This year’s summit will look at Islamic economy to define the role of the financial sector, and utilize its tools and technologies as growth accelerators and as means to facilitate transactions free from traditional bureaucratic processes and drive financial inclusion.
The emergence of Fin Tech opens a host of investment opportunities in the digital Islamic economy. This nascent sector is widely receptive to innovation and in dire need of fresh talent, especially when it comes to small and medium enterprises.
East Africa’s fairly developed infrastructure and communication sector, a tech savvy young population and the ability to capitalize on technology development provides a great opportunity for the region to lead in Islamic digital economy.
Accounting firm Ernst & young puts a figure of 150 million new customers by 2021 with the adaptation of Technology in Islamic Finance.