This new report focuses on the opportunities for cooperation between the UK and Turkey to scale Islamic finance through FinTech and increase access to finance in the Islamic world.
Prepared in collaboration with Borsa Istanbul, the report sets out the extent of the opportunity to bring more Muslims and non-Muslims into the global financial system, while staying true to their values. Turkey’s Islamic (or Participation) banks are investing in FinTech to reach new customers, drawing on London’s expertise as the world’s leading FinTech centre to develop new products, services and markets.
As well as making a series of recommendations, the report also includes a number of practical case studies and insights into FinTech for Islamic finance, each written by a member of the UK-Turkey Islamic FinTech Working Group. Collectively, these all underline how Islamic FinTech is rapidly becoming a globally significant sector that is altering — and in some cases disrupting — financial services and market structures around the world.