This document analyzes the Islamic FinTech landscape in 2017. It identifies 103 FinTech companies across 24 countries that self-identify as being fully sharia compliant or offering sharia compliant products. The largest verticals are crowdfunding platforms (35%), banking software (18%), and payments, remittances, and foreign exchange (14%). The top locations by headquarters are Malaysia (18), the UK (16), Indonesia (15), the UAE (12), and the USA (11).

1. The Islamic FinTech
Landscape 2017

2. ISLAMIC FINTECH LANDSCAPE
HIGHLIGHTS
§ The Islamic FinTech Landscape 2017 includes FinTechs that have self identified as being fully sharia compliant
or have sharia compliant products
§ There are 103 FinTechs identified across 24 countries, however, there may more yet to be identified
§ There are broadly 9 verticals to which these verticals belong, Crowdfunding; Banking Software; Payments,
Remittance & FX; PFM, Trading & Investment; Alternative / P2P Finance; Blockchain & Crypto Currency;
Challenger/Digital Bank; InsureTech; Data & Analytics
§ The largest groups are Crowdfunding Platforms (35%), followed by Banking Software (18%) and Payments,
Remittance & FX (14%)
§ This is consistent with the evolution of mainstream FinTech where the early traction was in Alternative Finance,
Payments, Remittances & FX, all verticals with low regulatory friction or an underserved consumer need
§ The top HQ locations are Malaysia (18), UK (16), Indonesia (15), UAE (12) and USA (11)
§ Geographically the dominant players are in established Islamic Finance hubs, Malaysia, Indonesia and UAE
and established FinTech hubs UK and USA
2

4. 4
ISLAMIC FINTECH LANDSCAPE
VERTICAL ANALYSIS
36
18
14
12
11
5
4
2
1
Crowdfunding Banking Software Payments,
Remittance & FX
Alternative / P2P
Finance
PFM, Trading &
Investment
Blockchain &
Crypto Currency
Challenger/Digital
Bank
InsureTech Data & Analytics

5. 5
ISLAMIC FINTECH LANDSCAPE
GEOGRAPHIC ANALYSIS
U.S.A.
11
Canada
1
U.K.
16
Malaysia
18
Indonesia
15
U.A.E
12
Somalia
1
Pakistan
3
India
4
Egypt
4
France
1
Morocco
1
Sweden
1
Russia
1
Iran
1
Luxembour
g
1
Hong Kong
1
Switzerland
2 Hungary
1
Lebanon
1
Jordan
2
Kuwait
1
Qatar
1
Singapore
3