The banking industry is looking to achieve strong customer authentication, consent and reliability as required by PSD2, Open Banking and GDPR.
Rain was founded in 2016 by four entrepreneurs Yehia Badawy, Abdullah Almoaiqel, AJ Nelson and Joseph Dallago.
Additionally, many firm founders and principals are approaching retirement age, not unlike their baby-boomer clients.
Al Mustashar will be implementing ICS BANKS ISLAMIC Core Banking System, Credit Facilities & Risk Groups, Murabaha, Musharaka, Ijara, Mudaraba, Qard Hasan, Time Deposit, Profit Distribution, Remittances and Trade Finance.
Most regulatory agencies have been wrangling with the digital currency concept for years, searching for existing regulations that could be used to police exchange compromises and protect investors from outright fraud.
The IIFM-BAFT MPA’s are developed based on a comprehensive industry consultation process under the guidance of the IIFM Shari’ah Board and provide the financial market participants with a robust and ready to use documentation,” said Ijla