IMAN Holding Announces $100 Million Fundraise to Expand AI-Driven Islamic Banking Platform

IMAN Holding is raising $100M to expand its AI-powered Islamic banking platform across the GCC, following strong traction with 1M+ users.

IMAN Holdings has announced an ongoing capital raise of $100 million to support the development and global expansion of its AI-driven Islamic banking platform, with a focus on scaling operations into the GCC and other international markets.

The fundraise is intended to support the company’s transition toward a fully licensed Islamic AI bank, alongside continued investment in artificial intelligence infrastructure, regulatory development, and product expansion.

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

IMAN Holdings is developing a financial platform designed to incorporate behavioural data, real-time decision systems, and Shariah-compliant financial structures into a unified digital environment. The company states that its approach focuses on understanding financial behaviour alongside transaction data.
The timing of the raise reflects broader developments in financial services, where digital platforms have increased access and efficiency, while continued innovation is focused on data interpretation, predictive systems, and user-level financial insights.
“The future of banking won’t be defined by who builds the fastest app. It will be defined by who builds systems that understand people,” said Timur, Co-Founder and CIO.

Growth and Market Position
IMAN Holdings has established operations in Central Asia, where it developed a Shariah-compliant fintech platform that now serves more than one million registered users and manages over $100 million in assets.
The company reports that it has raised more than $10 million to date, backed by international venture capital firms and financial institutions. IMAN is targeting more than $250 million in assets under management by the end of 2026.
Founded in 2020, the company’s flagship platform enables users to access savings, payments, and investment services within a single mobile ecosystem.
“We didn’t start with a bank. We started with behavior. What we’re building now is the infrastructure that can scale that understanding globally,” said Madiyar, Co-Founder and COO.

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AI and Product Development
IMAN’s platform incorporates artificial intelligence to support financial decision-making processes, including transaction analysis, behavioural pattern recognition, and contextual financial recommendations.
The system processes financing decisions using alternative data sources alongside traditional financial inputs. According to the company, this approach enables real-time assessment of user behaviour and financial context.
“The real shift is that the system doesn’t just evaluate you. It learns you,” “The company is also developing AI-driven interfaces designed to interact with users through conversational systems. “AI shouldn’t sit on top of the interface. It should be the interface,” said Shakhzod, Co-Founder and Chief Risk and Data Officer.
IMAN is developing an AI system known as Aisha, designed to support user interaction with financial services through adaptive, natural-language-based engagement.
“It’s closer to having a financial advisor than using an app,” he added.

Islamic Finance and Transparency
IMAN’s platform integrates Shariah-compliant financial structures into its core system architecture. According to the company, this includes embedding compliance processes directly into transaction workflows.
“AI allows us to make compliance visible,” said Shakhzod. “Not hidden in documents, but embedded into the experience.”
The company states that its model is designed to provide transparency into financial decisions, enabling users to understand both outcomes and underlying structures.

Market Opportunity and Expansion
IMAN is targeting expansion into the GCC, which represents a key strategic region due to its regulatory maturity in Islamic finance and strong demand for digital financial services.
The company cites a global market of approximately 1.9 billion Muslims, alongside continued growth in mobile-first financial adoption across emerging markets.
“The future of banking is predictive, not in a way that feels intrusive, but in a way that feels supportive.”
Alongside its consumer platform, IMAN is also developing infrastructure to support financial institutions in deploying AI-powered, Shariah-compliant services. We don’t think the future is one app that owns everything,” said Shakhzod. “It’s an ecosystem of services connected by intelligence.”

Fundraise Objectives
The current capital raise is focused on securing a full Islamic banking license, expanding AI infrastructure and product capabilities, and supporting international growth across the GCC and other markets. “The next billion users won’t adopt traditional banking. They will adopt intelligent, ethical banking,” said Jazeer Jamal, Group CXO and Vice Chairman.

The company states that the fundraise reflects both internal growth metrics and broader market demand for financial systems that integrate technology, ethics, and real-time intelligence.

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