- – Final ADGM regulatory approval expected within a month
- – Licenses being pursued for expansion into Saudi Arabia
- – Exploring entry into other key regional financial hubs beyond the UAE and Saudi Arabia
- – Money20/20 reflects Saudi Arabia’s growing status as a global fintech hub
- – IPO not currently planned but may be considered as a strategic long-term option
Riyadh – Mohammed Badawy
Samy Mohammed, Co-Founder of Tabadulat, a Sharia-compliant investment platform registered in Abu Dhabi Global Market (ADGM), said the company is currently focused on strengthening its presence in the UAE after obtaining preliminary approval from the Financial Services Regulatory Authority (FSRA) at ADGM. He added that final approval is expected within approximately one month, based on ongoing discussions with regulators.
Speaking in an exclusive interview with FinTech Gate on the sidelines of Money20/20 Middle East in Riyadh, Samy highlighted Saudi Arabia as a top strategic priority, citing its evolving regulatory framework and sizable, Sharia-sensitive market. He confirmed that Tabadulat is actively working to secure the necessary licenses to expand into the Kingdom through strategic partnerships and institutional solutions.
Tabadulat is also studying potential expansion into other regional financial centers in addition to the UAE and Saudi Arabia, as part of its broader plan to become the world’s first fully integrated Sharia-compliant global investment broker, enabling Muslim investors to confidently access over 20 international stock exchanges within a faith-based financial ecosystem.
Regarding an IPO, Samy noted that a public listing is not part of the company’s near-term plans, but may become a strategic expansion move in the long run, once a clear capital deployment strategy and global scale are in place.
* What inspired the launch of Tabadulat?
– Tabadulat was born out of a deeply personal experience. While working as a professional trader in London, I struggled to invest my money in a way that fully complied with Islamic principles. Most conventional platforms rely on interest, synthetic contracts, or swaps — all of which contradict Islamic values. Even the few Sharia-compliant local options lacked global market access.
That’s when the idea came to life: to create the first fully integrated, global, Sharia-compliant brokerage that gives Muslim investors seamless access to over 20 global stock markets — empowering them to invest with confidence and in line with their faith.
Tabadulat officially launched in 2024 to serve Muslim investors seeking ethical, Sharia-compliant investment opportunities in global capital markets, steering clear of riba (interest), gharar (excessive uncertainty), maysir (speculation/gambling), and prohibited sectors.
* What are your expansion plans for the UAE and the broader region?
– We consider Abu Dhabi and ADGM as our primary base. Our focus within the UAE is to deepen our presence and maximize value from this hub. Regionally, Saudi Arabia is a top priority given its regulatory maturity and the scale of its faith-conscious market. We are actively pursuing licenses there to expand through institutional partnerships and fintech solutions.
* What differentiates Tabadulat from other players in space?
– Tabadulat was purpose-built for halal investing from day one. We offer ultra-low trading fees starting at just 0.25% or $1 per trade, with zero hidden costs and absolutely no interest — ensuring ethical and cost-efficient trading for retail investors.
Our offerings include: Fractional shares, Sukuk, Gold, Global equities. All supported by an instant Shariah screening engine. In addition, we provide AI-powered tools, a Zakat calculator, and advanced analytics, giving investors a unique blend of technology and faith-based guidance.
Unlike traditional brokers or robo-advisors, Tabadulat offers a fully integrated mobile platform that filters halal stocks and Sharia-compliant funds, with real-time compliance tracking. Assets undergo periodic reviews, and users receive immediate notifications if any asset loses its Sharia status — ensuring continued compliance.
* What does receiving preliminary ADGM approval mean for you? When do you expect final approval?
– Preliminary approval from ADGM is a significant milestone that validates our model and vision. We submitted all required documents back in July and met the key regulatory criteria. Based on our discussions with the authorities, we expect to receive final approval within the next month.
Are you exploring licenses from other financial centers in the UAE or region?
– Absolutely. While Abu Dhabi is our launchpad, Saudi Arabia is our next major focus. We’re also evaluating other regional hubs to build a strong regulatory foundation that inspires trust among both retail and institutional investors.
* What are the core features Tabadulat offers to investors?
– Tabadulat provides: Access to global halal markets: Users can invest in a wide array of Sharia-compliant stocks across the US, Europe, the GCC, Asia, and beyond.
Daily Shariah screening of stocks and ETFs, ensuring real-time halal investment options without the need for paid third-party services.
Integrated Zakat calculator, Comprehensive Sharia reports — at no extra cost. Our tools are designed to help investors fulfill their financial and religious obligations efficiently.
* Where do you see Tabadulat in five years? Do you aim to become the world’s leading halal investment platform?
– We have a dual-track vision: For retail investors: We aim to reach 500,000 users globally and evolve from a broker into a comprehensive wealth management platform, offering fractional sukuk, tokenized real estate, and multi-currency investing.
For institutions: We plan to provide advanced portals for asset managers and family offices, integrating with banking systems via payment licenses, debit cards, and financial infrastructure solutions.
Ultimately, we want to empower Muslims to break away from the conventional interest-based financial system and access a fully Islamic financial ecosystem.
* Is an IPO part of your plans?
– An IPO is not on our immediate roadmap. Our focus right now is on building a robust platform, securing licenses, and expanding our services for both retail and institutional segments. However, as we scale globally with a clear capital strategy, going public could become a strategic growth path.
* Does the growth of Islamic finance present a global opportunity for Tabadulat?
– Absolutely. The global Islamic finance market is projected to reach $7.5 trillion by 2028, and we’re entering at a time of rising demand for halal, accessible investment solutions.
By committing to strict Sharia compliance — via an independent Sharia board, regular audits, and Sharia-based bilateral agreements — we’re laying the infrastructure to become a trusted global leader.
Tabadulat is fully aligned with AAOIFI standards, the global benchmark for Islamic finance, and will operate as a fully Sharia-compliant financial institution.
* Are you planning to offer new products like sukuk or Sharia-compliant crowdfunding?
Yes, these are part of our roadmap. We’re working on offering sukuk, REITs, and even Sharia-compliant crowdfunding in a transparent and accessible way to open the doors for a broader base of Muslim investors.
* How important is multi-currency investment access?
– It’s critical. There are around 40,000 listed equities globally, over 10,000 of which are Sharia-compliant, spread across markets like the US, ADX, Tadawul, and the London Stock Exchange. By enabling multi-currency investing, we allow Muslims to diversify across geographies, sectors, and currencies — whether in Western or emerging markets like Saudi Arabia and the UAE.
* What does your institutional offering look like?
– We provide a dedicated professional platform for wealth and asset managers, including family offices, high-net-worth individuals, funds, and institutional investors. This includes specialized tools, premium support, and relationship managers for tailored service.
* What did your participation in Money20/20 mean for Tabadulat?
– Money20/20’s debut in Saudi Arabia underscores the Kingdom’s growing influence as a global fintech innovation hub. The event brought together regulators, global leaders, and innovators — creating a powerful platform to accelerate fintech growth in the region.
For Tabadulat, it was a unique opportunity to spotlight halal investing on one of the world’s top fintech stages and to forge partnerships that will shape the future of Islamic finance.
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