Mal Moves Toward AI-Native Islamic Banking After UAE Regulatory Approval

Abu Dhabi-based fintech Mal has raised $230 million in a seed funding round led by BlueFive Capital. In May, the Central Bank of the UAE (CBUAE) granted preliminary approval to establish a Sharia-compliant digital bank.

The company is developing an AI-native architecture to deliver banking and investment services to the global Islamic finance market.