IMAN Holding is seeking to raise $100 million (about AED 367.25 million) to support the expansion of its AI-driven Islamic banking platform across the Gulf Cooperation Council and other international markets.
IMAN, which has roots in Uzbekistan’s Islamic fintech market, is positioning the raise around a broader shift in digital finance: the move from transaction-based banking apps to systems that use data, behavior, and automated decision-making to personalize financial services.
Where AI Meets Islamic Finance
The company says its platform combines Shariah-compliant financial structures with artificial intelligence tools designed to support savings, payments, investment services, and financing decisions inside a single mobile ecosystem.
Rustam Rahmatov, founder and Group CEO of IMAN Holding, framed the company’s approach as a response to what he sees as a deeper problem in mainstream banking. “The problem with banking is not its access. It’s the way it was built. It was never built to understand people.”
The company’s pitch is built around a model that goes beyond digital account access. IMAN says it is developing systems that analyze transaction data, behavioral patterns, and alternative data sources to help assess users’ financial context in real time. Its AI assistant, called Aisha, is being developed as a conversational interface for financial services, according to the release.
Uzbekistan Roots, Regional Ambitions
IMAN’s expansion plan comes as Islamic finance gains a clearer regulatory footing in Uzbekistan. In March 2026, Uzbekistan enacted Law No. ЎРҚ-1126, introducing a legal framework for Islamic banking and Islamic finance activities. The law, which becomes effective on June 29, 2026, authorizes the Central Bank of Uzbekistan to approve Islamic finance standards and establishes governance expectations for licensed institutions conducting Islamic banking activities, according to KPMG’s summary of the legislation.
That regulatory backdrop gives IMAN’s plans additional context. The company says it has already built a Shariah-compliant fintech platform in Central Asia and now serves more than one million registered users. It also says it manages more than $100 million (AED 367.25 million) in assets and has raised more than $10 million (AED 36.73 million) to date.
Expanding from Uzbekistan into the GCC will require more than user growth. IMAN will need to navigate licensing requirements, local banking partnerships, data governance rules, and Shariah supervision across markets where Islamic finance is already well established. That makes the planned raise important not only as growth capital, but also as funding for the regulatory and operational groundwork needed to compete beyond Central Asia.
Earlier Growth Sets Up A Bigger Push
IMAN’s latest announcement shows how the company’s ambitions have moved beyond its earlier fintech focus. The business initially built its name around Shariah-compliant consumer finance and investment products, but it is now presenting itself as a broader digital banking platform with artificial intelligence at the center of its next phase.
That shift changes the scale of the opportunity and the challenge. Building an AI-driven Islamic banking platform requires more than adding new app features. It means developing stronger compliance systems, deeper financial infrastructure, and a product model that can work across different markets while still meeting Shariah requirements.
The planned $100 million raise is therefore not just about expansion. It is also about giving IMAN the capital base to move from a fintech platform into a more ambitious Islamic banking model.
The GCC Opportunity
The GCC is a natural target for Islamic finance platforms because the region combines large Muslim-majority markets, sophisticated banking systems, and strong demand for digital financial services. IMAN’s plan to expand into the Gulf also reflects a wider pattern among Central Asian and emerging-market fintech companies seeking regional capital, licensing opportunities, and cross-border scale.
The company’s focus on AI also places it inside a competitive and fast-changing part of financial technology. Banks, neobanks, and fintech platforms are increasingly using automation to improve credit assessment, customer service, fraud monitoring, and financial recommendations. IMAN is trying to differentiate itself by combining those capabilities with Shariah-compliant structures and a values-based financial proposition.
Entering GCC markets typically requires regulatory approvals, local partnerships, capital adequacy planning, compliance infrastructure, and strong governance around data use. Those issues are especially important for a company promoting AI-assisted financial decision-making, where transparency and user consent are central to trust.
