Sharia-compliant challenger Nomo taps Paymentology for digital payments platform
Paymentology’s technology has allowed the bank to offer cross-border transaction services “without high fees”.
Islamic Banking
News, intelligence and resources on the global fintech industry including topics such as islamic banking.
Egypt’s Faisal Islamic Bank taps iGCB to power its digital banking services
The bank will deploy iGCB’s cloud-native CBX Retail (CBX-R) solution.
Al Busairi Bank opts for ICS Banks core banking system
The new microfinance bank will implement the ICS Banks Islamic core banking system from ICSFS.
Riyad Bank taps SunTec for e-invoicing integration with Saudi tax office
The integration allows banks to share standardised e-invoices with Saudi tax office Fatoora.
Hadhramout Commercial Bank opts for ICS Banks core banking system
Hadhramout Commercial Bank (HCB) is a new universal bank in Yemen.
FCA fines Al Rayan Bank £4m for inadequate AML controls
Al Rayan did not dispute the FCA’s findings and agreed to settle.
Path Solutions founder Mohammed Kateeb to leave firm
Path Solutions founder and CEO Mohammed Kateeb is to leave the firm after managing its sale to Azentio Software in 2021.
Al Kawthar Leasing Company opts for ICS Banks system
The ICS Banks Finance Leasing Solution is provided by regional banking tech vendor ICSFS.
UAE’s National Bonds taps Azentio for digital Islamic banking solution
Azentio says its iMAL platform will enable National Bonds to roll out Islamic products and services faster.
Mobility fintech Moove lands $30m to fuel UAE expansion
Moove intends to use the funding to scale to 2,000 EVs in the UAE over the coming year.
Al Rajhi Bank Malaysia launches digital bank Rize
Rize offers a mobile banking app for Malaysian customers.
Banque Saudi Fransi digital head Grant Niven departs
Niven was responsible for developing and executing the bank’s company-wide “digital vision”.
BML Istisharat signs new core banking tech clients in Iraq and UAE
Two banks in Iraq and one in the UAE are implementing BML Istisharat’s ICBS core banking system.
Saudi BNPL firm Tamara raises $100m Series B
The latest raise brings the fintech’s total funding to date to $216 million in equity and debt.
Al-Ataa Islamic Bank picks ICS Banks core banking system
The start-up bank in Iraq has opted for core banking tech supplier ICS Financial Systems (ICSFS).
Bank Islam taps Kestrl to offer financial management tools in Be U app
The firm will incorporate Kestrl’s personal financial management tools into Be U by the end of the year.
Al Sanam Islamic Bank selects ICS Banks core banking system
Al Sanam Islamic Bank is a newly-established Islamic bank in Iraq.
Bank Islam Malaysia Berhad launches new banking app, Be U
The fully cloud-native digital banking app aims to broaden financial inclusion in Malaysia.
FinTech Futures: Top five stories of the week – 15 July 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Australia’s first Islamic bank receives restricted banking licence
The bank has received a restricted ADI licence from the APRA.
DND Finance launches UK’s first Shariah-certified credit card
The Score Mastercard enables new-to-UK users to transact and build up their credit history.
Loan Financing Company turns to ICSFS for core banking tech
LFC has also received a preliminary approval from Saudi Arabia’s regulator, SAMA.
US fintech Wahed Invest to receive $50m in Series B funding
The Series B round will support the start-up’s plans to launch an ethical neobank.
KAF Investment Bank appoints Rafiza Ghazali to lead its upcoming digital bank
Ghazali is currently group CEO of Cradle Fund and has previously worked at RHB Investment Bank.
Oracle FS lands two new core banking tech deals in Uzbekistan
Ziraat Bank and a challenger bank will implement a broad range of Oracle FS tech.
Al Rajhi Bank Malaysia picks Moneythor to strengthen digital bank offering
The bank will integrate Moneythor’s personal financial management features.
Kevin Guy joins UK challenger MoneeMint as COO
Guy has 36 years’ worth of experience across banking and financial services.
Al Rajhi Bank Jordan in front-to-back office tech overhaul with ICSFS
Al Rajhi Bank Jordan selected ICS Banks from ICS Financial Systems following an international tender.
Waafi Bank gears up for launch with Oracle FS tech
Oracle’s partner JMR Infotech worked on the implementation at Waafi Bank.
UK challenger bank Gatehouse looks to raise capital
Gatehouse Bank has appointed Strategy&, PwC’s global strategy consulting business, as its adviser.
ICYMI fintech funding round-up: Blend, Canza, IMAN, NayaPay, NymCard, Plinqit, & Tiiik
Our weekly fintech round-up for you to get the latest funding news.
Pakistan’s largest bank in major tech overhaul with Temenos and NdcTech
It is understood the new tech will replace the legacy Equation system from Temenos’ rival, Finastra.
Al Rajhi Bank Malaysia hires Ikram Khaliq to lead new digital bank offering
ARBM plans to launch its new digital bank this year.
Oracle FS lands two core banking tech clients in Libya
Daman Islamic Bank (DIB) and Mediterranean Bank have signed for the Flexcube core banking system.
UR Islamic Bank goes live with new core banking system from ICSFS
The Iraqi bank has selected the ICS Banks Islamic core banking system.
Aladin Bank turns to Google Cloud for Islamic banking tech innovation
Aladin Bank, an Islamic bank in Indonesia, has announced a “strategic collaboration” with Google Cloud.
Al Rajhi Bank Malaysia taps Thought Machine to power new digital bank
ARBM will deploy the Vault core banking solution to deliver Shariah-compliant banking products.
KAF taps Temenos to launch digital lending business in Malaysia
KAF will use Temenos Banking Services for retail loans and Islamic financing.
Siinqee Bank signs for new banking tech from Oracle FS
Ethiopia-based Siinqee Bank has signed for the Flexcube core banking system from Oracle FS.
Ejabiah picks Path Solutions to power 0% interest financing
New Saudi Arabian fintech aims to help SMEs with their growth.
