Tuum expands Islamic Banking Suite with new cloud-native modules, launching at Seamless Middle East
Dubai, UAE – 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.
About Tuum
Tuum is the core banking platform for a world of banking without limits.
Built for institutions ready to modernize, scale, and lead, Tuum helps banks, lenders and fintechs escape the constraints of legacy technology and accelerate into a new era of agility, innovation, and growth.
Cloud-native and modular by design, Tuum supports all key financial business models from lending and payments to BaaS and Islamic banking — on a single, extensible platform. Clients can modernize progressively, launch products in weeks, and expand into new markets without sacrificing control, compliance, or performance.
With enterprise-grade scalability, real-time processing, and an open API architecture, Tuum delivers the flexibility to adapt fast — while significantly lowering total cost of ownership and shifting budgets toward innovation.
Tuum is trusted by leading financial institutions across the globe to build the future of banking — one without limits.
Tuum. Banking without limits.
www.tuum.com
TUUM PR Contact
For any PR queries please contact
Amanda.steward@tuum.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
an hour ago
- Khaleej Times
Eid Al Adha in UAE: Hundreds of workers celebrate; win car, flight tickets
Hundreds of workers celebrated Eid Al Adha with various activities, competitions, and raffle draws winning valuable prize, including a car and flight tickets. Held under the slogan ' Eid with Our Workers: Joy and Happiness', the activities were organised by the Ministry of Human Resources and Emiratisation (MoHRE) at 10 locations across the UAE. 'Celebrating and honouring workers during holidays and national occasions is an integral part of MoHRE's sustainable strategy", said the ministry, adding: '(Our) objective is to bring joy to workers and enhance their wellbeing, quality of life, and psychological and social stability, while fostering a sense of belonging to the community and motivating them to give their best.' Stay up to date with the latest news. Follow KT on WhatsApp Channels. Eid Al Adha events were held at workers' compounds in Jebel Ali, Al Quoz, and Muhaisnah in Dubai; Mussafah and Hameem Worker City in Abu Dhabi; Al Sajaa in Sharjah; the Industrial Areas in Ajman and Umm Al Quwain; RAKEZ in Ras Al Khaimah; and Al Hail Industrial Area in Fujairah. Partners from the government and private sectors took part in the celebrations, including the Ministry of Interior; Federal Authority for Identity, Citizenship, Customs, and Ports Security; the General Commands of Abu Dhabi, Dubai, and Sharjah Police; and municipalities across the country. Partners also include Abu Dhabi Ports Group; the General Directorate of Residency and Foreigners Affairs in Dubai; Abu Dhabi Civil Defence Authority; Dubai Civil Defence; the Permanent Committee for Labour Affairs in the Emirate of Dubai; Dubai's Roads and Transport Authority (RTA); the Islamic Affairs and Charitable Activities Department in Dubai; Sharjah's Labour Standards Development Authority; the National Ambulance; Dubai Corporation for Ambulance Services; and Ras Al Khaimah Economic Zone (RAKEZ). MoHRE underscored the Eid celebrations 'highlight the significant role that workers in the UAE play in driving the country's development, supporting its ambitious and pioneering economic vision, and cementing its status as a premier global destination for living, investing, and working.'
Zawya
2 hours ago
- Zawya
Rabdan Academy launches the first edition of the 'Inclusivity in Safety' conference
In Strategic Partnership with the Ministry of Interior A strategic platform to unify national efforts in enhancing emergency and crisis response systems with a focus on integrating People of Determination (POD). The conference showcases the latest global technological and policing practices to support caregivers and first responders. Distinguished participation from experts of the Secure Communities Forum and prominent policing and academic leaders. Aligned with the UAE's Year of Community 2025, reflecting the country's commitment to data-driven and inclusive policymaking. Abu Dhabi – UAE: Rabdan Academy, in strategic partnership with the Ministry of Interior, has announced the launch of the first edition of the 'Inclusivity in Safety' Conference, scheduled to take place on 16 June 2025, at the Academy's campus in Abu Dhabi, in a hybrid format (in-person and virtual). The conference coincides with the UAE's Year of Community 2025 and aligns with the nation's vision to foster inclusive social frameworks. It aims to enhance the readiness of the national emergency response system, while ensuring the integration of People of Determination (POD) in civil protection and community preparedness plans. The conference highlights several strategic and specialized themes, including: the role of first responders in assisting PODs during disasters and emergencies, presentations of advanced technological solutions and policing practices that promote inclusive community safety, field-based international experiences from leading law enforcement agencies, case studies and research papers addressing the challenges and opportunities of integrating PODs in public safety systems, victim rights and equity frameworks for PODs during emergency response, as well as Interactive simulation scenarios illustrating best practices in immediate and specialized response. The conference will also showcase smart technological innovations that support police officers and field caregivers—such as artificial intelligence, geolocation systems, and assistive communication devices—to facilitate safer and more accessible services for PODs under exceptional circumstances. H.E. Salem Al Saeedi, Vice President of Rabdan Academy, affirmed that the conference represents a strategic milestone reflecting the Academy's deep commitment to developing realistic and innovative solutions that ensure the inclusion of all societal segments in national response frameworks. 'Our joint work with the Ministry of Interior strengthens our ability to build a safer and more prepared environment, especially amid rising challenges. Through this conference, we aim to establish meaningful dialogues and pioneering practices that contribute to advancing national policies and plans,' Al Saeedi said. Lt. Colonel Dana Humaid Al Marzouqi, Director General of the International Affairs Office at the Ministry of Interior, stated that achieving inclusivity in safety is a core focus of the Ministry's approach to strengthening sustainable community response. Al Marzouqi emphasized that the conference aims to highlight the critical roles PODs can play within national preparedness systems and promote a flexible, equitable environment in emergency situations. The conference will feature notable participation from experts of the Secure Communities Forum, one of the world's leading platforms dedicated to the advancement of inclusive community safety. These experts will present advanced perspectives and successful international experiences that contribute to the integration of community safety frameworks, through expert panels and specialized workshops, enriching both theoretical and practical content of the event. The event brings together a distinguished group of global experts in safety and civil protection, alongside senior police and academic figures, and representatives from POD care organizations. It serves as a dynamic platform for experience exchange and discussions on the latest developments in comprehensive community preparedness. This conference marks a pivotal step in enhancing the UAE's emergency resilience and public safety institutions, and demonstrates the country's unwavering commitment to building a safe, resilient, and inclusive society. It also supports government efforts to design data-driven policies based on practical insights that respond to diverse human needs. The conference aims to unify efforts across government, security, and academic sectors to build a high-impact, innovative response system anchored in inclusivity, strategic partnerships, and public awareness—further reinforcing the UAE's regional and global leadership in inclusive community preparedness. Registration is open for those interested in participating in person or virtually through the following link: About Rabdan Academy Rabdan Academy is a government-owned world-class education institution established to coordinate and enhance learning outcomes for organisations and individuals in the Safety, Security, Defence, Emergency Preparedness and Crisis Management (SSDEC) Sectors. The Academy was officially established under Law No. 7 for 2013, issued by the late Sheikh Khalifa bin Zayed Al Nahyan and is accredited by the UAE's Commission for Academic Accreditation (CAA) of the Ministry of Education. The Academy is the world's first higher education institution specializing in the SSDEC domain to achieve a top "5-Star" rating in six key categories of the QS Stars University Rating System: Teaching, Facilities, Employability, Global Engagement, Academic Development, and Good Governance. As a unique institution, the Academy provides learning in a dual approach, combining academic and vocational education in one place, whilst recognising prior learning and experience and providing accredited and transferable credit from course to course and job to job. For more information, please visit For Media Enquiries, please contact: Corporate Communications Office (cco@
Zawya
2 hours ago
- Zawya
IntelliDent AI and Woxsen University forge strategic alliance to advance AI research, leadership & innovation in healthcare
IntelliDent AI, a Dubai-based healthtech company at the forefront of artificial intelligence solutions in dentistry, has signed a Memorandum of Understanding (MoU) with Woxsen University's AI Research Centre, Hyderabad, India. The five-year strategic partnership aims to drive collaborative innovation through joint research, live project exposure, and advanced technical training. This collaboration is designed to fuel co-innovation, AI-driven entrepreneurship, and cutting-edge research in digital healthcare. Under this agreement, IntelliDent AI and Woxsen University will engage in joint academic-industry initiatives focused on AI-driven healthcare solutions, consultancy-based projects, and the commercialization of technology innovations. The MoU outlines cooperation in the following key areas: Real-World AI Projects: IntelliDent will provide students from Woxsen's AI Research Centre hands-on exposure to live, real-time projects from the healthcare domain—preparing them to address real-world challenges with AI-driven solutions. Joint Research & Publications: Both institutions will collaborate on research grants, white papers, product prototypes, and academic publications that shape the future of medical technology. Entrepreneurship & Product Commercialization: Special focus will be placed on developing products from ideation to market readiness, with guidance on building startups and commercializing AI health tech solutions. Cross-Training & Knowledge Exchange: Faculty and industry professionals will exchange expertise in best practices, fostering a culture of mutual growth and continuous innovation. Strategic Awareness Initiatives: Co-hosted awareness programs, leadership bootcamps, and innovation challenges will promote ethical AI, responsible leadership, and entrepreneurship across emerging markets. Speaking on the occasion, Mr. Affaan Shaikh, Founder and CEO of IntelliDent AI, stated: 'This MoU with Woxsen isn't just about technology, it's about inspiring a generation of AI leaders who blend deep tech knowledge with entrepreneurial thinking and purpose-driven leadership. By embedding awareness, education, and innovation into every layer of this partnership, we are not only building smarter healthcare systems, but also empowering future changemakers.' The MoU was signed by Dr. Raul V. Rodriguez, Vice President of Woxsen University, and Mr. Affaan Shaikh, with oversight by Dr. Hemachandran K, Director of the AI Research Centre, and Mr. Khalid Shaikh, Advisor to IntelliDent AI. This milestone underscores IntelliDent AI's commitment to shaping global talent in healthcare AI and highlights Woxsen's ongoing mission to blend business, technology, and innovation through meaningful industry collaborations. Together, IntelliDent AI and Woxsen University are setting the foundation for impactful, future-forward education —where research, leadership, and real-world problem-solving converge.
