Dubai's SME financing landscape is about to be tested by a bold new experiment: ضمانات has launched a $100 million private credit fund, structured entirely on blockchain, to target the region's $250 billion SME funding shortfall that banks have failed to address for years.
Despite SMEs generating over half of the UAE's GDP and employing the majority of the private sector workforce, less than 10% of total bank lending reaches them. Across the GCC, only 11% of SMEs secure any form of financing, leaving a vast majority locked out of traditional credit channels.
The new fund, named ضمانات فاند سي إي آي سي ليمتد, is registered as an exempt, closed-ended trust at Dubai International Financial Centre and regulated by the Dubai Financial Services Authority. It is managed by Trulium Venture Partners Limited, with Apex Group providing institutional administration.
Blockchain tokens and exclusive access
What sets this fund apart is its digital backbone. Investors will receive ZM1 Investment Tokens issued on the ZIGChain blockchain, a first-layer network designed for regulated institutional products. Access is strictly limited to professional clients who meet DFSA's criteria, ensuring the fund remains within a tightly controlled regulatory perimeter.
This tokenisation adds a blockchain-based layer of ownership and settlement, but the underlying credit strategy remains unchanged: direct lending to SMEs whose needs are ignored by conventional banks. The fund's investment focus aligns with major regional economic priorities, including Saudi Vision 2030 and UAE Centennial 2071.
Institutional partners and digital ambitions
Peter Hughes, founder and CEO of Apex Group, described the move as a template for digital asset markets: "ضمانات is creating a new asset class in digital finance. Combining institutional-grade structure with digital distribution under DFSA oversight sets a new standard for the sector. We are proud to support the infrastructure behind this fund and look forward to further collaboration."
This is the first live deployment of ضمانات's wider strategy to build what it calls a global market for institutional Islamic digital assets-a segment the company claims is still missing from the industry. According to Refinitiv and the Islamic Research and Training Institute, global Islamic finance assets could reach $9.7 trillion by 2029, with demand for sharia-compliant digital products outpacing the institutional infrastructure available to serve them.
