How many total Islamic Finance companies are there?

As of Aug 2026, there are 384 active companies in Islamic Finance sector.

Which countries have the most Islamic Finance companies?

United Arab Emirates (36) has the highest number of Islamic Finance companies, followed by United Kingdom (33) and Malaysia (20).

How many Islamic Finance companies are funded?

As of Aug 2026, 41 companies in this sector have received funding.

Which company has raised the most funding in Islamic Finance sector?

As of Aug 2026, Bank Alfalah has secured $66M in funding, making it the highest-funded company in the Islamic Finance sector.

Which country has attracted the most investment in Islamic Finance companies?

With $1.94B in total funding, United Arab Emirates has attracted the most investment among Islamic Finance companies.

Who are the top investors in Islamic Finance companies?

The top investors in Islamic Finance companies by number of investments are Investment Corporation of Dubai, Mubadala and ICD

How much venture capital has Islamic Finance sector attracted?

In the last 10 years, venture capital firms have invested $17.6M in this sector.

Islamic Finance - 2026 Market & Investments Trends

Companies included in Islamic Finance sector

Includes secure multi-party verification gateways, cloud ledger audit tracking modules, automated compliance underwriting filters, and asset escrow risk tools.

Companies excluded in Islamic Finance sector

Excludes retail non-commercial consumer banking tools, simple basic manual bookkeeping spreadsheets, generic payroll apps, and non-regulated financial advisory websites.

Key Metrics

Total Companies

432

Top Companies

Bank Alfalah, ADIB & more

Total Funding

$4.08B

Funded Companies

Series A+ Companies

Series C+ Companies

IPOs

Acquisitions

Also known as

Enterprise Islamic Finance or Islamic Finance Systems

View complete details of this sector

There are more than 432 companies in Islamic Finance. Bank Alfalah is the top Islamic Finance company globally, ranked using Tracxn Score (what's this?).

Here are 5 of the top Islamic Finance companies globally:

Company	Description	Location	Founded	Current Stage	Private Funding Raised
Bank Alfalah	Commercial bank	Karachi (Pakistan)	1997	Series C	$66M
ADIB	Commercial bank	Abu Dhabi (United Arab Emirates)	1997	Public	-
Abu Dhabi Commercial Bank	Commercial bank	Abu Dhabi (United Arab Emirates)	1985	Public	-
The National Bank of Ras Al Khaimah	Islamic commercial bank with presence in UAE	Ras Al-khaimah (United Arab Emirates)	1976	Public	-
Public Bank Berhad	Commercial bank	Kuala Lumpur (Malaysia)	1966	Public	-

Get a longer list of companies

Companies founded year-on-year in the Islamic Finance sector

16 new startups have been founded so far in 2026 in the Islamic Finance sector. 19 Islamic Finance startups were founded in 2019 - this is the most number of startups founded in any year in the last 10 years.

Total Number of Companies

Year	No. of companies
2026	16
2025	-
2024	-
2023	8
2022	6
2021	11
2020	10
2019	19
2018	12
2017	3

Companies founded across countries in the Islamic Finance sector

United Arab Emirates has 36 Islamic Finance startups, the most by any country, followed by United Kingdom which has 33 startups and Malaysia which has 20.

Total Number of Companies

Country	No. of companies
United Arab Emirates	36
United Kingdom	33
Malaysia	20
Indonesia	17
Pakistan	16
Bahrain	11
Bangladesh	10
United States	9
Saudi Arabia	9
Iraq	9

Stage-wise distribution of the Islamic Finance sector

Out of the total 432 Islamic Finance companies, 41 have secured funding. Among them, 46 have reached Series A or higher, and 43 to Series B or beyond.

Founded - 432

Funded - 41

Series A+ - 46

Series B+ - 43

Series C+ - 43

Company Stage	No. of companies
Founded	432
Funded	41
Series A+	46
Series B+	43
Series C+	43

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430+ Total Companies
$4.08B+ Total Funding
40+ Funded Companies
25+ IPOs
10+ Acquisitions

Total funding year-on-year in the Islamic Finance sector

The Islamic Finance sector saw a total funding of more than $4.08B in the last 10 years. The most amount of funding was in 2017 at more than $1.22B.

Total Funding

Year	Total Funding
2024	-
2023	$765M
2022	$17.6M
2021	$199M
2019	$341M
2018	$800M
2017	$1.22B

Total funding across countries in the Islamic Finance sector

In the last 10 years, Islamic Finance startups in United Arab Emirates have recieved the highest funding among all countries - $1.94B. Malaysia follows with $199M and Bahrain with $29.9M.

Total Funding

Country	Total Funding
United Arab Emirates	$1.94B
Malaysia	$199M
Bahrain	$29.9M
Nigeria	$28.2M
Pakistan	$17.6M
Mauritania	$15M
Oman	-

Total funding amount raised by stage in the Islamic Finance sector

Over the last 10 years, the Islamic Finance sector have seen $17.6M go into Seed Stage funding rounds.

Funding Stage	Total Funding
Debt	$2B
Post IPO	$199M
Seed Stage	$17.6M
Grant	$15M

Recent Funding Rounds in Islamic Finance

In the year 2024, till March 2024, Islamic Finance companies have raised equity funding across 1 round.

Here are some recent, important funding rounds in Islamic Finance:

Company	Round Raised	Amount Raised	Funding Date	Investors
Jaiz Bank	Unattributed	9168	Mar 04, 2024	-
ADIB	PE	9816	May 07, 2023	Emirates International Investement
Dbank	Seed	4569	Jul 28, 2022	Sequoia Capital and 5 more
Dbank	Seed	3922	Mar 2021	-
Bank Nizwa	Seed	8558	Jul 03, 2019	Jabreen Capital

See a more detailed list of funding rounds

Investment Corporation of Dubai is the top investor in Islamic Finance companies based on number of companies invested.

Here are some top investors in Islamic Finance:

Investor	Location	Top Portfolio Companies
Investment Corporation of Dubai	Dubai (United Arab Emirates)	Dubai Islamic Bank and Noor Bank
Mubadala	Abu Dhabi (United Arab Emirates)	Abu Dhabi Commercial Bank and RHB Group
ICD	Jeddah (Saudi Arabia)	Jaiz Bank
DVE Sapta	Kuala Lumpur (Malaysia)	Kinihalal
FALCOM Holding	Riyadh (Saudi Arabia)	Nayifat

See a more detailed list of investors

In the year 2025, till October 2025, 1 acquisition happened in Islamic Finance sector.

Here are some recent, important acquisitions in Islamic Finance:

Company	Acquisition Type	Acquisition Date	Acquirers
Amlak Finance	Business Acquisition	Oct 26, 2025	Al Baraka Bank Egypt
AmMetLife Takaful	Business Acquisition	Oct 02, 2023	Great Eastern Takaful
Summit Bank	Business Acquisition	Apr 26, 2023	-
BuyAnyInsurance.com	Business Acquisition	Sep 23, 2022	Chedid Capital-Holding
Al Salam Bank	Business Acquisition	Jan 28, 2022	Ithmaar Bank

See a more detailed list of acquisitions

Acquisition trends in Islamic Finance

Here are the acquisition trends in Islamic Finance:

Total Number of Acquisitions

Year	No. of companies
2026	-
2025	1
2024	-
2023	2
2022	2
2021	1
2020	-
2019	1
2018	3
2017	1

In the year 2026, till February 2026, 1 IPO happened in Islamic Finance sector.

Here are some recent, important IPOs in Islamic Finance:

Company	IPO Date	Exchange Symbol
Pqgtl	Feb 10, 2026	Pakistan Stock Exchange (PSX)
Nayifat	Nov 22, 2021	Saudi Stock Exchange (TADAWUL)
Bank Albilad	Aug 08, 2019	Saudi Stock Exchange (TADAWUL)
Saudi British Bank	Aug 16, 2018	Saudi Stock Exchange (TADAWUL)
Panin Dubai Syariah Bank	Jan 15, 2014	Indonesia Stock Exchange (IDX)

See a more detailed list of IPOs

Companies founded by alumni from top colleges in the Islamic Finance sector

Most number of Islamic Finance startups have been founded by alumni from INSEAD and Massachusetts Institute of Technology.

College	No. of companies
INSEAD	1
Massachusetts Institute of Technology	1

Total funding in companies founded by alumni from top colleges in the the Islamic Finance sector

In the last 10 years, INSEAD graduates' Islamic Finance companies have raised the most funding among top colleges. Massachusetts Institute of Technology alumni are second.