In this episode of The MAL Show (Podcast), we sit down with Wael Nafee — former Careem executive and now Partner at Raed Ventures, one of the region’s leading venture capital firms.

Wael has seen both sides of the table:
• building companies as an operator
• and backing founders as an investor

After studying and working abroad, he made the decision to come back and build in the region.

In this conversation, we discuss:

• Why some founders choose to return and build in emerging markets
• The culture of money and capital in the Middle East
• What Sharia-compliant fundraising actually looks like in venture capital
• Whether ethical constraints make companies weaker — or more disciplined
• The responsibility that comes with building products used by millions

And perhaps the most important question:

When your capital shapes companies used by millions of people…
what do you owe society?

A conversation about nation building, capital with consequence, and the moral weight behind scale.

We hope you enjoy this episode and don't forget to subscribe to our channel to get the latest episodes of the Mal Show.

Chapters:
00:00 Intro and Wael's journey
10:28 Sources of Fundraising
17:51 Sharia compliance Fundraising
23:09 Careem's positioning & acquisition
27:06 Careem's culture
33:23 Joining Raed Ventures
40:15 What do Investors look for?
44:32 Self assessment, correction & reflections
52:26 Money & Culture
57:55 Women & Money
1:01:12 Final advice on money

To get in touch with us:
podcast@mal.ai

Follow us on Social Media:
https://www.instagram.com/themal.show/
https://www.tiktok.com/@themalshow.podcast
https://www.facebook.com/profile.php?id=61566478614883

To get in touch with Yousef Salem
https://www.linkedin.com/in/youssefsamysalem/?skipRedirect=true
https://www.instagram.com/youssefsamysalem?hl=en

To get in touch with Wael Nafee
https://www.linkedin.com/in/wael-nafee-2b78abb/

#themalshow #fintech #islamicfinance #entrepreneur #podcast

Islamic finance is worth trillions; but does it actually fix anything?

In the first episode of The Mal Show (podcast), we sit down with Abdallah Abu Sheikh, Founder & CEO of MAL, who raised $230 million in one of the largest seed rounds in the region to build what to be the world’s first AI-native Islamic digital bank.

But this conversation goes deeper than fintech.

We explore:

• Are Islamic banks truly different — or just conventional banks with different terminology?
• Is Sharia compliance enough to make finance ethical?
• How do you handle venture capital pressure while staying aligned with faith-based principles?
• What is Islamic finance really trying to fix in today’s system?
• Is debt always bad — or is it about structure and intention?
• Is investing in stocks and crypto halal?
• Why do so many high earners still feel financially stressed?

We also unpack Mal specifically:

• Why build another Islamic financial institution?
• What does “AI-native banking” actually mean for users?
• Can Islamic fintech scale globally like Revolut or Stripe?
• What changes the moment someone switches to Mal?

This is a conversation about capital and conscience.
About growth and responsibility.
About whether we can build serious financial infrastructure from the UAE — without copying the West.

If you care about money, ethics, investing, Islamic finance, or the future of banking in the region — this episode is for you.

Chapters:
00:00 Intro
02:32 Building & Solving the region's problems
16:44 What is Islamic Finance?
19:33 Ethics vs Sharia Compliance
24:37 Reality of Islamic Banking
26:35 What problem is Mal trying to solve?
30:13 The System challenges
36:46 Financial safety
43:54 Mal as the first Ai native digital bank
45:21 Is a college degree still necessary?
49:26 Dealing with industry pressure & frustrations
55:09 What Talent is Mal looking for?
48:43 Voluntary vs involuntary Struggle and debt
1:05:41 Social Media & financial traps
1:10:03 Crypto and Islamic Finance
1:11:03 On being progressive..

We hope you enjoy this episode and don't forget to subscribe to our channel to get the latest episodes of the Mal Show

To get in touch with us:
podcast@mal.ai

To get in touch with Yousef Salem
https://www.linkedin.com/in/youssefsamysalem/?skipRedirect=true
https://www.instagram.com/youssefsamysalem?hl=en

To get in touch with Abdullah Abu-Sheikh
https://www.linkedin.com/in/abdallahabusheikh/
https://www.instagram.com/abdallahabusheikh/

#themalshow #fintech #islamicfinance #entrepreneur #podcast