ISLAMABAD: Pakistan’s financial technology sector has achieved a major breakthrough with the launch of a Shariah-compliant embedded finance solution for small and medium enterprises (SMEs).
Raqami Islamic Digital Bank has partnered with fintech pioneer Haball to introduce this innovative platform that integrates Islamic financing directly into digital supply chain workflows.
Revolutionizing SME Financing
The new solution addresses critical challenges faced by Pakistan’s underserved SME sector by providing collateral-free working capital.
Unlike traditional financing methods, this platform enables instant access to funds based on receivables and purchase orders without asset pledging requirements.
The system features seamless integration with existing enterprise resource planning (ERP) systems and distributor networks.
It utilizes Murabaha-based Islamic financing structures to ensure Shariah compliance at every transaction level.
Digital-First Financial Inclusion
This partnership represents a significant step forward in implementing State Bank of Pakistan’s financial inclusion roadmap.
The platform employs AI-powered credit assessments that analyze actual cash flows rather than relying solely on conventional credit scoring.
Real-time transaction tracking and audit trails enhance transparency for both financiers and anchor businesses.
Instant disbursement capabilities provide immediate liquidity relief to SMEs operating within supply chains.
Raqami CEO Umair Aijaz emphasized their mission to reinvent Islamic banking through digital innovation.
Haball CEO Omer Bin Ahsan highlighted how embedded finance democratizes access to capital for smaller businesses.
The solution is expected to significantly improve supply chain efficiency while maintaining Islamic financial principles.
