Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Mal has raised $230 million led by BlueFive Capital to build an AI-native Islamic digital bank targeting underbanked communities. Headquartered in Abu Dhabi, the mobile-first platform will launch in 2026, starting in the UAE before expanding across the Middle East and Asia, combining ethical finance with intelligent digital infrastructure.
VEON has launched Islamic banking services in Pakistan through Mobilink Microfinance Bank, opening its first branch in Karachi with expansion planned nationwide. The initiative supports financial inclusion and responds to rising demand for Shariah-compliant banking, as Islamic banking assets now account for over one-fifth of Pakistan’s banking sector.
Veon’s Mobilink Bank has launched Islamic banking services in Pakistan, opening its first Shariah-compliant branch in Karachi and planning nationwide expansion. The move taps into the country’s fast-growing Islamic banking sector, supporting financial inclusion and offering faith-aligned deposit and financing products through physical and digital channels.