“We believe that Islamic finance should be treated not as a particular niche, but actually as a blueprint for how finance should work in the digital age.” – 00:01:57
Daniel Ahmed, Co-Founder and COO of Fasset, joins Remy Blaire to discuss the dynamic landscape of the global Islamic finance industry, which has recently surpassed $5 trillion in assets and is projected to double by 2030. Despite this significant growth, Remy highlights the ongoing challenges many individuals face in accessing authentic Sharia-compliant financial products, particularly in various regions around the world.
Daniel shares his insights on how inflation and currency devaluation are pushing emerging markets toward stablecoins, which serve as a vital tool for individuals looking to safeguard their savings and facilitate rapid cross-border transactions.
The discussion shifts to the principles of Islamic finance, with Daniel arguing that it should not be viewed merely as a niche but rather as a blueprint for modern finance. He emphasizes the importance of asset-backed financial products, contrasting this with the current state of the cryptocurrency market, which often lacks tangible value. Daniel articulates how Fasset aims to bridge the gap between traditional finance, Islamic finance, and the burgeoning world of digital assets, ultimately fostering sustainable wealth creation for people worldwide.
As the conversation progresses, Remy and Daniel delve into the Middle East, particularly Dubai, which has emerged as a significant player in the digital finance arena. Daniel notes that the region has received approximately $338.7 billion in crypto investments, making it the seventh largest crypto economy globally. He discusses how Dubai is striving to become a leading hub for digital assets through a careful balance of innovation and regulation. Daniel shares insights from his recent engagements with the UAE’s Virtual Asset Regulation Authority, emphasizing the importance of regulatory support in fostering an environment conducive to experimentation and growth.