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Zamanat has sponsored Zamanat Fund CEIC Limited, a DIFC-domiciled tokenized private credit fund with a target size of up to 100 million dollars, the company said in a statement. The vehicle addresses the GCC’s estimated 250 billion dollar SME financing gap, where only 11 percent of small and medium-sized enterprises enjoy credit access according to the sponsor’s figures. It channels institutional capital toward strong homegrown businesses whose requirements traditional lenders do not fully meet.
The DFSA-regulated closed-ended exempt credit fund receives management from Truleum Venture Partners and administration from Apex Group, Zamanat reported. Fund interests issue as ZM1 Investment Tokens on ZIGChain, a purpose-built layer-one blockchain, within a whitelisted setting limited to DFSA professional clients. Umair Tariq, founder and CEO of Zamanat, stated, “Strong businesses across the GCC still struggle to access growth capital despite sound fundamentals. Zamanat sponsored the Fund to create a credible route between those businesses and institutional capital. With a target size of up to USD 100 million and interests issued as Investment Tokens, it is our first live proof point for bringing GCC private credit into a regulated digital structure for Professional Clients.”
Tokenization supplies blockchain-based ownership and settlement without modifying the fund’s underlying credit profile or repayment risks, a Zamanat assessment found. Global active on-chain private credit reached 18.9 billion dollars in April 2026, a 180 percent year-on-year rise, according to sector data referenced in related coverage. The regional strategy supports priorities in Saudi Vision 2030 and the UAE Centennial 2071 by backing local companies with growth potential.
Separately, NEOPAY entered a definitive agreement to acquire a 65 percent controlling stake in noon payments, the payments company announced on October 5, 2026. The transaction unites NEOPAY’s acquiring infrastructure, omnichannel acceptance and merchant services with noon payments’ embedded platform, e-commerce gateway and merchant base spanning the UAE, Saudi Arabia and Egypt. Completion hinges on customary regulatory and antitrust approvals.
Vibhor Mundhada, CEO of NEOPAY, said, “This is an important milestone in NEOPAY’s journey. We have built a strong payments business in the UAE, and our ambition is now to take that capability across the region.” The combined entity will deliver integrated online and in-store acceptance, faster settlements, analytics and value-added services to merchants across MENA markets. A Gulf News report detailed that the pact reinforces NEOPAY’s UAE leadership while extending its footprint into Saudi Arabia and Egypt.
Faraz Khalid, CEO of noon, noted that the arrangement positions the payments unit alongside a dedicated regional infrastructure specialist without affecting the parent e-commerce ecosystem. NEOPAY, majority owned by a consortium including Arcapita and DgPays following a 2024 ownership shift, views the step as strengthening its role as the preferred payments provider for regional businesses. The agreement forms part of broader consolidation trends in Middle East payments as providers pursue greater scale and cross-border reach.
