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804 Mal Breaks MEA Records with $230m Seed Round to Build ‘World’s First’ AI-Native Islamic Digital Bank

The Fintech Times
The Fintech Times @ The Fintech Times · 01/20/2026 08:45 EDT

Mal Breaks MEA Records with $230m Seed Round to Build ‘World’s First’ AI-Native Islamic Digital Bank

Abu Dhabi-based Mal, founded by Abdallah Abu-Sheikh, has raised a record-breaking $230M seed round to launch the world's first AI-native Islamic digital bank. Aiming for a 2026 launch, the platform will combine ethical Sharia principles with advanced AI to serve the world's 2 billion Muslims and underbanked communities.

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