The IFN Investor Funds Database, the leading intelligence platform on Islamic public fund offerings, recorded six new funds bringing the total number of Islamic funds to 2,764 managed by 519 asset management firms, with a combined total AuM of US$416.02 billion as at the 17th August 2026.
Expanding universe
Nigeria is moving decisively to grow its Islamic investment community: Whitecrust Investment is reportedly developing Shariah compliant products while Myrtle Asset Management has engaged INJAZ Advisory to review its products and services according to Islamic principles, marking an important step toward servicing faith-aligned investors.
In Saudi Arabia, OORI secured a license from the Capital Market Authority – its co-founder told IFN Investor that it is building its core private-markets business and expanding the range of opportunities it can source. SAB Invest rolled out an open-ended Islamic public fund investing in a concentrated portfolio of global companies. The fund follows an active investment strategy targeting companies exposed to long-term structural growth themes including AI, cloud computing, advanced semiconductors, healthcare innovation and other technology-enabled industries.
Malaysia’s IOI Properties Group received regulatory approval to establish a REIT, backed by a RM7.58 billion (US$1.81 billion) portfolio of retail, office and hospitality assets. Acquisitions will be funded through 5.5 billion consideration units and cash raised via Sukuk.
Meanwhile, the Securities and Exchange Commission of Pakistan established a dedicated Shariah compliant brokerage segment, with 33 brokerage houses operating Islamic windows that collectively account for around 52% of traded volume on the Pakistan Stock Exchange, alongside two dedicated Islamic brokers. It is also worth noting that Pak-Qatar Family Takaful has been appointed by the federal government as an authorized pension fund manager for its defined contribution pension fund scheme.
Fresh investments and new projects
Qatar Investment Authority has invested in the Shariah compliant Lesha Bank Qatar Equity Fund. Over in Asia, the board of directors of Dhaka-based Sammilito Islami Bank approved several investment proposals. Indonesia’s national mosque is expanding its productive Waqf management into the country’s Islamic capital market, with funds to be professionally managed by investment managers.
Fintech progress
Crypto continues to make news.
Zakat Coin, the utility token powering the Shariah compliant payment and remittance platform ZakPay, launched the second round of its initial exchange offering, targeting US$2 million. Bank Refah Kargaran launched its Teko token, a supply chain financing instrument that tokenizes the Iranian Social Security Organization’s verified liabilities to contractors, hospitals, pharmaceutical companies and healthcare centers, enabling obligations within the ecosystem to be settled without cash leaving the banking network. Meanwhile, UAE-based Shariah compliant digital platform, Mobisaria, joined hands with Singapore-headquartered digital asset trading platform GXT Exchange, to expand global liquidity and market access for its MBSR token.
In Australia, Islamic financial group Hejaz unveiled Hejaz Investa, an online investment platform providing access to professionally managed Shariah compliant multi-asset portfolios. The platform is part of Hejaz’s wealth management offering alongside Hejaz Privia, which targets high-net-worth and institutional investors with Shariah compliant wealth management solutions.
