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KUALA LUMPUR (March 9): Higher digitalisation and financial technology (fintech) collaborations can help strengthen the Islamic finance industry’s resilience and open new avenues for growth, said Bursa Malaysia Bhd chairman Tan Sri Abdul Wahid Omar.
He said technology is also being increasingly used towards enhancing financial literacy, which has a positive relationship with financial inclusion.
Increasing financial literacy could certainly increase participation in the Islamic financial system and the adoption of Islamic financial products and services, he said.
“Despite the challenging environment that affected the Islamic finance industry’s growth in 2020, Covid-19 offers an opportunity to accelerate and unlock its long-term potential.