Mal Raises $230M to Build the World’s First AI-Native Islamic Digital Bank
Hey Digital Banking Fanatic!
Mal just secured $230 million to bring what it calls the world’s first AI-native Islamic digital bank to life.
The round was led by BlueFive Capital, alongside strategic investors and family offices. The ambition is big. Mal wants to serve 2 billion Muslims worldwide, while also targeting underbanked communities with a mobile-first banking model.
Founded by FinTech entrepreneur Abdallah Abu-Sheikh, the platform is being built from the ground up with AI at its core. Infrastructure first. Automation baked in. Ethics front and center.
The funding will go toward product development, licensing, and go-to-market execution. Launch is planned for 2026.
The Kontigo Story Out Of Venezuela 🇻🇪 Keeps Evolving…
Since yesterday, things have escalated. After the investigation shared by Jason Mikula gained wider traction, Kontigo publicly pushed back, warning that those sharing the reporting could face legal consequences.
That response quickly drew reactions across FinTech Twitter, including from Sebastian Siemiatkowski, publicly praising the depth and integrity of the reporting and backing independent journalism. What started as an investigation is now clearly resonating well beyond the original story.
What started as a report is now a broader conversation about sanctions, accountability, and how FinTechs respond when uncomfortable questions surface.
If you’re following how Digital Banking models are evolving beyond traditional markets, keep scrolling 👇
Cheers,
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