Quitting Our Jobs To Launch A £25M Islamic Fintech | Daeng Termizi & Areeb Siddiqui Ep 46

In this episode of Muslim Money Talk, co-founders Areeb Siddiqui and Daeng Termizi dive deep into the journey of building Kestrl, a Muslim fintech startup, from meeting during their MBAs at Cambridge to launching a full-fledged digital Islamic bank. They also explore the philosophy behind Islamic economics, Malaysia’s unique position in Islamic finance, and reflect on the spiritual and economic motivations driving their mission.

This podcast is hosted by Areeb Siddiqui, the founder and CEO of Kestrl, the app that helps people to grow their wealth without compromise

Find out more about our app here: https://kestrl.io/

And how we help banks here: https://business.kestrl.io/

Show Notes:

00:00 - Opening trailer

02:38 - Intro

04:08 - Childhood in Malaysia and education

08:45 - Malaysia as a hub of Islamic Banking

11:36- Doing the MBA at Cambridge

14:18 - First meeting and the idea for Kestrl

21:33 - Monzo for Muslims?

23:45 - 1st funding round and feedback

26:06 - Daeng's side hustles to survive

30:36 - Finding the right co-founder/CTO

35:17 - Hiring the in-house tech team

40:53 - Going B2B SaaS

42:28 - Launching the Kestrl digital bank

43:37 - Should Muslims move to Malaysia?

48:11 - Malays having different rights

56:46 - What is the Ideal Islamic Economy?