Sunday, July 14, 2024
ReportIslamic fintech companies collaborate to build charity ecosystem

Islamic fintech companies collaborate to build charity ecosystem

An Islamic crowdfunding platform and a Halal payment gateway have joined hands in a partnership ensuring end-to-end Shariah social financing.

GlobalSadaqah, operated by Ethis Ventures, will adopt Souqa Fintech’s payment gateway PayHalal enabling GlobalSadaqah donors to channel donation to charities through a Shariah compliant payment gateway in a more time efficient manner.

“This partnership with PayHalal marks yet another milestone in our journey to become the nucleus of the charity eco-system. We hope that with the new payment gateway in place, we can promote and facilitate people to give more charity and spread more happiness around,” GlobalSadaqah’s chief product officer, Mohammed Alim, commented.

PayHalal is the first payment gateway to be certified Shariah compliant by scholars (Amanie Advisors) and is currently helmed by Islamic banking veteran Badlisyah Abdul Ghani, who was previously deputy CEO of Malaysia’s Hajj pilgrimage fund, Lembaga Tabung Haji, and CEO of CIMB Islamic, one of the largest Islamic banking brands in the ASEAN region.

This partnership between the two Malaysian Islamic fintech companies comes as the ecosystem is adopting a more collaborative approach, in the backdrop of a greater push to strengthen the Malaysian Islamic digital economy, and is an example of how end-to-end Shariah integrity of financing could be achieved.


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