Abu Dhabi-based fintech company Mal recently announced the completion of a $230 million strategic funding round. This capital will be used to build the world’s first AI-native Islamic digital bank.
The round was led by BlueFive Capital, and the funds will primarily be used for technology research and development and market expansion. Founded in 2025, Mal acquired its website domain mal.ai from Namecheap in March of the same year for $50,000. As a company focused on Islamic financial services, Mal aims to provide compliant and convenient financial solutions to under-banked populations through AI-driven financial tools.
Currently, Mal is still in the pre-sale stage and has not yet obtained the relevant financial service licenses. According to its plan, the bank will officially launch in phases starting in the UAE in 2026, gradually expanding its business to more regions. Its innovative model combines AI technology with the compliance requirements of Islamic finance, and is expected to fill the gaps in traditional financial services for specific groups, injecting new vitality into the fintech industry.
The completion of this substantial seed round financing not only demonstrates the capital market’s confidence in the Islamic digital finance sector but also provides strong support for Mal’s technology research and development and market implementation. With the deepening penetration of artificial intelligence in the financial field, Mal is expected to occupy a unique position in the global fintech market due to its differentiated positioning.
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