Tuum launches expanded Islamic Banking suite at Seamless Middle East

By Gloria Methri

Core banking innovator Tuum has launched its expanded Islamic Banking suite at Seamless Middle East, introducing a comprehensive set of cloud-native, Sharia-compliant modules designed to help financial institutions modernise and scale their operations with speed and compliance.

The launch marks a significant leap following Tuum’s foundational Islamic banking capabilities and comes at a time when the global Islamic finance sector is projected to exceed $5.9 trillion by 2026. The company aims to address long-standing tech bottlenecks in the industry by combining agility, automation, and Sharia compliance into a unified digital platform.

Key features of Tuum’s expanded Islamic Banking solution include:

• Modular support for Islamic deposit accounts like Mudarabah, Wakalah, Wadiah, and Qard Hassan, with automated profit-sharing.
• Advanced Islamic Lending module enabling Tawarruq-based consumer finance, embedded within Tuum’s unified loan platform.
• Real-time profit calculation & distribution, and a standalone profit-sharing module that can integrate with any core banking system.
• Automated Sharia compliance with AAOIFI-aligned validations, reducing manual processes and audit risks.
• Digitised Tawarruq execution for seamless Murabaha and Istisna transactions.

Tuum has also partnered with DDCAP Group, a leading facilitator of asset-backed Islamic finance, to automate Tawarruq workflows—streamlining trade execution, asset registry, and settlement while ensuring full Sharia adherence.

“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. “Our cloud-native platform, enhanced by DDCAP’s automated Islamic finance infrastructure, does just that.”

Regional Focus and What’s Ahead

The suite is tailored for deployment across the Middle East and North Africa (MENA) region. It supports local data residency regulations via major hyperscalers like Google Cloud, AWS, OCI, Azure, and private cloud options.

Tuum’s roadmap also includes Islamic card solutions—from debit cards to Ujrah and Tawarruq-based credit cards—slated for release in 2025. By blending modern architecture, deep Sharia compliance, and strong regional alignment, Tuum empowers institutions to meet the rising expectations of digital-first, ethical banking customers.