Global Islamic Fintech Forum kicks off in Dubai
The event commenced with an insightful Welcome Address by Mr. Muhammad Zubair, Managing Director of AlHuda CIBE FZ LLE, UAE, which set the tone for the forum's focus on innovation and the future of Islamic finance. The opening ceremony was further enriched by the presence of esteemed Guests of Honor, including H.E. Haisham Mohamed, Minister Counsellor, Embassy of the Republic of Maldives, UAE; UAE; H.E. Nameer Khan, Chairman, MENA Fintech Association, UAE, H.E. Tariq Rashid Mohamed AlGhazal Alsuwaidi, Department of Economic Studies, Ministry of Economy, UAE and H.E. Zayyan Ibrahim, Consul General of the Federal Republic of Nigeria, UAE. These dignitaries highlighted the critical role of Islamic FinTech in driving economic growth and fostering greater financial inclusion worldwide.
Throughout the forum, discussions explored a wide spectrum of key themes shaping the trajectory of Islamic FinTech. These included the evolving landscape of Islamic FinTech in cash-focused markets, the application of GenAI in the insurance sector, the strategic importance of technology partners in accelerating growth, Shariah-compliant WealthTech, and sustainable energy solutions within the Islamic FinTech ecosystem. The forum also examined the intersection of Islamic banking and FinTech in the UAE, the revolutionary impact of Blockchain technology on asset management, and the crucial role of Islamic FinTech in promoting financial inclusion. Emerging technologies such as Robo-advisors, Metaverse applications (AR/VR), Neo and Digital Banking platforms, Central Bank Digital Currencies (CBDCs), and Blockchain solutions were also prominent topics of discussion, highlighting their increasing integration within Islamic FinTech. Notably, the forum addressed the anticipated emergence of Metaverse (Islamic) banks within the next five years, signaling a significant shift towards immersive digital financial experiences.
A central focus of the forum was the remarkable growth of the Islamic FinTech sector, which is expanding at a faster rate than any other component of the Islamic finance industry. The global Islamic FinTech market is currently comprised of 512 companies and is projected to exceed 1000+ by 2027, demonstrating the sector's increasing prominence and its potential to provide ethical and inclusive financial solutions.
Mr. Zubair Mughal, CEO of AlHuda CIBE, emphasized the transformative power of Islamic FinTech, stating, 'The Islamic FinTech industry is poised to reshape the future of finance by offering sustainable and inclusive financial solutions. This industry enables ethical innovation across sectors such as alternative finance, Blockchain, crowdfunding, and digital banking, enhancing financial inclusion while adhering to Shariah principles'. Moreover, the forum will be followed by one day post event workshop on 'Operational and Practical Aspects of Islamic FinTech' dated 16th April, 2025. The workshop will be covering industry emerging topics. For more details visit: https://www.alhudacibe.com/giftf2025/
Looking ahead, AlHuda CIBE announced its plans to launch a dedicated trading forum for Shariah-compliant Carbon Credits in 2025, further demonstrating its commitment to promoting sustainable and ethical financial practices.
The forum also hosted the 2nd Global Islamic FinTech Awards Distribution Ceremony, recognizing outstanding contributions and innovations within the industry. Mr. Ali Zeb Khan, Trade & Investment Counsellor Consulate General of Pakistan, UAE, served as the Chief Guest for this prestigious event.
About AlHuda CIBE:
AlHuda Center of Islamic Banking and Economics (CIBE) is a well-recognized name in Islamic banking and finance industry for research and provides state-of-the-art Advisory Consultancy and Education through various well-recognized modes viz. Islamic Financial Product Development, Shariah Advisory, Training Workshops, and Islamic Microfinance and Takaful Consultancies etc. side by side through our distinguished, generally acceptable and known Publications in Islamic Banking and Finance.
We are dedicated to serving the community as a unique institution, advisory and capacity building for the last twelve years. The prime goal has always been to remain stick to the commitments providing Services not only in UAE/Pakistan but all over the world. We have so far served in more than 104 Countries for the development of Islamic Banking and Finance industry. For further Details about AlHuda CIBE, please visit: www.alhudacibe.com
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