For any startup vertical or infant industry to thrive, collaboration and ecosystem development are key. Two Islamic economy startups Ethis and Elmangos Ventures have come together to launch the Islamic Fintech Week, a virtual event crafted to contribute to the development of Islamic FinTech ecosystem.
Both startups embody the spirit of collaboration, with Ethis’s co-founders Umar Munshi and Ronald Wijaya, the President of the Islamic Fintech Alliance and the Association of Shariah Fintech Indonesia respectively, and Elmangos, which has a unique track record of content and program development in the field of Islamic digital economy and enabling the development of the global Halal digital ecosystem.
Umar Munshi, co-founder of Ethis said, “We’ve witnessed unprecedented growth in Islamic fintech these past six months. From government initiatives to new startup and product launches, Islamic fintech has suddenly burst to the scene! We aim to bring together all the different parts into one forum to jumpstart its growth potential.”
Abd Elmohaimen Mansi, founder of Elmangos added, “With the global economy experiencing new challenges in recent months, collaboration and cooperation is key to sustain and grow. We believe that providing a virtual roof under which to gather major players of Islamic fintech is critical and much needed now.”
Fintech is the new frontier for Islamic finance as countries worldwide grapple to revive the real economy and bring jobs to the market. Islamic fintech has seen a surge in traction and interest in recent months, regarded as a potential solution for sustainable and impactful solutions that are participatory in nature.
The theme of IFW2020 is ‘Envisioning Islamic Fintech’s Future’, with marked emphasis on financial inclusion and sustainable finance.
Ethis has served investors from more than 100 countries on its Islamic crowdfunding and investment platforms, including its award-winning Property Crowdfunding platform in Indonesia. It is also approved by authorities to launch two firsts – Islamic Equity crowdfunding in Malaysia and Islamic Property crowdfunding in Dubai.