Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
DIB Pakistan has partnered with Zindigi to offer a Shariah-compliant current account operated directly through the Zindigi app. The collaboration aims to expand digital banking access, enhance financial inclusion, and support the growth of Islamic fintech services in Pakistan.
Engro has acquired over 10,000 telecom towers from Deodar through a $475 million fully Shariah-compliant financing structure. The deal strengthens local ownership of telecom infrastructure and supports cost-efficient shared tower models aligned with Pakistan’s digital growth goals.
Engro has secured $475 million in one of Pakistan’s largest Shariah-compliant financings to acquire Deodar and over 10,000 telecom towers. The deal strengthens shared telecom infrastructure, supports cost efficiency, and aligns with Pakistan’s push for digital connectivity and Islamic finance-led growth.
Meezan Bank, Haball, and Dawlance have expanded the Wisaaq platform by launching a Murabaha-based digital supply chain financing facility for Dawlance distributors. The initiative delivers instant, Shariah-compliant financing to improve liquidity, speed up inventory procurement, and modernise Pakistan’s supply chain ecosystem through a fully digital, data-driven model.
Digital transformation is accelerating across GCC capital markets, with tokenised sukuk, smart sukuk platforms, and blockchain-based settlement gaining momentum. Fitch says adoption will rise gradually as regulators and Shariah bodies define clear frameworks. Strong market activity, rising fintech participation, and new retail platforms position the GCC to lead the next era of Islamic finance.
Turkcell has secured a $150 million Shariah-compliant Murabaha financing facility from Dubai Islamic Bank to fund its digital infrastructure projects, including data centers and renewable energy. This five-year deal supports Turkcell’s strategy to diversify funding sources and strengthen ties with Gulf-based investors.
Turkcell secures $150 million Murabaha financing from Dubai Islamic Bank to fund infrastructure investments in data centres, cloud, and renewable energy. The deal diversifies financing sources and attracts Gulf investors, supporting Turkcell’s long-term growth and financial resilience.
The 19th IsDB Global Forum in Algiers focused on digital transformation and financial inclusion in Islamic finance. Key initiatives like the Medikids Project and AI Hackathon highlighted innovation, while discussions emphasized fintech, Sukuk, and sustainable development’s role in advancing the $4+ trillion Islamic finance industry.
Saudi Awwal Bank and United Pharmaceuticals have completed Saudi Arabia’s first digital Islamic supply chain finance transaction. The initiative streamlines payments and enhances working capital management for suppliers through a Shariah-compliant, automated platform. This marks a significant step in integrating Islamic finance and digital transformation in the Kingdom.
Abu Dhabi Islamic Bank Egypt (ADIB) has announced an EGP 1 billion investment in technology and cybersecurity. The bank showcased its digital banking innovations and Islamic Sharia-compliant products at the Cairo ICT Exhibition. Subsidiaries like “Taka” and Arzaq also participated, highlighting advancements in consumer finance and microfinance.