Saudi Arabia and its Vision 2030 grabbed Islamic investment headlines as markets welcomed June with news of the week including a Riyadh company’s bid to make the Kingdom a regional leader for high-tech manufacturing and a fund valued at nearly half a billion US dollars set up to develop pricey real estate in key Saudi cities.
Both Singapore and the UAE deepened their reach into Shariah fintech and AI with a digital coin-related offering as well as investment offerings.
Saudi projects
Eram Holdings said it has achieved the ‘made-in-Saudi brand’ of manufacturing status through an integration of power electronics and advanced microchips with the aim of liberating Riyadh from its oil economy. Investing up to US$100 million over the next four years, Eram is also venturing into battery-making.
Naif Alrajhi Investment and Aljazira Capital launched a SAR1.7 billion (US$453.33 million) private real estate investment fund to develop luxury residential and mixed-use projects in Riyadh and Jeddah, supporting significant urban development in major Saudi cities.
The Saudi Capital Markets Authority has officially approved the public offering of ANB Capital’s Shariah compliant Saudi Nomu Market Fund, marking a significant development for Shariah compliant investment opportunities in the region.
AI tech
Aiming to address the scarcity of Islamic investment offerings out of Singapore, Arta Finance introduced four Shariah compliant investment portfolios as satellite strategies on its AI-guided trading platform.
Fuze, a UAE-based digital assets infrastructure provider, and Mamun, an Omani alternative finance platform, partnered to enable Shariah compliant trade finance investments using Tether’s USDT stablecoin.
MBS Global Holdings, a UAE-based family office representing Qatar’s Sheikh Nayef Eid Al Thani, discussed potential investments in Islamic digital banking, digital technology, green innovation and real estate with Johor’s chief minister, signifying international interest in Malaysia’s key sectors.
Other offerings
With the entry point set at just PKR10 (US$0.035), Pakistan’s first hotel REIT aims to democratize ownership of a 139-key, four-star hotel that will be located in the tourist city of Hyderabad.
Amwal Capital Partners’ ACP Shariah Financing Fund was successfully oversubscribed after its initial close in May 2025, raising over US$60 million against a US$50 million target. The Cayman Islands-domiciled firm anticipates continued strong interest for the next offering of this private fund, later in 2025.
Predictiva, an AI-driven trading model provider, launched its own AI portfolio fund in partnership with Dubai-based Ento Capital. This fund is open to qualified and institutional investors and focuses on ESG-compliant assets that also meet Shariah criteria.
Investment platform Tillit expanded its Shariah compliant offerings by adding the HSBC Shariah Multi Asset Fund to complement the Saturna Al-Kawthar Global Focused Equity Fund and HSBC Islamic Global Equity Index Fund, which were offered since March 2025 for its workplace pensions and retail clients.
Europe Arab Bank launched new Shariah compliant financial solutions including Islamic current and fixed-term deposit accounts, for private banking and corporate clients.
The Central Bank of the UAE issued 7,000 silver commemorative coins with a notional value of AED50 (US$13.61) to celebrate Dubai Islamic Bank’s golden jubilee. This special issuance marks the bank’s founding in 1975.
Asset growth, regulatory change
According to data tracked by the IFN Investor Funds Database, AuM for Islamic fixed income funds experienced notable growth across all major regions in Q1 2025, rising by 11.53% to US$11.46 billion, driven largely by activity in Europe and the Americas. The resilience and consistent yield of Islamic fixed income instruments continue to attract investors amid volatile global market conditions.
Africa emerged as the top-performing region for Islamic mixed asset funds in Q1 2025, with total AuM doubling to US$1.22 billion. This growth, alongside increases in the Americas and Europe, indicates a growing interest in diversified Islamic fund products globally.
PMB Investment, an Islamic fund management firm, declared a gross income distribution of RM4.46 million (US$1.06 million) for its PMB Dana Al-Aiman fund for the year ending 31st May, 2025, representing a 5.01% yield. This money market-focused fund has achieved a three-year cumulative return of 16.76%.
The Pakistan Stock Exchange updated its PSX-KMI All Share Islamic Index, which now includes 258 companies with 15 additions and 22 removals. These changes are effective the 10th June 2025.
Moves
Bursa Malaysia has appointed Azizan Abd Aziz as its new CFO, effective the 1st August, 2025. Azizan previously served as the group CFO at Bank Islam Malaysia, succeeding Rosidah Baharom in his new role.
