And my next question is, which areas of Islamic finance are most ready to tokenize today? And how could this improve access, liquidity and distribution, both for Islamic investors and beyond?

Sure.

So I think we could start from that common ground that indeed Islamic asset classes are ready for tokenization.

But perhaps, as your question suggests, not all of them are equally ready.

So if I may address this by focusing on where tokenization solves a genuine market inefficiency while remaining faithful, compliant to Sharia principles, then I can perhaps start by focusing on three criteria for the most attractive, the most ready asset class or candidate.

So I would say these would be asset classes that have these three characteristics, clearly identifiable underlying assets, established legal and sharia structures, as well as a genuine distribution or liquidity problem that tokenization can solve.

So if we are to use this criteria, then the strongest near-term use cases for tokenization of Islamic asset classes lies in the sukuk, Islamic capital market, as well as in the mutual funds industry.

Alaa, feel free to add on to that in the way that we think about that with the Islamic network that we have.