Islamic Fintech combines Shariah-compliant financial solutions with disruptive technology, bringing best practices to stakeholders. These include digital investment management, equity crowdfunding, peer-to-peer (P2P) financing and digital asset exchanges. It is a rapidly expanding landscape in Malaysia, thanks to the widespread adoption of cashless payments, e-wallets, and digital assets. This innovative global financial ecosystem integrates innovative technology into traditional financial services, whilst ensuring fairness and moral transactions that adhere to Shariah laws. More than 300 fintech companies are expected to have begun operating in Malaysia by 2023.
Xanderia Services Sdn. Bhd. (Xanderia) a subsidiary of Xanderia Berhad recently was listed under Islamic Fintech Alternative Finance by IFN Fintech among 399 other global Islamic Fintech companies. IFN FinTech is a media stop for industry knowledge, networking and communication. It is supported by a huge global network, strong social media platform and trusted multimedia Islamic finance offering.
Based on data from the Global Islamic Fintech Report 2022, Malaysia is currently in the top position in the Global Islamic Fintech (GIFT) Index. Saudi Arabia, the United Arab Emirates, Indonesia, and the United Kingdom come next in line. The GIFT Index is composed of 64 countries that are perceived to have the most conducive environments to promote the growth of Islamic fintech. It applies 32 indicators across five categories, i.e. Islamic fintech market and ecosystem; talent; regulation; infrastructure; and capital.
Xanderia Services is a financial technology company that provides Shariah-compliant financial assistance to its clients. Xanderia is embarking a journey to make Shariah financing accessible to all in an effortless, sustainable, prompt and secure way through innovative platforms and technologies.
“Embracing Islamic Fintech is not just about religious compliance or tapping into a niche market. It’s about unlocking a wealth of opportunities for economic growth and financial inclusion. By leveraging technology to offer Shariah-compliant financial services, we can reach underserved communities, foster entrepreneurship, and stimulate economic activity. In doing so, we contribute to a more equitable and sustainable economy” said Razi Pahlavi, Chairman of Xanderia Services Sdn. Bhd.
“By providing Shariah-compliant financial solutions that are accessible, affordable, and convenient, Xanderia is not only catering to the needs and preferences of its clients, but also promoting positive values and principles of Islamic finance” he ended.
Xanderia contributes to the development and diversification of the Islamic finance industry, which is one of the key drivers of Malaysia's financial sector and a strategic asset for the Malaysian’s economy.
