Fintech Vault22 to Launch Islamic Finance Platform Hafiq in UAE
Backed by Standard Chartered’s venture arm, Vault22 plans to launch Hafiq in the UAE by mid-2026, targeting younger users with AI-driven Islamic finance tools.
Vault22 is preparing to launch its Islamic finance platform ‘Hafiq’ in the UAE by mid-2026, marking its entry into the Gulf market.
The fintech was formed through the merger of South Africa’s 22seven and Singapore-based Autumn, and is backed by investors including the innovation arm of Standard Chartered and Old Mutual Group’s Next176.
Hafiq is positioned as a personal finance platform built around Islamic principles, combining wealth management tools with features such as AI-powered screening for Sharia-compliant investments, a real-time zakat calculator and curated portfolios.
The platform targets millennials and Gen Z users, aligning with demand for digital financial services tailored to younger demographics.
Vault22 is establishing a presence at the Dubai International Financial Centre to support regulatory requirements and access regional capital, while also engaging with Gulf-based investors, including family offices.
The UAE launch forms part of a broader expansion strategy tied to the global Islamic finance market, which the company estimates at around USD 6 trillion in 2024.
Beyond the UAE, Vault22 plans to expand Hafiq into Southeast Asia, including Malaysia and Indonesia, while continuing to scale its core platform across Africa.
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