DSC_9133

Hijra Bank Launches Ethiopia’s First Sharia-Compliant Digital Financial Platform, HalalPay

Abdusalam Kemal, Chairman of Hijra Bank’s Board, discussed the bank’s evolution from community-focused services to leveraging technology for greater impact. He stated, “Since our inception, we’ve shifted from serving the community to using technology to enhance our services.” Abdusalam noted that HalalPay reflects the bank’s dedication to its community and highlighted its significance.

Dawit Keno, CEO of Hijra Bank, described HalalPay as a valuable solution for individuals seeking interest-free financing. “This is a gift to the generation,” Keno remarked, emphasizing the platform’s potential to change financial transactions.

HalalPay is a mobile application that provides users with various digital financial services without interest obligations. The platform currently serves over 120,000 customers, has more than 720 agents, 470 merchants, and 1,250 locations. Services include cash in-cash out, money transfers, airtime purchases, payments for goods and services, and Islamic financing options. It also features Equb (digital table banking) and is integrated with core banking systems, including E-Murabaha (digital lending) capabilities and a credit scoring system for automated processing.

Security measures include standard encryption and multi-factor authentication certified by INSA. Solomon Desta, Deputy Governor of the National Bank of Ethiopia (NBE), expressed support for the initiative, stating that HalalPay will contribute to financial inclusion. The platform integrates with all local banks via EthSwitch and has partnered with Ethiopian Airlines for ticketing services.

Dr. Haji Ibrahim Hassein, Vice President of Hijra Bank, highlighted HalalPay’s role in supporting farmers and rural communities, improving financial accessibility. The platform supports multiple languages and can be accessed via USSD code *693# on both Android and iOS devices.

With its comprehensive features, Sharia-compliant design, and security measures, HalalPay is positioned to influence Ethiopia’s financial landscape and support small businesses and individual customers through digital lending.

Leave a Reply

Your email address will not be published. Required fields are marked *



Ethiopian Business Review | EBR is a first-class and high-quality monthly business magazine offering enlightenment to readers and a platform for partners.



2Q69+2MM, Jomo Kenyatta St, Addis Ababa

Tsehay Messay Building

Contact Us

+251 961 41 41 41

Addis Maleda
x