iHilal urges Islamic finance world to embrace Internet

Islamic e-finance leader says Islamic investment products and the Internet are a perfect way to grow business and serve customers better.

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By  David Ingham Published  November 15, 2001

iHilal Financial Services, an online Islamic financial services provider, took last week’s World Islamic Banking Conference in Bahrain as an opportunity to spread the word about online investing. Through a series of educational activities and seminars, iHilal showed around 50 top financial institutions how the Internet can be used to offer more people access to Islamic investment products.

“The World Islamic Banking Conference presented an ideal opportunity for iHilal Financial Services to meet with the main players in the Islamic banking industry worldwide, as well as the Middle East’s regional leaders,” said Ramzi Abu Khadra, CEO of iHilal Financial Services.

“The conference enabled us to present iHilal’s diversity of Islamic financial services, and the role these services play in helping banks to provide advanced Islamic online financial services and products to their customers,” added Abu Khadra.

Abu Khadra claimed that Islamic investment products and the Internet can be used together to generate more business for banks and offer more products and services to customers. iHilal provides a Portfolio Management Solution that allows private banks and financial advisors to offer Islamic financial products and services.

“iHilal’s portfolio Management Solution provides IFA’s and private banks the immediate ability to tap into the lucrative and rapidly growing Islamic financial market,” Abu Khadra explained. “It is an ideal service for financial advisors who are looking to improve revenue and gain an edge in an increasingly competitive environment.”

The Islamic finance market is booming worldwide as more and more mainstream and international banks begin to offer Islamic investment products. Around $200 billion is currently believed to be invested in Sharia’h compliant products.

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