A digital Islamic bank just landed a massive investment for its AI-driven platform. Mal, founded by fintech entrepreneur Abdallah Abu-Sheikh, secured a strategic investment totaling two hundred thirty million dollars. BlueFive Capital led the funding round, which included various strategic investors and family offices backing the ethical finance vision.
The capital injection supports Mal's goal of building a smart and inclusive financial platform combining AI infrastructure with Islamic finance principles. Based in Abu Dhabi, the mobile-first digital bank is currently under development, targeting underbanked communities globally. Funds will accelerate product development, regulatory processes, and its market entry strategy.
A phased...