Zamanat Sponsors $100M Tokenized Fund to Target GCC's $250B SME Credit Gap

Zamanat has announced its sponsorship of a tokenized private credit fund domiciled in the Dubai International Financial Centre (DIFC), which aims to raise up to $100 million. The vehicle, named Zamanat Fund CEIC Limited, will target the significant financing shortfall faced by small and medium-sized enterprises (SMEs) across the Gulf Cooperation Council (GCC) region.

Addressing a Regional Credit Gap

The fund aims to address what the World Bank estimates is a $250 billion financing gap for SMEs in the GCC, where only 11% of such businesses reportedly have access to credit. Despite being crucial economic drivers—generating over half of the UAE's GDP, for example—SMEs in the country receive less than 10% of total bank lending, according to the source.

The fund will invest in private credit, providing capital to established regional companies underserved by traditional banking channels. "Strong businesses across the GCC still struggle to access growth capital despite sound fundamentals," said Umair Tariq, Founder and CEO of Zamanat, in a statement. He added that the fund was sponsored to create a "credible route between those businesses and institutional capital."

A Regulated, Tokenized Structure

The fund is structured as a closed-ended Exempt Fund regulated by the Dubai Financial Services Authority (DFSA) and is classified as a Credit Fund. It represents a significant application of blockchain technology to private market assets within a regulated environment.

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Interests in the fund will be issued as ZM1 Investment Tokens on the ZIGChain blockchain, creating a digital layer for ownership and settlement. This structure is designed for Professional Clients, as defined by the DFSA, allowing qualifying investors to participate. The fund is managed by Truleum Venture Partners Limited, a DFSA-regulated firm, and administered by institutional service provider Apex Group.

Context and Broader Ambitions

This launch serves as a proof point for Zamanat's broader strategy to build a global market for "Digital Shariah Assets." While the company noted this specific fund is not marketed as Shariah-compliant, its operating model combines investment structuring and digital distribution for real-world assets. The global Islamic finance market is projected to reach $9.7 trillion by 2029, according to a report by LSEG and ICD, highlighting the demand for institutionally-sound, digitally-native financial products.

"Bringing institutional structure and digital distribution together within a DFSA-regulated framework sets the standard for how this market should be built," commented Peter Hughes, Founder and CEO of Apex Group. Zamanat stated it is also developing a pipeline of other digital assets in real estate, receivables, and private credit.