With total assets expected to surpass the 3.8 trillion USD mark by 2025, the Islamic banking sector is facing an explosive opportunity. However, many banks in the Middle East, Africa (MEA) and Asia-Pacific (APAC) are still operating on infrastructure that cannot meet current customer requirements, as well as the rapid change of the financial services industry.
The latest improvements from Mambu provide a future-ry platform, towards ethical finance, allowing banks to meet increasingly high customer expectations and legal requirements while still ensuring compliance with Islamic principles.
This launch event marks an important milestone in our commitment to ethical and comprehensive finance, as well as to customers in APAC and MEA.
Mambu's cloud banking platform, combined with Islamic Profit Sharing (IPS) features, ensures that financial institutions have access to powerful tools to simplify processes, automate compliance and shorten product launch time in a completely legal framework in accordance with Shar'ah. - Mr. David Becker, Business Director of APAC shared.
New and upgraded features include:
Islamic Profit Sharing (IPS): a powerful tool specifically designed to automate, streamline and expand Islamic banking activities.
Saudi capital mobilization solutions: Support savings account and deposit account products based on profit sharing principles such as Mudarabah, inter inter inter inter, wadiah, Qard Hassan and Tawarruq.
Islamic Finance Solutions: Flexible tool to support diverse lending products based on Shariaah principles for individuals, SMEs and assets, including Murabaha, Tawarruq and Qard Hassan.
Mambu's upgraded solution includes a comprehensive toolkit to support Islamic deposits and lending products including Qard Hassan, wadiah, Tawarruq, Murabaha, Mudarabah and Wakalah with the ability to deploy new products in just a few weeks.
