ISLAMIC FINANCE
A Growth Trajectory Zeeshan Awan Head of Islamic Banking at NBF responds to questions from MEA Finance about the direction of travel and development of Islamic Finance in the world of today, highlighting digital innovation as a positive, the complimentary natures of Sharia principles with ESG principles and how standardisation could add to the growth of Islamic Finance
W
Zeeshan Awan, Head of Islamic Banking at NBF
illdigitaltransformation help to grow the market s h a re of I s l a m i c Finance in the region and the wider world?
We tend to agree on this. Digital transformation is impacting the dimensions of the financial market, where it is changing the way customers interact with financial institutions. In this setting, Islamic finance is part of this ecosystem and is being impacted too. Digital
44
transformation is already changing and improving customers’ digital experience and will further improve the efficiency of processes for financial institutions, thereby reducing costs and better pricing for customers. At NBF, we see ourselves as a financial partner for clients across their professional and business needs. Although many have seen an acceleration in digital transformation plans as a result of the pandemic, we have been on this
Banking and Finance news in the MEA market
path long before. In fact, we have made significant advancements in digitization resulting improved customer experience, enhanced efficiency and optimisation, improved security and better resilience. We are also at the forefront of many of the country’s efforts to become a cashless society. We went live with the Emirates Digital Wallet ‘klip’, a cashless payment application that allows customers to store, transfer and conduct payments in a seamless and secure manner.
