Islamic fintech growing fast in the country

Al Rajhi Bank Malaysia CEO Arsalaan Ahmed

PETALING JAYA: Islamic fintech is growing exponentially in Malaysia with 33% of global Islamic fintech companies headquartered here, which will further strengthen the country’s leadership in Islamic finance, according to Al Rajhi Bank Malaysia CEO Arsalaan Ahmed.

Arsalaan said Malaysia’s issuance of digital banking licences earlier this year will accelerate the deployment of new technologies to serve the unbanked and underserved communities.