FF News Logo
Sunday, September 07, 2025
Sibos | FFNews

Breaking News

Gemini Launches Staking and Derivatives for EU Customers Pave Finance, an AI-Powered, Institutional-Grade, Personalized Wealth Management Software Company Raises $14m in an Oversubscribed Seed Financing ebankIT to Unveil Industry’s Leading AI Transactional Banking Assistant Using Agentic AI at FinovateFall 2025 Varo Bank to Accelerate Responsible and Customer-Focused AI Efforts with New Chief Artificial Intelligence Officer Asmau Ahmed Tangram Taps INSTANDA to Accelerate Launch of Fully Customizable E&S Insurance Product for Security Guard Industry Q2’s AI-Driven Enhanced Payee Match Detects 3x More Suspected Fraud For Customers In Its First Year Lead Bank Closes Series B Fundraising Round equipifi® Joins the Jack Henry™ Fintech Integration Network and Expands Access to Bank BNPL Elliptic Powers Risk Intelligence for BVNK’s Layer1 – Enabling Stablecoin Payments, Trading and Settlement at Scale Elysian Raises $6M Seed Round to Redefine Insurance Claims Services with AI-Native Platform PayPal Selects Nova Credit to Power U.S. Cash Flow Underwriting Weyay Bank Empowers Customers With Hide Your Money From Yourself Campaign 1Money Secures 34 U.S. Money Transmitter Licenses and Bermuda BMA Class F License to Support Stablecoin Payments Worldwide Spinwheel Secures Strategic Investment from Citi Ventures to Accelerate the Future of the Consumer Credit Ecosystem Pointsville Secures Series A Funding Led by Valor Capital Group with Global Strategic Partners to Accelerate Asset Digitization & RWA Growth

Tuum Expands Islamic Banking Suite with New Cloud-Native Modules, Launching at Seamless Middle East

Tuum, the next-generation core banking provider, is set to unveil its comprehensive Islamic Banking suite at Seamless Middle East, reinforcing its commitment to empowering financial institutions with cutting-edge, Sharia-compliant banking solutions. This marks a major milestone following last year’s announcement of Tuum’s foundational Islamic Banking capabilities.

The Islamic finance sector is projected to reach $5.9 trillion by 2026, driven by increasing demand for ethical, interest-free financial services across both established and emerging markets. However, legacy technology limitations, coupled with a lack of scalable digital solutions, have hindered Islamic banks’ ability to modernize, innovate, and meet evolving customer expectations.

Innovation and Compliance: Advancing Islamic Banking with Modern Technology

Tuum’s Islamic Banking suite is designed to empower financial institutions with a cloud-native, highly flexible, and scalable platform that ensures seamless compliance with Sharia principles. Built to support both fully Islamic banks and Islamic banking windows, Tuum’s modular core enables institutions to launch and scale Islamic banking products with agility.

As part of its commitment to delivering best-in-class solutions, Tuum has partnered with DDCAP Group, a leading facilitator of asset-backed, Sharia-compliant transactions. This collaboration enhances Tuum’s capabilities by enabling automated Tawarruq execution, streamlining trade execution, asset registry, and settlement tracking while ensuring full Sharia compliance.

“As demand for Sharia-compliant banking solutions continues to grow, financial institutions need a core banking platform that balances compliance with innovation,” said Miljan Stamenkovic, VP Sales at Tuum. “Tuum’s modern, cloud-native technology provides that foundation, while our partnership with DDCAP further strengthens our offering by automating key Islamic financing workflows.”

Key Differentiators of Tuum’s Islamic Banking Solution

The expanded offering now includes dedicated Islamic Accounts & Deposits—covering Mudarabah, Wakalah, Wadiah, and Qard Hassan—as well as an advanced Islamic Lending module featuring Tawarruq-based consumer finance. These additions position Tuum as one of the few cloud-native core banking platforms capable of supporting both full-fledged Islamic banks and Islamic banking windows.

  • Islamic Deposit Accounts – Support for Mudarabah, Wakalah, Wadiah, and Qard Hassan accounts with automated profit-sharing.
  • Real-Time Islamic Profit Calculation & Distribution – Ensures precise and transparent profit-sharing, aligned with Sharia principles
  • Standalone Profit-Sharing Module – A unique module that integrates with any core banking system to enable automated Mudarabah and Wakalah-based profit distribution.
  • Automated Sharia Compliance – Built-in validations to streamline compliance with AAOIFI standards, reducing manual intervention and audit complexities.
  • Tawarruq-Based Financing – Digitized execution of Murabaha and Istisna transactions, ensuring seamless compliance.
  • Unified Lending Framework – Embeds Islamic financing within Tuum’s existing loan and finance module, allowing financial institutions to manage both conventional and Islamic financing in a single system.

Unlocking Growth in the Islamic Banking Sector

Tuum’s entry into the Islamic Banking space aligns with its broader expansion into the Middle East and North Africa (MENA) region, where demand for digital-first, Sharia-compliant banking solutions is on the rise.

Tuum’s cloud-native platform is designed for flexibility, offering deployment on locally available hyperscalers—including Google Cloud, AWS, OCI, and Azure—as well as private cloud options, ensuring compliance with regional data residency requirements.

With its scalable architecture, best-of-breed ecosystem partners like DDCAP, and deep regional expertise, Tuum is well-positioned to empower financial institutions looking to modernize their Islamic Banking offerings.

What’s Next?

Building on this launch, Tuum is already developing Islamic Card solutions, including Islamic debit cards, Ujrah-based credit cards, and Tawarruq credit cards. These will be introduced in line with Tuum’s 2025 product roadmap.

Tuum’s presence at Seamless Middle East underscores its vision of banking without limits—helping institutions modernize their technology, enter new markets, and deliver financial products that truly resonate with their customers.

Visit Tuum at Seamless Middle East 2025 to explore the future of Islamic Banking.

People In This Post

Companies In This Post

  1. Gemini Launches Staking and Derivatives for EU Customers Read more
  2. Pave Finance, an AI-Powered, Institutional-Grade, Personalized Wealth Management Software Company Raises $14m in an Oversubscribed Seed Financing Read more
  3. ebankIT to Unveil Industry’s Leading AI Transactional Banking Assistant Using Agentic AI at FinovateFall 2025 Read more
  4. Varo Bank to Accelerate Responsible and Customer-Focused AI Efforts with New Chief Artificial Intelligence Officer Asmau Ahmed Read more
  5. Tangram Taps INSTANDA to Accelerate Launch of Fully Customizable E&S Insurance Product for Security Guard Industry Read more
Finovate-Fall-banner- 300x300 (1)