AlHuda CIBE MD Appointed Shariah Adviser to Nigeria’s AI-Driven Fintech Open Space
Mr. Mughal will immediately assume his advisory role, providing guidance on Shariah governance structures, compliance frameworks, product validation, and alignment of Open Space’s Non-Interest Financial offerings with internationally recognized Islamic finance principles, regulatory expectations, and investor governance standards.
AlHuda Centre of Islamic Banking and Economics (AlHuda CIBE) has announced that its Managing Director, Mr. Muhammad Zubair Mughal, has been appointed as Shariah Adviser to Open Space Financial Services Limited , Nigeria’s AI-powered neo-fintech, effective January 1, 2026. The appointment highlights growing international confidence in AlHuda CIBE’s expertise in Islamic finance, ethical banking, and Non-Interest Financial frameworks.
Mr. Mughal will immediately assume his advisory role, providing guidance on Shariah governance structures, compliance frameworks, product validation, and alignment of Open Space’s Non-Interest Financial offerings with internationally recognized Islamic finance principles, regulatory expectations, and investor governance standards.
The strategic engagement reinforces Open Space’s commitment to embedding robust ethical and Shariah governance within its fintech operations. It also reflects AlHuda CIBE’s expanding role in supporting fintech innovation through structured Islamic finance practices. The institution has a longstanding record of advising financial entities, regulators, and market participants on Shariah-compliant product development, financial engineering, regulatory compliance, and market analysis across multiple jurisdictions.
With over twenty years of global experience in Islamic banking and finance, Mr. Mughal brings deep technical knowledge and practical insight into Non-Interest Financial product development and oversight. His guidance is expected to strengthen Open Space’s ethical finance architecture, ensuring transparency, responsible practices, and inclusive access to finance through advanced technology.
Open Space Financial Services operates an AI-driven platform offering Non-Interest Financial products alongside conventional services including savings, investments, credit, insurance, and inventory finance. This appointment underscores AlHuda CIBE’s continued global advisory expansion and its mission to promote ethical, Shariah-compliant financial systems while supporting innovation in fintech across Nigeria and beyond.
