The Islamic fintech industry has been growing exponentially. According to recent data from Dinar Standard, the industry is expected to grow to US$128 billion globally by 2025, a whopping 161% increase from 2020 figures. The UK is one of the fastest-growing Islamic fintech markets in the world.
In June 2021, the Boubyan Bank Group, a Shariah-compliant Kuwait-based investment company announced that they were going to launch the world’s first Islamic international digital bank in the UK.
On July 27, 2021, Alif, a Tajikistan-based Islamic fintech announced plans to expand into the UK market.
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