Unleashing potential in Islamic banking
The Islamic Financial Services Industry, IFSI, was worth an estimated US $3.1 trillion in 2021, and it recorded a 11.3% year-on-year growth rate.
As we can see there is a tremendous growth opportunity in the industry.
The IFSI has considerable advantages including a renowned business model, esteemed reputation and well-established position in the market. The result is that there is a tremendous opportunity for IFIs to tap into.
The key question is how to take advantage of this opportunity.
Default Finastra
For banks operating conventional and Islamic banking businesses – as standalone entities or via Islamic windows – the traditional practice has been to deploy separate core banking systems. Regardless of whether they chose modified or pure-play systems, the implementation of two systems creates its own set of challenges. What is the solution? The answer is simple – deploying the right banking platform. To do this a deep understanding of banking – both Islamic and conventional is required. Read our whitepaper to learn more.
