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Saudi Islamic fintech company Rakeez Capital has raised U$2 million in seed capital in a round led by Core Vision Investments. The start-up will use the funding to develop its debt and investment offerings including incorporating artificial intelligence (AI) into its solutions.

The first, and only, fully-fledged Shariah compliant bank in Australia has surrendered its restricted banking license to the Australia Prudential Regulation Authority (APRA) due to struggles in raising the capital needed to maintain the hard-earned license, the neobank confirmed.

Estate planning is a major challenge in Malaysia, with the upper bound of frozen assets in the country estimated at RM90 billion (US$19.36 billion). ISFI, the sister publication of IFN Fintech, spoke to Ariffin Sabirin, the founder of Wasiyyah Shoppe, and Khairul Nisa Ismail, CEO of Sedania As Salam Capital, about how they are collaborating to address the estate planning challenge for Muslims with the Hibah instrument.

In yet another move toward its Islamic metaverse ambition, IBF Net Group has launched Credence, a platform enabling the creation of Shariah compliant digital assets using non-fungible tokens (NFTs) on Algorand.

Maydan Capital, which recently launched an equity crowdfunding platform that offers technology-focused investors ethical and Halal investment opportunities. “Too often, when Muslims and other ethical...

IFN Fintech has learned that private capital exchange ADDX is keen on offering Shariah compliant digital securities on its platform. This follows its latest...

Islamic fintech is a key focus of the Saudi Central Bank (SAMA)’s new Islamic Finance Research Support Program, underscoring the regulator’s commitment to developing...

A UK-based entity, backed by international investors, is setting up a US$1 billion fund to invest in Islamic and ethical financial innovations, underscoring the...

Baxian Private and Investment Bank in May 2021 received formal approval from the Labuan Financial Services Authority (LFSA), the regulator of the Malaysian offshore center Labuan, to operate as a full deposit-taking digital bank offering Shariah compliant services.