The Islamic finance industry is growing rapidly – at a rate of approximately 10-12% year-on-year. While this growth is predominantly in Muslim-countries - where Islamic banking was born over half a century ago - more recently, banks in non-Muslim countries around the world are taking interest in it and starting to offer Islamic banking products. However, to be successful in taking advantage of the growing Islamic banking trend, FIs need to offer customers convenient and innovative products that are Shari’ah compliant.
In a continuously demanding sector, FIs need to be able to make changes quickly, adapting to customer needs and ensuring they are one step ahead of the competition. Compass Plus have extensive experience supporting FIs in their Islamic banking needs, offering them the flexibility and agility to build new products quickly and meet the needs of their customer base. Compass Plus’ highly scalable solutions are equipped to support digital banking and enable FIs to create new Islamic banking products that will rival both their Islamic, and conventional, counterparts.