KUALA LUMPUR, November 2018 FINTERRA, a Malaysian based FinTech company was honored to be the first ever Blockchain-based Islamic Finance solution provider, at the inaugural WIEF-UEF roundtable forum that focused on innovative financing for business and investment opportunities, held in Chennai, India, recently.
The Roundtable looked to address if Islamic Finance can be the solution to ‘Innovative and Alternative Finance for Business and Infrastructure Development in India’ and was jointly organised by the United Economic Forum (UEF) Chamber of Commerce, and World Islamic Economic Forum (WIEF) Foundation. Launched by Hon. Deputy Chief Minister of Tamil Nadu, Shri. O. Panneerselvam, with Hon. Minister for Industries, Shri. M.C. Sampath, and Tun Musa Hitam, Chairman, WIEF Foundation delivering keynote address.
The event hosted many prominent luminaries in the field of Islamic financing such as Raja Teh Maimunah Raja Abdul Aziz, Managing Director, Wholesale Banking, AmBank Group; Dr. Mohamed Damak, Global Head of Islamic Finance, S&P Global Ratings, France and Abdelilah Belatik, Secretary General, General Counsel for Islamic Banks and Financial Institutions, Bahrain.
FINTERRA’s Founder, Mr. Hamid Rashid, presented how Blockchain technology can be harnessed to raise capital via crowdfunding for the development of Endowment/WAQF properties in India. FINTERRA’s WAQF Chain solution is recognized globally for addressing financial inclusion for those that have difficulty participating in the global financial system.
As Mr. Hamid went on to say, “The WAQF Chain solution provides for the ethical and socially sustainable investment in WAQF Asset Development, helping users to achieve financial freedom, independence and wealth creation due to technological advances in blockchain architecture.”