Islamic bankers hope that modern platforms will open the industry up to young investors
In this file photo taken on March 8, 2020, traders follow financial markets at the Dubai Stock Exchange in the United Arab Emirates. But with complex standards set out by a number of Islamic bodies, it's not easy for observant Muslims to decide whether or not an investment is halal .Tesla, the American electric car pioneer, for example, is considered 96 percent Sharia compliant, according to the Zoya mobile application.
Islamic bankers are hoping that modern platforms will open the industry up to young investors, and that its innately ethical credentials will prove to be another draw. Financial technology, or fintech, could help the industry grow by "facilitating easier and faster transactions", it said in its Islamic Finance Outlook 2020 Edition.
And the Responsible Finance & Investment Foundation, a think tank, has talked up their ability to respond to the latest crash, due to the fact they are anchored in the real economy.
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