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Mal is developing a mobile-first digital banking platform aligned with Islamic banking principles.
Founded in 2025 by fintech entrepreneur Abdallah Abu-Sheikh, Mal is developing a digital banking platform. Planned features include onboarding, account access, payments, and budgeting tools, with a focus on underserved users and Islamic banking principles. In January 2026, it raised USD 230 million in seed funding led by BlueFive Asset Management, with participation from other investors.
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