{"id":5023,"date":"2022-01-31T02:53:09","date_gmt":"2022-01-31T02:53:09","guid":{"rendered":"https:\/\/blog.ethis.co\/?p=5023"},"modified":"2022-11-03T15:42:08","modified_gmt":"2022-11-03T15:42:08","slug":"crowdfunding-campaigns-good-fintech-extensions","status":"publish","type":"post","link":"https:\/\/ethis.co\/blog\/crowdfunding-campaigns-good-fintech-extensions\/","title":{"rendered":"Are crowdfunding campaigns good Fintech extensions of Islamic financing?"},"content":{"rendered":"\n

On the basis of financial inclusion, both crowdfunding campaigns and Islamic finance<\/a> go hand-in-hand as two different concepts with many correlating components. Combined with this era\u2019s empowering capacity for advanced technology, the aspect of fintech (financial technology) is thrown into the mix to form a very interesting ensemble of massive opportunities.<\/p>\n\n\n\n

The crowdfunding market alone is projected to grow to $300 billion by 2030, according to statistics released by Fundera<\/a>. More sectors are beginning to see the rise of prominent digital platforms dedicated to services that allow benefactors to pledge to a cause. <\/p>\n\n\n\n

At the same time, the global Islamic banking sector is worth about $1.99 trillion with a steady growth<\/a> of approximately 14 percent. Overall, Islamic banking has acquired a 6 percent share in global banking assets. This ultimately forms a colossal depiction of the strength seen in Islamic finance and related segments that revolve around Islamic teachings.<\/p>\n\n\n\n

It\u2019s clear to see that both concepts are working very well in the current modern financial landscape, and this reinforces the idea that both these concepts do work in tandem to create remarkable developments. <\/p>\n\n\n\n

Nevertheless, let\u2019s touch on some key points on how the fintech extension of crowdfunding is supplementing the strength and growth of Islamic finance. <\/p>\n\n\n\n

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Table of Contents<\/p>\n