Vineeta Tan

Dubai Islamic Bank (DIB)’s board of directors have agreed to purchase a 25% stake in a new digital banking group in Turkiye.

e& enterprise, a subsidiary Emirates Telecommunications Group (better known as etisalat by e&), is acquiring a majority stake in Dubai-based P2P finance platform Beehive, which offers Shariah compliant products.

The Securities and Exchange Commission of Pakistan (SECP) is paving the way for digital brokers with a new regulatory framework.

UK-based Primary Finance has completed a year-long rebranding exercise in line with the start-up’s ambition of becoming a full-service Islamic fintech alternative, with a couple of new products slated in the coming year, IFN Fintech has learned.

After a management rehaul as well as an unexpected delisting, Caizcoin, a Germany-based company positioning itself as an Islamic blockchain ecosystem, has welcomed UFC rising star Khamzat Chimaev as its ambassador.

Al Mabrook, a blockchain tokenization platform based in Ontario, is considering seeking an exempt market dealer (EMD) license from the Canadian securities regulator as part of its growth strategy to bring Halal blockchain-based funding and investment solutions to the North American market, IFN Fintech has learned.  

Mahaana Wealth has rolled out Pakistan’s first Islamic money market fund under the Securities and Exchange Commission of Pakistan (SECP)’s Digital Asset Management Company (AMC) framework, making it the Republic’s first digital wealth manager to go live.

UK-based Wayhome, a homeownership financing platform, has raised GBP8 million (US$9.96 million) in Series A equity funding, providing the Islamic fintech start-up a cash runway to breakeven point.

IBF Net, the company behind the first Halal metaverse, Netverse, is building a virtual education city as part of its growth strategy.

SME digital financier Funding Societies will be expanding its Halal financing portfolio as it doubles down on its Islamic finance business in Malaysia.

The Saudi Central Bank (SAMA)’s investment into enhancing its payment infrastructure is paying off as it has exceeded the 60% retail e-payment target set by the Financial Sector Development Program (FSDP), latest figures show.

A buy-now-pay-later (BNPL) platform in Malaysia has secured a Shariah compliance accreditation in a bid to capture the Muslim market.

Bank Negara Malaysia (BNM) has released the second of a two-part consultation paper on the Consumer Credit Act (CCA), which will prioritize bringing currently unregulated non-bank credit providers and service providers including buy-now-pay-later (BNPL) platforms under its supervision.

Islamic payment fintech company Cashew Arabia Company for Information Technology (Cashew KSA) has onboarded a new investor, which will support the firm's digital lending business in Saudi Arabia.

IBF Net has commenced the initial offering of its IBFN tokens on the Polykick...

Saudi AZM for Communication and Information Technology Co has signed a non-binding MoU with AZM FinTech’s shareholders to fully acquire the latter’s shares.

Bank Negara Malaysia (BNM) intends to issue a new Financial Technology Regulatory Sandbox Framework, replacing the initial one issued in 2016, as an evolving landscape calls for a more efficient mechanism to test digital solutions.

Four years in the making, one of the three digital bank licensees in Saudi Arabia is now at the cusp of launching its operations.

Halal crypto Islamic Coin has announced a US$40 million grants and investment program to support Shariah compliant projects benefitting the project’s ecosystem.

Green-X, an Islamic ESG digital asset exchange (DAX), has merged with CryptoSX in a bid to develop the world’s largest security token offering (STO) platform.

Islamic investment group SEDCO Holding has launched a financial management program to support entrepreneurs...

The Malaysian arm of US-based Saturna Capital is working on expanding its digital product suite to include Islamic ESG funds, IFN Fintech has learned.

A Kuwaiti investment house has launched a Shariah compliant digital investment platform, deepening the State’s relatively nascent Islamic fintech market.

Islamic robo advisor Shirkah Invest is working on introducing a real estate product this year as it embarks on an aggressive expansion drive.