Islamic Finance

What are fintech regulatory sandboxes and where are they?

Salaam Gateway | 10 August, 2017 Print

We're increasingly hearing about "fintech regulatory sandboxes" but what exactly are they and where in the world can they be found?

A fintech regulatory sandbox is a regulator-driven initiative that allows businesses to test innovative products, services, business models and delivery mechanisms in a live environment, according to a report from Deloitte and the Global Fintech Hubs Federation. Typically, some regulatory requirements are amended to create a bespoke framework for the duration of an on-market trial.

Among countries of the Organisation of Islamic Cooperation (OIC), Malaysia and the United Arab Emirates lead, with Indonesia hot on their heels. 

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What are fintech regulatory sandboxes and where are they?