MYTM and AlHuda CIBE Partner to Drive Global Expansion of Islamic FinTech
(Dubai - UAE – 6th May, 2024): In a momentous step for the future of Islamic FinTech, MYTM, a leading Islamic FinTech company, and AlHuda Centre of Islamic Banking and Economics (CIBE), a globally recognized service provider in Islamic finance, have signed a Memorandum of Understanding (MoU) today. The signing ceremony was graced by Dr. Sohail Zafar Cheema, Chairman of MYTM and former Minister of Commerce & Investment, and Mr. Muhammad Zubair Mughal, Chief Executive Officer of AlHuda CIBE, while Dr. Zain Farooq- CEO of MYTM Pakistan and Jawad Mahmood- CEO of MYTM KSA also present at this occasion.
This strategic partnership signifies a significant advancement in both organizations' commitment to fostering innovation and accessibility within the Islamic finance landscape. Through this collaboration, AlHuda CIBE will leverage its extensive global network and expertise to spearhead the marketing and distribution of FINOVA; MYTM's innovative Islamic FinTech suite.
AlHuda CIBE, a beacon of excellence for 19 years, has established itself as a cornerstone of Islamic finance. Renowned for its comprehensive solutions, the organization offers a wide range of services, including advisory, consultancy, capacity building, and research and development initiatives. By a team of dedicated professionals, AlHuda CIBE has demonstrably extended its reach across the globe, serving clients across the Americas, Africa, Central Asia, Asia, and the Middle East.
Recognizing the transformative power of technology, AlHuda CIBE has embarked on a forward-thinking journey by integrating cutting-edge FinTech solutions into its service portfolio. From the transformative power of Blockchain to the potential of Artificial Intelligence (AI), AlHuda CIBE is actively exploring InsurTech, Blockchain applications, cryptocurrencies, NFTs, CBDCs, RegTech, Metaverse, AR, VR, Robo advisory, and Neo banking solutions. This MoU is a cornerstone will allow them to consistently deliver the most advanced tools for Islamic banking and finance.
The Islamic finance industry is experiencing an era of unprecedented growth, fueled by its core principles of sustainability and viability. As awareness of interest-free finance solutions continues to rise, MYTM steps forward with its innovative suite of Islamic FinTech products. Through this partnership, MYTM gains a powerful ally in AlHuda CIBE, allowing them to leverage their expertise and global network to propel their offerings into new markets. The collaboration paves the way for MYTM's Islamic FinTech products to reach a wider audience and contribute to the industry's global expansion.
Technology has undeniably reshaped almost every industry, and financial services are no exception. FinTech advancements have revolutionized financial transactions, making them more convenient, efficient, and cost-effective for consumers and institutions alike. This collaboration between MYTM and AlHuda CIBE recognizes the pivotal role FinTech plays in the future of Islamic finance. By combining MYTM's innovative solutions with AlHuda CIBE's established network and expertise, the partnership aims to drive the industry towards a more sustainable and accessible future.
This strategic alliance between MYTM and AlHuda CIBE signifies a significant leap forward in the development and global accessibility of cutting-edge Islamic FinTech solutions. With both organizations sharing a commitment to innovation and advancement, this collaboration is poised to revolutionize the future of Islamic financial services.
About AlHuda CIBE: For over eighteen years, AlHuda Center of Islamic Banking and Economics (CIBE) has established itself as a cornerstone of the Islamic banking and finance industry. CIBE goes beyond mere research, offering a comprehensive suite of services designed to empower and cultivate excellence within the sector. Their distinguished expertise encompasses a variety of solutions, including advisory and consultancy services, Shariah advisory for ensuring adherence to Islamic principles, and training workshops equipping professionals with the necessary knowledge and skills. Furthermore, CIBE actively assists institutions in developing innovative Islamic financial products and provides specialized consultancy services for Islamic microfinance and takaful (Islamic insurance), fostering their growth and development.
CIBE's influence extends beyond its direct services. Their highly-respected publications on Islamic banking and finance contribute significantly to a continuously evolving and informed industry landscape. This unwavering commitment to knowledge sharing underscores their dedication to serving the global community as a unique institution, not just an advisor but also a capacity builder. Their dedication transcends geographical boundaries, with CIBE actively serving clients in over 35 countries worldwide. This global reach reflects their commitment to accelerating the development of a robust and accessible Islamic banking and finance industry.
For further details about AlHuda CIBE and its extensive repertoire of services, please visit: www.alhudacibe.com
For Media Contact:
Ms. Shaguftta Perveen
Manager Communications,
info@alhudacibe.com
Call: +971 52 865 5523