Sedania Launches Islamic Financial Marketplace Assidq.com

assidq-sedania4

Sedania As Salam Capital Sdn Bhd, a wholly-owned subsidiary of Sedania Innovator Berhad, has announced the launch Assidq.com, an Islamic online marketplace. The online marketplace facilitates the customer’s Islamic financial needs through a personalised profile check with approval and disbursements. According to their media statement, the new portal offers a range of Islamic personal financing products and Islamic credit cards. Commenting on the launch of Assidq, Nisa Ismail, CEO of Sedania As Salam Capital Sdn Bhd said, “We have a unique offering in Malaysia. There is a growing demand for…

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Wahed is the 1st Shariah Robo-Advisor in Malaysia

Wahed-roboadvisory

American-based Wahed Invest halal robo-advisory platform announced today that they have successfully obtained regulatory approval from the Securities Commission Malaysia to offer digital investment management services in Malaysia. The approval Malaysia Security Commision Chairman, Syed Zaid said, this approval would further facilitate the growth of local fintech landscape. “Today, Malaysia has three licensed and fully operational robo-advisors — namely StashAway, MyTHEO and Wahed Inc. We continue to see strong interest in this space and will pursue to facilitate its growth,” he said in his opening address at the SCxSC Fintech…

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The First Shariah Super App Banking Launched in Indonesia

Shariah-super-apps

PermataBank launched for the first time Islamic banking services on a digital platform that complements PermataMobile X to become The First Sharia Mobile Banking Super App. The newest product from PermataBank with full innovations and features to answer all the needs of modern society in order to undergo banking activities. The launching of PermataMobile X for Sharia Banking was opened by Ridha DM Wirakusumah – President Director of PermataBank. Also present as speakers were Herwin Bustaman – Director of the Sharia Business Unit and Abdy D. Salimin – Director of…

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Malaysia Interested to have Islamic Digital Bank

Digital-Islamic-Bank

As one of the largest market of Islamic Finance, Malaysia Interested to have Islamic Digital Bank. Several fintech start-ups are eyeing an Islamic digital banking license to operate in one of the most sophisticated Shariah finance jurisdictions in the world, as the regulator prepares to release its virtual banking guidance before the year ends. At least one-fifth of the parties interested in setting up a mobile-only bank in Malaysia would build their business on a Shariah proposition, IFN Fintech has learned. Bank Negara Malaysia (BNM) is expected to unveil its…

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BLOCKCHAIN AS THE FUTURE TECHNOLOGY IN BUSINESS 2019

“Blockchain as the Future Technology in Business 2019” was successfully organized on October 8, 2019, on Tuesday at the KICT Conference Room, IIUM. The program is attended by students of Institute Islamic University Malaysia who have a Degree, Master and PhD in IT Islamic Finance and Banking. Blockchain is the future Technology which expected to be use widely in the future. Eventhough current situation acceptance from government and surrounding community is not so welcoming for this technology, it is believe that it will be come phenomena as what have been…

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Indonesia are ready to bring Islamic fintech agenda with new digital platforms

Indonesia fintech

President of Indonesia Joko Widodo, inform that Indonesia are ready to bring Islamic fintech agenda with new digital platforms. He announced that he will lead a dedicated national islamic finance committe which has identified the Halal digital economy as a strategic pillar of its robust strategy to become a force to be reckoned with in the global islamic finance sphere. Launched 2 years ago, Indonesia’s National Islamic Finance Committee (KNKS) purpose is to ensure the Republic is positioning as an international Islamic Finance hub, rivaling neighboring Malaysia. At first, their…

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ISLAMIC FINANCE SYSTEM BY SHARIAH

DEFINITION OF ISLAMIC FINANCE Islamic finance is a financial system that operates in accordance with Islamic law (called shariah) and is, therefore, shariah compliant. Just like the conventional financial system, Islamic finance has banks, market capital, fund managers, firm investments, and insurance companies. Although the Islamic financial industry itself is relatively young, Islamic economic theories have been around for more than a millennium in the middle of the 12th century, in fact many Muslim scholars have introduced key concepts of Islamic economics that are still relevant today. But politics and…

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HISTORICAL DEVELOPMENT OF ISLAMIC BANKING

DEFINITION 1. Bank. The word banking is the word derived from the word “bank”. Dictionary defines bank is by as an institution offering financial services. For example saving money, money exchange , lending and receive the exchange bill. According to “Qamus al-Munjid fi al-Lughah wa al-A’lam”, has defined the bank as the place to put the property. Its for a specific job purpose under a specific maintenance. In addition, the Qamus also defines bank as a financial institution that conducts banking activities. It can be as accepting deposits from the…

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FINTERRA INTRODUCES BLOCKCHAIN TO SOLVE WAKAF PROBLEMS

WHAT IS WAKAF Wakaf is the Arabic word for an endowment to a charitable cause contributed significantly to the global socioeconomic landscape in the past, especially in eradicating poverty. In the past, waqf played an important role in the development of the socio-economic landscape of Muslims especially in the quest to eradicate poverty. But in modern times, the function of waqf seems to be increasing. There is mismanagement in terms of management so that the wakaf’s role does not efficiently translate into endowment, even though the global waqf assets are…

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SISTEM KEWANGAN ISLAM MENGIKUT SYARIAH

MAKSUD KEWANGAN ISLAM Sistem Kewangan Islam adalah sistem yang beroperasi mengikut undang-undang Islam (yang disebut syariah) dan, oleh itu, patuh syariah. Sama seperti sistem kewangan konvensional, kewangan Islam mempunyai bank, pasaran modal, pengurus dana, firma pelaburan, dan syarikat insurans. Walaupun industri kewangan Islam itu sendiri agak muda, teori-teori ekonomi Islam telah wujud selama lebih dari satu milenium pada pertengahan abad ke-12, sebenarnya banyak ulama Muslim telah menyampaikan konsep-konsep utama ekonomi Islam yang masih relevan hari ini. Tetapi politik dan Kegawatan sosial meletakkan brek ke atas kewangan Islam untuk jangka masa…

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