GET IN TOUCH:
+(44) 7407 188
118
contact@cykube.com
Kemp House, 124 City Road London, England,
EC1V 2NX
+(44) 7407 188
118
contact@cykube.com
Kemp House, 124 City Road London, England,
EC1V 2NX
ISLAMIC FINANCIAL INDUSTRY & EMERGING TECHNOLOGY
Asset Management, Trade Finance & Takaful expert advice.
End-to-end development from conceptualization to launch.
Unlock liquidity by digitizing real-world asset ownership.
Central Bank Digital Currency design and implementation.
Comprehensive infrastructure for digital wallet solutions.
Consultancy, design, and build for global payments.
Automated compliance and identity verification solutions.
Modernizing insurance with data-driven technology.
Fintech can be used as a tool to simplify current complex systems and procedures which are the hindering blocks for the growth of the industry globally.
The use of emerging technologies for Islamic financial transactions helps in automating the operational aspects of the Islamic financial transaction which helps in reducing cost, saving time, and making more liquidity available in the ecosystem.
It helps the Islamic finance industry to standardize the entire or part of the process, increasing the adaptability by simplifying the process and ultimately helping to realize the true potential.
A cybersecurity strategy is primarily a risk management and risk mitigation approach used to ensure policies, procedures and tools are in place and regularly updated to reduce the risk of a cyberattack on the organization. The prolonged and severe pandemic has brought many risks for banks but one of the biggest is the increase in cyberattacks. From February to April 2020, there was a 238% increase in cyberattacks on the financial sector globally, according to Carbon Black. The biggest impact of a cyberattack is productivity loss resulting in direct financial loss and damage to the brand.
Islamic finance has a long history. However, it has only developed on a global scale over the last 30 years. Islamic finance reached the UK in the 1980s with the first commodity Murabaha transactions and the launch of the first UK Islamic bank, Al Barakara International in 1982. During the 1980s a number of investment banks offered bespoke Sharia compliant products to their Middle Eastern clients, mostly in the areas of trade finance, leasing and project finance.
Shariah compliant pensions have yet to be explored by Islamic financial institutions. As per the PWC research report, "Asset management 2020", the global size of pension fund assets would reach US$57 trillion by 2020 from the current figure of US$36 trillion, whereas MENA and Asia Pacific will constitute US$5 trillion and US$6.5 trillion respectively by 2020. The majority of the 1.7 billion Muslim population live in MENA (20%) and Asia Pacific (62%) which are potentially major markets for Shariah pensions. If Shariah pensions can take only 10% of this potential market by 2020, it could be projected to reach US$1 trillion by 2020.
The future is bright, but it needs the right expertise to get there. We are here to make it happen.
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