The IFN Investor Funds Database, the leading intelligence platform on Islamic public fund offerings, recorded 2,762 funds managed by 517 asset management firms, with a combined total AuM of US$444.1 billion as at the 13th July 2026, up eight funds from last week.
The gloves have come off as the battle for Hormuz intensifies even before the fragile ceasefire was terminated. The US and Iran are wrestling to control the narrative over control for the Straits – at the time of writing, US unleashed a barrage of strikes on Iran which attacked five Gulf states including Qatar, which is mourning the passing of its former ruler, Sheikh Hamad Khalifa Al Thani, the icon behind the Arab state’s phenomenal global economic rise and modernity.
Despite the regional chaos, a handful of new investment products made it to market, although it was Asia which led the charge while the GCC took a backseat. In Saudi Arabia, Al Rajhi Capital received the greenlight from the regulator to offer its Saudi ETF on the Saudi Stock Exchange. Over in the UAE, property developer, Arada announced its plan to introduce a new funds management platform to develop and manage institutional-grade investments across real estate asset classes in the Middle East and selected international markets. This comes as the Dubai Financial Services Authority seeks to overhaul its collective investment fund regime.
In Brunei, Lion Global Investors and BIBD Securities rolled out a new multi-asset Islamic fund, while Maybank Indonesia unveiled its sustainable Shariah restricted investment account.
But it was Pakistan that impressed us this week: amid a bull run manufacturing over 65% of new Islamic fund launches globally in Q1 2026, the Republic sustained its momentum with new funds, new licenses and new policies. Lucky Investments launched a new Halal fund while the Pakistan Stock Exchange agreed to formally list two Shariah mutual funds from Al Meezan Capital as well as facilitated the public offering of the Shariah compliant Naya Nazimabad Apartment REIT.
To boost investor participation in government securities, the State Bank of Pakistan introduced a new digital platform enabling retail and corporate investors to invest directly in the sovereign market. Meanwhile the federal cabinet approved a new four-year Hajj Policy and Plan which includes a Shariah compliant Hajj savings scheme that will allow citizens to save toward future pilgrimages. The securities regulator, on the other hand, extended a license to Foundation Securities allowing the stockbroker to operate a Shariah compliant Islamic brokerage window.
Non-traditional markets also caught our attention this week: Kenya’s Istithmaar Lulu Maknoon won a license to operate as a Shariah compliant investment vehicle, raising, managing and deploying capital into Shariah compliant projects while managing REITs, PE funds and investor capital. In the UK, Channel Capital Advisors announced the first close of its Corniche Sharia investment fund, with early commitments secured from investors across the GCC.
We wrap up this week’s round-upwith some noteworthy appointments: Warba Bank named a new acting chief investment banking officer, National Bank Modaraba Management Company appointed a new chairman and the Oman Investment Authority announced a new CEO for the Future Fund Oman.
