Nomo launches as UK’s newest Islamic digital bank
The new challenger is a subsidiary of Kuwait-based Boubyan Bank.
Islamic Banking
Cities and Villages Development Bank picks ICS Banks
Jordanian bank replacing legacy system with cloud deployment.
Al Baraka waves goodbye to IT boss Albalooshi after 12 years
Ahmed Albalooshi leaves the Bahraini bank after more than a decade leading its IT operations.
Pakistan’s UBL picks Temenos Infinity for digital banking transformation
Temenos wins another customer in Pakistan, NdcTech to implement.
Oracle wins Flexcube deal with Ethiopia’s first Islamic bank
ZamZam Bank has selected Flexcube to run its core banking ops.
Mastercard and Visa pick new partnerships to drive biometric payments
Mastercard partners with FinGo following Visa’s deal with ADIB.
Asia Alliance Bank becomes second ICSFS client in Uzbekistan
New system selection hot on the heels of Trustbank at the start of the month.
Abu Dhabi Islamic Bank picks FIS Open Payment Framework
UAE-based bank seeks to capitalise on customers paying digitally.
Uzbekistan’s Trustbank plans Islamic banking first with ICSFS
The bank claims to be the first in Uzbekistan to offer new Islamic services.
Kuwait International Bank announces Mobiquity as digital transformation partner
Mobiquity will provide strategy, design and engineering services for digital banking.
Path Solutions gains first Ethiopian client in Bank of Abyssinia
Bank of Abyssinia has over 4.6 million customers and 580+ branches and Islamic windows.
Idman Community Bank opts for BML Istisharat’s ICBS core banking system
The bank was looking for “a proven banking solution to be implemented by a reliable vendor”.
Suez Canal Bank extends Temenos partnership with Infinity deal
The bank is an existing user of Temenos’ core banking platform.
Waqfinity launches in UK to provide “impact focused” Islamic finance
Former Rizq founder sets up new Islamic wallet app.
Asia-Pacific fintechs Volopay and Microleap land funding
Singapore-based Volopay and Malaysia-based Microleap have raised $2.1 million and $3.3 million, respectively.
EXCLUSIVE: Oracle wins Flexcube deal with Somalia entrant BB Bank
Upcoming Islamic bank picks Oracle FS to furnish its core operations.
Bank of England’s Islamic liquidity announcement “a huge vote of confidence”
UK’s Islamic finance sector welcomes ALF announcement from central bank.
UK central bank unveils Islamic finance liquidity alternative
The central bank will run tests in early 2021.
Nasik Islamic Bank goes live with BML Istisharat core system
BML deployed the ICBS core platform in four months.
Oracle gains new Flexcube deals in Middle East and Africa
Technology vendor signs a selection of new clients.
Meezan Bank picks BPC’s SmartVista to revamp payments
Meezan is deploying SmartVista for payment authorisation, card management, and more.
EXCLUSIVE: Oracle wins deals with Mashreq Bank and Desjardins
Oracle has also picked up a new deal in Bangladesh.
Sombank picks Temenos Islamic banking systems
The new bank on the block plans to aid financial inclusion in Somalia.
UK pensions firm Options teams with US Halal fintech Wahed Invest
Options UK thinks there is a noticeable gap in the Islamic pension market.
Islamic banks take the lead in adopting fintech solutions
No part of the world has really taken this matter to the next level quite like the Middle East.
UK leads the way in Islamic fintech ahead of Malaysia and UAE
The UK is a notable eight ahead of second-place Malaysia.
Applications for FCA’s sixth regulatory sandbox drop more than 30%
Last year, the sandbox recieved a record 99 applications.
MFMi Group picks Mambu to power new suite of Islamic products
The Malaysian firm aims to help underbanked in the wake of COVID-19.
Nigerian fintech KiaKia launches P2P lending investment app
Until this announcement, its P2P lending investment service has been exclusive.
Halal fintech Wahed lands $25m from Saudi Aramco’s venture arm
The Islamic finance industry is set to grow to $3.8tn by 2022.
UK fintech Minted to launch in July with 2021 digital bank plans
The fintech is sharia-compliant and follows AAOIFI rules on gold.
Kestrl to offer UK consumers ethical banking alternative
The debit card launch is expected sometime in Q3 following a June beta.
Yemen’s Al Kuraimi Islamic Bank selects Temenos for digital banking
KIB currently serves 1.2 million customers.
Africa and Gulf Bank selects Path Solutions iMAL as new core system
Sudan-based bank has signed up Path Solutions and its iMAL Islamic core banking system.
Al Wifaq International Islamic Bank selects ICSFS Islamic system
Newly established Iraqi bank picks ICSFS over five other providers.
Rizq launches in UK as Sharia-compliant challenger bank
Rizq plans to benchmark itself as close as possible to existing challengers.
Assaray Trade and Investment Bank kicks off digital overhaul with Temenos
Libyan bank signs for Temenos Infinity and Temenos Transact.
Aafaq Islamic Finance goes live on Infosys Finacle
UAE institution revamps payments, core, and Islamic functions.
Bank Assafa goes live on iMAL core banking system
Moroccan bank goes live after 18-month implementation period.
Telenor Microfinance Bank selects Temenos T24 as new core banking system
Pakistani institution uses NDC as implementation partner.
