Safaricom and Gulf African Bank launch Sharia compliant Halal Pesa
Safaricom and premier Shari’ah compliant bank, Gulf African Bank, have today partnered to launch Halal Pesa, a Shari’ah compliant mobile financing solution.
Halal Pesa becomes the first Shariah compliant mobile and digital financial solution in the country. Customers accessing financing through the service will receive the amount requested in full with a repayment period of 30 days at 5% commodity Murabaha margin.
“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 provide instantaneous access to interest-free credit through Halal Pesa. We are glad that we could partner with a like-minded partner like Safaricom limited to advance this vision,” said Abdalla Abdulkhalik, MD – Gulf African Bank.
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Press Release