Mal
AI-native Islamic digital bank being built in Abu Dhabi
Based in Abu Dhabi, founded 2025
The numbers
2025Founded
Why it matters
Mal raised a $230 million seed round led by BlueFive Capital, described as the largest seed round in MEA history. It later received in-principle approval from the Central Bank of the UAE to operate as a fully licensed digital bank, aiming to serve Muslim and underbanked customers with Sharia-compliant, AI-driven banking.
Backed by
Founders
On Founding MENA
Founding MENA #2
An intro and a big start to the year for MENA tech!
19 Jan 2026
Mal: Abdallah Abu-Sheikh
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