The upgrade addresses growing demand in APAC and MEA, where many banks still operate on outdated infrastructure.

29 July 2025

Mambu, a Singapore software company, has introduced a suite of upgraded Islamic banking features aimed at helping financial institutions design, launch, and scale Shariah-compliant products with greater speed and transparency.

The latest release includes a new Islamic Profit Sharing (IPS) engine, designed to automate the complex process of calculating and distributing profits in accordance with Islamic principles.

The system reduces operational risk and ensures full transparency, while supporting a broad range of Islamic deposit contracts such as Qard Hassan, Wadiah, Tawarruq, Mudarabah, and Wakalah.

On the financing side, it also accommodates Murabahah, Tawarruq, and Qard Hassan products for personal, SME, and asset-based needs.

Mambu said the enhancements respond to rising demand for Islamic finance, particularly in Asia-Pacific and the Middle East and Africa, where many banks continue to rely on legacy infrastructure that may not meet modern customer expectations or regulatory standards.

The upgraded platform offers a foundation for ethical finance that helps institutions bring Shariah-compliant offerings to market more quickly while maintaining alignment with Islamic principles.

The IPS engine also allows banks to calculate average balances, track profit distribution across pools, products, and individual accounts, and automate tax applications.

These features give institutions the ability to manage detailed insights across customer segments and reduce manual processes.

With its software-as-a-service model and low-code configuration, Mambu enables banks to run both Islamic and conventional banking systems in parallel while keeping them clearly separated.

The platform also supports real-time performance monitoring, built-in security, and regulatory tools, making it easier for institutions to expand into new markets while staying compliant.

The upgraded Islamic banking capabilities are already seeing adoption in the region as banks seek to modernise their operations and better serve digitally engaged customers.

“This launch marks a significant milestone in our commitment to ethical and inclusive finance and to our customers in APAC and MEA.

Mambu’s cloud banking platform coupled with our powerful Islamic Profit Sharing capabilities ensure financial institutions now have access to powerful tools that reduce complexity, automate compliance, and accelerate time to market, all within a fully Shariah-aligned framework.”

said David Becker, Market Sales Director, APAC.

“Islamic banks don’t just need digital tools, they need a flexible foundation built for ethical growth.

To remain competitive in a digitally transforming region, Islamic banks must adopt new technologies; innovators will gain first mover advantages, while those who fail to adapt, risk being left behind. Mambu enables them to lead with agility, trust, and purpose.”

added Harjit Kang, Head of Middle East & Africa, Mambu

https://fintechnews.sg/114830/digital-transformation/mambu-islamic-banking/