Mambu introduces audience programs to simplify Shari'ah-compliant solutions in the international banking and financial market.

The German core banking and payments platform Mambu has introduced fintech to upgrade the Internet Islamic banking system, which is expected to transform ethical finance. The transition enables banks, insurance companies and other financial institutions operating in the Middle East, Africa (MEA) and Asia-Pacific (APAC) to speedily develop and grow Shari Islamic products in the current rapidly changing banking and finance environment.

As it is projected that Islamic banking assets will reach the figure of over 3.8 trillion dollars by 2025, the innovations offered by Mambu come at the right moment. The improved offering consists of the Islamic Profit Sharing (IPS) tool and funding and financing solutions based on Shari’ah principles such as Murabaha, Mudarabha and Tawarruq.

Islamic banks do not only require digital tools but also an elastic platform that is designed to grow in an ethical manner, said Harjit Kang, Head of MEA at Mambu.

The cloud-based design and flexibility of Mambu's low-code platform allow it to grow easily within both Islamic and traditional banking systems, helping banks improve their operations, automate their practices, and adjust to the changing needs of customers and regulations in the global banking and finance world.

David Becker, Market Sales Director, APAC, said, “It is an important step on the way to our financial inclusion and ethical commitment.”

Having robust traction in both MEA and APAC already, the solution offered by Mambu will undoubtedly be the window through which the rules of Islamic banking adapt to meet the standards of modern-day banking and finance.