IMAN Holdings Plans $100 Million Fundraise to Expand AI-Powered Islamic Banking Across GCC

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IMAN Holdings Plans $100 Million Fundraise to Expand AI-Powered Islamic Banking Across GCC

IMAN Holdings has announced plans to raise $100 million to support the expansion of its AI-powered Islamic banking platform and strengthen its presence across Gulf Cooperation Council (GCC) markets.

The fintech company, founded in 2020, has developed a mobile-first financial ecosystem that combines savings, investments, payments, and financial guidance within a single Shariah-compliant platform. Today, the company serves more than one million registered users and manages assets exceeding $100 million.

Having already secured over $10 million from global investors, IMAN Holdings is now targeting assets under management of more than $250 million by the end of 2026 as it pursues regional growth opportunities.

Expanding Islamic Finance Through Technology

The company's expansion strategy comes amid rapid growth within the global Islamic finance industry, which now exceeds $4 trillion in assets. Increasing digital adoption and evolving consumer expectations are reshaping the sector, particularly among younger generations seeking personalized, accessible, and values-driven financial services.

IMAN aims to address these changing demands through artificial intelligence, creating a banking experience that goes beyond traditional digital interfaces.

Rather than relying solely on dashboards and static financial tools, the platform uses conversational AI to interact with users, adapting to their financial behavior, preferences, and personal circumstances in real time.

“The problem with banking is not access. It’s the way it was built. It was never designed to understand people,” said Rustam Rahmatov, Founder and Group CEO of IMAN Holdings.

Moving Beyond Traditional Banking

The company’s AI-driven approach reflects a broader transformation occurring within the financial services sector, where institutions are increasingly shifting from transactional models to advisory and predictive experiences.

By analyzing behavioral and transaction data, IMAN’s platform seeks to anticipate user needs and provide ongoing financial guidance, helping customers make informed decisions while maintaining alignment with Islamic financial principles.

The company is also focused on integrating transparency and trust into the user experience through real-time Shariah validation and visible compliance mechanisms.

“The future bank doesn’t react. It anticipates. And it does so with consent, transparency, and care,” said Shakhzod Shukurov, Co-Founder and Chief Risk and Data Officer.

Building Infrastructure for Islamic Digital Finance

In addition to its consumer-focused offerings, IMAN is developing infrastructure solutions designed to support financial institutions seeking to launch AI-powered Islamic financial products.

The company is building a RegTech and AI banking layer that can be deployed across multiple markets, enabling banks and financial service providers to offer Shariah-compliant digital products more efficiently.

This infrastructure-focused strategy positions IMAN not only as a fintech platform but also as a technology enabler for the broader Islamic finance ecosystem.

Growing Demand for Ethical and Intelligent Banking

Industry analysts continue to highlight significant opportunities within Islamic digital finance. With an estimated 1.9 billion Muslims worldwide and an ongoing shortage of accessible Shariah-compliant financial services, demand for innovative banking solutions remains strong.

At the same time, rapid smartphone adoption, digital transformation initiatives, and fintech-friendly regulations across GCC countries are accelerating the transition toward mobile-first financial services.

These trends create a favorable environment for platforms that combine advanced technology with ethical financial principles.

GCC Expansion Marks Next Growth Phase

IMAN Holdings views the GCC as a strategic growth market due to the region’s mature Islamic finance sector and strong commitment to financial innovation.

The planned expansion aligns with increasing demand for digital banking solutions that provide both convenience and compliance with Islamic values. By entering GCC markets, the company aims to tap into a growing customer base while contributing to the evolution of next-generation Islamic financial services.

As AI continues to reshape global banking, IMAN Holdings is positioning itself at the intersection of technology, ethics, and finance, seeking to redefine how Islamic banking is delivered in the digital age.