Finance Summit 2025: Forum Opens Discussions on The State of Islamic Fintech

By, Farah Zulkefli and Husna Faizal

GOMBAK, 15 November 2025: The State of Islamic Fintech 2025 forum, organised by the Islamic Finance Student Association (IFSA) in conjunction with the Finance Summit 2025, was held on Friday, 14 November 2025, at KENMS LT1.

The forum featured a distinguished panel comprising moderator Mr Mohd Suhaimi, Managing Partner of BerryPay and former Chief Executive Officer (CEO) of Standard Chartered Saadiq Berhad, along with speakers Mr Khairil Anuar Mohd Noor, member of the Shariah Committee at AIA Malaysia, and Mr Arham Merican, CEO of Sampul.

During the talk, Mr Khairil highlighted the role of fintech, or financial technology, in transforming today’s financial landscape. He emphasised that its importance lies in making the world a lot smaller, where services become more accessible and processes can be completed far more quickly.

He further explained that fintech enables faster and accurate financial transactions, and that it opens many opportunities for people involved in technology to be involved in banking and finance. He added that “Fintech is something that is available to you, make it possible through technology,” said Mr Khairil. 

On the issue of Islamic finance, the second panellist, Mr Arham explained that “Islamic finance in Malaysia started with the establishment of Tabung Haji. It was based on the faith and belief and also insights of Professor Diraja Ungku Abdul Aziz who recognised that riba’ is prohibited in Islam and looking at the reality of the Malays during his time, that was an anti-conventional banking system.” 

In the contemporary context, Mr Arham highlighted the need to highlight the benefits of the Islamic fintech to as many as possible, ensuring that the principles of ethical and accessible finance continue to reach the wider community. 

The moderator and panellists engage the audience in a discussion.

Mr Khairil highlighted that the main challenge in the financial industry is sustainability, as many fintech startups struggle with high development costs, talent expenses and low-margin models. He added that rapid technological advancement also presents major opportunities, as young innovators continue to create new solutions and business models.

Mr Arham noted that the Islamic finance industry faces challenges in mindset and acceptance among Muslims. For example, regarding crypto-based zakat payment gateways. While Selangor has adopted the system, other states remain hesitant due to concerns among Shariah scholars. He pointed out that Islamic finance has the opportunity to export local innovation and expertise to Muslim-majority countries.

Mr Khairil advised the students to pursue continuous learning. He also emphasised the importance of being brave and assertive, noting that to do so, one must first acquire knowledge. He shared his experience of working in the finance and banking industries for 40 years, attributing his success to knowledge.

He said, “Continuous learning is very important because there are many things we need to know, and knowledge is power. That is how we can survive in the real world. In order to gain knowledge, one should read extensively and ask many questions.”

Mr Arham highlighted the importance of curiosity and the willingness to try new experiences. He said, “We should always learn, unlearn, and relearn.” He shared his experience working at Bursa and spoke about accelerated learning, emphasising the need to cultivate a mindset of constantly pushing oneself to learn new things in order to remain competitive in the fast-paced environment.

Mr Suhaimi, the moderator, added that the real challenges in a career are not the career itself but ourselves. Drawing from his experience at Standard Chartered Bank, he said, “When we are working, we must always have the desire to explore and learn. When a boss assigns a task, we should accept it and try our best to complete it.”

He further emphasised the importance of mental resilience, suggesting that one should maintain hobbies, exercise, or spend time with friends and loved ones to avoid being overwhelmed by work. He stated, “Focusing on your job is important, but prioritising yourself is equally essential.”

The forum continued with a Q&A session and concluded with a photography session. The event was sponsored by Amanah Ikhtiar Malaysia, Amanie Advisors, IIUM Graduate School of Management, Top Global Food & Beverages, Dato’ Mohd Izani Ghani, CEO of Malaysia Airports Holdings Bhd (MAHB), and the Department of Finance, MyHeaven Printing, GL Play, and the Islamic Development Bank.***