856. Insights: How can Islamic finance serve Western markets?

47min listen

856. Insights: How can Islamic finance serve Western markets?

Rachel Pandyan is joined by some great guests to discuss how how Islamic financing works, what Western banks can learn from Shari’ah compliant services and the challenges of launching and scaling Islamic financial services in Western or non-Muslim countries.

Since the turn of the century, Muslim populations across Europe and North America have increased massively, with 44 million in the former, and over 5 million across the US and Canada.

As the needs of the population become more diverse, how does the financial ecosystem scale to meet those needs and what role can fintech play to fill the gaps where the incumbents are not supporting those needs?

This week's guests include:

  1. Abdul Haseeb Basit - Co-Founder and Principal at Elipses, CFO at GDF and Partner at the Islamic Fintech Fund
  2. Dr. Mohamad Sawwaf, Co-Founder & CEO at Manzil
  3. Umer Suleman, Chief Risk Officer at Wahed

Highlights from this episode:

  1. Definitions of islamic finance
  2. The opportunity space to serve the Muslim population in Western markets
  3. The impact Islamophobia has on Islamic Finance and Muslim customers
  4. The role fintechs can play in providing solutions


Fintech Insider by 11:FS is a bi-weekly podcast dedicated to all things finance, banking, technology, and financial services. 

Our expert hosts, with real industry experience, are joined by the biggest decision-makers, VCs, and reporters from across financial services including guests from Visa, Nubank, M-Pesa, Starling, and JP Morgan Chase to discuss the latest news, developments, and trends within the industry.

Our weekly news show drops every Monday and tackles the biggest news stories, from acquisitions and launches, to regulatory changes and innovation. Then, every Friday our Insights show dives deeper into the hottest topics shaping the industry like web3 and BNPL.

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