Dubai-based Zamanat has announced sponsorship of Zamanat Fund CEIC Limited, a tokenized private credit fund domiciled in the Dubai International Financial Centre (DIFC) with a target size of up to $100 million.
The fund addresses a structural financing gap estimated at $250 billion—the unmet SME lending demand across the GCC. Despite SMEs contributing more than half of GDP in the UAE and employing the majority of the private-sector workforce, they receive less than 10% of total bank lending. Across the broader GCC, only around 11% of SMEs have access to any credit.
Regulatory Structure and Blockchain Integration
The fund is registered as a Dubai Financial Services Authority (DFSA) regulated closed-ended Exempt Fund, classified as a Credit Fund. Truleum Venture Partners Limited manages the fund, with Apex Group providing institutional fund administration.
Fund interests will be issued as ZM1 Investment Tokens on ZIGChain, a Layer 1 blockchain designed for regulated institutional investment products. The tokenized structure operates within a whitelisted environment restricted to DFSA Professional Client investors.
According to Umair Tariq, Founder and CEO of Zamanat, the fund creates a connection between regional businesses and institutional capital. The blockchain-native ownership and settlement layer maintains the fund's underlying credit profile and investment strategy.
Investment Focus and Regional Development
The fund will invest in private credit across the region, targeting companies whose financing needs are not fully met through traditional lending. Investment priorities align with economic development initiatives including Saudi Arabia's Vision 2030 and the UAE Centennial 2071.
This represents Zamanat's first live deployment within a broader strategy to develop a global market for Digital Shariah Assets. Global Islamic finance assets are projected to reach $9.7 trillion by 2029, according to LSEG and ICD data, with demand for digital and Shariah-aligned products growing faster than existing institutional infrastructure.
