Launching Africa's first Islamic neobank on Mambu
Nyla selected Mambu to power the launch of Africa’s first Islamic neobank, bringing ethical and Shari’ah-compliant financial services to an underserved market. Built on Mambu’s cloud-native platform, Nyla is preparing to launch first in Ghana with plans to scale its values-driven banking model across Africa.
- 0,000+
- waitlist users across 43 countries
- 0K
- total users by the end of 2026
- $0K
- in transaction value processed across products in the first month
NYLA
About the customer
Nyla is Africa’s first Islamic neobank, providing ethical financial products and services rooted in transparency, fairness, and inclusion. It serves a global Islamic finance market of over two billion people seeking financial solutions aligned with their beliefs and values.
As a digital-first challenger, Nyla offers a modern alternative to traditional banking, focusing on Shari’ah-compliant products that promote financial empowerment across the continent.
More than 33,000 users have already joined the waitlist, pointing to strong early demand ahead of launch.
The opportunity
Scaling faith-aligned banking for the underserved
The global Islamic finance industry is valued at over $7 trillion, yet Africa currently accounts for just 2% of this market. Nyla identified a clear opportunity to help address this gap by building a digital-first banking proposition for users seeking financial services aligned with their beliefs and values.
As its product vision evolved, the team sought a secure and scalable core banking platform that could manage complex Islamic and non-interest banking products, while managing accounts, transactions and regulatory requirements without the need to build core infrastructure from scratch.
As its product vision evolved, the team sought a secure and scalable core banking platform that could manage complex Islamic and non-interest banking products, while managing accounts, transactions and regulatory requirements without the need to build core infrastructure from scratch.
The goal was to find an API-first, cloud-native solution that could meet strict regulatory requirements while integrating seamlessly with partner banks and third-party providers.
“By combining ethical banking principles with scalable technology, we aim to confront financial exclusion with a lasting and practical solution. Partnering with Mambu gives us the foundation to execute that vision with speed and compliance. ”
- Mubarak Sumaila, CEO of Nyla
The solution
A composable foundation for ethical digital banking
In early 2026, Nyla selected Mambu’s SaaS cloud banking platform for its proven track record with leading digital and Islamic banks globally. Mambu will serve as the core banking engine for Nyla, powering essential functions such as customer account creation, balance management, and transaction recording.
Built on Amazon Web Services (AWS), the platform's API-first architecture allows Nyla to integrate easily with a wide ecosystem of partners, including major commercial banks in Ghana and various payment providers.
This composable approach enables Nyla to configure Shari’ah-compliant products—like digital current and savings wallets—with the flexibility required to navigate different regulatory environments.
Built on Amazon Web Services (AWS), the platform's API-first architecture allows Nyla to integrate easily with a wide ecosystem of partners, including major commercial banks in Ghana and various payment providers.
This composable approach enables Nyla to configure Shari’ah-compliant products—like digital current and savings wallets—with the flexibility required to navigate different regulatory environments.
“We chose Mambu for three reasons. First, its SaaS-based core banking platform lets us deploy quickly and scale without building or maintaining core infrastructure. Second, it supports Shari’ah-compliant and non-interest banking products, which are central to our model. Third, its track record with Islamic and digital Islamic banks, giving us confidence it is proven in real-world use cases.”
- Mubarak Sumaila, CEO of Nyla
Islamic Banking with Mambu
Shari'ah-based banking
on a cloud-native core
Mambu’s Islamic Banking offering provides a modern, cloud-native foundation for financial institutions to deliver Shari’ah-compliant services alongside or independent of conventional banking. Mambu’s comprehensive Islamic funding suite supports a diverse range of deposit and investment products, including transactional accounts, fixed deposits, and savings plans utilising key contracts.
The impact
A scalable launchpad for growth
With Mambu as its core banking engine, Nyla is building a regulated, production-ready digital banking platform that is set to launch in Ghana in just months after adopting Mambu.
By opting for Mambu’s cloud-native infrastructure, Nyla aims to mitigate execution risk and significantly reduce time to market compared to traditional legacy systems. Within the first year, the neobank aims to reach 400,000 users and mobilise $250,000 in customer deposits within just 30 days of going live.
Following launch, the partnership will support Nyla’s expansion into Nigeria, Senegal, and Gambia by 2027, supporting its ambition to evolve into a full-service pan-African digital Islamic bank.
The roadmap includes deepening its product suite with physical debit cards and remittances, BNPL as well as introducing "Nyla for Business" and Shari’ah-compliant investment instruments like Sukuk. Ultimately, Mambu’s multi-country scalability is a core component in Nyla’s ambition to become one of the largest Islamic banks in the world.
The roadmap includes deepening its product suite with physical debit cards and remittances, BNPL as well as introducing "Nyla for Business" and Shari’ah-compliant investment instruments like Sukuk. Ultimately, Mambu’s multi-country scalability is a core component in Nyla’s ambition to become one of the largest Islamic banks in the world.
Stay ahead in Islamic banking
Islamic banking is entering a new era - one that demands speed, scale and flexibility without compromising on ethical values. Our report on the future of Islamic banking highlights the risks and challenges related to legacy systems and offers solutions and opportunities to transform into a Shari'ah-based leader within the modern financial landscape.
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