Mal, a fintech platform, has opened a new office in Egypt. The company builds AI-powered digital banking services that follow Islamic finance rules. Founder and CEO Abdallah Abu-Sheikh attended the opening event.
Office goals
The company will use the office to attract local talent. It also plans to build a dedicated team for regional growth. Abu-Sheikh said the expansion creates new opportunities in target markets.
Company background
Mal was founded in Abu Dhabi. It describes itself as building the world's first AI-native digital Islamic bank. The company focuses on underserved communities in emerging markets.
Platform details
The platform delivers financial services primarily through mobile devices. It combines Islamic finance principles with AI technology. The design puts customer needs first and aims to lower costs and expand access.
Mal plans to hire local talent for the new Egypt office. It will build a dedicated team to support regional expansion. The office will serve as a base for those efforts.