• Vault22 is preparing a UAE launch of its Islamic finance platform, targeting younger investors with AI-powered tools and Shariah-compliant portfolios.
• The fintech, backed by Standard Chartered’s venture arm, is expanding across MENA, Africa, and Asia to tap a USD 6T Islamic finance market.
• Its new platform, Hafiq, blends faith-based finance with digital tools, including zakat calculators, asset screening, and thematic investment products.

Vault22

Vault22 is setting its sights on the UAE, betting that demand for digital, Shariah-compliant finance is only getting stronger.

The fintech, backed by Standard Chartered’s innovation arm, is preparing to launch a new platform called Hafiq in the country by mid-2026. The move anchors its expansion into the Gulf, where Islamic finance continues to scale rapidly.

Hafiq is designed as a faith-first personal finance platform. It combines wealth management with tools tailored to Islamic principles. That includes AI-powered screening to filter compliant investments, alongside a real-time zakat calculator and curated portfolios.

The pitch is clear: make Islamic finance more accessible for younger, digital-native investors. Millennials and Gen Z are a key focus, especially as they look for investment options aligned with both values and returns.

Vault22 itself is a relatively new player. It was formed through the merger of South Africa’s 22seven and Singapore-based Autumn. The company is backed by venture units including SC Ventures and Old Mutual Group’s Next176.

Expansion

Its UAE expansion is not random. The country is already one of the largest Islamic finance hubs globally. The broader industry was valued at around USD 6 trillion in 2024, highlighting the scale of opportunity.

Setting up in the Dubai International Financial Centre gives Vault22 a regulatory base and access to regional capital. The firm is also in talks with Gulf-based investors, including family offices, to support its next phase of growth.

Beyond the UAE, the roadmap stretches further. The company plans to roll out Hafiq in Southeast Asia, targeting markets like Malaysia and Indonesia. At the same time, it is expanding its core platform across Africa.

In South Africa, where most of its one million users are based, Vault22 is exploring crypto and stablecoin offerings. It is also building infrastructure for banks, allowing them to offer digital wealth products without developing systems in-house.

Vault22 is positioning itself in that gap, combining faith-based finance with digital tools, and targeting regions where both are in high demand.