FinTech platforms add Islamic finance capabilities

Canadian fintech company Goldmoney Inc (XAU.TO) has certified its gold-based financial products as sharia-compliant, the latest firm to combine blockchain technology to tap demand from Islamic investors. The move illustrates how fintechs, companies that use innovative technology to revamp banking services, are broadening their footprint to include the core markets for Islamic finance in the Middle East and Southeast Asia. Goldmoney provides financial products that are fully-backed by reserved gold and so fall in line with guidance issued in November by the Bahrain-based Accounting and Auditing Organization for Islamic Financial Institutions. Read more: