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FinancialNews


  • 29-03-21

    Saudi Islamic financial market to value at USD17.8 B in transaction rate

    (MENAFN)An industry report declared that the Saudi Islamic financial technology (fintech) market is the largest globally, expected to stand at USD17.8 billion in transaction rate, and to increase to USD47.5 billion by 2025.

    The Global Islamic Fintech (GIFT) Report was set by DinarStandard, an Islamic economic management consultancy, and Elipses, a finance advisory and investment firm, and sets the concentration at the fintech market across the Organization of Islamic Cooperation (OIC) countries.

    The GIFT index evaluated 64 countries and employed 32 indicators across five different categories for each country: Talent; regulation; infrastructure; Islamic fintech market and ecosystem; and capital.

    Categories were set to gain an overall score, with a heavier weighting given to the categories supposed to drive conduciveness to Islamic fintech.

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