Online Financial Services

Sourced from Tech Weez. Safaricom has partnered with Gulf African Bank to launch a Shari’ah-compliant mobile financial service, Helal Pesa, in Kenya. According to Tech Weez, the product is the first Shari’ah-compliant mobile and digital solution in the East African country. Customers accessing financing through the service will receive the amount requested in full with a repayment period of 30 days at a 5% commodity Murabaha margin, according to Tech Weez. Abdalla Abdulkhalik, MD – Gulf African Bank, said Kenya is now a highly innovative, interconnected, and fast-paced community that requires solutions on the go. “All our digital offerings including Halal Pesa, seek to directly address this aspect. Our current strategy is focused on digitization for financial inclusion. Our aim is to ...