The IFN Investor Funds Database, as the leading resource on Islamic public fund offerings around the globe, tracked 2,706 public Islamic funds managed by 517 asset management firms, with a combined total of US$448.01 billion in AuM as at the 9th March 2026.
This database showed that Islamic retirement funds around the world recorded 28.41% in total AuM growth to US$23.97 billion in Q4 2025, from US$18.67 billion in Q3 2025. Also, the still-emerging Islamic funds market in Egypt charted a 59.13% rise in overall value across 16 funds in Q4 2025, at US$113.48 million compared to US$71.31 million in Q3 2025.
Reports in this issue
A RM5 billion (US$1.27 billion) war chest, with a hybrid Shariah mandate, is pending under the Dana Pemacu initiative by Malaysia’s largest civil service pension fund, Kumpulan Wang Persaraan (KWAP).
Egypt’s asset management industry is embracing the ESG elements of Shariah compliant investing, as policymakers look to shape a broader ethical capital platform.
Affluent families in Oman, who had long relied on international financial centers to manage their fortunes, are shifting to local Shariah compliant wealth management solutions.
Concerns over the security of GCC capitals with proximity to Iran could prompt investors onto a tactical retreat toward the UK’s centuries-old legal stability.
Offerings and deals
UK Shariah compliant fund manager, Vennre, launched the AI Growth Fund with a curated portfolio that includes pre-IPO exposure and access to holdings by global VCs like Sequoia, a16z, Accel, Coatue and Index Ventures.
Sri Lanka’s Capital Alliance launched the CAL Islamic Money Market Fund, a Shariah compliant open-ended unit trust offering daily liquidity. Pakistan’s UBL and Al-Ameen Funds introduced contributory pension funds for employees of the Government of Khyber Pakhtunkhwa.
The Strategic Investment Fund of Senegal is seeking to appoint a fund manager for the creation and co-management of the Green Energy Fund, which may include Shariah components.
UK’s Castleforge got a RM500 million (US$126.82 million) mandate to invest in Shariah compliant real estate opportunities in Malaysia and internationally.
Investors Capital – a PE-focused outfit established in mid-2025 by Joel Sandhu, Michiel Merchiers, Yasser AlMunajem and Tareq Almunajem, with backing of the Almunajem family – obtained its asset management license from the Saudi Capital Market Authority (CMA).
Cryptocurrency token fintech MECCACOIN aims to provide Shariah compliant digital currency options.
Significant developments
The Saudi CMA approved amendments to the Capital Market Institutions Regulations regarding robo-advisory services in the Kingdom.
Al Mabrook forged a partnership with Sustainadility to integrate ESG validation with Shariah compliant real-world asset tokenization.
Arab Invest, a sovereign-wealth institution owned by 16 Arab states, announced three top executive hires. Mohammed Alrashoudy is head of investment operations, Marwan Alzamil is director of public markets and Georges Boueiz is director of private markets.
UAE’s Mashreq appointed Tom Phebey as the new head of compliance for treasury and global markets and wealth management.
