Muslim entrepreneurs in Southeast Asia are benefitting from the region's burgeoning fintech scene, which focuses on Islamic Finance. Blossom Finance, a U.S.-based microfinance platform, is one of the most successful Islamic Fintech Startups in the region. Islamic finance prohibits interest, speculation, and financing non-halal products, making it a natural fit for products and services offered by Blossom Finance. Blossom Finance's Mudarabah agreement-based financing model is shariah-compliant, and allows for more flexible payment terms and tenure than traditional loans. Islamic fintech's small market size is expected to grow rapidly in the coming years, thanks in part to Blossom Finance and other successful Islamic fintech startups.

The post Muslims come into the frame in Southeast Asia’s fintech boom appeared first on Balanced News Summary.