Mal, an AI-driven Islamic digital bank founded by fintech entrepreneur Abdallah Abu-Sheikh, has secured a 230 million strategic investment led by BlueFive Capital, with participation from strategic investors and family offices.
The funding brings together a global investor base backing Mal's vision to build a smart, ethical, and inclusive financial platform. Led by BlueFive Capital, the round signals strong institutional support for Mal's ambition to combine AI-native infrastructure with the principles of Islamic finance.
Scheduled to launch in 2026, Mal is a mobile-first digital banking platform currently under development, targeting underbanked communities globally. The capital will be used to accelerate product development, advance licensing and regulatory processes, and execute its go-to-market strategy.
