An analysis by the IFN Investor Funds Database showed that the number of new Shariah compliant fund launches stabilized in 2025, after surging during the COVID-19 pandemic period.
Befitting its stature as the leading resource on Islamic public fund offerings around the globe, this fund database recorded 2,643 public Islamic funds managed by 501 asset management firms, with a combined total of US$717 billion in AuM as at the 12th January 2026.
Also, the Islamic fund market within the UAE posted a mixed performance in Q3 2025, with strong gains in equities and money market funds – but a sharp contraction in real estate assets, according to data tracked by the IFN Investor Funds Database.
Growth trajectory
Katch Investment Group joined forces with Valpre Capital to launch a new platform that aims to deliver premium student beds across the UK, targeting undersupplied hubs like London and Bristol, attracting both conventional and Shariah investors.
With the November 2025 launch of its first ETF on the US Nasdaq, Toronto-based fintech Manzil was executing a clear vision to scale rapidly, access institutional capital and broaden investor reach – crystalizing plans made possible in the year after buying its US peer Aghaz Investments.
Shariah compliant financier Nomo Bank is projecting that “demand from the GCC for UK residential property has the potential to be boosted by falling borrowing costs and an improved macroeconomic outlook” in 2026.
Funds and opportunities
Malaysia’s TA Investment Management, adopting a growth-oriented Shariah portfolio comprising of “our highest-conviction ideas from across global markets” and differentiated by an Asia lens, is enabling a more holistic and contextual approach to investing.
Gulf Islamic Investments, which aims to triple its AuM by 2030, eyeing a US$10 billion valuation by then, may raise up to US$400 million via a capital increase and Islamic debt issuance.
Digital platform Gold Souq officially launched in Bahrain, making it the first digital app in the Kingdom to provide Shariah compliant saving, investing and trading gold services.
Human Appeal, an Islamic non-profit institution in the UK, launched The Waqf Fund to promote long-term, sustainable charitable giving based on Waqf and Sadaqah Jariyah structures.
Subscription for Iran’s Kian Utility Fund – investing specifically in the electricity, gas, steam and hot water sectors – saw the 500 million units on offer snapped up within 20 minutes.
The Saudi Capital Market Authority (CMA) approved the public offering of the Promising Growth Fund and also SEDCO Capital Lombard Global ESG Equities Feeder Fund.
Major deals
Janus Henderson Group, which has Shariah offerings among its almost US$500 billion AuM, is being acquired by Trian Fund Management and General Catalyst for US$7.4 billion in cash. The investor group funding this purchase includes Qatar Investment Authority, Sun Hung Kai & Co as well as MassMutual.
The Global Islamic Finance Impact Program for Climate, Nature and Development formalized its establishment as an independent legal entity, marking its transition from a multi-stakeholder initiative into a fully constituted global platform – which aims to mobilize at least US$1.5 billion in Shariah-aligned capital over five years to support climate, nature and development outcomes across the Global South.
Regulatory initiatives
All categories of foreign investors including non-residents, can invest directly in the Saudi Main Market (Tadawul) from the 1st February 2026, announced the Saudi CMA – eliminating the concept of ‘Qualified Foreign Investor’.
The establishment of the Oman Global Financial Centre was approved as part of a strategic initiative to strengthen the Sultanate’s position as a regional financial hub to target investments from commercial banks and global financial institutions operating in conventional and Islamic banking, financial services and insurance.
The National Bank of Ethiopia issued a new directive that mandates all insurance and Takaful operating firms to invest a minimum 15% of their net income in Development Bank Bonds.
Significant moves
Khairi Shahrin Arief Baki was promoted to CEO at CGS International Securities Malaysia as of January 2026, moving up from his former co-deputy CEO post. Meanwhile, Alan Inn Wei Loon was appointed country head. CGS Malaysia offers both conventional and Shariah financial and investment services.
AlBaraka Capital, a leading Egyptian Islamic non-bank financial institution that offers investment products and services, appointed Amir Sherif as its CEO from the 1st January 2026. He was previously vice chairman at Al Ahly Pharos Investment Banking for four years.
JS Global Capital of Pakistan appointed Muhammad Khalil Usmani as CEO, while Shahab Anwar Khawaja was appointed as board chairman from the 22nd December 2025.
