Cashback Savvy Providing Modernize Islamic Banking

Financial sector has been experiencing significant growth, driven by digital transformation and consumer behavior shifts. In addition, Bahrain and GCC governments are inspiringly and encouraging to create innovative Islamic financing products and Fintech apps. However, the challenge is always that these products are merely a replication of traditional products. Another challenge that is faced by Islamic finance industry is the customers' weak level of Islamic finance literacy which hinder many of them from leveraging products. Financial institutions should remedy these challenges by exploring innovative strategies to maximize customer centric service. We propose in this paper a new financial product/service that leverages existing Islamically compliant services and products. The solution eases the financial burden of customers as well as provide monetary rewards and Takaful benefits.