Abu Dhabi, UAE –9th of September, 2026: Mal, the world’s first AI-native Islamic financial platform, today opened its global waitlist, just three months after receiving its In-Principle Approval (IPA) from the Central Bank of the UAE.
Customers joining the waitlist will receive priority access to Mal’s first product releases and exclusive rewards. Once their account is activated following identity verification, users will receive a joining bonus based on their market, while successful referrals unlock additional benefits. Verified referrals unlock access to Mal Club, where members can enjoy benefits including transfer fee savings, monthly rewards, shopping, travel and lifestyle offers, cashback on everyday spending, and early access to new Mal products and features.
From Abu Dhabi to the world, Mal brings more than 1,400 years of Islamic heritage into a new generation of financial services, combining its principles with AI-native technology to create one connected financial experience for individuals and businesses globally.
Customers rely on separate providers to receive money, make payments, access financing, invest, often repeating onboarding processes, submitting the same documents and waiting days or weeks for decisions. Mal brings these capabilities together through a single AI-native platform, turning processes that take days or weeks into fast, seamless experiences.
AI sits at the heart of Mal’s platform, embedded into its core architecture rather than added to existing systems. This AI-native foundation shapes how the platform operates and how products are designed and delivered, with a focus on solving significant financial challenges through simpler and faster experiences.
Mal’s product offering is designed to be global from the outset, with products set to launch simultaneously across multiple markets. Backed by US$230 million in seed funding, the largest publicly announced fintech seed investment in the Middle East and Africa, Mal is bringing together the capital, regulatory foundations and technology needed to build at global scale and pursue its ambition to become a global force in Islamic finance.
“Financial services have evolved into a collection of disconnected products rather than a connected customer experience.” said Abdallah Abu-Sheikh, Founder and CEO of Mal. “Customers move between providers, repeat the same steps and wait weeks for processes that should take minutes. With Mal, we’re bringing financial services together through one AI-native platform, and replacing fragmentation with a simpler, faster and more connected experience.”
Mal combines AI with Islamic financial principles to deliver transparent pricing, open-market exchange rates, responsible financing and frictionless cross-border financial services.
Download Mal and join the waitlist:
• App Store & Google Play: Link
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Boilerplate:
Founded in 2025 by Emirati technology and serial entrepreneur Abdallah Abu-Sheikh, Mal is the world’s first AI-native Islamic digital financial platform headquartered in Abu Dhabi, created to redefine financial services for a new generation of individuals and businesses. Backed by the largest publicly announced fintech seed investment in the Middle East and Africa, valued at US$230 million, Mal has been built from the ground up with AI embedded across its core architecture.
Designed to serve those long underserved by conventional financial services, from freelancers and remote professionals earning across borders, to SMEs seeking smarter financial tools and individuals and families looking for more accessible, transparent and intelligent banking, Mal is building an intelligent financial ecosystem that transforms how people earn, manage, move, save and grow their money. Its expanding portfolio includes Global Accounts for freelancers and global earners, AI-powered personal finance tools, lifestyle financing for shopping, travel and education, and intelligent business solutions that help SMEs streamline operations, improve cash flow and accelerate growth.
