Pakistan-based Abhi, which offers Shariah compliant digital financial services, has raised US$17 million in Series A funding, bringing its valuation to US$90 million.
UK Halal investment platform Maydan Capital has partnered with Saudi Aramco Entrepreneurship Center’s Wa’ed Ventures to channel Shariah compliant investments into ethical Saudi fintech start-ups.
Investors — both conventional and Islamic — are warming up to Halal crypto-based projects as evident by more related Shariah fintech start-ups winning investments, a sign that is likely to be a boon for the Islamic fintech sector.
Halal cryptocurrency exchange Rain has introduced 0% trading fees, one of the most competitive fee structures in the region, in a bid to expand its Middle Eastern customer base.
Shariah compliant investment holding company Radiance Assets has reached a final agreement on acquiring 2.45 million shares in DeepMarkit Corp, a Canadian public listed firm, for a gross amount of CA$2.08 million (US$1.65 million), allowing it to form a carbon offset arrangement.
Malaysia-based Split, a Shariah-certified buy-now-pay-later (BNPL) fintech provider, has onboarded Muslim lifestyle app TheNoor, offering the latter’s 2.2 million customers access to Riba-free point-of-sale financing for e-commerce transactions.
Islamic finance and Halal advisory firm Adl Advisory will be tokenizing its Shariah pronouncements using IBF Net’s Credence platform, a sign of the expanding adoption and diversifying utility of blockchain technology within the Islamic finance industry.
Having successfully closed a US$1 million seed round in February, Uzbek Islamic fintech start-up...
State Bank of Pakistan (SBP) has received 20 digital bank applications from a range of institutions, in an exercise the regulator said reflects the confidence market players have in the Republic’s financial sector.
Islamic challenger banking start-up MoneeMint has hired Kevin Guy, a former regional director for wealth management at NatWest, to oversee its launch and operations across the UK, wider Europe and the Gulf region as group COO.