MEA Islamic Banking Webinar
Securing a competitive edge in the dynamic Islamic Finance landscape

At Temenos our passion is to power a world of banking that creates opportunities for everyone. When compared to conventional banking, Islamic finance has not always kept pace with the accelerated adoption of technology, yet change is nonetheless afoot as Banks and regulators alike demonstrate a heightened interest in digital banking and FinTech. Globally and within Middle East & African countries financial services institutions are waking up to the potential of Islamic finance, with new regulations implemented to develop the sector.
More specifically Islamic banking penetration in the GCC has increased from 31 per cent in 2008 to 45 per cent in 2017. Pakistan stands as a beacon of Islamic finance, as the State Bank of Pakistan (SBP) has laid out a comprehensive framework to facilitate the transition towards Islamic banking. This includes the adoption of a variety of Islamic finance products like Mudarabah, Murabaha, Ijarah, and Sukuk, among others, which are designed to replace conventional lending products. Even countries like Uganda are making the shift towards Sharia-compliant banking not just preferable but essential.
The dual forces of Islamic banking transition and digital transformation are reshaping the banking sector. The journey towards a fully Sharia-compliant banking system, coupled with the rapid demand by customers for the effective enablement of digital technologies, presents a unique set of challenges and opportunities.
Banks that can navigate these changes effectively to not only comply with regulatory mandates but also meet the evolving needs of their customers, will undoubtedly secure a competitive edge in the dynamic Islamic banking landscape.
Key take-outs
- The growing opportunity and new regulatory requirements for fully Sharia-compliant banking systems across MEA
- How Banks in MEA can better ensure they deliver outstanding Shari’ah compliant experiences to their customers using a combination of digital and human interaction
- The benefit of leveraging advanced product building capabilities and modern technology to create offerings that are compliant and personalized while reducing a Banks operational costs and risks
If you were unable to attend the live webinar, you can now watch the recording at your convenience. Discover how our industry experts examine the key milestones in a successful Islamic finance transformation and explore the best ways to innovate, adapt, and embrace the digital future while staying true to the core principles of Islamic finance.