Global digital security firm, Gemalto is supplying Jordan Islamic Bank (JIB) with Mobile Protector, a strong banking authentication solution which enhances the safety and speed for one-time password (OTP) delivery, allowing for secure mobile banking login and transaction authentication. Using their familiar mobile app, they can instantly generate an OTP, making the enhanced security very easy to use. “As mobile technology improves, it's becoming clear that security and convenience are key for consumers,” said Moath Ismail, Digital Banking Director for CISMEA region at Gemalto. Alongside the expanding digitalisation in Jordan, there is increased concern over security. Recent research shows that 44 per cent of consumers would leave their bank in the event of a security breach, and 38 per cent would switch to a competitor offering a better service. The key to success for......

An industry body for Islamic banks has warned of uneven impact from a decline in correspondent banking, reinforcing concerns that small lenders in developing economies will be most affected from 'de-risking' by international lenders.

The Bahrain-based General Council for Islamic Banks and Financial Institutions (CIBAFI) raised the issue in a letter to the Financial Stability Board, which coordinates financial regulation for the Group of"...

One of the fastest expanding financial services sectors globally is Islamic finance, which has consistently shown growth rates of around 10 to 12 per cent annually over the last two decades and has assets of around £2.5 trillion. Outside the Middle East and Asia, the UK is the leading hub for the sector and was the first non-Muslim majority country to issue a sovereign Islamic bond, known as sukuk, of £200 million in 2014.

There are"...