Canadian fintech firm Goldmoney , is combining blockchain tech and sharia-compliant certification to carve out a place in Canadian finance in the Middle East and the Middle East . As the firm's products, which will range from wealth management to remittance, are backed by reserved gold they fall in line with guidance issued by Bahrain -based Accounting and Auditing Organization for Islamic Financial Institutions . The firm began exploring sharia compliance in March of last year, said Alasdair Macleod, the firm’s head of research, adding its products will range from wealth management to the remittance market. Malaysia -based Accounting and Auditing Organization for Islamic Financial Institutions is rolling out a similar platform to Goldmoney , eyeing Bahrain , the Philippines and Thailand in 2017 and Bahrain by 2019 . It is suggested that fintechs will likely drive down costs to consumers, targeting the under-served and unbanked.
Canadian fintech firm Goldmoney , is combining blockchain tech and sharia-compliant certification to carve out a place in Canadian finance in the Middle East and the Middle East . As the firm's products, which will range from wealth management to remittance, are backed by reserved gold they fall in line with guidance issued by Bahrain -based Accounting and Auditing Organization for Islamic Financial Institutions . Malaysia -based Accounting and Auditing Organization for Islamic Financial Institutions is rolling out a similar platform to Goldmoney , eyeing Bahrain , the Philippines and Thailand in 2017 and Bahrain by 2019 . It is suggested that fintechs will likely drive down costs to consumers, targeting the under-served and unbanked.