25 March 2021
ISLAMIC FINANCE & BNPL: THE OPPORTUNITY AHEAD
The rapid global growth of buy now pay later (BNPL) services is making a strong case within Islamic finance (IF), with numerous fintech firms establishing their operations and actively marketing their interest-free unsecured credit to consumers. These firms are focused on aligning their services with local regions’ ethical values, Shariah compliance principles and providing a marketable alternative to their traditional counterparts. The increase in volume and velocity of BNPL transactions has prompted regulator attention and the need for consumer protection.