CBDC’s balancing act; Canada government halal investment; MAL raises $230m

January 16, 2026

Pulse of the Global Islamic Economy

Rajab 27, 1447 AH

Assalamualaikum,

In our editor’s pick this week, we examine how central bank digital currencies (CBDCs) are navigating a tightrope, being pursued worldwide as a means to modernize payments, preserve monetary sovereignty, and compete with private digital currencies, while raising complex trade-offs around bank stability, privacy, governance, and cross-border interoperability.

Meanwhile, Abu Dhabi-based Islamic digital bank MAL has raised a record $230 million seed round to fund product development, licensing, and the phased launch of its mobile-first platform across Middle Eastern and Asian markets. 

And finally, the Canadian government is investing up to $2.26 million to expand halal beef processing as part of its ‘Buy Canadian’ food strategy.

Did you know?

In 2024, 73% of women in low- and middle-income economies held a financial account, up 7% from 2021, with formal saving rising to 36% (from 22%) and digital payments to 58% (from 50%), yet around 700 million women globally remain unbanked, limiting their financial resilience.

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