Islamic fintech’s dilemma; Pakistan legalises crypto; IsDB secures US patent

March 06, 2026

Pulse of the Global Islamic Economy

Ramadan 17, 1447 AH

Assalamualaikum,

As the Middle East region - and the world at large - continues to grapple with mounting strife and violence, we pray for the safety of all. May you and your loved ones stay safe and protected from all manner of trials. Amen.

We lead the newsletter with how Islamic fintech startups are growing in number, but somehow lack a highly scalable business model that beckons venture capital investment. 

Across South Asia, Pakistan has passed a bill legalising cryptocurrencies and establishing a regulatory framework for digital asset trading.

And finally, the Islamic Development Bank Institute has secured a US patent for a new blockchain consensus model called Proof-of-Use. 

Did you know?

Fintech has become mainstream over the past decade, with global revenues projected to reach $1.5 trillion by 2030, while Islamic fintech is growing alongside it to meet rising demand for Shariah-compliant financial services, expanding from $198 billion in 2024/25 to a projected $341 billion by 2029.

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