " Indonesia Peer-to-Peer Market Outlook to 2027" report predicts a remarkable 19.2% CAGR, translating to a staggering $53.6 billion market size by 2027.
  • Beyond simply connecting individuals, Indonesia's P2P market is fostering financial inclusion, democratizing access to capital, and driving economic growth.
  • Government Support: Initiatives like the National Strategy for Financial Inclusion and the Fintech Roadmap 2022-2027 promote P2P market development.

SP Funds Launches Innovative “World-Ex US ETF” to Expand Sharia-Compliant Investment Solutions 

Retrieved on: 
Friday, December 22, 2023
EAFE, Family, Sharia, NTR, ETF, USD, Muslims, Social responsibility, Growth, Investment, Ticker, S&P, SPTE, Financial services

NEW YORK, Dec. 22, 2023 (GLOBE NEWSWIRE) -- SP Funds, North America’s largest family of Sharia-compliant exchange-traded funds (ETFs), revealed the debut of “The SP Funds S&P World ex-USA ETF (SPWO)” on the New York Stock Exchange.

Key Points: 
  • NEW YORK, Dec. 22, 2023 (GLOBE NEWSWIRE) -- SP Funds, North America’s largest family of Sharia-compliant exchange-traded funds (ETFs), revealed the debut of “The SP Funds S&P World ex-USA ETF (SPWO)” on the New York Stock Exchange.
  • Arca SPWO marks the newest inclusion in the company's expanding range of market-oriented funds, granting investors entry to the broad equity markets outside the USA and will serve as a complement to SPUS (The SP Funds S&P 500 Sharia Industry Exclusions ETF).
  • Please welcome SPWO, the newest offering from the creators of SPUS (The SP Funds S&P 500 Sharia Industry Exclusions ETF, SPSK (The SP Funds Dow Jones Global Sukuk ETF), SPRE (The SP Funds S&P Global REIT Sharia ETF) and SPTE (The SP Funds S&P Global Technology ETF) ETFs.
  • The SP Funds team anticipates that emerging markets will contribute substantial economic value in the next ten to twenty years.

Algbra Announces New World Group’s Adam Sadiq to its Board of Directors

Retrieved on: 
Thursday, December 14, 2023
Software, Networks, Finance, Environmental, Social and Governance (ESG), Professional Services, Technology, Fintech, Digital Cash Management, Digital Assets, State Street Global Advisors, Sharia, Entrepreneurship, Executive Committee, Multimedia, Rural Business Investment Program, BGC Partners, NWG, Growth, Western Asset Management Company, ESG, Cryptocurrency, Algebra

Algbra, the UK FCA licensed fintech and global digital financial infrastructure company that offers its full-stack proprietary technology internationally as a Fintech as a Service (‘FaaS’) solution and operates an ESG-focused and Sharia-compliant B2C platform, has announced the appointment of Adam Sadiq onto its Board of Directors.

Key Points: 
  • Algbra, the UK FCA licensed fintech and global digital financial infrastructure company that offers its full-stack proprietary technology internationally as a Fintech as a Service (‘FaaS’) solution and operates an ESG-focused and Sharia-compliant B2C platform, has announced the appointment of Adam Sadiq onto its Board of Directors.
  • Algbra also benefits from Adam’s extensive background in financial services including Société Générale, Western Asset (now Franklin Templeton), State Street Global Advisors and BGC Partners.
  • Commenting on his appointment, NWG CEO Adam Sadiq said: "I’m excited to be joining Algbra’s Board at this exciting time in the company’s journey.
  • The company will benefit tremendously from Adam’s deep experience working with institutions and investors, particularly across our future target markets and jurisdictions”.

Islamic Banking Software Market size to grow by USD 2.73 billion from 2022 - 2027, Availability of smart cards offered by Islamic banks boosts the market - Technavio

Retrieved on: 
Sunday, November 26, 2023
Key (company), Sample, Sharia, FZE, First Abu Dhabi Bank, Temenos AG, ISO, PJSC, Nucleus Software Exports, Oracle Corporation, Bank Albilad, USD, BML, Analysis, EIM, Software, Geography, Infopro Sdn Bhd, BMS, Growth, ISO 9001:2015, Certification, Muslims, Retail, Online shopping, Speciality chemicals, Islam

The potential growth difference for the Islamic banking software market between 2022 and 2027 is USD 2.73 billion.

Key Points: 
  • The potential growth difference for the Islamic banking software market between 2022 and 2027 is USD 2.73 billion.
  • Several Islamic banks are issuing smart cards which is fuelling the market growth.
  • Buy the full report here
    The lack of expertise, awareness, and training in Islamic banking software is a major challenge hindering the market growth.
  • The business management software (BMS) market size is estimated to grow at a CAGR of 10.48% between 2023 and 2028.

World's First Institutional Tokenised Sukuk Backed by a Sovereign-Linked Instrument Listed

Retrieved on: 
Monday, October 30, 2023
Ethereum, Accounting, Malaysia International Islamic Financial Centre, Accounting and Auditing Organization for Islamic Financial Institutions, Ministry of Finance (Malaysia), Exercise, American depositary receipt, Sukuk, Ministry, Environment, Islamic banking and finance, ADR, FDR Drive, FDR, Security (finance), Cryptocurrency, Islam, Sharia, Fusang

LABUAN, Malaysia, Oct. 30, 2023 /PRNewswire/ -- Fusang Exchange today announced the successful tokenisation and listing of a digital sukuk representing the corresponding underlying sukuk issued by the International Islamic Liquidity Management Corporation (IILM)*. IILM is an international organisation established to address liquidity management challenges faced by Islamic financial institutions globally and acts as the programme administrator of the underlying sukuk.

Key Points: 
  • Fusang, a digital stock exchange operator has listed the world's first institutional tokenised sukuk backed by a sovereign-linked instrument, opening up access to a short-term A-1 rated sukuk for global institutions and their clients.
  • The tokenisation and listing exercise was completely led by Fusang, utilising its proprietary Fusang Depository Receipt ("FDR") structure to "wrap" the underlying sukuk into a digital form.
  • FDRs are fully redeemable for the underlying IILM sukuk and are secured by third-party independent custodians.
  • We envisage the new Guidelines on Labuan Securities Token Offering would further spur the development of tokenised securities in Labuan.

Reltime & MRHB Network bring Sharia compliant Web3 Services to faith sensitive customers

Retrieved on: 
Thursday, October 26, 2023
Crypto, Islam, Investment, Partnership, MENA, Cryptocurrency, Bank, Sharia

This partnership aims to deliver sharia compliant digital assets and services for faith sensitive customers globally.

Key Points: 
  • This partnership aims to deliver sharia compliant digital assets and services for faith sensitive customers globally.
  • Sharia finance refers to how businesses and individuals raise capital in accordance with Sharia – the Islamic law.
  • Together with MRHB Network, we are not just envisioning but actively sculpting the future of the Shariah compliant Web3 services.
  • We see immense value in integrating and offering our Sharia compliant service modules and business logic through Reltime to our institutional partners".

Celularity Announces Commercial Biomaterial Products Receive Saudi Food and Drug Authority (SFDA) Product Classification

Retrieved on: 
Wednesday, October 18, 2023
Islam, Halal certification in Australia, Certification, Umbilical cord, Placenta, Trauma, PTD, Partnership, Saudi Food and Drug Authority, CELU, Classification, Kingdom, SFDA, Medical device, Sharia, Instituto de Biologia Molecular e Celular

FLORHAM PARK, N.J., Oct. 18, 2023 (GLOBE NEWSWIRE) -- Celularity Inc. (Nasdaq: CELU) (Celularity), a biotechnology company developing placental-derived off-the-shelf allogeneic cell therapies and advanced biomaterial products, today announced that its Halal Certified biomaterial products have been classified by the Saudi Food and Drug Authority (SFDA) as “Minimally Manipulated Biological Products” for importation license purposes in the Kingdom of Saudi Arabia. The SFDA independently reviewed and issued classifications for each of the following Celularity Halal Certified biomaterial products:

Key Points: 
  • FLORHAM PARK, N.J., Oct. 18, 2023 (GLOBE NEWSWIRE) -- Celularity Inc. (Nasdaq: CELU) (Celularity), a biotechnology company developing placental-derived off-the-shelf allogeneic cell therapies and advanced biomaterial products, today announced that its Halal Certified biomaterial products have been classified by the Saudi Food and Drug Authority (SFDA) as “Minimally Manipulated Biological Products” for importation license purposes in the Kingdom of Saudi Arabia.
  • The SFDA independently reviewed and issued classifications for each of the following Celularity Halal Certified biomaterial products:
    Biovance®, a decellularized, dehydrated human amniotic membrane derived from the placenta of a healthy, full-term pregnancy.
  • Biovance® is an intact, extracellular matrix structure that provides a natural scaffold to support the body’s wound-healing process.
  • “The SFDA’s Minimally Manipulated Biological Product classification establishes a clear regulatory pathway for the importation of our Halal Certified biomaterial products into Saudi Arabia,” said Robert J. Hariri, M.D., Ph.D., Chairman, CEO, and Founder of Celularity.