[Panel] Azimuth Dialogue 1: Building the Rails: What Has to Exist Before Anything Scales

Uzbekistan's Instant Payment System moved more than $12.2 billion in May 2026 alone. World-class payment rails. Zero Islamic finance rails. That gap is the panel. Globally there are 484 Islamic fintech firms across 41 countries - and 80% of them sit in ten. The IFSB's own reports keep returning to the same diagnosis: underdeveloped market infrastructure, thin local-currency sovereign issuance, low trading volumes. Not a demand problem. A plumbing problem. Builders argue about what gets laid first.