Abu Dhabi-headquartered Islamic digital bank, Mal, has raised the largest seed round in Middle East and Africa, as it gears up for launch later this year.  

The Islamic fintech raised $230 million in seed funding, led by global investment platform BlueFive Capital, alongside other strategic investors and family offices. 

The funding will accelerate product development, licensing efforts in multiple markets, and the go-to-market strategy, the company said in a statement. 

“Islamic finance is a $7 trillion space with no single global banking leader. With Mal, we aim to bridge that gap and bring cutting-edge fintech solutions to every underserved community globally.” said Abdallah Abu-Sheikh, founder of Mal. 

The mobile-first bank, which is currently under development, will be rolled out in phases, expanding into key Middle Eastern and Asian markets with localized offerings tailored according to each region. Mal does not yet hold any banking or financial services license.
 

Qatar has joined a US-led initiative to secure global tech supply chains, to enhance bilateral relations and ensure the sustainability of global supply networks. 

Qatar will expand its international partnerships in semiconductors, advanced computing, cybersecurity, and digital technologies via the initiative, according to a news report published by Qatar News Agency. 

The Pax Silicia Declaration is a US-led economic security coalition to protect global tech supply chains, address AI supply chain opportunities and vulnerabilities, and explore joint investment. The initiative marks the first time countries are organizing around compute, silicon, minerals, and energy as shared strategic assets.

Dr. Ahmed bin Mohammed Al Sayed, Qatar’s minister of state for foreign trade affairs said the world is undergoing a profound transformation driven by AI, rising demand for energy and critical minerals, and rapid technological advancement.

“It supports Qatar's transition toward an innovation-driven economy, enhances the resilience of US supply chains, expands opportunities for joint research and technological development, strengthens public-private sector collaboration, and supports the growth of US companies operating in Qatar and across the region.”

US Under Secretary of State for Economic Affairs, Jacob Helberg welcomed Qatar's accession to the Declaration, describing the occasion as a pivotal moment for bilateral relations and for the global economy as a whole.

“If the 20th century ran on oil and steel, the 21st century runs on compute and the minerals that feed it,” said Helberg.

The United States and Qatar will work together on strategic investments, including critical minerals security initiatives and the modernization of global logistics infrastructure, he added. 

Qatar has launched several initiatives to fulfill its AI ambitions, including the Qatar AI Initiative as well as a national company, Qai, to develop and operate AI infrastructure within its borders and beyond. 

The PAX Silicia alliance is defined by capabilities rather than traditional alignments, said Helberg, bringing together countries with the resources and strategic vision to secure a shared technological future. 

Qatar becomes the eighth signatory, joining nations including Australia, Israel, Japan, Republic of Korea, Singapore, and the UK. The UAE is reportedly expected to join later this week.

The Middle East has emerged a hotspot for deal activity in 2025, surpassing Southeast Asia for the first time, and becoming the only emerging venture market to record an annual rise in deal count. 

The Middle East recorded a record 581 deals, up 13% annually, while narrowing the funding gap, with an all-time high of $3.4 billion, up 89% year-on-year. The performance was underpinned by stronger diplomacy ties, major events, and rising investor confidence according to data analytics firm Magnitt. 

The region saw a record $1 billion in deals worth $100 million or more, supported by the return of late-stage liquidity, diplomatic ties, key events, and rising investor confidence.

The GCC region stood out as a powerhouse, positioning itself as a destination of long-term capital, with five deals worth $100 million or more. Saudi Arabia was the most active country by funding, recording 257 deals worth $1.7 billion, with the UAE following at $1.58 billion up 67% year-on-year.   

“Throughout 2025, the region saw international investors from North America, Europe, and Asia continue to deepen their presence in the region across private capital, said Philip Bahoshy, CEO of Magnitt, in its latest report. 

“They were drawn by policy consistency, economic ambition and sustained investment in infrastructure. Global financial institutions and asset managers including Ray Dalio, Brevan Howard, KKR and Brookfield expanded their local footprint."

"Additionally, 9,800 millionaires were set to relocate to Dubai in 2025; 600 multinational companies have regional headquarters in Saudi Arabia and Dubai has passed a milestone of being home to over 100 global hedge funds,” Bahoshy added. 

M&A activity rose 41% year on year across the MENA region, while AI become an active investment theme, with related company funding increasing 204% annually to $817 million. 

Despite an 11% year-on-year decline, Singapore remained the most funded emerging venture market, with $3.08 billion. The Southeast Asia region experienced a 29% year-on-year decline in funding and deal count, with M&A activity falling to 24 deals from 35, its lowest level in seven years.

Oman has approved the establishment of a financial centre, following its GCC peers in launching a global hub as the petrostate steps up economic diversification. 

The International Financial Centre of Oman (IFC Oman) will be headquartered in Madinat Al Irfan and will seek to attract financial investments and support sectors through incentives and tax exemptions for a period of up to 50 years.

Three independent entities, including the International Financial Centre of Oman Authority, International Financial Centre of Oman Regulator, and International Financial Centre of Oman Dispute Resolution Authority – will operate on their respective mandates. 

The centre will aim to establish operational frameworks to commence full operations in 2026. 

The establishment of International Financial Centre of Oman represents the ongoing efforts to achieve financial stability and economic diversification, said Abdulsalam Mohammed Al Murshidi, president of Oman Investment Authority.

“The centre will feature an innovative and advanced financial services infrastructure and will provide a secure and transparent environment for financial institutions and investors.”

Oman has followed the lead of several GCC peers, such as Dubai and Qatar in establishing a premier destination for companies and investors. The UAE’s Dubai International Financial Centre and Abu Dhabi Global Market have emerged as magnets for global capital, driven by regulatory environments and strong economies. 

The neighbouring Qatar Financial Centre is also an onshore global business and financial centre, offering legal and regulatory services to local and international companies. 

The Canadian federal government is investing up to $2.26 million to expand halal beef processing and packaging capacity at a facility in Prince Edward Island, as part of efforts to strengthen domestic meat production and meet growing consumer demand.

Agriculture and Agri-Food Canada announced that funding will be provided to Atlantic Beef Products Inc. under the $25 million kosher and halal investment program. This program supports federally regulated beef and veal processors in adopting new technologies to increase efficiency and output.

The investment of $2,256,786 will fund the installation of advanced processing and packaging technologies designed to increase meat yield and expand halal-certified product offerings for Canadian retailers, the department said.

Planned upgrades include equipment to recover more meat and reduce food waste, new packaging systems for retail-ready halal products, and in-line inspection technology to strengthen safety and quality control.

The government stated that the funding aligns with its Buy Canadian policy, which prioritises domestic suppliers in federal procurement and aims to strengthen Canada’s food system. The announcement comes amid ongoing debate over access to halal and kosher foods following a decision by the Quebec government last year to bar such foods from public institutions.

Saudi Arabia will open its capital market to foreign investors starting next month, marking the latest push in a series of initiatives to drive investment inflows and enhance market liquidity. 

Starting February 1, access to the kingdom’s capital market will be accorded to all categories of foreign investors, enabling them to invest directly into Tadawul’s main market, according to Saudi’s financial market regulator. 

The amendments will eliminate the concept of qualified foreign investors in the main market. Prior to the approved regulations, only a qualified foreign investor with assets worth 1,875,000,000 Saudi riyals, equivalent or more was permitted to open an investment account. 

The amendment will also abolish swap agreements, which were previously used as an option to allow non-resident foreign investors to merely gain economic benefits of listed securities. Instead, it will grant them the ability to directly invest in listed shares on the main market. 

Ownership of foreign investors in the capital market exceeded 590 billion Saudi riyals by the end of Q3 2025, while overseas investments in the main market reached approximately 519 billion Saudi riyals during the same period.

The latest amendment builds on previous measures such as the initiative to simplify investment accounts for foreign investors announced this July. Individual foreign investors residing in any GCC country were permitted to open an account and invest in listed shares. 

In a first, investors who had moved to their home country but had previously resided in Saudi Arabia or other GCC country were allowed to continue investing in listed shares on the main market.  

"These approved amendments align with the CMA's gradual approach to opening the market, building on previous phases and paving the way for complementary steps aimed at further opening the capital market," the regulator said.

The Saudi Tadawul market, which opened up to foreign investors in 2015, operates two primary equity market segments - the main market and the Nomu - parallel market.

Earlier this year, the capital market authority allowed foreigners to invest in listed companies owning real estate in the twin holy cities of Makkah and Madinah.  
 

Pakistan’s halal meat exports to China rose sharply in 2025, driven by growing Chinese demand and improved market access, with shipments increasing more than threefold year on year, according to official Chinese customs data.

Data from the General Administration of Customs of China (GACC) shows Pakistan exported halal meat products worth more than $14.32 million between January and November 2025, compared with $4.23 million during the same period in 2024 — a year-on-year increase of 239%.

Industry experts said the growth reflects stronger trade cooperation, rising Chinese demand for high-standard processed meats, and improved compliance with sanitary, phytosanitary and halal certification requirements. Promotional efforts at bilateral trade platforms, including Pakistan–China business-matching events held in Beijing in September 2025 during the Pakistani prime minister’s visit, have also supported exports.

Pakistan first secured GACC approval to export heat-treated meat products to China in 2019, but exports gained traction in 2023–2024 as more exporters obtained the certifications required to clear Chinese customs.

Analysts believe continued policy support and closer industry cooperation could help Pakistan increase its share of China’s growing protein import market, particularly as demand rises for certified halal and value-added meat products.

Malaysia's IslamiCruise, which was being launched as Asia’s first luxury Umrah cruise programme, in partnership with Saudi Arabia’s Aroya Cruises, is facing scheduling problems. The inaugural January–February 2026 voyage has been rescheduled as organisers revise routes and packages.

The 15-day, fully halal-certified cruise was officially introduced as part of Malaysia’s halal tourism push and recognised as a Visit Malaysia 2026 product. Departing from Port Klang, the one-way journey is designed to take pilgrims to Jeddah via Banda Aceh, Oman and the Maldives, before passengers complete their Umrah pilgrimage in Saudi Arabia.

IslamiCruise International announced on November 19, 2025, that sales had been temporarily suspended due to internal assessments indicating a need to better align sailing schedules with market demand and school holiday periods. The company said it remains in discussions with Aroya Cruises’ owners to finalise a revised and commercially viable launch date.

The cruise vessel can accommodate more than 3,500 passengers and offers four accommodation categories, ranging from standard cabins to suites and villas. Onboard facilities include swimming pools, water slides, sports amenities and halal dining, alongside religious programming and lectures led by Malaysian preacher Ustaz Wadi Anuar and Indonesian scholar Ustaz Abdul Somad.

While the programme is designed primarily for Muslim travellers performing Umrah, non-Muslim passengers are also permitted to join the cruise, with tailored packages that exclude pilgrimage activities.

Organisers estimate the initiative could attract between 6,000 and 8,000 visitors annually once fully operational, supporting Malaysia’s broader ambitions to strengthen its position in the global halal and Islamic tourism market.

A&M Capital Europe’s (AMCE) acquisition of French halal food producer Isla Délice has come under scrutiny after its strategic partner, Alvarez & Marsal, established a cybersecurity subsidiary in Tel Aviv, a development first reported by specialist halal media outlet Al-Kanz.

AMCE announced the takeover of Isla Délice on September 1, 2025, acquiring the company from British private equity firm Perwyn. Days earlier, Alvarez & Marsal registered A&M Cyber Risk Services Ltd in Tel Aviv, positioning the unit within Israel’s cybersecurity ecosystem at a time of heightened regional conflict.

Al-Kanz reported that while AMCE and Alvarez & Marsal are legally separate entities, AMCE publicly describes its relationship with Alvarez & Marsal as a “strategic partnership,” granting the fund access to the consultancy’s operational expertise and global network. The outlet said this link has raised reputational concerns for Isla Délice, France’s largest halal brand, particularly among Muslim consumers sensitive to Israel-linked business activity.

Isla Délice, founded in 1991, has faced recurring rumours over the years regarding alleged ties to Israel, which the company has consistently denied. In a previous statement, the company said it is French-owned and operates independently, with no Israeli ownership or operations.

According to Al-Kanz, the latest development differs from earlier claims because it involves verifiable corporate filings showing the establishment of Alvarez & Marsal’s cybersecurity subsidiary in Tel Aviv on August 27, 2025, prior to the completion of the Isla Délice acquisition. The subsidiary is located near Israel’s defence and military headquarters and focuses on cyber risk management and crisis response services.

AMCE has repeatedly highlighted its association with Alvarez & Marsal in investor materials, describing the relationship as central to its investment model. However, Isla Délice’s recent crisis communications have focused on the absence of a direct capital link between AMCE and Alvarez & Marsal, without addressing the broader strategic partnership outlined by its new owner.

Following Al-Kanz’s reporting, Isla Délice issued a press release and social media video rejecting what it described as “amalgamations” and “rumours.” In an email response to Al-Kanz, Isla Délice Chief Executive Officer Eric Fauchon said AMCE has no ownership or management connection to Alvarez & Marsal, and that communications were issued to protect the company and its employees.

The acquisition of Isla Délice was finalised in December 2025, and the brand has since increased its international visibility through marketing campaigns tied to major sporting events, as part of its broader European expansion strategy.