Younger generations increasingly want their banks to behave ethically. But there’s one important sector that has been overlooked. Islamic finance, which is built on a set of moral and ethical principles aligned to the Islamic faith.
At $2 trillion, it is still a small fragment of the global banking system and to grow faster it needs to appeal to younger generations.
Mambu’s Faith & Finance report says more than half of young Muslims want to adopt Islamic banking. But a lack of digital services is holding uptake back among this key demographic.
