Islamic finance players’ crucial role in the digital economy

Mohd Muazzam (pic) said Bank Islam, being the first Islamic bank in the country, had taken charge to establish the Centre of Digital Experience (CDX) and was now working to lay a foundation to set up a sub-brand digital banking window to help harness the growing digital economy.

PETALING JAYA: The Islamic finance industry can play a more significant role in the global digital economy by experimenting and employing new technology solutions, said Bank Islam Malaysia Bhd CEO Mohd Muazzam Mohamed.

Noting that the pandemic had accelerated digital shifts, he urged industry players to take charge of the digital economy.

Mohd Muazzam (pic) said Bank Islam, being the first Islamic bank in the country, had taken charge to establish the Centre of Digital Experience (CDX) and was now working to lay a foundation to set up a sub-brand digital banking window to help harness the growing digital economy.

He said the CDX would innovate and push new boundaries.

He said this during a session on “Global Update on Islamic Digital Banking and Islamic Fintech” at the 16th Kuala Lumpur Islamic Finance Forum held virtually yesterday. ─ Bernama