{"id":133969,"date":"2026-03-25T00:00:00","date_gmt":"2026-03-25T00:00:00","guid":{"rendered":"https:\/\/iumsonline.org\/archives\/133969"},"modified":"2026-03-25T00:00:00","modified_gmt":"2026-03-25T00:00:00","slug":"halal-pay-a-groundbreaking-leap-in-digital-islamic-finance-in-ethiopia-surpasses-1-billion-birr","status":"publish","type":"post","link":"https:\/\/iumsonline.org\/en\/archives\/133969","title":{"rendered":"\u201cHalal Pay\u201d: A Groundbreaking Leap in Digital Islamic Finance in Ethiopia Surpasses 1 Billion Birr"},"content":{"rendered":"

\u201cHalal Pay\u201d: A Groundbreaking Leap in Digital Islamic Finance in
\nEthiopia Surpasses 1 Billion Birr<\/o:p><\/span><\/b><\/p>\n

 <\/span><\/p>\n

In a
\nlandmark move reflecting profound shifts in Ethiopia\u2019s Islamic finance sector,
\nthe Immigration Bank announced that the financing provided through its digital
\napplication, \u201cHalal Pay\u201d (Halal Pay), has exceeded 1 billion Ethiopian birr
\n(approximately 18 million USD) via its electronic Murabaha service. This
\nfirst-of-its-kind experience in the country highlights the accelerating
\ninnovation in Sharia-compliant financial services.<\/o:p><\/span><\/p>\n

Advanced Services and Broad Financial Inclusion<\/o:p><\/span><\/b><\/p>\n

The app
\noffers an innovative model combining technology with Sharia-compliant
\nprinciples. It provides a digital wallet and interest-free Islamic financing,
\nwithout the need for collateral or complex procedures, making it accessible to
\na wide segment of society, especially those previously excluded from the
\ntraditional financial system. This step significantly advances financial
\ninclusion in the country.<\/o:p><\/span><\/p>\n

Tangible Economic and Social Impact<\/o:p><\/span><\/b><\/p>\n

In less
\nthan a year, the app has reached over 1.3 million users and provided services
\nto more than 3,000 small and medium enterprises, while enabling a large number
\nof women and youth to access financing. This reflects an economic and social
\nimpact that goes beyond mere financial services, extending to the support of
\njob creation and productive activities.<\/o:p><\/span><\/p>\n

Fast and Flexible Financing Without Barriers<\/o:p><\/span><\/b><\/p>\n

\u201cHalal
\nPay\u201d allows users to obtain financing of up to 1 million Ethiopian birr
\ninterest-free, without visiting branches or providing collateral. This
\nrepresents a radical transformation in user experience, making finance faster,
\ncloser, and more flexible, especially in regions where access to banking
\nservices is challenging.<\/o:p><\/span><\/p>\n

This
\nachievement marks an important step toward building a Sharia-compliant economic
\nsystem and reinforces the role of technology in supporting Islamic finance. It
\nopens new opportunities for the national economy and strengthens confidence in
\nalternative financial models, offering a successful framework that balances
\nefficiency and economic justice.<\/o:p><\/span><\/p>\n

Ethiopia,
\nlocated in the Horn of Africa with a population of around 120 million, is one
\nof the continent\u2019s largest emerging economies. The Muslim community constitutes
\nover 40% of the population, with growing interest in recent years in
\nSharia-compliant financial services.<\/o:p><\/span><\/p>\n

(Source:
\nNegash TV)<\/o:p><\/span><\/span><\/p>\n

 <\/span><\/p>\n

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\n\u0627\u0644\u0639\u0631\u0628\u064a\u0629<\/span><\/b>\u060c \u0627\u0636\u063a\u0637 (\u0647\u0646\u0627<\/a><\/span>).<\/span><\/b><\/o:p><\/span><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cHalal Pay\u201d: A Groundbreaking Leap in Digital Islamic Finance in Ethiopia Surpasses 1 Billion Birr<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[414],"tags":[890],"class_list":["post-133969","post","type-post","status-publish","format-standard","hentry","category-our-news-en","tag-news-of-the-islamic-world"],"acf":[],"_links":{"self":[{"href":"https:\/\/iumsonline.org\/en\/wp-json\/wp\/v2\/posts\/133969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iumsonline.org\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iumsonline.org\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/iumsonline.org\/en\/wp-json\/wp\/v2\/comments?post=133969"}],"version-history":[{"count":0,"href":"https:\/\/iumsonline.org\/en\/wp-json\/wp\/v2\/posts\/133969\/revisions"}],"wp:attachment":[{"href":"https:\/\/iumsonline.org\/en\/wp-json\/wp\/v2\/media?parent=133969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iumsonline.org\/en\/wp-json\/wp\/v2\/categories?post=133969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iumsonline.org\/en\/wp-json\/wp\/v2\/tags?post=133969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}