Mohammad Raafi Hossain
Mohammad Raafi Hossain is an entrepreneur and financial technology executive with a background spanning digital assets, Islamic finance, international development, and environmental economics. He is the co-founder and CEO of Fasset and previously founded Finocracy, led the Narwi Waqf crowdfunding project at Silatech, advised the UAE Prime Minister’s Office, and held roles in program and environmental economics with the United Nations and FAO. [2]
Education
Hossain graduated from the University of California, Berkeley, with a Bachelor’s in Environmental Economics and Policy. He later earned his Master’s in Sustainable Development from Harvard University. [3]
Career
Hossain began his career at the Food and Agriculture Organization of the United Nations, where he served as Programme Manager and Environmental Economist in Amman, Jordan. He worked on environmental and agricultural development programmes related to Iraq and the wider Middle East, including projects addressing environmental degradation, agricultural education, food security, and resource mobilization. He subsequently became Officer in Charge of the Baghdad Office at United Nations OCHA, where he managed emergency and development programme activities in Iraq and contributed to agricultural growth, employment, and rural development initiatives.
Hossain later served as Chair of the Environmental Priority Working Group at the UN Environment Programme, coordinating environmental policy and projects involving UN agencies, international organizations, and Iraqi government counterparts. His work included drought-risk mitigation, sand and dust storm management, environmental policy, and sustainability frameworks for Iraqi private-sector businesses. He then joined Silatech as founder of the Narwi Waqf project, a crowdfunding platform based on the waqf model, where he worked on the development of the micro-waqf concept, platform interface, and its application to Islamic microfinance.
In 2016, Hossain founded Finocracy, a financial technology venture based in the United Kingdom. He subsequently served as an Advisor to the UAE Prime Minister’s Office, where his work included emerging technology initiatives such as the GovHack Series startup competition and the UAE-India Artificial Intelligence Bridge.
Since 2019, Hossain has served as Co-Founder and CEO of Fasset, a financial technology company focused on digital assets, stablecoins, payments, investment products, and cross-border financial services. Under his leadership, Fasset has expanded its offerings to include consumer, business, and institutional financial products and developed Own Network, an infrastructure layer connecting banking, payment, liquidity, custody, and settlement services across international markets. [4]
Interviews
UAE Crypto Banking
In a February 2026 interview with CCN, Hossain discussed the UAE’s role as a hub for cross-border trade and crypto adoption, arguing that its geographic position, diverse population, and evolving regulatory frameworks create favorable conditions for blockchain-based financial services. He contrasted this with the fragmented and costly nature of traditional banking and cross-border payment infrastructure, while highlighting regulatory sandboxes such as Malaysia’s as a means of testing Sharia-compliant, zero-interest financial products. Hossain also discussed how changes to US crypto regulations could support international cooperation and identified stigma, limited understanding, and usability issues as key barriers to adoption. He emphasized the importance of practical applications and simple user experiences, citing Fasset’s cards as an example of how blockchain-based services can be made accessible without requiring users to manage private keys, and argued that trust, usability, and everyday relevance will drive sustained adoption, particularly in emerging markets. Looking ahead, he predicted that stablecoins would play an increasingly important role in cross-border capital flows and other real-world financial applications, gradually shifting crypto usage away from speculation. [5]
Unlocking Wealth
In an April 2025 interview on the How Does It Work podcast, Hossain discussed Fasset’s approach to providing access to global investment markets through digital financial infrastructure, particularly for users in Pakistan. He emphasized long-term investing and diversification, noting that restrictions on international investment had historically limited access to overseas assets, while digital financial platforms could make it easier for individuals to participate in global markets and repatriate returns. Hossain also discussed Pakistan’s economic challenges and the role of its young, technically skilled population in developing new businesses and technologies. The conversation covered Islamic finance, including the potential for risk-sharing financial products to broaden participation in investment and entrepreneurship, as well as the importance of policies that support innovation and investment. He concluded by discussing the role of individual initiative, discipline, entrepreneurship, and global economic participation in Pakistan’s future. [6]
