The IFN Investor Funds Database, the leading intelligence platform on Islamic public fund offerings, recorded one new fund bringing the total number of Shariah funds to 2,783 as managed by 522 asset management firms, with a combined total AuM of US$408.7 billion as at the 26th October 2026.
Fund universe expands
New funds are making their way to market, mostly from the GCC. The Kuwaiti Capital Markets Authority has approved Gulf Capital Investment Company’s establishment of the Gulf Sukuk Fund, while the Saudi regulator greenlit the public offering of Saaf Saudi Riyal Murabaha Fund.
Meanwhile in Kenya, Gulfcap Investment Bank’s Ziidi Shariah Money Market Fund is now accessible to investors through Safaricom’s M-PESA platform.
Stronger regulations
The Saudi Capital Market Authority is seeking feedback on proposed amendments to the Investment Funds Regulations and Real Estate Investment Funds Regulations, aimed at stronger transparency and supervisory efficiency. The amendments include enhanced disclosure requirements covering conflicts of interest, material events, fund performance, cash distributions, investment holdings and real estate assets.
Notable investments
Bahraini Islamic institutions are actively deploying capital.
Investcorp Technology Partners, the technology investment arm of Investcorp,acquired a majority stake in Spanish AI-powered marketing automation provider Connectif, marking its first investment in Spain and the sixth investment from Investcorp Technology Partners Fund V.
Meanwhile, GFH Bank exited from Saber Power Investments, a power infrastructure services platform, generating cumulative net cash distributions of approximately US$173.5 million to investors and a combined net return of more than three times the invested capital. GFH also confirmed that Seef Properties’ independent shareholders approved a whitewash resolution at an extraordinary general meeting on 18th October 2026, clearing the way for Seef Equity Growth Investment, established by GFH Partners Fund Management, to acquire 95.09 million shares representing a 20.67% stake without triggering a mandatory takeover offer.
New ecosystem
Indonesia has launched the Indonesia Halal Innovation and Venture Ecosystem, or I-HIVE, bringing together 26 partners including regulators, government agencies, investors and financial institutions, to expand access to Shariah compliant financing, incubation and international markets for Halal start-ups.
More tokenization
Barzah Capital joined the Qatar Financial Centre’s digital assets lab to develop and test a Shariah compliant real estate tokenization model that enables investors to acquire fractional ownership interests in property assets. It plans to eventually expand its tokenization model to other real-world assets.
Significant move Former CEO of Bursa Malaysia, Umar Swift, joined Hong Leong Investment Bank as its group managing director and CEO, effective the 1st January 2027, succeeding Lee Jim Leng, who is retiring after more than 17 years with the group.
