Abu Dhabi Islamic Bank (ADIB) has rolled out Open Finance services, becoming one of the first banks in the UAE to implement the framework under AlTareq, the Central Bank of the UAE’s Open Finance Initiative, as the country advances its regulated data-sharing ecosystem.

The move aligns with the CBUAE’s 2023–2026 digital transformation strategy and marks a milestone in the UAE’s Open Finance journey, allowing customers to securely share financial data and access a wider range of integrated digital services across institutions.

ADIB said the first phase of implementation has been completed, covering regulatory and technical requirements, with financial transactions now processed through secure, CBUAE-certified application programming interfaces (APIs).

The launch follows the recent introduction of the UAE’s Nebras framework, which enables licensed financial institutions to deploy Open Finance services in a regulated and secure manner, positioning the country alongside markets such as the UK and Singapore.

ADIB said it plans to expand Open Finance-enabled customer journeys in the next phase, focusing on greater financial transparency, improved decision-making, and more seamless digital experiences across accounts, products, and institutions.

Wahed has launched a suite of UCITS equity exchange-traded funds (ETFs) in Europe that combine Shariah screening with an additional discretionary review based on Islamic ethical and human rights principles, following approval from the Central Bank of Ireland.

The Ireland-domiciled ETFs are designed to meet standard Shariah requirements, including the exclusion of sectors such as alcohol, gambling and conventional financial services, while also applying an added values-based assessment intended to address broader ethical considerations.

Mohsin Siddiqui, chief executive of Wahed, said the additional screening reflects core Islamic principles that extend beyond financial compliance. “Principles such as responsibility, the protection of human dignity and the avoidance of harm are embedded in Shariah,” he said, adding that the framework is intended to apply those values to contemporary global challenges.

Under the additional review, Wahed evaluates companies across three areas: the severity of potential harm, a firm’s involvement in enabling or benefiting from harm, and its willingness to address concerns and improve practices. The assessment draws on external sources including frameworks and databases from the UN Office of the High Commissioner for Human Rights, the American Friends Service Committee, the Uyghur Forced Labor Prevention Act Entity List, and Norway-based pension fund ethics reviews.

The ETFs are structured as actively managed funds, allowing Wahed to adjust holdings in response to emerging humanitarian or ethical concerns, the company said.

Wahed operates across markets including the UK, the United States, Malaysia and the UAE, and manages more than $1 billion in assets globally. The launch expands its presence in the European fund market and adds to its existing Shariah-compliant investment offerings.

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.